Omani Galfar Wins $95 M Contract with BP for GGS
The contract term is for 33 months starting from March 15, 2018, including mobilization and is valued circa $95 million.
News / International
Russia, Iran Sign $740 M Development Agreement
The NIOC signed a $740 million agreement with a Russian-Iranian consortium to develop two oil fields near the Iraqi border.
Total Eyes Downstream Projects with ADNOC
Total recently won a deal with ADNOC for two stakes in Umm Shaif and Lower Zakum respectively worth a total of $1.45 billion.
Iran Nearly Doubles Gas Production at South Pars: Rouhani
Irani President Hassan Rouhani stated that gas production increased from 285 mcm to 555 mcm over the past Iranian calendar year.
PDO Announces New Gas Find in Oman
Exploratory drilling took place at a depth of 5,000 meters, the commercial flow rates at the reservoirs tested at 1.2 mcm/d after fracturing.
Construction Begins on Aramco Shipyard
Construction has begun on Saudi Aramco joint venture shipyard on Saudi Arabia’s eastern coast following the agreement for a loan from the Saudi Industrial Development Fund (SIDF).
ADNOC, Total Sign $1.45 B Agreement
Total now holds 20% of the Umm Shaif and Nasr concession and 5% of the Lower Zakum concession, together worth an approximate $1.45 billion.
Eni Plans to Reduce Oil Output from Libya
Eni’s oil production in Libya will be reduced from 320,000 b/d to 200,000 b/d, Eni CEO, Claudio Descalzi stated.
Iran not to Increase Crude Output in Coming FY
Iran has no plans to increase its annual crude oil output in the next fiscal year (FY) starting March 21.
Saudi Crude Exports to Remain Below 7 mb/d
The Saudi Arabian Ministry of Energy has announced that crude exports will remain below 7 million barrels per day (mb/d) and crude production will stay under 10 mb/d during April 2018.
