BP Invests $6 Bln in Offshore Azerbaijan Project
The British multinational oil and gas company BP and its partners will lead a $6 billion development of the giant Azeri-Chirag-Deepwater Gunashli (ACG) oil-field complex offshore Azerbaijan.The supermajor said that the Azeri Central East (ACE) project includes a new offshore platform and facilities designed to process up to 100,000 barrels of oil per day. The project is expected to achieve first production in 2023 and produce up to 300 million barrels over its lifetime.
PDVSA Inks $1.45 Bln in Financing to Boost Oil Output
Venezuelan state oil company PDVSA on Friday signed financing deals totaling nearly $1.45 billion with a local firm and India's ONGC Videsh Limited to raise production at joint venture operations. DP Delta Finance, led by the owner of local oil producer Delta Petroleum, will provide $1.13 billion in financing to boost output at a joint venture between PDVSA and Delta Petroleum, PDVSA said. ONGC will provide $318 million to finance increased crude production at the joint venture Petrolera Indovenezolana, S.A., where it holds a 40 percent stake alongside PDVSA.
Mexico Names Qualified Firms for Deepwater Tender
Mexico's energy regulator said on Wednesday that 26 companies had qualified to participate in the country's deep-water oil tender in December, the jewel in the crown of a landmark energy sector opening. Of the 26 companies that have qualified for the so-called Round 1.4 tender, 16 are operators, including state-owned oil giant Pemex, and 10 are financial partners, the National Hydrocarbons Commission (CNH) said on Twitter. Any consortia that form will be revealed on Nov. 28, the CNH said. Atlantic Rim México, S. de R.L. de C.V.
Rosneft, ONGC Confirm Successful Cooperation
Rosneft and ONGC Videsh Limited signed an Agreement of Confirmation of successful completion of the first stage pre-completion actions in relation to the creation of a joint venture in JSC “Vankorneft”. The document was signed in the presence of the President of Russia Vladimir Putin and the Prime Minister of India Narendra Modi by Rosneft Chairman of the Management Board Igor Sechin and the Managing Director of ONGC Videsh Limited Narendra Verma. The document…
Rosneft Sells 15% in Vankorneft to ONGC Videsh
Rosneft and Indian ONGC Videsh Limited during the Eastern Economic Forum signed the agreement of sale and purchase of 15% in Vankorneft and shareholders agreement in regard of the enterprise management. The document was signed by the Chairman of Rosneft Management Board Igor Sechin and Managing Director of ONGC Videsh Limited Narendra Verma. Parties intend to complete the transaction upon getting necessary regulatory and other approvals. ONGC Videsh will have two places in the Board of Directors of Vankorneft.
Rosneft and ONGC Videsh sign MOU
Rosneft and ONGC Videsh Limited signed a Memorandum of Understanding (MOU) yesterday for cooperation in exploration, appraisal and hydrocarbon producton on the continental shelf of the Russian Federation Igor Sechin, President and Chairman of the Management Board, Rosneft and Dinesh Kumar Sarraf, Chairman of the Board of Directors, ONGC Videsh Ltd and Chairman & Managing Director, ONGC signed a Memorandum of Understanding at the St. Petersburg International Economic Forum, in the presence of Mr. Vladimir Putin, President of the Russian Federation.
