Upstream news

Wintershall's investments in new wells help to secure supplies in Germany.

GlobalData forecasts that over US$39.2 billion in Capex will be spent by ExxonMobil on oil projects over the next four years, with onshore fields accounting for over half of the company’s crude production in this period.

Frontera Resources Corporation has provided an update regarding interim results on testing of the Ud-2 well, situated inside the 950 km2 Mtsare Khevi Gas Complex area, located in onshore Block 12, Georgia.

The launch, in parallel with engineering, procurement and construction (EPC) work for the conversion of the tanker, was marked with a two-day safety-engagement event.

Amerisur Resources Plc, the oil and gas producer and explorer focused on South America, is pleased to provide an update on agreements in Ecuador for the use of the OBA/RODA pipeline systems for transport of Amerisur crude oil.

The line of equity financing comes from funds affiliated with Warburg Pincus, a global private equity firm focused on growth investing.

CB&I have signed a joint development agreement with Saudi Aramco and Chevron Lummus Global, for the development, commercialisation and marketing of crude-to-chemical technologies.

Global holds an 85% participating interest in the licence, which was originally issued on 3 December 2010, located offshore Namibia in water depths ranging from 1300 m to 3000 m.

The new contract will have a duration of 25 years and is the first contract under the hydrocarbon law 05-07 for an oilfield in production.

Strong gas flows on test have confirmed a significant commercial discovery for Australia’s Po Valley Energy Limited at its new Selva gas field in northern Italy.