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Petrofac to establish Petrogas NEO UK’s new North Sea operations

Petrofac to establish Petrogas NEO UK’s new North Sea operations

Petrofac has been selected by Petrogas NEO UK – a jointly owned company created by Petrogas E&P UK, and NEO Energy. Company announces a new contract and the award of an additional scope of work with Petroleum Development Oman (PDO). Petrofac, in a joint venture (JV) with the State Oil Company of the Republic of...

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Exxon expands Eastern Mediterranean offshore holdings

Exxon expands Eastern Mediterranean offshore holdings

ExxonMobil has secured more than 1.7 million acres for exploration offshore Egypt. Increases polyethylene plant production capacity by 65 percent or 650,000 tons-per-year. It acquires more than 1.7 million acres offshore Egypt. Mako-1 well is located southeast of the Liza field on the Stabroek Block, which began producing oil Dec. 20, 2019. Production for Liza...

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Aramco valuation falls short of crown prince’s $2 trillion target

Aramco valuation falls short of crown prince’s $2 trillion target

Saudi Arabia put a valuation on state-owned oil giant Aramco of between $1.6 trillion and $1.71 trillion. Saudi Aramco recently honored a number of local manufacturers distinguished for offering high-quality products. $2 trillion target sought by Crown Prince Mohammed bin Salman since he first mooted an initial public offering in 2016. Saudi Aramco is participating...

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BP invests in carbon-offset monetization firm

BP invests in carbon-offset monetization firm

BP Ventures has invested $5 million in Finite Resources Inc, parent company of Finite Carbon, a US-based forest carbon management company. BP recently announced a new joint venture with US agri-commodities company Bunge. Innovative enhanced recycling technology capable of processing PET plastic waste which currently goes unrecycled. The investment will enable Finite Carbon to grow...

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Neptune Energy taps Valaris jackup for Seagull development

Neptune Energy taps Valaris jackup for Seagull development

Neptune Energy and its joint venture partners BP and JAPEX announced Valaris has been awarded a contract. The merger of Neptune Energy Norge with VNG Norge creates a strong platform with a broad operating skillset. Eko Lumadyo joins the company as Managing Director of the Indonesian business. The Company earns four licences as operator and...

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Hess taps Petrofac to decommission four Central North Sea wells

Hess taps Petrofac to decommission four Central North Sea wells

Petrofac has been awarded a well plugging and abandonment contract with leading independent energy company. Petrofac facilities management has secured a contract to provide engineering. Petrofac’s Engineering & Production Services (EPS) business has been awarded a three-year Operations & Maintenance Support Services. Company hess Limited, a wholly owned subsidiary of Hess Corporation. The BorWin3 offshore...

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Neptune Energy to acquire interests in German fields from Wintershall Dea

Neptune Energy to acquire interests in German fields from Wintershall Dea

Neptune is an independent global E&P company and, having completed the acquisition of the exploration. The business had production of 160,500 net barrels of oil equivalent per day. The Company founded by Sam Laidlaw, is backed by CIC. The North Sea, where both wind and natural gas are abundantly available. It’s the first three quarters...

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NPCC and Petrofac JV awarded offshore contract by Al Yasat Petroleum

NPCC and Petrofac JV awarded offshore contract by Al Yasat Petroleum

National Petroleum Construction Company and JV partner Petrofac, have secured a new contract. NPCC has many projects from Saudi Aramco, Kuwait and India, its main markets, al Dhaheri added. Schneider electric is a leader in digital transformation of energy management and automation. The company is targeting revenues of 7 billion dirhams in 2019. Al Yasat...

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Wintershall Dea taps ConocoPhillips’ shale expertise in Argentina agreement

Wintershall Dea taps ConocoPhillips’ shale expertise in Argentina agreement

Wintershall Dea has signed a Sales and Purchase Agreement with ConocoPhillips. Cash flows in the German natural resources sector are transparent. Recent merger of Wintershall and DEA formed Europe’s leading independent gas and oil company. It develop the Aguada Federal and Bandurria Norte blocks in the central Argentine province of Neuquen. The collaboration and research...

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DNO awarded two new exploration licenses on UKCS

DNO awarded two new exploration licenses on UKCS

DNO ASA is the Norwegian oil and gas operator. DNO withdrew its request for seats on the board of Faroe Petroleum. DNO ASA announced that the Peshkabir-2 well located in the Kurdistan region of Iraq. DNO is to study the development of an oil field in Iran. Norwegian oil and gas operator DNO ASA has...

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