USA
Saudi Aramco extends Jacobs’s FEED on $3 billion Ras Tanura Refinery Clean Fuel and Aromatics project In May 2011 Saudi Aramco awarded the Front End Engineering and Design (FEED) to Jacobs ZATE for the Ras Tanura Refinery Clean Fuel and Aromatics project. Located in the Eastern Province of Saudi Arabia, along the Arabian Gulf, Ras […]
Skrugard and Havis confirm Barents Sea potential Statoil and its partners ENI from Italy and Petoro AS (Petoro), the Norway State-owned company, discovered in Skrugard and Havis reserves going far beyond their expectations. Under the license PL 532, Statoil and its partner share working interests in Skrugard and Havis as following: – Statoil 50% and […]
Shell signed with Horsehead for Pennsylvania site In March 2012, Shell signed with Horsehead Corp (Horsehead) a land option agreement on a 300 acre site for its $2.5 billion ethane cracker and petrochemical complex. This Appalachia ethane cracker project is a key milestone in Shell’s strategy to develop an upstream–downstream integrated business model to benefit from […]
BP to sell Carson refinery to Tesoro; Sunray and Hemphill gas processing facilities to Eagle Rock BP continues to implement its $38 billion divestment plan of non strategic assets by the end of 2013 in signing two spin off agreements with Tesoro Corporation (Tesoro) and Eagle Rock Energy (Eagle Rock) partners. These agreements cover: – Downstream assets with […]
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 […]
$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 […]
