Drilling & production - 26 September 2011

Both crude oil rich nations seek cooperation for the utilisation of their vast reserves: Iraq to build refining capacity and Kuwait to secure long term supply relationships.

Arrow LNG (a joint venture between Petrochina and Shell) has acquired Bow Energy after boosting it’s bid to AU$ 535 million (US$ 524.2 million). Arrow had to raise its’ offer by 2% on it’s initial offering to secure the deal.

Green Gas International and the A.A. Skockinsky Institute of Mining (SIM) have announced the signing of a co-operation agreement. The agreement facilitates the joint development of coalbed methane (CBM) drainage and utilisation projects in the Russian Federation through a joint venture company.

Chevron has given the green light to start work on the proposed Wheatstone LNG project in Western Australia, the approval has come after Chevron received federal approval to build the 25 million tpa LNG liquefaction plant last week.