Exploration & Production

Wood wins major contract extension for Upper Zakum oil field project

wood 14Wood has secured a multimillion-dollar contract extension from ADNOC Offshore, a subsidiary of Abu Dhabi National Oil Company (ADNOC), for services to the UZ750 mega project offshore Abu Dhabi

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Mubadala Petroleum to acquire 20 per cent interest in Egypt’s Nour block

mubadala 13Mubadala Petroleum has announced to purchase a 20 per cent participating interest from Eni’s share in the Nour North Sinai Offshore Area concession, an offshore exploration block in Egypt

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OPEC and non-OPEC states are producing too much oil: Gulf Intelligence survey

john cameron 776256 unsplash‘The OPEC and non-OPEC alliance of 25 countries are currently producing too much oil to reverse an oil price decline that has seen Brent crude fall by about US$10 a barrel over the last month and reduce their total revenue by US$500mn a day’

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Panoro Energy to acquire OMV Tunisia Upstream GmbH

panoro 9London-based independent E&P company Panoro Energy’s Norwegian subsidiary Panoro Tunisia Production AS has signed an agreement with OMV Exploration and Production GmbH to acquire 100 per cent of the shares of OMV Tunisia Upstream GmbH for a transaction value worth US$65mn

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RAKGas signs oil exploration agreement with Zanzibar

zanzibar 30RAKGas, through its international subsidiary RAKGas Zanzibar Limited, has signed an oil and gas production sharing agreement with the government of Zanzibar, the first of its kind agreement Zanzibar has signed following its implementation of the oil and gas (Upstream) act of 2016

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