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 – […]
ReadDevon 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 […]
ReadDefinition 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 […]
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 […]
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