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ExxonMobil adds 4.5 billion barrels to reserves

ExxonMobil adds 4.5 billion barrels to reserves

February 27, 2019 No Comments

Exxon Mobil Corporation said today it added 4.5 billion oil-equivalent barrels of proved oil and gas reserves in 2018, replacing 313 percent of the year’s production. Higher prices and unconventional drilling drive proved reserves additions Reserves life at current production rates is 17 years Continuing success in exploration and strategic acquisitions in Guyana and Brazil […]

DNO’s 100 Percent Reserves Replacement in 2018

DNO’s 100 Percent Reserves Replacement in 2018

February 11, 2019 No Comments

DNO ASA, the Norwegian oil and gas operator, today announced it replaced 2018 production through additions to reserves, marking the second consecutive year in which the Company’s replacement of proven reserves reached or exceeded 100 percent of production. “DNO’s stellar record of reserves replacement through the drill bit is a result of stepped up spending […]

IMF Staff Completes Mission to Sierra Leone

IMF Staff Completes Mission to Sierra Leone

October 2, 2018 No Comments

An International Monetary Fund (IMF) team led by Brian Aitken visited Freetown from September 18-October 2, 2018, to initiate discussions on a possible Extended Credit Facility arrangement that could be supported by the IMF.[1] At the end of the visit, Mr. Aitken issued the following statement: “The economic environment remains challenging, with output growth still […]

Eni Extends Lease for Key Assets in Egypt Nile Delta

Eni Extends Lease for Key Assets in Egypt Nile Delta

August 14, 2018 No Comments

Eni announces that Egyptian Authorities have authorized a new Nile Delta Concession Agreement allowing a ten-year extension of the Abu Madi West Development Lease (203 km2), where the Nooros field is located, and the execution of further exploration activities within El Qar’a Exploration Lease (64 km2). These assets are located in the “Great Nooros Area”, […]

ADNOC Awards US $1.6bn Contracts to CNPC Affiliate

ADNOC Awards US $1.6bn Contracts to CNPC Affiliate

July 19, 2018 No Comments

The Abu Dhabi National Oil Company (ADNOC) has awarded contracts worth AED 5.88bn (US $1.6bn) for the world’s largest continuous 3D onshore and offshore seismic survey, covering an area up to 53,000 square kilometres, as the company continues to identify and unlock new opportunities and maximize value from its hydrocarbon resources and deliver on its […]

Aker Solutions Wins Troll FEED Contract With EPCI Option From Statoil

Aker Solutions Wins Troll FEED Contract With EPCI Option From Statoil

September 21, 2017 No Comments

Aker Solutions won a contract from Statoil for front end engineering and design of a module that will increase output at Troll, one of Norway’s largest natural gas fields. The order includes an option for engineering, procurement, construction and installation of the module, which will receive and process gas from the Troll West field before […]

Rosneft and Beijing Gas close Verkhnechonskneftegaz deal

Rosneft and Beijing Gas close Verkhnechonskneftegaz deal

June 30, 2017 No Comments

Rosneft and Beijing Gas Group Company Limited (“Beijing Gas”) closed the deal for sale and purchase of 20% shares in Verkhnechonskneftegaz (a Rosneft subsidiary). The price of purchased 20% stake amounted to around USD 1.1bln. As a result of the transaction, the parties are going to create a vertically integrated system of cooperation. The Chinese […]

NNPC Sets up Information Technology Governance Bodies

NNPC Sets up Information Technology Governance Bodies

June 8, 2017 No Comments

The Group Managing Director of the Nigerian National Petroleum Corporation, Dr. Maikanti Baru, has said that NNPC was on the fast lane to attain efficiency and competitiveness through reliance on Information Technology. Dr. Baru, who spoke during the inauguration of the corporation’s Information Technology Governance Bodies in Abuja today said IT would enable the corporation […]

GE Signs Multiyear Agreement to Upgrade Gas Turbines in Tanzania

GE Signs Multiyear Agreement to Upgrade Gas Turbines in Tanzania

June 2, 2017 No Comments

GE’s Power Services (NYSE: GE) and Songas Ltd. have signed a multiyear service agreement (MYA) to upgrade equipment at Songas’ Ubungo Power Plant in Dar es Salaam, Tanzania. The MYA encompasses GE’s Fleet360* platform of total plant solutions, helping Songas ensure the long-term, reliable operation of its power plant. The upgrades will help Songas increase […]

Cenovus to double production and reserves in Canada

Cenovus to double production and reserves in Canada

March 30, 2017 No Comments

Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) has agreed to acquire ConocoPhillips’ 50% interest in the FCCL Partnership, the companies’ jointly owned oil sands venture operated by Cenovus. Cenovus is also purchasing the majority of ConocoPhillips’ Deep Basin conventional assets in Alberta and British Columbia. Combined, these assets have forecast 2017 production of approximately 298,000 […]

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