Acquired blocks from BP offshore Vietnam smile to ExxonMobil ExxonMobil acquired the blocks 117,118 and 119 offshore Da Nang on central Vietnam coast in the Phu Khanh Basin from BP in 2009. At that time BP managed to extract gas from these fields but with high content of hydrogen sulfide and carbon dioxide. Today ExxonMobil […]
ReadDefinition 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 […]
Read$1.6 billion to build Taizhou Refinery and Aromatics China National Offshore Oil Corporation (CNOOC), China’s third National Oil Company (NOC), has decided to build a new integrated refinery and petrochemical complex in Taizhou, Jiangsu province, in east China. The new refinery would process heavy crude oil pumped from China’s Bohai Bay, off north China, the […]
ReadShell, CNOOC and CNPC sign China and Gabon deals July 2012, Shell, China National Offshore Oil Corp (CNOOC) and China National Petroleum Corp (PetroChina or CNPC) announced to have signed several contracts for oil and gas production sharing and co-operation in China and in Gabon. In these agreements: – Shell and CNOOC signed two offshore oil and gas Production Sharing Contracts (PSCs) in China. […]
ReadDefinition PSC is the acronym of Production Sharing Contract. PSA may also be used to refer to Production Sharing Agreement Comments PSC is an agreement between the parties to a well and a host country regarding the percentage of oil and gas production each party will receive after the participating parties have recovered a specified amount […]
ReadBadra Export pipeline and Infield pipeline awarded soon Gazprom continues to award engineering procurement and construction (EPC) contracts for the different packages of its $2 billion Badra development project. Badra oil field is located in the Wasit Province at the Southeast of Iraq. Badra is part of these giant fields that the Iraq Government intends to develop to increase […]
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