Iraq has awarded a US$472mn contract for an oil export facility expansion and sub-sea pipeline to the Italian group Saipem, a subsidiary of oil group Eni.
The Omani Ministry of Oil and Gas signed a six year exploration and production (E&P) agreement with Canada-based Allied Petroleum Exploration Inc (APEX). The development of Block 36, in the Dhofar region, is worth US$18mn.
LUKOIL has awarded Baker Hughes a two-year contract to provide full drilling and completion services for 23 wells in the West Qurna field in southeast Iraq.
Afren, a British oil company, announced that it is making a strategic entry into the Kurdistan region of Iraq with acquisitions in two oil fields in Kurdistan worth US$588mn.
Total posted a fall in second quarter profits by six per cent to US$4 billion compared to the pervious year, as the company was hampered by lower overall output and weaker refining margins.
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