proved reserves

Saudi Aramco on fast track with Master Gas System Expansion

Foster Wheeler at FEED on MGSE gas compression In October 2013, the national oil company (NOC) Saudi Aramco selected the Swiss-based engineering company Foster Wheeler to perform the front end engineering and design (FEED) work of the compression stations for the Master Gas System Expansion (MGSE) project. To be implemented in phases, the Master Gas …

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Ineos to restore UK Grangemouth ethylene capacity with US shale gas

Consol and Range to supply shale gas to Ineos cracker The US-based junior companies Consol Energy Inc. (Consol) and Range Resources Corporation (RRC or Range Resources)  signed long term agreements with the Swiss registered petrochemical company Ineos Group AG (Ineos)  to import shale gas from the USA to supply its ethylene cracker at Grangemouth complex in …

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Petrobras in brief

Find out how our energy can create a better world Petroleo Brasileiro SA (Petrobras) was founded in 1953 and is today the largest corporation in Brazil operating in 27 countries outside of Brazil, highlighting United States and West Coast of Africa. Petrobras is listed on San Paulo ADR and on NYSE but mostly owned and managed by …

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Recoverable Reserves

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 …

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CNOOC and Sinopec to pump $20 billion in upstream acquisitions

CNOOC and Sinopec target Nexen and Talisman assets July 23rd 2012, the Chinese CNOOC Ltd (CNOOC) announced to have signed an Arrangement Agreement with Nexen for the acquisition of the Nexen shares listed in Toronto and New York Stock Exchanges. The aggregate value of the proposed acquisition is approximately $15.1 billion on the top of which …

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