The Kurds will increase production to 1 MMbbl/d by the end of 2015 from a current level of 320,000.
Favorable geological characteristics combined with the supply-altering potential of massive discoveries are the region’s cash flow assurance.
Security strongholds remain in the country’s main oil-producing regions.
As sanction talks continue, Iran pushes to increase investment in its energy sector.
Pilot project in Oman reduces need for natural gas in thermal EOR.
The field development plan for the Akri-Bijeel Block in Kurdistan has been officially approved by the Minister for Natural Resources.
A bill to create the company, with shares to be sold to the public, was approved by the cabinet of the Kurdistan Regional Government, Kurdish Prime Minister Nechirvian Barzani said in a statement.
The collapse in oil prices may deter investment in E&P projects predicated on $100 crude, United Arab Emirates’ Energy Minister Suhail Al Mazrouei said.
Wavefront Technology Solutions Inc. has entered an agreement to provide Wavefront's Powerwave technology to a top-tier service supplier for its operations in the United Arab Emirates (UAE), a news release said.
Mermaid Maritime Public Co. Ltd. has chartered three additional vessels in the past month to take on new projects.
BP has awarded Emerson Process Management, a global business of Emerson, a contract in excess of $40 million to be the main automation contractor for the Shah Deniz Stage 2 development project in the Azerbaijan sector of the Caspian Sea.