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The diplomatic crisis in Qatar is a case study on just how diplomacy and trade are interconnected.
Through its R&D arm, Saudi Aramco is working on various R&D projects in an effort to increase the recovery factor of reservoirs from 50% to 70%.
Most of the shared oil and gas fields are located in the Arabian Gulf, which is considered one the world’s shallowest seas with depths rarely exceeding 100 m.
Stratas Advisors expects King Salman’s choice of son to lead Saudi Arabia will create a market environment that will ultimately be positive for oil prices.
In a Kazakhstan field, optimized ESP selection increased run life by more than 500%, and Lift IQ service reduced downtime by another 27%.
Sitting on some of the world’s biggest energy reserves, Iran has already been working on deals to develop existing fields such as South Pars, South Azadegan, Yadavaran, West Karoon, Mansuri and Abe-Timur.
Israel's Delek Drilling and Avner Oil, both units of conglomerate Delek Group, said May 17 they have completed a long-awaited merger and will begin trading next week as one company.
The new discovery was made onshore in the Uzunada area, state news agency TDH said. The test well produced 500,000 cubic meters of gas and 150 tonnes of condensate per day, it said.
Lebanon, along with Cyprus, Israel and Egypt, sits on the Levant Basin in the Mediterranean where gas fields have been discovered since 2009, Reuters reported.
Delek said in a statement that a new corporation will be set up that will sell securities, including bonds, on the Tel Aviv exchange to raise money to buy the stake in the gas fields.
Denmark’s Maersk Oil has estimated potential output for the second phase of Iran’s South Pars oil deposit at 120,000-140,000 barrels of oil per day, Fars News Agency reported, citing an official at National Iranian Oil Co. (NIOC).
France's Total will invest $3.5 billion over five years in Qatar's offshore Al Shaheen Field and expects to keep production running at 300,000 bbl/d in future, French and Qatari executives said July 11.
Amir Hossein Zamaninia, Iran’s deputy oil minister for trade and international affairs, said Iran’s gas production would rise to 1 billion cubic meters a day by the end of the year from the current 800 million cubic meters per day (MMcm/d).
Genel Energy said net production averaged 37,700 barrels per day (bbl/d) of oil in the year to May 31, with average production from Taq Taq of 23,300 bbl/d, Reuters reported.
Amec Foster Wheeler will deliver engineering and design, overall program management and other support services for a new gas-oil separation train which will boost production by 300,000 barrels per day (bbl/d), the company said in a statement.
Saudi Aramco has selected WorleyParsons to provide project management and FEED services its Marjan Oil Field Development Program, the Australia-based engineering firm said in a news release.
Under the new contract, the Australian company will design and engineer new offshore facilities such as platforms and additional pipelines to link to a new gas facility in Tanajib on the Gulf coast and from Tanajib to the expanded NGL facility in Khursaniyah, one of the sources said.
Gazprom Neft is working on three oil projects in Iraqi Kurdistan, where it is mostly engaged in exploration. In Iraq, outside the Kurdish area, Gazprom Neft is involved in the Badra oil field, where it produces 77,000 bbl/d.
Concerns have grown that global access to Qatar's LNG could be cut especially after some Persian Gulf ports said they would not accept Qatari-flagged vessels.
The 10-year agreement builds on a three-year EPCM support contract delivery program that Petrofac undertook on behalf of PDO.