MEOG - Middle East Oil & Gas
Leviathan partners boost field valuation, plan higher output, exports
The partners in Israel’s giant offshore Leviathan gas field have placed a new value on the reservoir’s value following an updated report on it status by Texas-based Netherland, Sewall and Associates.
Maha kicks off Block 70 production tests in Oman
Swedish explorer Maha Energy this week announced the start of production testing at Block 70 onshore Oman as part of an eight-well drilling campaign. The company said it had begun with the Mafraq-9 well, with new wells to be added to the test system.
Kuwait declares state of emergency following oil spill
Kuwait Oil Co. declared a state of emergency on March 20 after an oil spill occurred in a location in the west of the country. However, no poisonous gas leakage was detected at the site of the incident.
Iran and Saudi look to continue thaw following deal
The Iranian Ministry of Petroleum this week released a statement expressing its willingness to accept foreign investment in its oil and gas projects.
Turkey eyes 40 bcm per year gas exports
Turkey wants to position itself as a key natural gas exporter on the back of its key Sakarya discovery in the Black Sea, the country’s energy minister, Fatih Donmez, said.
Petrofac wins Oman engineering work
UK-based services company Petrofac has been chosen by Shell to undertake a new engineering and procurement services project in Oman. Petrofac said it would carry out a five-year EPS contract for Shell’s Block-10 Mabrouk Phase 2 Project.
MEOG: IDC completes well at East Baghdad
Aramco posts best ever results
This week, Saudi Aramco announced its full-year 2022 financial results, revealing a record net income of $161.1bn – its highest annual profits as a listed company. Aramco also declared a Q4 dividend of $19.5bn, which will be paid in Q1 2023.
COMMENT: The Saudi-Iran rapprochement will lead to lower tensions in the Middle East, but rivalries remain
Saudi Arabia and Iran agreed to restore diplomatic ties on March 10, bringing an end to seven years of conflict between the two nations in a deal brokered by China that is expected to have wide-ranging consequences.
Iran offering crude, gas and condensate on IRENEX
Iranian Oil Minister Javad Owji said at the weekend that crude oil and gas condensates would be sold to foreign customers on the Iran Energy Exchange (IRENEX). They would be available to domestic buyers at the same price during a particular period.
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