Eni, Thailand's PTTEP Win Adnoc Exploration
Italy's Eni SpA and Thailand’s PTT Exploration and Production Pcl secured rights to explore for oil and natural gas in Abu Dhabi from the Abu Dhabi National Oil Company (Adnoc), following Abu Dhabi’s first competitive block licensing round.A tweet from Adnoc said, "We’re pleased to announce that Adnoc has signed two historic agreements, awarding two offshore exploration blocks to a consortium led by Italy’s Eni and Thailand’s PTTEP…
Qatar Buys Eni's Mexican Oil Stakes
Qatar Petroleum (QP) signed an agreement with Italy’s Eni SpA to acquire a 35% stake in three offshore oil Fields in Mexico.The agreement cover the Amoca, Mizton, and Tecoalli offshore oil fields, which lie in Area 1 in Mexico’s Campeche Bay, said a press statement from the Arab country's government-owned energy company.The agreement is subject to customary regulatory approvals by the government of Mexico. Following such approval…
Pacific Drilling Bags Eni Contract for Offshore Nigeria
Offshore ultra-deepwater drilling company Pacific Drilling announced that its deepwater drillship the Pacific Bora has been awarded a contract by Nigerian Agip Exploration Limited (a subsidiary of Eni SpA) for drilling operations in Nigeria.The term of the contract is for one firm well plus two additional option wells. The contract is expected to commence in mid to late November 2018 and firm contract backlog is estimated…
Indonesia Awards Two Oil and Gas Blocks
Indonesia awarded two oil and gas blocks of six auctioned by the government, deputy energy minister Arcandra Tahar told reporters on Monday.Indonesia awarded South Jambi B gas block to Hong Kong Jindi Group Ltd and Banyumas exploration block to Indonesia's PT Minarak Brantas Gas.Italian ENI SpA was the sole bidder for Makassar Strait gas block, but failed to meet terms and conditions, Tahar said.
Pemex Seeks Offshore Deepwater Partners
Mexico's state-run oil company Pemex plans to reach out to existing partners to form new joint ventures for a pair of deepwater blocks it won in a January auction, the company's chief told Reuters on Monday. Pemex is running out of time to find partners for key oil and gas projects as the government looks to show progress from its energy agenda ahead of a July presidential election. The oil company is relying on foreign capital to reverse declining output and refining amid an ambitious energy reform.
Mexico Awaits Next Oil Round with Cautious Optimism
Mexico is looking forward to its next round of offshore oil auctions on Monday with guarded optimism thanks to robust interest from oil majors for the shallow-water tenders. On Monday, Mexico auctions 15 oil and gas blocks along the southern coastal waters of the Gulf of Mexico in the next stage of the country's historic opening of the industry following a 2013-14 energy reform. In December 2013 Congress changed the constitution…
ConocoPhillips looks to Aussie Transcontinental LNG Pipeline
ConocoPhillips will consider diverting natural gas from fields in northern Australia along a proposed transcontinental pipeline that would link directly to markets in the southeast, a senior executive told Reuters on Thursday. The U.S. oil major is also leaning towards developing the Barossa gas field offshore northern Australia, with a final decision due in early 2019, Kayleen Ewin, the company's vice president for sustainability, communications and external affairs, said in an interview.
Kazakhstan Files $1.6 bln Claim Against BG-Eni Venture
Kazakhstan has filed a $1.6 billion claim against a group led by BG Group Plc and Eni SpA which is developing the Karachaganak gas condensate field, Russia's Lukoil, also a consortium member, said. The move is the latest sign of tensions between global energy majors and national companies in resource-rich nations as low oil prices put more strain on state budgets which have ballooned over the past decade. The dispute…
Kazakhstan Considering $2 bln Fine on BG-Eni Venture
Kazakhstan is considering levying a fine of as much as $2 billion on a gas project led by BG Group Plc and Eni SpA for failing to fulfil certain contractual obligations, Bloomberg reported. The fine would be roughly in line with penalties the government threatened to impose in a 2010 dispute that ended with the state taking a 10 percent stake in the gas and condensate project, Bloomberg reported, citing sources. Eni and BG each own 29.25 percent of the Karachaganak project in north-west Kazakhstan…
Yinson Wins $2.5 bln Ghana Oil & Gas Contract
Yinson Holdings Bhd , Malaysia's oil and gas services firm, said on Wednesday it secured a $2.54 billion floating production, storage and offloading (FPSO) vessel charter contract for oil and gas support operations in Ghana. Yinson said it won the contract, for a firm charter period of 15 years with 5-yearly extension options exercisable by the clients, from Italy-based oil and gas group Eni SpA's unit in Ghana, according to a local stock exchange filing.
