Mozambique has about 85 trillion cubic feet of gas reserves--enough to supply Germany, Britain, France and Italy for nearly two decades, Reuters reported.

Shell will agree on Dec. 7 to develop a major Iranian oil field, the Wall Street Journal reported, citing an Iranian oil ministry spokeswoman.

Athens tendered 20 offshore blocks in 2015 in the Ionian Sea and south of the island of Crete for deepsea oil and gas drilling, and unsealed the offers in February, Reuters reported.

Mozambique officials expect more than $30 billion will be invested initially in the natural gas sector, Reuters reported.

If successful, the blocks could generate up to $4 billion worth of investment each, and as much as $11 billion in the case of Trion, Joaquin Coldwell said, citing Pemex estimates.

Under the terms of the contract, Jacobs is delivering a FEED package and detailed engineering for the Vito host platform topsides.

A purchase and sale agreement relating to each block must be submitted to Ecopetrol by Dec. 7 and executed by Dec. 22, Reuters reported.

The two neighboring countries have already signed a deal to exchange older seismic data from the border zone, Reuters said.

The Sonatrach-Cepsa contract for Ourhoud was due to expire in 2019, the statement said. The agreement was signed by Sonatrach chief Amine Mazouzi and Cepsa CEO Pedro Miro Roig.

Rowan will supply two more rigs in late 2018 and Saudi Aramco will make a matching cash contribution, Reuters reported.

The project is due to commence in first-quarter 2017 and will run for about six weeks.

Technip Umbilicals facility in Houston will manufacture the project for the high pressure field, which is scheduled to be completed in 2017.