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Arcius Energy, a joint venture between BP and ADNOC's XRG, has been established to focus on natural gas operations in Egypt. The venture is owned by BP (51%) and XRG (49%), with Naser Saif Al Yafei appointed as CEO and Katerina Papalexandri as CFO. The companies aim to leverage their strengths to expand their gas portfolio in the region, aligning with XRG's goal of accelerating energy system transformation. ADNOC's aggressive growth strategy includes investments in low-carbon energies like gas, chemicals, and renewables. [Extracted from the article]

GLO:FDQM/01jun20:image-credit-113384.jpg PHOTO (COLOR): Image Credit: Lebanese Petroleum Administration gl Lebanon has again postponed the deadline for the submissions of applications for its second offshore licensing round, citing the effects of the COVID-19 pandemic and the decline in oil prices. The Minister said: "While the Covid-19 pandemic affected the financial and logistical capacities of petroleum exploring companies, the decline in oil and gas prices led companies to lower their investments and to hold off exploration activities. [Extracted from the article]

GLO:FDQM/07apr20:image-credit-111721.jpg PHOTO (COLOR): Image credit: Global Petroleum gl Oil company Global Petroleum has exchanged part of its stake in offshore Namibia Block, 2011A (PEL0094), with NAMCOR, for a right to get access to pre-existing 3D seismic data over the block. "This key data, acquired by previous licensees in 2010, covers the Company's Welwitschia Deep prospect and Marula lead, and will enable precise mapping of these features", Global said. As part of the deal, Global has agreed to transfer to National Petroleum Corporation of Namibia ("NAMCOR") a 7 percent participating interest in PEL0094. [Extracted from the article]

The state owned oil and gas company Qatar Petroleum has issued Engineering, Procurement and Construction (EPC) tender for liquid products storage and loading facilities of the North Field Expansion (NFE) Project. The NFE Project involves the addition of four mega LNG trains as part of Qatar Petroleum's plans to expand the State of Qatar's LNG production from 77 million to 110 million tons per annum by 2024. Saad Sherida Al-Kaabi, the Minister of State for Energy Affairs, the President & CEO of Qatar Petroleum said, "The release of this tender package reflects the continuing progress Qatar Petroleum is making on the expansion of our LNG production capacity. [Extracted from the article]

Highlights from the article: The company's management with masters of Sovcomflot vessels on the During the meeting, Sergey Frank, President & CEO of Sovcomflot, Sergey Frank also briefed the participants on the main direction of.

The article reports about an announcement by Sirius Petroleum regarding conditional the company's placing of ordinary shares and subscription of new ordinary shares as of July 2014 in an attempt to raise equity for its oil drilling operations in Nigeria. Topics include the number of the shares, their price, and estimations by oil services company Schlumberger regarding the total cost of the initial operations.

The article deals with the issue of 64,287,500 number of new ordinary shares by oil and gas company Sound Oil as of July 2014 to Continental Investment Partners' subsidiary Metano Capital in respect of Sound Oil's final equity transaction of institutional funding.

The article looks at a public offering of shares made by oil exploration company Sirius Petroleum on the British security market as an attempt to fund its oil well drilling operations in the Ororo field in Nigeria as of July 2014. Topics include conditional placing of ordinary shares, subscription to ordinary shares, and further funding.

The article reports that an oil company has awarded its 3D seismic contract to Dolphin Geophysical AS. It states that the seismic analysis will be conducted in the Mediterranean region by the vessel Artemis Arctic in 2014. It highlights that the company operates seismic vessels and is listed at Oslo Stock Exchange.

The article discusses a letter of intent signed by the international petroleum company Roc Oil Co. Ltd.'s (ROC) subsidiary Roc Oil in Malaysia with Dialog Group Berhad, a public listed company in Malaysia. The agreement would allow farm-out a 20% participating interest from three offshore fields including D35, D21 and J4. It also informs that the agreement will be subjected to PETRONAS, Malaysia's state owned oil company approval, joint venture approval and completion of documentation.

The article focuses on the announcement of Lundin Petroleum regarding the completion of the appraisal drilling and testing of the well 16/1-18 on the Edvard Grieg field in the North Sea in 2014. Topics discussed include the discovery of the Edvard Grieg field in 2007, the drainage strategy and drilling of production wells in the field, and the statement of Ashley Heppenstall, president and chief executive officer of Lundin Petroleum, relating to the result of the appraisal well.

The article presents information on the plans of Egypt to pay back about 1 billion dollars money that it owes to foreign oil companies within two months.

The article presents information on the comment of Gondwana Oil Corp. on a press release from the Ministry of Energy and Petroleum of Ghana on April 10, 2014. In the press release the Ministry accused the company of several wrongdoings regarding the activities of its 70 percent held subsidiary Miura Petroleum Ltd.

The article reports that Brazilian government hold its rights for the 2015 oil-right auction stating the regulations for the auction to be an oil rights concession auction or an auction of production-sharing rights to petroleum oil exploration companies in Brazil.

The article reports on the contract won by Welltec Corp. from Esso Exploration Angola Ltd. for the provision of conveyance and well intervention services. It is reported that, the contract is for the Angola Block 15 located in Angola, and the services includes clean-out and mechanical manipulation. As reported, the technologies and services offered by Welltec increases the flexibility and also reduces the mobilization time for key intervention operations.

The article reports on the efforts being made by the government of Egypt to prevent the exodus of oil and gas producing companies from the country. It is reported that, the government is enhancing exploration terms and is ready to repay about 5 billion dollars which it owes to the companies. It is reported that, gas production in the country has declined to over 5 billion cubic feet a day from 6 billion cubic feet in 2012 due to low investment.

