Archive News

MILAN — Saipem has been awarded new contracts and the extension of pre-existing agreements in the onshore drillingsector in Saudi Arabia, Morocco, Bolivia and Argentina for a total value of $240 million. In the Middle East, a strategic area for the company, Saipem boosts its presence with a further important three-year extension to activities relating to six medium-sized onshore drilling ...

LONDON — Tullow Oil’s Erut-1 well in Block 13T, northern Kenya, has discovered a gross oil interval of 55 m with 25 m of net oil pay at a depth of 700 m. The overall oil column for the field is considered to be 100 m to 125 m. The objective of the well was to test a structural trap ...

TEHRAN, Jan. 16 (Shana) — Iranian Minister of Petroleum Bijan Zangeneh says Iran’s crude oil revenue is expected to reach 41 billion dollars by the end of the current Iranian fiscal year to March 20 2017. Speaking in a televised interview, the official said that the sum, however, will be accessible by Iran in a matter of a few months. ...

TEHRAN, Jan. 16 (Shana) — Iranian Minister of Petroleum Bijan Zangeneh said five new phases of the supergiant South Pars Gas Field will come on-stream by the end of the current Iranian calendar year which began on March 20. Speaking in a televised interview on Monday, the official said phases 17, 18, 19, 20 and 21 of the joint gas ...

TEHRAN, Jan. 17 (Shana) — The newly appointed director of international affairs of the National Iranian Oil Company (NIOC), Saeid Khoshrou, said Iran’s crude oil sale policies will not change under his leadership. Addressing his introduction ceremony on Monday, Khoshrou said the NIOC’s international activities will continue as before but bolstering negotiations and activities will be top on its agenda ...

TEHRAN, Jan. 17 (Shana) — National Iranian Gas Transmission Company (NIGTC) says it have supplied over 3 billion cubic meters of natural gas to northwestern provinces of the country for heating over the past 30 days. Saeid Tavakoli, managing director of the NIGTC, said natural consumption in the provinces rose by 115 mcm in the provinces in the Iranian month ...

BEAUMONT, Texas — Dragon Products is expanding its frac equipment rebuilding efforts to help oil production companies meet new market demand. Refurbishing used equipment can help production companies meet demand and put their oilfield equipment back to work. Dragon Products has the in-house technology and expertise to test, service, repair and rebuild virtually every unit in any frac fleet. Home ...

ST. PETERSBURG, Russia — Gazprom Neft subsidiary Gazpromneft-Yamal has announced plans to begin pilot operations at the Severo-Samburgskoye field, located in the Purovsky district in the Yamalo-Nenets Autonomous Okrug, in 2017. Geological modelling of the field indicates oil reserves in the order of 72 million tonnes. The Severo-Sambrugsky Block is 100 km north of Novy Urengoy. The licence for hydrocarbon ...

CALGARY, Alberta (Bloomberg) — MEG Energy Corp. is boosting production at its Christina Lake project in Alberta and tapped debt and equity markets for financing, further signs of a rebound in Canada’s oil patch as crude prices stabilize. The expansion at Christina Lake Phase 2B will increase output from the site by about 25% to 100,000 bpd by 2019, the ...

MONTREAL — SNC-Lavalin Fayez Engineering (SLFE), an engineering consultancy partnership between SNC-Lavalin and Dr. Zuhair Fayez, has been awarded a five-year extension to its existing General Engineering Services Plus (GES+) contract with Saudi Aramco, with three one-year options to extend. Under the contract, SNC-Lavalin will be invited to bid on front-end engineering, detailed engineering and project management services to support ...