Petrofac partnership awarded us$2.1 billion Abu Dhabi integrated gas development contract

• Tuesday, 28th July 2009
• by Egypt Oil & Gas

Petrofac, the international oil & gas services provider can confirm that its 50% owned Joint Venture, Petrofac Emirates, in partnership with GS E&C, has received a letter of award from GASCO for a contract worth approximately US$2.1 billion with a value to Petrofac Emirates of around US$1 billion.

Venezuela Agrees to Invest in Iranian Oil Blocks

• Monday, 27th July 2009
• by Egypt Oil & Gas

Venezuela has agreed to invest in the exploratory operations and development of 12 Iranian oil blocks, Iranian oil minister said on the sidelines of a seminar on Compressed Natural Gas (CNG) industry in Tehran.

Energy partnership extended – RWE Dea awarded licence in Turkmenistan

• Thursday, 16th July 2009
• by Egypt Oil & Gas

RWE Dea has been awarded a concession to explore and develop Licence Block 23 in the Caspian Sea in Turkmenistan. An agreement to this end was signed today by Dr. Jürgen Großmann, CEO of RWE AG, and Dr. Georg Schöning, CEO of RWE Dea AG, with the Turkmenian State President Gurbanguly Berdimuhamedow in Turkmenbashi.

Gulf Keystone seeks buyer for Hassi Ba Hamou Permit in Algeria

• Wednesday, 15th July 2009
• by Egypt Oil & Gas

Gulf Keystone is seeking a buyer for its interest in the Hassi Ba Hamou Permit in central Algeria. A sale of Gulf Keystone's interest in the Permit is subject to approvals from the Algerian Government and the Company's partners, Sonatrach and BG North Sea Holdings Limited ("BG").

OPEC Oil price nearly $9 below end-of-June level

• Tuesday, 14th July 2009
• by Egypt Oil & Gas

The oil price of the Organization of the Petroleum Exporting Countries (OPEC) fell for the seventh straight day of trading Thursday, shedding a total of $8.98 since the end of June, according to figures released by the group on Friday.

Iraq boosts Nabucco supply plans

• Tuesday, 14th July 2009
• by Egypt Oil & Gas

Iraq's Prime Minister Nuri al-Maliki said today Europe can receive 15 billion cubic metres of Iraqi gas via Turkey.

US says Russia can supply gas to Nabucco

• Tuesday, 14th July 2009
• by Egypt Oil & Gas

Russia is free to supply gas to the Nabucco pipeline and countries participating in the project must accept it as a partner, the US special energy envoy said.

Mideast fuel oil prices up on demand

• Sunday, 12th July 2009
• by Egypt Oil & Gas

Middle East fuel oil prices rose $1.75 a ton this week amid peak summer demand while cuts in refinery operation rates globally limit fuel oil production.

Oxy, CNR bid for onshore Bahrain Gas E&P contract

• Thursday, 9th July 2009
• by Egypt Oil & Gas

Bahrain Petroleum Co., or Bapco, is evaluating two bids on behalf of the National Oil and Gas Authority, or NOGA, received last month for a deep gas exploration and production sharing contract under tender for onshore Bahrain, a senior company official said.

China Oil Cos eyeing Iraq’s 2nd round oil, gas auction

• Wednesday, 8th July 2009
• by Egypt Oil & Gas

China's state-owned oil companies are eyeing a second round of auctions of major untapped oil and gas fields in Iraq later this year, but commercial terms are still key, said top executives with the companies.