Petrobras: First Oil From Anadarko-led US Offshore Field
Brazil's state-run oil company Petroleo Brasileiro SA said on Monday that it produced its first oil from the Lucias offshore oil field in the Gulf of Mexico with project leader Anadarko Petroleum Corp and four other partners. The field, which produced its first oil on Friday, is expected to produce about 80,000 barrels of oil a day and 450 million cubic meters (12.7 million cubic meters) of natural gas a day when fully operational, according to Anadarko's website.
Cyprus: No Talks While Turkish Ships Mount a Challenge On Gas
Cyprus's president vowed on Monday to stay away from peace talks with Turkey as long as Turkish ships remained off the island, threatening its right to explore for natural gas offshore. Turkey, which supports a breakaway state in northern Cyprus, dispatched a research vessel to the south of the island late last year while companies commissioned by the internationally recognized government explored offshore. "My participation…
Libya Hopes to Restart El Feel Oilfield Next Week
Libya hopes to restart oil production at the southwesterly El Feel field next week, a spokesman for the state National Oil Corp (NOC) said on Tuesday. NOC shut down the field more than a week ago when clashes forced the closure of the neighbouring El Sharara oilfield. Both sites use the same power supply. NOC spokesman Mohamed El Harari said engineers had started technical checks and maintenance work at El Feel, which is operated jointly by NOC and Italy's ENI SpA.
Eni Sticks to Production Guidance as Cash Cheers Investors
Italian oil and gas group Eni SpA kept to its full-year production outlook on Thursday after third-quarter results beat expectations, shrugging off falling oil prices. Oil majors have seen their stock market values fall since mid-June, in step with a 25 percent drop in crude oil prices to four-year lows on slowing global demand and ample supply. State-controlled Eni said adjusted net profit reached 1.17 billion euros ($1.5 billion) in the three months to Sept.
Chevron: 'lessons learned' after Angola LNG missteps
A string of missteps at a $10 billion Angolan liquefied natural gas venture has hurt Chevron Corp's reputation as a top-notch operator of profitable energy projects around the world. Chief Executive Officer John Watson vowed Chevron will learn from the stumbles, which include multiple electrical fires, pipeline leaks, and even a worker's death after a rig collapsed last summer. The company plans to have the LNG project up and running by next year.
Eni Chief Under Investigation for Nigerian Oil Deal
Eni SpA chief Claudio Descalzi has been placed under investigation over alleged corruption relating to a big Nigerian oil deal, the company said on Thursday, just four months after he took the helm at the oil major, Italy's biggest listed company. Milan prosecutors opened a probe earlier this year and have now widened the net to include Descalzi, in a case relating to a $1.09 billion acquisition of Nigeria's OPL-245 offshore oil block in 2011.
Italian Unions Call strike at Eni Sites
A one-day strike will shut all of oil and gas group Eni SpA's Italian operations on July 29 to protest at management plans to permanently close or convert some of the company's unprofitable refineries, labour unions said on Friday. The 30,000-strong strike will include most of Eni's Italian staff and will lead to the shutdown of refineries, petrochemical and other production activities, as well as commercial, administrative and other offices, the statement said.
GDF Suez, Santos Scrap Floating LNG Project
Other options could include pipeline to Darwin; Santos remains bullish on LNG demand outlook. GDF Suez SA and Santos Ltd have dropped plans for a multibillion dollar floating liquefied natural gas (LNG) project off northern Australia, citing poor expected returns, and said on Thursday they aim to consider alternatives swiftly. The decision comes amid worries about $180 billion worth of future LNG projects in Australia…
Offshore Venezuela Gas Field, Perla, Deal Agreed
Venezuela's state oil company Petroleos de Venezuela SA (PDVSA) signed a joint venture agreement with Italy's Eni SpA and Spain's Repsol SA on Wednesday to develop a natural gas field that holds some 15 trillion cubic feet of reserves. Eni and Repsol will provide $1 billion in financing for the offshore Perla project, Repsol said in a statement, adding the loan will be backed by sales of a form of very light crude oil known as condensate.
