Oil and gas industry news

Petrobras has discovered the presence of hydrocarbons in the CM-411 block in the Campos Basin pre-salt, offshore Brazil, through the drilling of the Urissanê well (1-BRSA-1377-RJS well). The Urissanê well, which is contained in a water depth of 2,950 meters, found oil in reservoirs in the pre-salt section. Petrobras said that it will analyze the […]

Indian Oil Corporation Limited (lndianOil) said that its board has sanctioned the construction of an INR29.3 billion ($400 million) oil refinery at Cauvery Basin, Nagapattinam in Tamil Nadu with a capacity of 9 MMTPA. The oil refinery project will be taken up by IndianOil’s subsidiary – Chennai Petroleum Corporation Limited (CPCL). The CPCL refinery is […]

Italian oil and gas giant Eni has been awarded the P2511 licence, a new production licence in the UK part of the North Sea, during the 32nd UK Offshore Licensing Round. The P2511 licence is spread over an area of around 340 square kilometers. It is located nearly 250km offshore UK in the Northern North […]

Enerplus, a Canadian oil and gas company, has signed an all-cash deal worth $465 million to acquire Bruin E&P HoldCo, a pure play producer in the Williston Basin in North Dakota, US. The operational areas of Bruin E&P include the Fort Berthold Indian Reservation, and the Bakken Shale and Three Forks formations. The Texas-based oil […]

Dutch chemicals company LyondellBasell has signed an agreement to create a 50:50 joint venture (JV) with the China Petroleum & Chemical Corporation (Sinopec) for producing propylene oxide (PO) and styrene monomer (SM) in the Chinese domestic market. First announced in December 2019, the joint venture will operate as Ningbo ZRCC LyondellBasell New Material Company. It […]

Central Petroleum has awarded a contract to Silver City Drilling (NSW) for deploying the latter’s Rig 34 at the Range Gas Project in the Surat Basin in Queensland, Australia. Under the contract, Rig 34 will drill three appraisal pilot wells at the coal seam gas project, which is being executed under a 50:50 joint venture […]

Lundin Energy Norway has signed a letter of intent (LOI) with Odfjell Drilling for the use of the latter’s Deepsea Stavanger under a contract worth $11-14 million plus incentives. The letter of intent will be subject to finalizing contract and final approvals from the involved entities. The contract is slated to begin in Q3 2021 […]

AG&P Pratham, a subsidiary of Singapore-based downstream LNG and gas logistics company AG&P Group, has opened a natural gas mother station in Ramanathapuram, Tamil Nadu. The new natural gas mother station, which is branded under AG&P Pratham, is located at the Valantharavi village. It will directly get natural gas from the nearby gas treatment facility […]

Subsea 7 has bagged a contract from Cabinda Gulf Oil Company (CABGOC), a fully-owned subsidiary of Chevron, pertaining to the Sanha Lean Gas Connection project (SLGC project), offshore Angola. The Luxembourg-based engineering company said that the contract value is in the range of $150-300 million. The SLGC project calls for the construction and installation of […]

Mubadala Petroleum, a UAE-based oil and gas company, has inked a concession agreement with the Egyptian Ministry of Petroleum and Mineral Resources to take a participating stake of 27% in the Red Sea Block 4, an oil and gas exploration block in Egyptian waters. The operator of the Red Sea Block 4 is Royal Dutch […]