Catégorie Projects

Petrobras CEO says Libra to enter production in 2020

Brazil’s biggest oil discovery, the offshore Libra area, will not enter production until 2020 and peak output will come at least four years later, the head of state-run oil company Petrobras said last Thursday. Chief Executive Maria das Graças Foster said in a television interview that heavy investment in Libra will begin in 2017 and […]

Russia-South Korea pipeline talks revived

Russia and South Korea revived talks on Wednesday on a long-mooted gas pipeline crossing North Korea, in a sign of continuing efforts to bring Pyongyang into the international economic fold despite diplomatic tensions this year. “We have agreed that for both our countries the project is going to be a key one,” Russian energy minister […]

Asian groups dominate Brazil oil auction

The auction for one of Brazil’s biggest oil discoveries attracted little interest from western companies, with the list of bidders led instead by Chinese companies and other Asian state-owned oil groups. Many investor-owned companies such as Exxon, BG Group, BP and Chevron did not register to bid for Libra, considered the crown jewel of Brazil’s […]

Saudi extends clean fuels bid deadline

State oil giant Saudi Aramco has extended the deadline for companies to bid for construction of a clean fuels and aromatics project at its largest refinery in Ras Tanura, three industry sources said. Bids are now due by October 20, pushed back from September 8, for the multi-billion-dollar project. ‘Bidders requested an extension as there […]

Kashagan oilfield begins production

The long-delayed supergiant Kashagan field in Kazakhstan has produced its first oil, putting the Central Asian country on course to become one of the biggest crude producers in the world over the next decade. The field, one of the world’s largest, most challenging and complex projects, is estimated to hold as much as 35bn barrels […]

Total warns Shell of corrosive drilling fluid leak at Shearwater

Total has warned Royal Dutch Shell that its nearby Shearwater field may be at risk as a corrosive drilling fluid that caused the North Sea’s worst gas leak in 20 years is expected to threaten similar deep-sea wells. The fluids, such as calcium bromide, implicated in the leak at the company’s Elgin field are said […]

ENI and PDVSA to form JV to develop Perla gas condensate reserves

Italy-based oil major ENI and Venezuela’s state-owned oil firm Petroleos de Venezuela (PDVSA) have entered into an agreement to form a joint venture (JV) to develop an estimated 170 million barrel gas condensate reserves in the Perla field. As per the agreement, PDVSA will own 60 percent interest in the JV, while ENI will hold […]