Abu Dhabi state fund Mubadala Investment Company's oil business Mubadala Petroleum has agreed to buy a 20 percent participating interest in Egypt's Nour North Sinai Offshore concession from Italy's Eni, it said on Monday.Egypt's main producer…
Russian state bank VTB did not finance the recent deal by Qatar to buy a stake in Rosneft and it is verifiable by looking at who has the oil giant's shares as collateral, Rosneft CEO Igor Sechin said on Wednesday.Reuters reported last week that…
Saudi Aramco Chief Executive Officer Amin Nasser said the initial public offering of the state-oil producer will 'certainly' happen when the conditions are right.Saudi Aramco said it is still in discussions to buy a stake in petrochemicals company Saudi Basic Industries Corp…
Energy firms could save an annual $73 billion within five years in oil and gas exploration and production by making better use of existing computing technology, energy consultancy Wood Mackenzie said.Exploration and production, known as the upstream industry…
The P-75 floating production, storage, and offloading unit (FPSO) has begun producing oil and natural gas in the Búzios 2 area of the pre-salt Santos Basin, Brazil's state-run Petroleo Brasileiro SA (Petrobras) said.With a daily capacity to process up to 150…
Seven remaining wells are expected to be online at Libya's Bahr Essalam offshore gas field by the end of the year, the Libyan National Oil Corporation (NOC) said in a statement on Sunday.The statement came after a meeting between NOC Chairman Mustafa Sanalla and Eni CEO Claudio Descalzi…
The Gulf of Mexico’s offshore oil industry appears to be climbing out of the latest downturn.Based on rig counts, well numbers, permitting data and information about sanctioned and expected projects, IHS Markit’s Bob Fryklund, vice president for upstream energy…
Norwegian based Reach Subsea said it has entered an agreement with Dubai headquartered Topaz Energy and Marine to charter newbuild light subsea construction vessel Topaz Tiamat for 2.5 years, plus three one-year options.The Norwegian-built vessel…
London-based E&P company Panoro Energy said its Norwegian subsidiary Panoro Tunisia Production has reached an agreement with OMV Exploration & Production GmbH to acquire 100 percent of the shares of OMV Tunisia Upstream GmbH.According to the Oslo-listed company…
NSSLGlobal signed a three-year contract with offshore support vessel provider Wind Energy Marine.The contract comprises the deployment of NSSLGlobal’s FusionIP VSAT terminal alongside its Oceanic Dynamics system aboard Wind Energy Marine’s new…
Israel will tender off 19 new offshore blocks to oil and gas companies, its energy ministry said on Sunday, hoping to rebound from a disappointing bidding round a year ago.Israel discovered in 2009 that it had large reserves of natural gas off its Mediterranean coast…
A decision by Petrobras not to invest in drilling new wells has derailed Chevron Corp's plan to resume exploration in a Brazilian offshore field, people familiar with the matter said.Chevron, which operates the field with a 52 percent stake…
Following years in the pricing doldrums, LNG is hot again, with business prospects for floating production and regasification looking strong through 2023. We talk to Jim McCaul of International Maritime Associates (IMA) for his insights, as…
A Turkish drilling ship will start operating in the Mediterranean Sea on Wednesday, 100 km (62 miles) off the coast of Antalya province, Energy Minister Fatih Donmez said, adding it would aim to open two drill holes annually.Donmez made the…
Will a rising tide in the offshore oil markets float all the boats? In the U.S. Gulf of Mexico, that remains to be seen.Offshore services, exploration and production are on a roll. In early October, yet another business combination of big drillers was announced…
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