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UK’s Robert Gordon University Launches Decommissioning Simulator for Oil and Gas Sector
December 7, 2017
Robert Gordon University (RGU) in the UK has set up a new decommissioning simulator in Aberdeen for the of oil and gas industry. The new simulator, which is designed to focus on well-plugging and abandonment (P&A), has been established by
Eni Completes Financing for $4.67 Billion Coral South FLNG Project, Offshore Mozambique
December 7, 2017
Italian oil and gas firm, Eni and its partners have reached financial close for the $4.67bn Coral South floating liquefied natural gas (FLNG) project in the Rovuma Basin offshore Mozambique. The FLNG, which will be used to develop the considerable
ExxonMobil Makes Fifth Oil Discovery, Offshore Guyana
December 5, 2017
ExxonMobil has made an oil discovery after drilling its Turbot-1 well off Guyana, encountering an oil reservoir of 75ft. The latest oil discovery marks the company’s fifth in Guyanese waters. The earlier finds were made at Liza, Payara, Snoek and
Brazilian Court Partly Blocks Petrobras-Total $2.2 Billion Deal
December 5, 2017
Petróleo Brasileiro (Petrobras) $2.2bn sale of stakes in two highly potential oil blocks in Brazil’s pre-salt layer to Total has been partly blocked by a Brazilian federal court ruling. The judgment in the 3rd Federal Court of Sergipe from Judge
DUC Partners to Invest $3.36 Billion for Tyra Gas Field Redevelopment, Danish North Sea
December 5, 2017
The Danish Underground Consortium (DUC), which is led by Maersk Oil, has approved DKK21bn ($3.36bn) investment for the full redevelopment of the Tyra gas field located in the Danish North Sea. The redevelopment work is aimed at ensuring continued production
Reliance Secures $583 Million Financing to Develop LNG and Power Project, Bangladesh
December 5, 2017
The Asian Development Bank (ADB) has approved $583m financing for the development of the Reliance Bangladesh Liquefied Natural Gas (LNG) and Power Project. The first phase of the project will see construction of a 750MW combined cycle gas-fired power plant
Dana Begins Oil Production from $2 Billion Western Isles Development, UK North Sea
December 4, 2017
Dana Petroleum, a wholly owned subsidiary of the Korea National Oil (KNOC), and its project partner Cieco have commenced oil production from the $2bn Western Isles development located in Block 210/24a, in the UK North Sea. The Western Isles development
Abu Dhabi National Oil to Invest $109 Billion to Boost Upstream and Downstream Businesses
December 4, 2017
State-owned firm Abu Dhabi National Oil Company (Adnoc) is planning to invest over AED400bn ($109bn), over the next five years, to boost oil and gas output as well as strengthen downstream activities. The company’s new capital expenditure program has been
Statoil to Acquire Total’s Stakes in Two Norwegian Offshore Fields for $1.45 Billion
December 4, 2017
Total has entered into an agreement to sell its stakes of 51 percent and 40 percent in the Martin Linge field and the Garantiana discovery, respectively, to Statoil for a sum of $1.45bn. The transaction will see Statoil become the
Novatek, Marubeni, and Mitsui to Set Up New LNG Hub in Kamchatka, Russia
December 4, 2017
Russian natural gas producer Pao Novatek has signed a memorandum of understanding (MOU) with Japanese firms Marubeni Corporation and Mitsui O.S.K. Lines (MOL) for a liquefied natural gas (LNG) transshipment and marketing project in the Kamchatka region in Russia. As
