CNPC affiliate will complete seismic survey studies onshore and offshore Abu Dhabi by 2024
Abu Dhabi National Oil Company has awarded one of the world’s largest seismic surveys for hydrocarbons assets to a unit of China National Petroleum Corporation as the UAE looks to engage its biggest consumers in exploration.
BGP, a subsidiary of state-owned CNPC, was awarded contracts associated with the surveys onshore and offshore the emirate in a deal estimated to be worth Dh5.88 billion, Adnoc said on Thursday.
“The scale of the project shows our commitment to upstream investment and to bolstering our oil and gas reserves and production for the long-term,” said Adnoc group chief executive Dr Sultan Al Jaber.
“The award, following a highly competitive bid process, also represents another key milestone in Adnoc’s thriving partnership with CNPC as well as the UAE’s strategic energy partnership with China."
LONDON & HOUSTON--(BUSINESS WIRE)--Jul. 18, 2018-- Baker Hughes, a GE company (NYSE: BHGE) today announced an agreement to sell its Natural Gas Solutions (NGS) business to two separate entities, First Reserveand Pietro Fiorentini S.p.A., for a combined value of $375 million. NGS is part of BHGE's Turbomachinery & Process Solutions (TPS) segment, providing commercial and industrial products such as gas meters, chemical injection pumps, pipeline repair products and electric actuators.
The transactions consist of the following:
BHGE has agreed to sell its NGS product line to First Reserve, a leading global private equity investment firm, focused exclusively on energy. This transaction includes the transfer of approximately 450 employees located in eight countries, including three manufacturing sites in North America and the United Kingdom.
In a separate transaction, BHGE has agreed to sell the Talamona branch of its NGS product line to Pietro Fiorentini S.p.A. The transaction includes the transfer of approximately 40 employees and a manufacturing site in Talamona, Italy.
Russia is getting ready to invest US$50 billion in Iran’s oil and gas industry as the two countries continue to seek closer ties, just as the United States is looking to cut as much Iranian crude oil exports from the market as possible.
“Russia is ready to invest $50bn in Iran’s oil and gas sectors,” according to Ali Akbar Velayati, Senior Adviser for International Affairs of the Supreme Leader of the Islamic Republic.
Velayati was on a visit to Moscow that included a meeting with Russian President Vladimir Putin.
“Military and technical co-operation with Russia is of major importance to Iran,” Velayati said.
“The discussion focused on Russian-Iranian cooperation issues as well as the situation in the region, including developments in Syria. The parties reaffirmed their commitment to the Joint Comprehensive Plan of Action on Iran’s Nuclear Deal (JCPOA),” the Kremlin said in a brief statement on the meeting on Thursday.
Eni and Algerian state-owned company Sonatrach have signed an agreement to combine the existing assets of BRN (block 403) and MLE (block 405b) in Algeria with an objective to create a gas hub in Algeria’s Berkine basin.
The Italian oil and gas firm said that the agreement, which is part of the Framework Agreement signed with Sonatrach in April 2017, aims at relaunching exploration and development in the Berkine basin. The ambitious program will see streamlining of existing infrastructures and placing them in synergy with the newly built ones.
According to Eni, the new infrastructure to be constructed includes a 180km line that will quickly link BRN with MLE’s assets, thereby transforming it into the main gas hub of Berkine basin.
Eni CEO Claudio Descalzi said: “This is a further step forward in the strategic expansion of our upstream activities in Algeria and in Eni’s renegotiation of long-term gas supply contracts.
“It also demonstrates a strong spirit of collaboration between SONATRACH and Eni, from exploration to the development of new projects in gas and renewable energy “.
Petrofac, in a joint venture (JV) with Turkish Standards Institution (TSE), has secured a three-year multi-million dollar Project Management Consultancy (PMC) services contract in support of the BOTAŞ North Marmara Underground Gas Storage Expansion Project (Phase III) in Turkey.
The existing facility, located approximately 60 kilometres west of Istanbul, has been in operation since 2007 and BOTAŞ intends to expand its working gas capacity to 4.6 billion cubic metres. The TSE Petrofac JV is responsible for managing and supervising areas which will cover the main phases and scopes of work. These include detailed design, engineering, procurement, construction, drilling and decommissioning, along with commissioning and start-up activities.
Wednesday, 18th July 2018
The 15th well of the Nooros gas field has started production, MENA reported quoting oil minister Tarek El Molla.
The new well, called Nedoko Southwest 3, is expected to produce 180 million cubic feet of natural gas and 1,500 barrels of condensate per day.
Nedoko Southwest 3 will allow production from the Nooros field to remain steady at 1.2 billion cubic feet per day, Enterprise wrote.
Russian oil company Lukoil has published tenders for two projects at its West Qurna-2 oilfield.
Lukoil reported this on July 20, 2018
Russian oil company Lukoil has published tenders for two projects at itsWest Qurna-2 oilfield:
- Decentralised Water Injection Facilities;
- Gas Turbine Power Plant Expansion.
Interested companies have until 23rd July to apply for documents, and bids will be accepted until 23rd August.
Companies acting as Bidders shall meet the following minimal qualification requirements specified in Tender Documentation, including:
- to have experience during the last 12 years under at least 2 completed EPC projects within oil & gas industry as a main (EPC) contractor, with a value of each project not less than 30,000,000 US Dollars;
- to have experience during the last 12 years in execution of EPC projects within oil & gas industry as a main (EPC) contractor in MENA region;