World Bank and European Bank for Reconstruction & Development to provide funding to reduce flared gas The World Bank and the European Bank for Reconstruction and Development (EBRD) are calling the oil companies and the producing countries to cut the gas flaring by 30% in the next five years. According to 2011 estimations, about 140 […]
ReadSolvay and Sibur to produce oil field process chemicals The Russian petrochemical company SIBUR and the Belgium chemical group Solvay signed Heads of agreement in London to produce jointly surfactants and oil field process chemicals. According to the agreement, SIBUR and Solvay Novecare will create a 50/50 joint venture called RusPAV. The joint venture RusPAV should […]
ReadSchlumberger to deploy horizontal drilling in Russia TNK-BP from Russia and the French-American oil field service company Schlumberger signed a cooperation agreement to develop solutions for hard-to-recover oil and gas reserves. To implement this agreement, TNK-BP and Schlumberger selected the Severo-Khokhryakovskoe field in Western Siberia. The purpose of this agreement is to enhance the oil recovery […]
ReadBG to become first supplier of LNG in China BG Group from UK and China National Offshore Oil Corporation (CNOOC) signed Heads of Agreement (HOA) about the Queensland Curtis Liquefied Natural Gas (QCLNG) project. Both companies were already partnering in the QCLNG project, but with the agreed Heads of Agreement, BG Group and CNOOC manage […]
ReadEni, Total, Kogas and Novatek win exploration blocks On October 30th, Cyprus announced to award four permits out of the second licensing round initiated by the Cyprus Government in February 2012. For this second licensing round, Cyprus offered 12 blocks for auction to oil and gas companies to bid until end of May. From this […]
ReadEni discoveries trigger debate on upstream localization In September 2012, the Italian national oil company Eni and its partners, Vitol from The Netherlands and the Ghana National Petroleum Company (GNPC), made the first oil discovery in the Offshore Cape Three Point (OCPT) block in the Tano Basin about 50 kilometers offshore Ghana. The exploration and […]
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