Definition EEZ is the acronym of Exclusive Economic Zone EEZ defines the maritime area of 200 nautical miles distance (370 km) from the coast baseline where each state is entitled to empower its sovereign rights. Comments The legal definition of the EEZ was given in 1982 by the United Nation Convention on the Law of […]
Gulf Coast to connect Cushing, OK, to Nederland, TX. TransCanada will build and operate the Gulf Coast oil pipeline project to connect Cushing, Oklahoma to Nederland in Texas. This crude oil pipeline is 780 km (485 miles) long and 36 inch large to transport 700,000 b/d of crude oil. This capacity may be expanded to
$2.3 billion TransCanada Gulf Coast oil pipeline project approved Read More »
Total to join other Majors ExxonMobil and Chevron in the northeast Iraqi province The French major Total and US Marathon Oil Company (Marathon) signed a Farm-in Agreement to develop two blocks in the Kurdistan region, northeast Iraq, see map below (Source: Dr. M. Izady at The Gulf/2000 Project – SIPA – COLUMBIA UNIVERSITY) Kurdistan is one
Total signed Farm-in Agreement with Marathon in Kurdistan Read More »
Definition Technical Service Contract, or TSC, refers to an oil and gas exploration and production contract awarded by a producing country to the International Oil Company (IOC) bidding with the lowest remuneration fees per barrel (RFB) produced as reward of its capital and operational expenditures. Comments Most of the exploration and production contracts in the
Adma-Opco to award $1.1 billion process packages at year end The Umm al Lulu and Satah al Rasboot (Sarb) offshore oil and gas fields are part of Abu Dhabi National Oil Company’s (ADNOC) program to boost its oil production in order to meet its 1.75 million b/d quota targeted within OPEC on 2017. As offshore
$1.95 billion Abu Dhabi Umm al Lulu and Satah al Rasboot (Sarb) go on Read More »
Takreer awarded $2.47 billion on first half 2012 With the Ruwais Carbon black and delayed coker (CBDC) facilities, Abu Dhabi Refining Company (Takreer) awarded the only giant project in the UAE during the first half 2012. This downstream project came after a long period without major capital expenditure in the UAE since the Borealis and
ADNOC to boost upstream projects over downstream Read More »
Definition IPP is the acronym of Independent Power Project. IPP may also be used for Independent power Producer. In both cases IPP refers to non-public utility company investing or operating power generation facilities. Comments Until the years 1980s, the power generation facilities were mostly run by public entities in each country regardless if they were gas
Saudi Aramco to send Power Plants Call for Tenders Saudi Aramco is planning to build three Independent Power Projects (IPPs) to build three greenfield gas-fired power plants in the Eastern Province of Saudi Arabia. These power plants should be installed in Abqaiq, Hawiyah and Ras Tanura with a total: – Electrical capacity of 770MW/h –
Saudi Aramco pre-qualified bidders on Abqaiq-Hawiyah-Ras Tanura IPPs Read More »
Devon and Sumitomo to develop Permian Basin tight oil Devon Energy Corporation (Devon) and Sumitomo Corporation (Sumitomo) entered an Agreement to jointly develop the Cline Shale and the Midland-Wolfcamp tight oil fields within the Permian Basin. The Cline Shale and the Midland-Wolfcamp tight oil fields are part of Devon‘s operations in USA where Devon has still a vast inventory of undrilled
$1.4 billion Devon-Sumitomo joint venture in shale oil Read More »
Definition Tight oil refers to the light crude oil trapped in shale, limestone and sandstone formations characterized by very low porosity and permeability. Tight oil is normally a light crude oil found in the sedimentary formations that may also be called light tight oil (LTO) or tight shale oil or even shale oil. Comments But
