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Recent windfalls generated through taxes and the kingdom’s “anti-corruption purge” has triggered further speculation about the future of Saudi Aramco’s IPO.
Total CEO Patrick Pouyanne and BP’s Group Chief Executive Bob Dudley shared insights on how their companies found opportunities in in the downturn.
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.
With round one under its belt, Mexico is ready to unleash more of its coveted resources to foreign investors with another deepwater auction set for this year.
Aiming to maintain market share, Qatar Petroleum lifted its self-imposed moratorium on the world’s largest natural gas field after more than a decade.
The award includes the novation of substantial CRA linepipe and long lead items contracts.
The two companies also signed a product-sharing agreement for Ashrafi, Dan-Ulduzu and Aypara exploration area.
The contract will improve the economics of Saudi Aramco’s unconventional resources program, Aramco said in a statement.
Iran signed a preliminary deal on May 16 for a consortium of international companies to develop an oil field, the first such contract since Washington withdrew from a nuclear agreement and said it would reinstate sanctions on Tehran.
Iraq’s state-run North Oil Co. (NYSE: NOG) signed an agreement with BP (NYSE: BP) on May 7 to triple output from the Kirkuk fields in the north of the country.
Industry sources told Reuters last year that Aramco was operating about 212 oil and gas rigs, a level it had kept steady since 2015. That number did not include rigs used to drill water wells.
Saudi Aramco is now operating around 212 oil and gas rigs; which is a level it has kept steady since 2015. That number does not include water rigs.
Contract is in scope of Jereh Oilfield Services Group, the Chinese licensing partner. Ben Van Bilderbeek, CEO, said POS-GRIP’s safety and time savings were evaluated against traditional slip and seal systems.
Installation of two jackets in the Bul-Hanine Field offshore east of Doha has been scheduled to be completed by December 2016 with the remaining two scheduled for completion in July 2017. The total weight of all four structures combined is 3,495 tons.
All terms and conditions of the contract remain in full force and effect for the rest of the five-year term of the contract, according to Hercules offshore.
Libya's National Oil Corp. (NOC) said on July 5 that production had started at the first well in the Bahr al-Salam Phase 2 project in the country’s largest offshore gas field.
The new JV between Saudi Aramco and National Oilwell Varco, known as NOV, aims to produce 10 onshore rigs per year, Aramco said.
Saudi Aramco, the world's third-largest crude oil producer, is producing about 10 million bbl/d and has the capacity to produce 12 million bbl/d, says the company's CEO, Amin Nasser.
The possible withdrawal of French oil major Total from Iran's South Pars gas field has not slowed down the project, a senior Iranian official said, adding that Tehran is in talks with Russia’s Gazprom over the development of two other fields.
Lukoil completed the construction and commissioned the third well at the second development stage of the Vladimir Filanovsky field in the Caspian Sea, the company said on June 15.
The board of directors of SeaBird Exploration Plc has appointed Hans Petter Klohs as its new CEO of the company on June 24.
Khalid al-Dabbagh was named acting service line head for finance, strategy and development at the world’s largest oil producer, taking over on an interim basis from Abdallah al-Saadan, who was senior vice president of the department, the sources said.
Saudi Aramco said on April 29 it has appointed new members to its board including a female executive, a milestone for Saudi Arabia and the oil industry where there are few women executives.
UTEC has been awarded geophysical survey contracts in Saudi Arabia in conjunction with it’s in Kingdom partner, Zamil Offshore, the company said January 2018.
Kuwait replaced its oil, finance and defense ministers in a cabinet reshuffle on Dec. 11, state news agency KUNA reported.
Iran is studying ways to keep exporting oil and other measures to counter U.S. economic sanctions, state news agency IRNA reported on June 30.
The OPEC council responded negatively to Iran’s plea to support it against new U.S. sanctions, a source familiar with the matter told Reuters.
Iran's oil exports hit 2.7 million barrels per day (MMbbl/d) in May, the oil ministry's news agency SHANA reported on June 2, a new record since the lifting of international sanctions on Tehran in 2016, and despite the threats of fresh U.S. sanctions.
The United States plans to impose new sanctions on Iran after pulling out of a 2015 agreement between Iran and major world powers to limit Tehran’s nuclear ambitions.
It was not clear whether CNPC had received top government approval to do so. But such a move could further strain the tense trade relationship between Beijing and Washington.