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Argentina Reaches Deal to Bring Investments for Vaca Muerta Shale Formation
January 20, 2017
The Government of Argentina announced that it has reached a deal with labor unions and energy firms in a bid to attract investments to develop the Vaca Muerta shale gas and oil formation in Patagonia. The formation, which is about
Wood Mackenzie Report: Global Upstream Oil and Gas Investments to Rise to $450 Billion in 2017
January 18, 2017
Investments in the global upstream oil and gas industry projects are projected to rise by 3 percent to $450bn in 2017, according to a report by research and consultancy group Wood Mackenzie. The research firm forecasts the investment cycle to
Total to Acquire Additional Stake in Lake Albert Oil Project for $900 Million, Uganda
January 13, 2017
Total has signed an agreement to acquire an additional 21.57 percent interest from Tullow in the Lake Albert oil project in Uganda for $900m. As per the deal, Tullow will transfer 21.57 percent of its 33.33 percent interests in Lake
Summit Group Secures Contract to Build $500 Million LNG Terminal, Offshore Bangladesh
January 13, 2017
Summit Group has bagged a contract from Petrobangla to construct a floating liquefied natural gas terminal on Moheshkhali Island in Cox’s Bazar in Bangladesh. The project will be built with an investment of about $500m. After signing of the final
EDF Commences Commercial Operations at Dunkirk Regasification LNG Terminal, France
January 13, 2017
French electric utility company EDF Group’s regasification terminal at Dunkirk in France has commenced its commercial operations to deliver liquefied natural gas (LNG). The Dunkirk regasification terminal which will import, store and regasify LNG before delivering it to consumption places
Qatargas Begins Commercial Operations at Laffan Refinery 2, Qatar
January 11, 2017
Qatargas has announced the start-up of commercial operations at Laffan Refinery 2, marking the expansion of its refining capacity in Qatar. The project, which is located in the Ras Laffan Industrial City, has a refining capacity of 146,000 barrels per
Technip Awarded Service Contract for New Gas and Petrochemical Complex in Azerbaijan
January 10, 2017
Technip has been awarded a service contract by SOCAR GPC for the ethylene and cryomax technology licenses respectively for a petrochemical complex and for the NGL recovery section of a gas processing plant, which is part of a new gas
Fluor Awarded EPC Contract Biobío Refinery, Chile
January 10, 2017
Fluor Corporation has been awarded a contract by Empresa Nacional del Petróleo (ENAP) for the engineering, procurement and construction of a new process unit at its Biobío refinery in Chile. Fluor will perform the engineering, procurement and construction services to
AkerBP Begins Production at $3.2 Billion Ivar Aasen Oil Field, Norwegian North Sea
January 6, 2017
AkerBP and partners have commenced production from the NOK26.9bn ($3.2bn) Ivar Aasen field in the Norwegian North Sea. The field is operated by AkerBP with 34.7862 percent interest. Other partners include Statoil Petroleum with 41.4730 percent stake, Bayergas Norge 12.3173
South Korean Oil Refiner SK Innovation to Invest $2.5 Billion to Bolster Growth
January 6, 2017
South Korea’s oil refiner SK Innovation is set to invest KRW3tn ($2.5bn) to boost its global growth by expanding its oil exploration, chemicals and battery businesses. The owner of SK Energy, one of South Korea’s leading refineries, SK Innovation will
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