Author Archives: admin

Weatherford, Gazprom Neft Enter Into Technology Cooperation Agreement

Vadim Yakovlev, the first deputy general director of Gazprom Neft, and Lance Marklinger, president of global sales for Weatherford International, signed a technology cooperation agreement at the St. Petersburg International Economic Forum. The agreement is valid for five years and is intended to further develop current business relationships and collaborations between the two companies. Under the signed document, the parties ...

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BP celebrates 40 years of production at Prudhoe Bay

HOUSTON — The BP-operated Prudhoe Bay oil field in Alaska has reached 40 years of production, a milestone highlighting its historic contribution to U.S. energy security and ongoing role as a key economic engine for the region and nation. Since the giant oil field on Alaska’s North Slope began production, it has generated more than 12.5 Bbbl of oil — ...

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Eni wins big in Mexico’s auction of shallow-water prospects

MEXICO CITY (Bloomberg) — Eni SpA was the biggest winner in Mexico’s latest auction of shallow-water oil prospects. The Italian oil giant took three of the 10 areas awarded on Monday, the national hydrocarbons commission said during an event in Mexico City on Monday. The tender, Mexico’s fifth since it ended a state monopoly in 2014, garnered winning bids from Royal ...

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Statoil, Faroe Petroleum announce PDO approval for Njord and Bauge fields

ABERDEEN — Faroe Petroleum, the independent oil and gas company focusing principally on exploration, appraisal and production opportunities in Norway, the UK and Atlantic Margin, notes Statoil’s announcement regarding PDO of Njord and Bauge in the Norwegian North Sea. Graham Stewart, CEO of Faroe Petroleum commented: “Faroe are delighted at the efficient progress Statoil is making with this important project.  ...

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NIOC to Represent Iran at 22nd World Petroleum Congress in July

TEHRAN, June 19 (Shana) — The National Iranian Oil Company (NIOC) will run a stand at the 22nd World Petroleum Congress to be held in İstanbul (Turkey) on 9-13 July, 2017. Caretaker of NIOC’s research and technology department Ebrahim Taleghani said investment opportunities in Iran’s oil industry will be introduced during the three-day event that is touted as the industry’s ...

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Tehran, Jakarta Oil Trade Rising

TEHRAN, June 19 (Shana) — Energy trade between Iran and Indonesia has been rising in recent years and is growing, Indonesian ambassador to Tehran, Okatawnew Ali Modin said. Speaking in a meeting with Gholamhossein Shafei, head of Iran Chamber of Commerce, Modin underlined Iran’s role in the region as a trade hub, adding implementation of deals by the two countries ...

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Oil Investment Ensures Economic Stability: Expert

TEHRAN, June 19 (Shana) — Head of Iran-China joint Chamber of Commerce Majid-Reza Hariri says arrival of new investment in Iran’s oil industry can ensure economic stability of the country. Hariri said investment opportunities amount to over $120 billion dollars in Iran’s oil and gas sector which provides for unparalleled opportunities in the industry. He said foreign investment leads to ...

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BP celebrates 40 years of production at Prudhoe Bay

 HOUSTON — The BP-operated Prudhoe Bay oil field in Alaska has reached 40 years of production, a milestone highlighting its historic contribution to U.S. energy security and ongoing role as a key economic engine for the region and nation. Since the giant oil field on Alaska’s North Slope began production, it has generated more than 12.5 Bbbl of oil — ...

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