Mitra Energy to buy interest in Stag oil field

Mitra Energy Inc., Vancouver, BC, has signed a sale and purchase agreement with Quadrant Energy Pty. Ltd., Perth, and Santos Ltd., Adelaide, to purchase 100% of Stag oil field offshore Western Australia. Source: News

Shell Australia lets contract for Prelude FLNG facility

Shell Australia Pty. Ltd. has let a contract to Norwegian firm DOF Subsea for underwater services and supply of a multipurpose supply vessel to the Prelude floating LNG facility soon to be stationed in the Browse basin 475 km offshore northwestern Western Australia. Source: News

Eni takes second-quarter loss amid Val d’Agri shutdown

Eni SPA posted a second-quarter adjusted net loss of €290 million compared with an adjusted net profit of €505 million in second-quarter 2015. For the first half, the firm took an adjusted net loss of €267 million compared with an adjusted net profit of €1.23 billion in first-half 2015. Source: News

NPC to work more closely with DOE on emergency preparedness

The National Petroleum Council has agreed to use the new approach in the US Department of Energy’s 2016 Clear Path IV emergency preparedness exercise to independently track progress in implementing recommendations in its 2014 Enhancing Emergency Preparedness for Natural Disasters report and identify opportunities for continued improvement. Source: News

Antero to buy Marcellus nonoperated interest from Statoil

Antero Resources Corp., Denver, has agreed to acquire certain nonoperated interests in the Marcellus shale in West Virginia from Statoil ASA for $96 million in cash. The deal is expected to close by the end of the third quarter. Source: News

MARKET WATCH: NYMEX crude ends volatile week with a slight gain

The light, sweet crude oil price for September rallied somewhat on the New York market July 29 to end a very volatile week at $41.60/bbl compared with early June when the front-month contract traded around $50/bbl. Source: News

Can Iraq tackle its problems?

Iraqis generally recognize that their country sits on some of the world’s largest oil and gas supplies that could provide substantial benefits. But depressed commodity prices aggravated mismanagement imposed by outsiders as well as internally in a nation that’s in the middle of one of the world’s most politically unstable neighborhoods, an expert observed. […]

3-D pipeline spatial data advances design, operation

Testing of data provided by the Second Pipeline Construction Co. of China National Petroleum Corp. (PetroChina Pipeline) shows that using a 3D pipeline spatial-data model (PSDM) not only can further pipeline information management but also aid design and operation. The Pipeline Open Data Standard (PODS) provided the data-testing framework. Source: News