Saudi Aramco has let contracts to Saipem for offshore work expanding Berri and Marjan oil fields. The contracts, totaling $1.3 billion, cover design, engineering, procurement, construction, installation, and implementation of subsea systems and the laying of pipelines, subsea cables and umbilicals, platform decks, and jackets. Source: News
Rystad Energy: Global gas output hit highest growth in a decade in 2018
The worldwide oil and gas industry achieved a net production increase of 164 billion cu m (bcm) in 2018, representing the highest production growth since 2010, according to research by Rystad Energy. Source: News
East Timor approves use of petroleum fund for Sunrise acquisition
East Timor President Fransisco Guterres has approved a decree allowing use of the country’s petroleum fund for the $650-million acquisition of the Royal Dutch Shell PLC and ConocoPhillips’s interests in the Greater Sunrise gas-condensate fields in the Timor Sea. Guterres had previously vetoed the proposal, saying at the time that it could allow the petroleum […]
Costs, energy needs discredit ‘keep it in the ground’ agenda
Preemptive opposition to oil and gas projects by “keep it in the ground” activists promises needless hardship in two broad areas. Source: News
Sawan to succeed Brown as Shell upstream director
Wael Sawan has been appointed upstream director of Royal Dutch Shell PLC, and will become a member of the executive committee, effective July 1. He currently serves as executive vice-president, deepwater. He joined Shell in 1997 and has held commercial and operational leadership roles across the upstream, integrated gas, and downstream businesses. Source: News
Husky’s offer for MEG expires without extension
Husky Energy Inc. will not extend its $3.3-billion (Can.) offer to acquire MEG Energy Corp. after the October proposal expired Jan. 16. The company said the minimum tender condition was not met by the deadline and the proposal received insufficient MEG board and shareholder support. Source: News
ZPC lets contract for Phase 2 of integrated complex
Zhejiang Petrochemical Co. has let a contract to Honeywell UOP and Honeywell Process Solutions to provide a range of process technologies, engineering design, equipment, catalysts and adsorbents, and advanced automation controls for units to be installed as part of the second phase of its 800,000-b/d integrated refining and petrochemical complex in Zhoushan, Zhejiang Province, China. […]
PGNiG to explore for, produce hydrocarbons in UAE
PGNiG SA will explore for and produce hydrocarbons in Ras Al Khaimah—the northernmost member of the United Arab Emirates—under a production-sharing agreement signed by PGNiG, the Ras Al Khaimah Petroleum Authority, and Rak Gas LLC. Source: News
Gulf Keystone initiates expansion program at Shaikan field
Gulf Keystone Petroleum has initiated an investment program at its operated Shaikan field in the Kurdistan region of Iraq and is progressing plans to increase production to 55,000 b/d. Average gross oil production of 31,563 b/d in 2018 is underpinned by strong performance of the Shaikan Jurassic reservoir, and is in line with expectations, the […]
Gullfaks partners submit PDO for more oil recovery
Equinor and its partners in Gullfaks oil field in the Norwegian North Sea’s Tampen area will drill 7 wells believed to improve oil recovery by 17 million bbl with good profitability. The amended plan for development and operation submitted to Norway’s Ministry of Petroleum and Energy calls for additional resource recovery with water injection and […]