Hungarian oil and gas company MOL has signed an agreement with Chevron to acquire its non-operated E&P and midstream interests in Azerbaijan for total consideration of US$1.57 billion. The assets include a 9.57% stake in the Azeri-Chirag-Gunashli (ACG) oil field, and a 8.9% stake…
Chevron Corporation has increased the cost estimate of its Future Growth Project and Wellhead Pressure Management Project (FGP-WPMP) at Kazakhstan’s Tengiz oil field from US$36.8 billion to US$45.2 billion following a detailed cost and schedule review conducted in this year’s third quarter. An updated…
Article by Danabek Zhanayev – World Monitoring Group (WMG) Oil and Gas industry has always been the most popular one when talking about investment in Kazakhstan, which is not surprising with the country’s huge oil reserves located mainly in the Western regions. This…
Reuters has reported that Suntien Green Energy’s plans to build an LNG receiving terminal in northern China have been granted state approval. Suntien Green Energy is a Chinese wind power producer and piped gas distributor backed by the Hebei provincial government. The company’s…
The Falkland Islands government has granted an extension for the PL032 Discovery Area offshore licence containing the Sea Lion oil discovery discovered by Rockhopper in 2010. Rockhopper, which owns a 40 percent stake in the PL032 licence located in the North Falkland Basin, said…
Dutch contractor Heerema Marine Contractors will provide its crane vessels with clean energy by switching them from diesel generators to wind energy. By switching off the diesel generators, total emissions will be reduced by the equivalent of the annual emissions of approximately 5,000 diesel…
Iran connected its national grid to Iraq on the 1st November in a bid to help the Arab country reduce its power outages. The power grids of Iran and Iraq were synchronised in a ceremony with Iranian Energy Minister Reza Ardakanian and the Iraqi…
On behalf of the Gullfaks and Snorre partners, Equinor today signed contracts totalling around NOK 3.3 billion for the Hywind Tampen wind farm development. The contracts have been awarded to Kværner AS, Siemens Gamesa Renewable Energy AS, JDR Cable System Ltd and Subsea 7 AS….
Saipem and Wello Oy have agreed to deploy the latter’s WEC Penguin technology at the Biscay Marine Energy Platform (BiMEP) test area offshore northern Spain. BiMEP is an open sea marked zone dedicated to supporting research and technical testing of prototype floating marine renewable…
Tethys Oil AB, through subsidiary Tethys Oil Oman Onshore Ltd, will pay up to US$9.5 million in a cash and carry farm-in agreement with Biyaq Oil Field Services for 20% interest in the exploration and production licence covering Block 56 onshore Oman. Block 56…
