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BP to Acquire 10% Stake in Abu Dhabi’s ADCO Onshore Oilfield Concession for $2.2 Billion
December 21, 2016
British oil and gas giant BP has signed a $2.2bn deal with state-run Abu Dhabi National Oil Company (ADNOC), to buy 10 percent interest in Abu Dhabi’s onshore oilfield concession. As part of the deal, which was signed with Supreme
Engie and Partners Start Gas Production from $1.6 Billion Cygnus Field, UK North Sea
December 21, 2016
Engie E&P UK and its partners have commenced gas production from the £1.3bn ($1.6bn) Cygnus field development located in license areas P1055 & P1731, 150km off the coast of Lincolnshire. The field, which is expected to contribute 5 percent of
Asian Development Bank Grants $400 Million Loan for Tangguh LNG Expansion, Indonesia
December 21, 2016
The Asian Development Bank (ADB) has granted $400m financing to fund the expansion of the Tangguh LNG production facility in the Papua Barat Province of Indonesia. The expansion project will add 3.8 million tons per annum (mtpa) of liquefaction capacity
Vestmoldtransgaz Secures Funding for Natural Gas Pipeline Project Between Moldova and Romania
December 21, 2016
The European Union, the European Investment Bank (EIB) and the European Bank for Reconstruction and Development (EBRD) have granted €92m to fund the the construction of a natural gas pipeline from Romania to Chisinau, Moldova. The financing package, which includes
World Bank Units Grant Financing for $7.7 Billion Sankofa Oil-Gas Project, Offshore Ghana
December 21, 2016
The International Finance Corporation (IFC) and Multilateral Investment Guarantee Agency (MIGA) have granted $517m in debt and guarantee to fund the development of the $7.7bn Sankofa Gas Project in Ghana. The Sankofa field is an integrated offshore oil and natural
Centrica Signs LNG Sales and Purchase Agreement with JERA
December 16, 2016
Centrica has signed a five year sales and purchase agreement (SPA) with Japanese utility JERA, the world’s largest buyer of liquefied natural gas (LNG). Under the terms of the SPA, which commences in April 2019, Centrica will purchase up to
Netherlocks and Smith Flow Control Merge and Form Sofis Valve Operation
December 16, 2016
Netherlocks and Smith Flow Control reveal new corporate identity. Two of the valve operation industry’s leading brands have joined forces under a new name. Netherlocks and Smith Flow Control have combined to form Sofis, a bigger, stronger, market-led company. Sofis’s
Shell Begins Oil Production from Malikai Field, Offshore Malaysia
December 16, 2016
Shell has commenced oil production from the Malikai field located approximately 100km off the coast of Sabah, Malaysia. The field, which is part of the Deepwater Block G where oil was discovered in 2004, is the Shell’s second deep-water project
MOL Group Increases Production Capacity in TAL Oil Block, Pakistan
December 16, 2016
MOL Group announces the successful tie-in of its Mardan Khel-1 exploration well at the MOL operated TAL Block in Pakistan, bringing the block’s total production to nearly 90,000 barrels of oil equivalent. MOL Group announced the discovery from the exploration
Energean Receives Acquisition Approval for Karish and Tanin Natural Gas Fields, Offshore Israel
December 15, 2016
Energean Oil & Gas has received approval for the acquisitions of the Karish and Tanin Natural Gas Fields from Delek Drilling and Avner. The transaction, estimated to be valued at $148 million, is being implemented as part of the Israeli
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