final investment decision (FID)
Shah Deniz Consortium secures funding for TAP BP, State Oil Company of Azerbaijan (SOCAR) and Total, the stakeholders of the Shah Deniz Consortium, have committed to provide the founding to joint venture made of EGL Energy (EGL), Statoil and E.ON Ruhrgas for the Trans Adriatic Pipeline project The Trans Adriatic Pipeline (TAP) is a section of […]
$600 million for new Bapetco exploration campaign Badr Petroleum Company (Bapetco) is a joint venture established in Egypt between Shell and the national oil company (NOC) Egypt General Petroleum Company (EGPC). Bapetco’s main activity is to explore and develop oil and gas fields. Through its upstream activities, Bapetco is involved in the Badr el Din, North […]
$20 billion Sadara project takes momentum in Al Jubail With 26 major production units, The Dow Chemical (Dow) and the Saudi National Oil Company Saudi Aramco are building up the world’s largest integrated petrochemical complex in Al Jubail Industrial City, in Al Sharqiya, 100 kilometers northwest Dammam in Saudi Arabia. Dow and Saudi Aramco expect their $20 […]
Abu Dhabi Mubadala plans 3 FSOs for Gulf of Thailand The Abu Dhabi-based Mubadala Petroleum (Mubadala) is planning further expansion in the Gulf of Thailand after its first success with Jasmine B5/27 offshore block. In July 2012, Mubadala, through its affiliate Pearl Oil, and its partners, Tap Energy Pty and Northern Gulf Petroleum Pte Ltd, […]
Statoil’s withdrawal opens door to Gazprom for new partnership with other Majors Since Gazprom, Total and Statoil could not make the final investment decision (FID) in June 30th on Shtokman despite $1.5 billion capital expenditure already spent in the project, some major changes were expected in the project. Statoil‘s decision to withdraw from the project, […]
Definition Converted FPSO refers to a Floating Production Storage and Offloading (FPSO) vessel made by the modification of an existing transportation vessel, usually a crude oil shuttle tanker. Converted FPSO opposes to new-build FPSO which is designed and constructed from a white page. Comments The conversion of a transportation vessel into a FPSO is a common practice used in multiple […]
Total align bidders for $3 billion Kaombo FPSOs. Modec, Saipem and SBM Offshore are expected to bid for the two converted FPSOs proposed by Total and its partners, ExxonMobil, Marathon, Sonangol and Galp for the development of the Kaombo offshore project in Angola. Angola, on the western coast of Africa, is one the strategic countries to support […]
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 […]
