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European Commission Invests $209 Million in First Estonia-Finland Natural Gas Pipeline Project
August 19, 2016
The European Commission has allocated €187.5m ($209.7m) for the construction of gas pipeline between Finland and Estonia in a bid to unite the energy markets. The first Estonia-Finland gas pipeline, Balticconnector, is designed to create a regional gas market in
August 25: Saudi Government, Business Leaders Gather in Calif. to Promote Partnership Opportunities
August 18, 2016
Saudi Arabia is actively seeking partnerships with foreign firms to raise the competitiveness and productivity across an array of industries, including downstream petrochemicals, mining and mineral resources, and local manufacturing. The Kingdom’s ambitious plans were detailed in the recently released
JSC Giprokislorod Russia Boosts LNG Terminal Design with Intergraph® SmartPlant® Solutions
August 17, 2016
JSC Giprokislorod will use Intergraph® Process, Power & Marine solutions to improve engineering quality in its upcoming oil and gas projects. JSC Giprokislorod chose the Intergraph suite of solutions, including Intergraph Smart™ 3D, Intergraph SmartPlant® P&ID, Intergraph SmartPlant Interop Publisher
Australian Government Offering 28 New Areas for Offshore Petroleum Exploration
August 17, 2016
Australian government has launched its 2016 Offshore Petroleum Exploration Acreage Release, making available 28 new areas for exploration offshore Western Australia and the Territory of Ashmore and Cartier Islands. As promised by Minister Frydenberg at the recent APPEA conference in
Saipem Secures Two Contracts for $8 Billion Tangguh LNG Expansion Project, Indonesia
August 12, 2016
BP Berau has awarded two engineering and construction contracts to Saipem for the $8bn Tangguh LNG expansion project in the Papua Barat Province of Indonesia. As part of the first contract, Saipem will provide engineering, procurement, construction and installation of
Cub Energy Spuds M-23 Well, Eastern Ukraine
August 12, 2016
Cub Energy announces that KUB-Gas, Cub’s 35 percent-owned subsidiary which owns and operates the eastern Ukraine licenses, has commenced drilling of the Makeevskoye-23 (M-23) well. The M-23 well is planned to a total depth of 2,550 meters with multiple objectives.
Essar Oil to Invest $239 Million to Boost Refining Margins
August 12, 2016
India-based Essar Oil will invest over Rs. 1,600 crore ($239m) in the next three years to boost refining margins. The latest round of investment, worth Rs. 1,200 crore ($179.5m), has been set aside to upgrade the company’s Vadinar oil refinery
Statoil Seeks Approval for Development of $414 Million Utgard Gas and Condensate Field, North Sea
August 12, 2016
Statoil, along with its partners, is seeking approval from the Norwegian and UK authorities for the development and operation of the NOK3.5bn ($414m) Utgard gas and condensate discovery in the North Sea. As part of this effort, the partners have
Baker Hughes Releases July 2016 Rig Counts
August 10, 2016
Baker Hughes Incorporated has released the July 2016 rig counts. The international rig count for July 2016 was 938, up 11 from the 927 counted in June 2016, and down 180 from the 1,118 counted in July 2015. The international
Canada’s Irving Oil to Acquire Phillips 66 Whitegate Oil Refinery, Ireland
August 10, 2016
Canada’s Irving Oil has agreed to acquire Whitegate oil refinery in Ireland from Phillips 66, expanding its presence across the Atlantic basin. However, the financial details of the transaction were not disclosed. The Whitegate refinery in Cork, which is currently
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