Oil & gas news

The companies have agreed to amend the existing long-term contracts on three ultra-deepwater drillships. In the current, challenging environment for offshore exploration and production projects, the agreements offer benefits for both parties.

AWE Limited has divest its 57.5% interest in the Tui Area Oil Fields to Tamarind Management Sdn Bhd.

The acquisition of Essential's service rig business expands Precision's leading well service position.

Sound Energy has received regulatory approval for acquisition of a 75% interest in Sidi Moktar licences onshore Morocco.

PT RINA Indonesia, in consortium with PT Depriwangga, has been awarded two contracts to provide Quality Assurance services for offshore and onshore projects in Indonesia.

Eni has agreed to sell to Rosneft a 30% participating interest in the Shourouk Concession, offshore Egypt, where the supergiant gas field Zohr is located.

Following the ‘Vienna Agreement’ on 30th November, 2016, Ministers from OPEC met with a number of Ministers from non-OPEC oil producing countries on Saturday, 10th December, at the OPEC Secretariat in Vienna.

The managing executer of phase 19 of South Pars reported of the increase in the phase gas production and stated that with the operationalisation of 19A platform, the daily gas extraction of the phase from the South Pars would be increased to 42 million cubic meters per day.

The appointment remains subject to the approval of the Oil and Gas Authority.

The company has submitted the Blythe Field Development Plan in draft format to the Oil and Gas Authority.