The article reports on the contract received by the engineering firm OneSubsea for exploration and production in East Nile Delta in Egypt, from Pharaonic Petroleum Company (PhPC). Under the contract, OneSubsea will be supplying subsea equipment for the East Nile Delta-Three (END-3) development offshore Egypt.

The article reports on the L53-A Central exploration well onshore Thailand of Pan Orient Energy Corp., that has failed to produce oil. The well could not produce hydrocarbons even after being drilled to a total depth of 966 meters. 100 percent working interest for the L53-A North well location is with Concession L53 Onshore Thailand.

The article reports on the extension of North Sea Blythe and Skipper licences by Independent Oil and Gas Co. (IOG) by 18 months. These licences are operated by the company, Alpha Petroleum Resources. IOG possesses 50 percent interest in Blythe and Skipper licences. It expects to gain outstanding rate-of-return through these assets.

The article reports on the sale of Thailand concessions by Carnarvon Petroleum Ltd. to Loyz Energy Ltd. Carnarvon Petroleum Ltd. has signed a Sale and Purchase Agreement (SPA) under which it has sold half of its 40 percent interest in the Thailand concessions including L44/43, L33/43 and SW1A, to Loyz Energy Ltd.

The article presents information on the completion of the acquisition of 50 percent of the oil fields in Greater Kittiwake Area in Great Britain, by EnQuest PLC. The oil fields were earlier owned by Centrica North Sea Oil. The oil fields falling in GKA include the Kittiwake, Mallard, Gadwall, Goosander and Grouse.

The article reports on the two exploration licenses (ELs) received by Pakistan Petroleum Ltd. (PPL) and the Austria's oil company OMV, from the Government of Pakistan. Both the firms have been granted the permission of drilling the Blocks 2569-5 in Khipro East, 2866-4 in Margand and 2867-5 in Kuhan.

The article reports on the drilling permit awarded by the Norwegian Petroleum Directorate (NPD) to Tullow Oil Norge for well 31/2-21 S in production licence (PL) 550 in Norway. Borgland Dolphin drilling facility has been fixed to start this drilling project, after the drilling of wildcat well 6407/1-7 for Wintershall in PL475 will be completed.

The article reports on the announcement of a licensing bid round by National Hydrocarbons Corp. for four blocks in Cameroon in 2014. Among four blocks, three are located in the Rio del Rey Basin, and the fourth is in Mamfe Basin. Blocks in Rio del Rey Basin include Bomana, Lungahe, and N'dian River, and the one in Mamfe Basin is Manyu.

The article reports on the notice sent to contractor Saipem SpA by Longreach Oil and Gas Ltd. to shift the Drillmec Mas 7000 rig to the Kamar well location for drilling a second oil well at Sidi Moktar in Morocco. An interim debenture financing of between 10-15 million Canadian (Cdn) dollars is expected to be completed by the firm through this project.

The article reports on the successful testing of the Zafarani reservoir of the oil company Statoil ASA in Tanzania Block Two. Statoil ASA announced that its first drill stem test in that oil field with partner Exxon Mobil Corp. proved to be fruitful. It also stated that the information collected during the drill is important to avoid technical issues in future operations.

The article reports on the beginning of drilling project of Jura Energy Corp. at Haleema prospect in the Badin IV south block, Pakistan. Jura Energy Corp. possesses 27.5 percent of working interest in this site under the operations of Petroleum Exploration (Pvt.) Ltd. A brief profile of Jura Energy Corp. is also included in the article.

The article reports on the negotiation being held by Turkey with international oil companies in 2014 for joint exploration in Black Sea.

The article reports that Thailand-based energy company PTT has signed a preliminary supply agreement with Anadarko Petroleum for its liquefied natural gas (LNG) business in Mozambique. It states that PTT Exploration and Production chief executive officer (CEO), Tevin Vongvanich, reported the agreement with Anadarko which allows the purchase of 2.6 million tonnes per year of LNG in Mozambique. In addition, Thailand became the first country from Southeast Asia to import LNG from Africa.

The article focuses on the $5.9 billion capital, investment, and exploration budget of Marathon Oil Corp. for 2014. It says that 60% of the allocated budget will be used toward the company's high-growth, liquids-rich resource play assets in North America. It states that the company provides a comprehensive report of its global operations and strategic plans aimed to achieve profitable growth and competitive returns for its shareholders.

The article reports on the commitment of Egypt to pay 1.5 billion dollars of the 6 billion dollars it says it owes foreign oil companies in an effort to restore investor confidence in the nation's economy that is damaged by political turmoil.

The article reports on the oil drilling operations of Range Resources Ltd. in Guatemala. It states that the development of the Atzam #5 drilling location has been completed and the well conductor casing is positioned to 100 feet below. In addition, the Harold Lee 500 drilling rig will start its operation. Moreover, the production of Atzam #4 continues on a highly restricted choke with no water production.

The article reports that petroleum company Petrobras has completed drilling its oil well known as the 3-BRSA-1184-RJS (3-RJS-723) located in the Santos Basin pre-salt. It states that the new well has confirmed the occurrence of good quality oil within the carbonate reservoirs under the salt layer. In addition, the company is entitled to produce about 3,058 billion barrels of oil under the Right's Transfer Agreement. Moreover, the exploratory phase is estimated to finish by September 2014.

The article focuses on Epsilon Energy Ltd. and its Canadian assets. It says that the company has excluded a certain land which was referred to as the Boundary Lake Leases from its data room as the management believes that those lands have an incremental future market value. It states that the company has accepted an offer from a Canadian oil and gas company for a net consideration amounting to $2.467 million. It adds that President Ramik Arandjelovic will be eliminated from the company.