crude oil
Rosneft and Exxon mobilize $3.2 billion as first step On April 2012, Rosneft and ExxonMobil signed a Strategic Cooperation Agreement to jointly explore and develop oil and gas fields in the Russian Black Sea and Kara Sea. This Strategic Agreement is supported by the: – Opportunity given to Rosneft to take stakes in ExxonMobil oil […]
Definition Continental Shelf (CS) refers to the part of the seabed sloping gently between the coast and the deep ocean. Geographically and legally the definition of the Continental Shelf is different from the Exclusive Economic Zone (EEZ) Comments The Continental Shelf is the sub-sea extension of the continent where the waters are still shallow, between 150 […]
Definition EEZ is the acronym of Exclusive Economic Zone EEZ defines the maritime area of 200 nautical miles distance (370 km) from the coast baseline where each state is entitled to empower its sovereign rights. Comments The legal definition of the EEZ was given in 1982 by the United Nation Convention on the Law of […]
Gulf Coast to connect Cushing, OK, to Nederland, TX. TransCanada will build and operate the Gulf Coast oil pipeline project to connect Cushing, Oklahoma to Nederland in Texas. This crude oil pipeline is 780 km (485 miles) long and 36 inch large to transport 700,000 b/d of crude oil. This capacity may be expanded to […]
Total to join other Majors ExxonMobil and Chevron in the northeast Iraqi province The French major Total and US Marathon Oil Company (Marathon) signed a Farm-in Agreement to develop two blocks in the Kurdistan region, northeast Iraq, see map below (Source: Dr. M. Izady at The Gulf/2000 Project – SIPA – COLUMBIA UNIVERSITY) Kurdistan is one […]
Definition Technical Service Contract, or TSC, refers to an oil and gas exploration and production contract awarded by a producing country to the International Oil Company (IOC) bidding with the lowest remuneration fees per barrel (RFB) produced as reward of its capital and operational expenditures. Comments Most of the exploration and production contracts in the […]
Adma-Opco to award $1.1 billion process packages at year end The Umm al Lulu and Satah al Rasboot (Sarb) offshore oil and gas fields are part of Abu Dhabi National Oil Company’s (ADNOC) program to boost its oil production in order to meet its 1.75 million b/d quota targeted within OPEC on 2017. As offshore […]
Takreer awarded $2.47 billion on first half 2012 With the Ruwais Carbon black and delayed coker (CBDC) facilities, Abu Dhabi Refining Company (Takreer) awarded the only giant project in the UAE during the first half 2012. This downstream project came after a long period without major capital expenditure in the UAE since the Borealis and […]
