Work on the contract, which is for brownfield work in various fields offshore Saudi Arabia, is expected to be executed through the second quarter of 2018.
A state oil firm loyal to Libya's official government invited foreign oil firms to discuss existing oil purchase contracts at September conference in Dubai, according to a statement, Reuters reported.
Pacific Exploration and Production Corp., formerly Pacific Rubiales Energy Corp., received a two-year service contract to develop oil Block 192 from state-owned Perupetro, Reuters said.
Saudi Arabia could pump 50 million cubic feet per day of shale gas in 2016, Reuters reported. Unconventional gas potential was appraised in the northwest, Eastern Province and Empty Quarter.
Mahdia covers 3,024 sq km and contains the El Mediouni structure. The well hit oil shows in the Ketatna (Oligo-Miocene) carbonates. The permit will be extended for three years.
The two blocks are in the Pearl River Mouth Basin. Block 16/07 covers 2,743 sq km in about 100m of water. Block 03/33 covers 2,367 sq km in 65m to 145m of water.
Manufacturing and testing will take place at OneSubsea’s processing center of excellence facility in Horsøy, Norway, OneSubsea said in a news release.
The survey will begin in September 2015 and cover blocks IV and V in central Mongolia, Bell Geospace said in a news release.
The award represents Wood Group PSN's first major contract in Gabon and will provide employment opportunities for about 200 Gabonese nationals, Wood Group said in a news release.
The contracts are for Talisman Energy's Ca Rong Do Field offshore Vietnam. The field is estimated to contain about 67 million barrels of oil equivalent, Wood Group said in a news release.
Prosafe said the contract, which begins in first-quarter 2017 with a firm period commitment of three years, will be the first for the Safe Eurus, a vessel designed and built to service the Brazilian market.
Petrobras’ debt and weak finances limit its ability to finance 30% of all new subsalt projects and run them as operator, Reuters said. This lessens subsalt development chances, critics say.