It was announced on the 10th October that Rosneft has closed the deal to acquire a 30% stake in the concessions agreement for the development of Zahra field, the largest gas field in the Mediterranean Sea, from Italian company Enid Spa. The cost of…
Oranto Petroleum Ltd has signed two production-sharing agreements with Uganda’s Ministry of Energy and Mineral Development for the 410-square kilometre Ngassa shallow and deepwater play of Lake Albert. Oranto will hold 100% participating interest in both licences, which are contiguous with major coastal petroleum…
Article by Ahmed Mousa Jiyad. This is a summary of a PowerPoint presentation prepared for and to be delivered before the international “8th Turkey Energy Summit Congress”, held at Antalya, on the 10th and 11th October. The presentation was formulated on two interrelated…
Gazpromneft-Sakhalin has completed drilling of a prospecting and appraisal well at its Ayashsky licence block, located on the continental shelf of the Okhotsk Sea. Gazprom Neft said last week that a new hydrocarbon field was discovered, with initial in-place reserves estimated at 255 million…
Saudi Arabia’s state-owned oil giant has “mega investment” plans for the world’s fastest growing oil market, according to Saudi Arabian Oil Company’s CEO. The company, popularly known as Saudi Aramco, plans to create a fully integrated business in India and is interested in partnering with Indian…
Chevron Corporation and Total SA have expressed readiness to help develop Iraq’s giant Majnoon oil field, which Royal Dutch Shell Plc said it wants to quit, according to Iraqi Oil Minister Jabbar al-Luaibi. Iraq has not started negotiations with Chevron and Total, which have…
Statoil ASA has discovered 25-130 million bbl of oil in the Verbier sidetrack well in the outer Moray Firth on the UK Continental Shelf. Jez Averty, senior vice-president, exploration, in Norway and the UK, said the oil was proven in “good quality sands with…
Eni SPA is eyeing acreage near Crete as Greece works toward opening its offshore to oil and gas development. According to Greece’s Kathimerini website, Eni is taking the likely step from its foothold on the neighbouring Cypriot market to expand its scope in the…
Argentina plans to auction offshore oil and gas exploration rights next year, in the hope of developing fields off its Atlantic coast like those in neighbouring Brazil, the energy minister said on the 5th October. Earlier this year Argentina hired Norway’s Spectrum to do…
Ecuador will offer oil exploration and production blocks in January under new contract terms which it expects will attract more interest and allow the OPEC-member country to compete with its neighbours for foreign investment, the oil minister said. The new terms will allow producers…
