natural gas
CNPC to boost China shale gas through joint ventures China National Petroleum Corp. (CNPC or PetroChina) is to become the spearhead of China‘s new policy to boost its own shale gas exploration and production in multiplying joint ventures and strategic agreements such as with Shell, Gazprom or Sichuan Province. China holds about triple shale gas resources of […]
Definition Non-Condensable Gas Co-Injection (NCG) belongs to the in-situ exploration and production of oil sands. Non-Condensable Gas Co-Injection refers to the process which is to inject NCG together with the steam in the oil sands reservoir. Comments Canada is the country with the biggest unconventional oil resources called bitumen. This bitumen lies in oil sands reservoirs. Most […]
Definition Recoverable reserves are defined as the proportion of resources, here oil and gas, that can be technically, economically and legally possible to extract. The recoverable reserves may also be called proven reserves. Comments The recoverable reserves may be far different from the total resources called total Petroleum Initially-In-Place (PIIP). This Petroleum Initially-In-Place (PIIP) is an estimation resulting from exploration campaign […]
$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 […]
Chevron to acquire Rovi and Sarta in Iraqi Kurdistan Following ExxonMobil to move first in Kurdistan in signing six oil field development licenses in November 2011, Chevron is also entering Kurdistan, in the northeastern Iraq, in dealing with Reliance Industries Limited (Reliance) from India. According to the contract signed between parties, Chevron will acquire the […]
Definition Concession is a form of contract in the oil and gas industry between a State and a company to explore and develop these resources. Comments Oil and gas concessions are very similar to mining concessions considering that in all countries, except USA, and few others the underground belongs to the State, not to the […]
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, […]
