Posts Tagged ‘conventional resources’

Rosneft goes global

Rosneft’s Neftegaz signed farm-in agreement with ExxonMobil in Gulf of Mexico deepwater The first week of March gave the opportunity to Rosneft to unveil its objective to go global in multiplying strategic partnerships with leading companies such as ExxonMobil. On March 6th 2013, Rosneft‘s subsidiary Neftegaz America Shelf LP (Nefetgaz) signed […]

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BP to increase capital expenditure to $27 billion annually by 2020

BP to focus on crude oil Exploration & Production  UK major BP PLc (BP) is planning to increase its capital expenditure per year from $19 billion in 2011 and $22 billion in 2012 to $24 billion in 2014 and $27 billion by 2020. After Macondo blow and TNK-BP turbulences, BP is […]

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Ecopetrol and major companies to prospect shale gas in Colombia

Canacol, ExxonMobil, Nexen, Shell lead exploration The national oil company Ecopetrol invites international oil companies such as Canacol, ExxonMobil, Nexen, Shell for partnership to explore and develop shale gas in Colombia. Ecopetrol is owned at 88.5% by the Colombian Government while the remaining shares are floated at the Bogota and New […]

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Apache in Brief

To be both a competent explorer and acquirer Investors established Apache Corporation (Apache) in 1954 with only $250,000 capital to become an international oil and gas company listed in NYSE (APA) Today, Apache has taken the world market leadership of the independent oil and gas companies.exploration and production companiese In […]

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US shale gas expansion pushes QP and Sabic to go global

Qatar Petroleum in JV with Exxon to export US LNG Qatar Petroleum (QP) and ExxonMobil announced to use their joint venture called Golden Pass Products to export liquefied natural gas (LNG) from USA. Created with 70% Qatar Petroleum working interests, the Golden Pass LNG project was constructed as a LNG import terminal. With […]

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Conventional oil and gas

Definition Conventional oil and gas refers to petroleum, or crude oil, and raw natural gas extracted from the ground by conventional means and methods. Comments In practice conventional oil and gas, or the term of conventional resources, applies to oil and gas which can be extracted, after the drilling operations, […]

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Morocco to boost offshore exploration and oil shale development

Cairn, San Leon, Genel increase footprint in Morocco On the same week, Cairn Energy (Cairn) announced to sign a Farm-in Agreement for offshore exploration and production while San Leon Energy (San Leon) extended its oil shale onshore acreage, both in Morocco. These moves reflects the potential of resources and the […]

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$1.4 billion Devon-Sumitomo joint venture in shale oil

Devon and Sumitomo to develop Permian Basin tight oil Devon Energy Corporation (Devon) and Sumitomo Corporation (Sumitomo) entered an Agreement to jointly develop the Cline Shale and the Midland-Wolfcamp tight oil fields within the Permian Basin. The Cline Shale and the Midland-Wolfcamp tight oil fields are part of Devon‘s operations in USA where Devon has still […]

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Shell, CNOOC and CNPC to share production and technology

Shell, CNOOC and CNPC sign China and Gabon deals July 2012, Shell, China National Offshore Oil Corp (CNOOC) and China National Petroleum Corp (PetroChina or CNPC) announced to have signed several contracts for oil and gas production sharing and co-operation in China and in Gabon. In these agreements:  – Shell and CNOOC signed two offshore oil and gas Production […]

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CNOOC and Sinopec to pump $20 billion in upstream acquisitions

CNOOC and Sinopec target Nexen and Talisman assets July 23rd 2012, the Chinese CNOOC Ltd (CNOOC) announced to have signed an Arrangement Agreement with Nexen for the acquisition of the Nexen shares listed in Toronto and New York Stock Exchanges. The aggregate value of the proposed acquisition is approximately $15.1 billion […]

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