Exclusives

Tool performs isolated negative inflow tests on liner tops and casing shoes.

opec_outputcuts_oil_russia_iran

Two-day marathon meeting leads to more bullish than expected oil output cuts by OPEC and its allies.

Amin Nasser said the program will attract investments of about US$150 billion over the next decade.

GlassPoint Solar, Occidental Petroleum, Occidental of Oman, Tunde Deru, Steve Kelly, steam, natural gas, gas, Petroleum Development Oman, EOR, solar, oil, production, California,

Occidental Petroleum’s Oman subsidiary is among the latest companies that have inked agreements with GlassPoint Solar, a technology company that uses solar energy to create steam to power EOR.

A new land rig design offers shale drillers 2,000-hp drawworks and reduced footprint.

Exploration

Iran has discovered oil in the southwestern Abadan region for the first time, Oil Minister Bijan Zanganeh was quoted as saying by the Mehr news agency on Jan. 23.

Saudi Aramco CEO Amin Nasser says his company is looking to acquire natural gas assets in the U.S. and is willing to spend "billions of dollars" there as it aims to become a global gas player.

Under the agreement, the two companies will work with the government of Oman toward the award of a new exploration and production-sharing agreement (EPSA) for Block 77 in central Oman, according to a news release.

Saudi Arabia's reserves of easily recoverable oil have long been the world's largest and despite almost 30 years of rising production have consistently remained around 261 billion barrels.

Libya's closed Sharara oilfield is expected to lose 8,500 barrels per day (bbl/d) to looting, state oil company NOC said Jan. 3.

Production

The growth in U.S. liquids production will be driven by major shale basins such as the Permian Basin in parts of Texas and New Mexico, a Rystad Energy report said.

U.S. oil producers sought on Jan. 23 to soothe OPEC's worries about losing market share, telling the group that investors in the U.S. firms wanted a reduction in growth and higher payouts.

Russia should not unleash an oil price war against the United States but rather stick with output cuts even at the cost of losing market share in the medium term, one of the main Russian architects of a production pact with OPEC said.

Qatar is preparing to issue a tender for energy firms seeking a stake in its gas expansion project, drawing interest from long-standing partners as well as newcomers.

South Sudan started pumping on Jan. 21 an additional 15,000 barrels per day (bbl/d) of crude oil from its Unity oilfields, its oil minister said.

Technology

Turkey has resumed imports of Iranian crude oil after a one-month hiatus in November when U.S. sanctions on Iran were reimposed, trading and shipping sources said.

Libya aims to more than double its oil production to 2.1 million barrels per day (MMbbl/d) by 2021 provided security and stability are strengthened in the conflict-stricken country, the chairman of state oil company NOC said on Jan. 6 in Benghazi.

Taliban fighters are threatening major oil wells near the northern Afghan city of Sar-e Pul following days of fighting in which dozens of members of the security forces have been killed and wounded, officials and residents said on Jan 4.

Proposed U.S. legislation known as "NOPEC" could open OPEC up to anti-trust lawsuits, which complicates plans for an OPEC+ format that would've included Russia, the country's energy minister says.

The United States has reached an agreement in principle with Iraq to extend for 90 days an exemption to sanctions against Iran, allowing Baghdad to keep importing Iranian gas that is critical for Iraqi power production.