February 2nd 2010 edition

Iraq: the contracts keep on coming

Schlumberger looks forward to increased demand

Rig first for Aramco

Global recovery points to a steady rise in energy demand

East Ghazalat
deal signed

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Iraq: the contracts keep on coming
Among recent activity in the continuing upsurge in oil-production related deals in Iraq is the news that Occidental Petroleum Corporation and Korea Gas Corporation (KOGAS) have signed a technical service contract with Iraq's state-owned South Oil Company (SOC) and Missan Oil Company as State Partner, to redevelop the Zubair field, near Basra in southern Iraq.

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Schlumberger looks forward to increased demand
According to Schlumberger Limited’s recently announced fourth-quarter and full-year 2009 results, its full-year 2009 revenue was US$22.70 billion. This compares with US$27.16 billion in 2008. Fourth-quarter revenue was US$5.74 billion (compared with US$5.43 billion in the third quarter of 2009, and US$6.87 billion in the fourth quarter of 2008).. More...
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Rig first for Aramco
Aramco Overseas Company BV, a subsidiary of Saudi Aramco has awarded, Keppel FELS Limited, a major group of companies in the offshore, energy and engineering industry, a contract to build a customised KFELS Super B Class jackup rig. This is said to be Aramco’s first purpose-built, next-generation mobile offshore drilling rig. More...
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Global recovery points to a steady rise in
energy demand

Crude markets were surprisingly resilient during 2009 given the severity of global recession with the deepest contraction since the 1930s and high inventories rising from sagging demand in advanced economies. Prices should increase further as economic activity expands, however, demand upsurge will also require extra production capacity in order to cope better with the next cycle of business expansion.More...
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East Ghazalat deal signed
TransGlobe Energy Corporation, an international oil and gas explorer focusing on Egypt and Yemen, has signed a farm out agreement with Vegas Oil & Gas SA, a privately owned oil and gas company with extensive Egypt experience, to earn a 50 per cent interest in the East Ghazalat Concession in the Western Desert of Egypt, subject to the approval of the Egyptian Government. More...
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In the latest issue of Oil Review Middle East...

Columns
Industry news and executives’ calendar

Analysis
Libya
The country’s three million bpd production capacity target is delayed once again.
2010 Market Overview
Following the financial storm of 2009, will 2010 bring about recovery for the industry?

Country Focus
Saudi Arabia
A look at Saudi Aramco’s efficient, yet ecologically sound exploration practices.
Iraq
Round two of licensing may have been a success, but there are many challenges ahead.

Petrochemicals
Financing
A senior figure of the Central Bank of Bahrain has spoken about the changing face of
project financing in the petrochemical sector.
Developments
The latest petrochemical news from around the region.

Gas
Qatar
Doubt has been cast over Qatar’s North Field projects following suggestions its
moratorium on new gas projects may be extended.
Developments
Project and contract news from the regional gas sector.

Exploration
Developments
A round-up of recent exploration and production activity from around the region.

Technical Focus
Innovations
Introducing some of the very latest technological developments for the industry.
Corrosion
A look at the role of the latest internal coatings technology in preventing corrosion.
Gas Well Deliquification
Examining the latest deliquification technology to clear up liquid loading.

Information Technology
Information Management
Microsoft Oil and Gas Industries’ managing director, Ali (Albrecht) Ferling, talks about
the increasing need for oil and gas companies to manage their data efficiently.
Developments
Introducing some of the latest IT products from around the region.

Rig Count
Databank

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