BP to develop Khazzan and Makarem in phase 1 BP revised significantly upward its capital expenditure in Oman Full Field Development project from $15 billion to $24 billion. Discovered in the 1990s, the huge reserves of natural gas in Center Oman have been left undeveloped because of the complexity and the potential costs related to […]
ReadShell signed with Horsehead for Pennsylvania site In March 2012, Shell signed with Horsehead Corp (Horsehead) a land option agreement on a 300 acre site for its $2.5 billion ethane cracker and petrochemical complex. This Appalachia ethane cracker project is a key milestone in Shell’s strategy to develop an upstream–downstream integrated business model to benefit from […]
ReadDefinition Recoverable reserves are defined as the proportion of resources, here oil and gas, that can be technically, economically and legally possible to extract. The recoverable reserves may also be called proven reserves. Comments The recoverable reserves may be far different from the total resources called total Petroleum Initially-In-Place (PIIP). This Petroleum Initially-In-Place (PIIP) is an estimation resulting from exploration campaign […]
ReadDefinition Tight gas is the name given to the unconventional natural gas because it is trapped in a very tight underground hard rock, or sandstone or limestone formation that is unusually impermeable and non-porous called tight sand. Comments In a conventional natural gas deposit, once drilled, the gas can usually be extracted quite readily, and easily. A […]
ReadBP to invest $15 billion to develop Oman tight gas BP’s Khazzan tight gas project in Block 61 is one of the company’s top five upstream projects globally. BP’s Khazzan project is also the first and largest of its kind in the Middle East. In January 2007 BP signed a major exploration and production sharing agreement with […]
ReadAfter Kitimat LNG, LNG Canada will boost LNG Export Shell Canada Limited, Korea Gas Corporation (KOGAS), Mitsubishi Corporation (MC), and PetroChina Company Limited (PetroChina or CNPC) today announced they are jointly developing a proposed liquefied natural gas (LNG) export facility near Kitimat, British Columbia,Canada. The demand for natural gas, the cleanest burning fossil fuel, remains […]
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