Iran Discovers Field with 53 B Barrels of Crude Oil
Iran has discovered a new oil field with proven reserves of around 53 billion barrels of crude oil, Iranian President Hassan Rouhani announced on November 10.
News / International
Shearwater to Execute Eastern Mediterranean 3D Survey
Shearwater GeoServices Holding AS (Shearwater) announced that it has been awarded a 3D seismic survey in the Eastern Mediterranean, noting that the one-month survey will be executed in the fourth quarter of 2019.
TAQA’s Net Profits Dip 54% in 9 Months
Abu Dhabi National Energy Company (TAQA) announced that the consolidated net profit for the nine-month period ended September 30, 2019, was negatively impacted by unfavorable mark-to-market movements generated by an energy price reduction and the reimplementation of the regional greenhouse gas initiative in New Jersey which impacted Red Oak, the Group’s US-based power asset, citing Emirates News Agency.
ADNOC to Convene CEO Roundtable
Sultan bin Ahmad Sultan Al Jaber, UAE’s Minister of State and ADNOC Group CEO, has invited thirty of the world’s leaders of the oil, gas, and petrochemical industry to gather on November 10, 2019, in Abu Dhabi.
Saudi Aramco to Reduce Gas Flaring to Zero by 2030
Saudi Aramco announced that it was joining the World Bank (WB)'s initiative to reduce gas flaring to zero by 2030, noting that its flaring was already less than 1% of its total raw gas production in the first half of 2019, Zawya reported on November 6.
Masirah Oil Awards Drilling Rig Contract
Masirah Oil Limited, the owner of the Block 50 concession off Oman’s eastern seaboard, has awarded a drilling rig contract to Foresight Offshore Drilling Limited.
Sound Energy to Partly Sell Eastern Moroccan Assets
Sound Energy inked a non-binding heads of agreement with a UK company to sell 51% of its Eastern Moroccan assets for $112.8 million.
Evonik to Bring Its Innovative Solutions to ADIPEC
Evonik announced in an official statement its participation for the second year in a row at the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC), which will be held November 11–14, 2019, at the Abu Dhabi National Exhibition Center (ADNEC).
Kuwait, Saudi Close to Neutral Zone Final Signing
Kuwait’s Deputy Foreign Minister, Khaled Al Jarallah, said that positive consultations with Saudi Arabia regarding the Neutral Zone are continuing, noting that the two parties are looking forward to the final signing as soon as possible.
NBK, KFH Arrange $1.2-B Facility for KPC
National Bank of Kuwait (NBK) and Kuwait Finance House (KFH) have arranged a five-year loan and Murabaha facility at $1.2 billion for Kuwait Petroleum Corporation (KPC).
