Dana Gas Reports 85% Drop in Profit from Year Earlier
The UAE-based Dana Gas announced an 85% drop in profit compared to last year,
Bapetco Increases Production to 132,600 B/D, Adds 5M in Oil Reserves
The chairman of Badr El Din Petroleum Company (Bapetco), a joint venture between the EGPC and Royal Dutch Shell, recently announced the addition of exploratory well Bed3C6-1 to production, Daily News Egypt
Israel Still Struggling to Produce Gas from Mediterranean
Despite promising signs, Israel is still struggling to produce large amounts of natural gas from its Mediterranean fields, says Reuters.
Bill Introduced to Open Up Additional Gulf of Mexico Area to Drilling
The US Senate voted on a bill to allow additional oil drilling off the Florida coast, lifting a former moratorium on drilling within 50 miles of the coast, reported ABC News.
Subsea 7 Awarded $500m Contract in Egypt
The work scope includes the engineering, procurement, installation and pre-commissioning of subsea infrastructure required to develop the hydrocarbon resources from nine wells including 75 km of umbilicals and 100 km ...
Algeria Increases Oil Production by 32,000 b/d
OPEC member Algeria has increased crude oil output by 32,000 barrels per day after starting production at two fields, an energy ministry official said on Sunday.
Magapetco Plans Investments for its Hurghada Concession
Chairman Magawish Petroleum Company (Magapetco), Hamdi Hanafi, affirmed that his company’s investment plan for the 2015/2016 fiscal year includes pumping investments of over EGP 70m into its Hurghada concession area.
Chevron Boosts Efficiency Even as Profits Slide
For Chevron Corp., a dollar spent in the Permian Basin can get 35 percent more oil out of the ground than it could last year, as drilling costs have fallen and as the company works faster on more fertile wells.
Ghana and Suriname Offshore Blocks Progressing
Tullow Oil says its three-field TEN development project offshore Ghana is around 65% complete and on schedule for first oil in mid-2016.
