Total SA has signed an agreement with Novatek to acquire a 10% participation interest in the Russian company’s 19.8 million-tonne/year Arctic LNG 2 project on northern Siberia’s Gydan Peninsula. Novatek plans three liquefaction trains with combined capacities of 19.8 million tpy of LNG from gas produced at Utrenneye gas and condensate field.  Source: News

Woodside Petroleum Ltd., Perth, would like to accelerate and increase the breadth of its plans through development of the Scarborough natural gas fields on the Exmouth Plateau offshore Western Australia.   Source: News

Countries seeking ways to increase access to energy should view hydraulic fracturing cautiously because of possible gaps in local geological and hydrological knowledge, inadequate regulatory environments, and diversion of resources from renewable energy source, a United Nations Conference on Trade and Development (UNCTAD) report recommended on May 24. Source: News

Keppel Corp. Ltd., a wholly owned subsidiary of Keppel Offshore & Marine Ltd., has sold five jack up rigs to Borr Drilling Ltd. for $745 million. One rig is scheduled to be delivered in late-2019 with four rigs to be delivered during 2020.  Source: News

Oil futures prices eased May 24 on both London and New York markets. Light, sweet oil prices followed a fall in US equity markets after US President Donald Trump’s announcement calling off a summit with North Korea. Source: News

The oil and gas unit of a major Abu Dhabi wealth fund is planning its first major investment in Russia. Mubadala Petroleum and the Russian Direct Investment Fund will acquire a 49% equity interest in Gazpromneft-Vostok to form a joint venture with Gazprom-Neft for development of oil fields in the Tomsk and Omsk regions.  […]