Archive News

TEHRAN, Jan. 06 (Shana) — Iranian Minister of Petroleum Bijan Zangeneh says Iran’s gas output has raised its natural gas output by 50% over the course of the past three years. Saying that Iran has problem in supplying gas to all the provinces, the official said inauguration of new South Pars phases has added 50% to the country’s gas output ...

COPENHAGEN, Denmark — Maersk Oil is planning to halt production from Tyra field, Denmark’s largest gas field, during the fourth quarter of 2018. According to the Copenhagen-based company, an economically viable solution for full recovery of the field’s remaining resources has not yet been identified, and production is consequently expected to cease on Oct. 1, 2018. “Tyra has since 1984 ...

BOSTON — geoLOGIC systems, a portfolio company of BV Investment Partners, has announced that it has purchased Canadian Discovery Ltd.’s (CDL) Well Completions & Frac Database and related products, including its Direct Data Access add-on module and the Drilling Database. This acquisition includes the products and the team behind them, so clients using Canadian Discovery’s Well Completions & Frac Database ...

HOUSTON — PETRONAS’ first floating liquefied natural gas facility, PFLNG SATU moored by SOFEC, Inc.’s external turret has achieved an industry breakthrough with the successful production of its first drop of LNG from Kanowit gas field, offshore Sarawak on Dec. 5, 2016. PFLNG SATU achieved the first gas milestone with the introduction of gas from the KAKG-A central processing platform ...

TEHRAN, Jan. 03 (Shana) — Iran has denied it has reached an agreement with the Kurdistan Region of Iraq for laying out joint oil pipelines. The public relations department of the Iranian Ministry of Petroleum announced on Tuesday that the country has made no agreements with the Iraqi Kurdistan for construction of two pipelines to deliver its crude oil to ...

NEW YORK — Wärtsilä has signed a ten-year maintenance agreement with MOL LNG Transport Europe Ltd., an affiliate of the Japanese MOL Group. The agreement, which covers two LNG carriers, increases the predictability of the vessels’ operations, enhances safety and reduces operational costs. The comprehensive service agreement includes all scheduled engine maintenance activities, workshop services and online remote support. With ...

IRVING, Texas — Exxon Mobil has reported a new natural gas discovery in the Papua New Guinea North Highlands, 13 miles (21 km) northwest of Hides gas field. Interest owners are Exxon Mobil (42.5%), Oil Search Limited (37.5%) and Barracuda Limited, a subsidiary of Santos Limited (20%, subject to regulatory approval), with Oil Search as operator. The Muruk-1 well encountered ...

LONDON — BP and PTT Public Limited Company (PTT) have entered into a sales and purchase agreement for liquefied natural gas. Under the agreement, BP will provide PTT with approximately 1 million tonnes of LNG per annum.  The term of the agreement is 20 years.  LNG supply will commence in 2017 and will be sourced from BP’s diverse portfolio of ...

DOHA, Qatar (Bloomberg) — Energy companies in the Middle East reduced their borrowing by 26% in 2016 as an increase in oil prices late in the year provided revenue needed for exploration and production. Bonds and loans issued by energy producers in the six-nation Gulf Cooperation Council declined 26 percent to $17.5 billion from a record $23.7 billion in 2015, ...

TEHRAN, Jan. 02 (Shana) — Iran says all its petrochemical facilities are operating and they have been faced with no shortages in feedstock supply despite Turkmenistan’s abrupt cutting of gas flow to northern Iranian provinces. Ali Mohammad Bossaqzadeh, director of production control at the National Petrochemical Company (NPC), reacting to Turkmenistan’s Sunday move to halt gas flow to Iran, said ...