Lukoil-Engineering, and the National Iranian Oil Company, have signed a memorandum of understanding. The parties to the memorandum express their interest to enhance mutually-beneficial cooperation, which implies basin modelling and analysis of the petroleum systems of north-west areas of the Persian Gulf, the…
Gazpromneft-Sakhalin, a subsidiary of Gazprom Neft, has completed drilling of a prospecting and appraisal well at its Ayashsky licence block, located on the continental shelf of the Okhotsk Sea. As a result, a new hydrocarbon field has been discovered, with initial in-place reserves estimated at 255 million tonnes of oil equivalent (MMtoe). A detailed assessment of these reserves…
Technology group Wärtsilä has announced it has been awarded a turn-key contract with Hamina LNG Oy to supply a liquefied natural gas receiving terminal to be built in Hamina, Finland. The scope includes site filling, soil refurbishment, civil works, infrastructure, full containment storage tank…
BP is taking delivery of six new LNG tankers in 2018 and 2019 to support its expanding global LNG portfolio. BP’s finance partners KMarin and ICBC Leasing are investing more than US$1 billion in the tankers, which will help service BP’s 20-year liquefaction contract…
While the trend in spending for oil and gas companies since the crash in oil prices has been in a steep decline, production has remained relatively stable since 2015, according to a new report from Rystad Energy. This might lead to the conclusion that…
Independent Oil and Gas (IOG) has signed a letter of intent (LoI) with Heerema Fabrication Group for up to four normally unmanned platforms for the Blythe Hub and Vulcan Satellite Hub gas developments in the UK southern North Sea. The LoI covers front-end engineering…
By extending its ban on hydraulic fracturing, the Scottish government “is turning its back on a potential manufacturing and jobs renaissance,” according to an industrial supporter of shale-gas production. Ineos Shale, operator of two exploration licences between Glasgow and Edinburgh, criticised a decision announced…
Statoil has signed an agreement to acquire a 40% share in the construction ready 162MW Apodi solar asset in Brazil from Scatec Solar, a Norwegian independent solar power producer. The project will provide approximately 160.000 households with electricity. Statoil and Scatec Solar have also…
The only reason Egypt has even existed from ancient times until today is because of the River Nile which provides a thin, richly fertile stretch of green through the desert. Now, for the first time, the country fears a potential threat to that lifeline,…
DONG Energy has announced that the company will change its name from DONG Energy to Ørsted. The decision follows the global energy company’s profound strategic transformation from black to green energy and the recent divestment of its upstream oil and gas production. The company…
