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Oil & Gas Companies News

Equator provides Bilabri Project Update
Nigeria >> 4/30/2007 - Equator Exploration Limited announced that it was in discussions with the lease holder of OML 122, Peak Petroleum Industries Nigeria Limited ('Peak') regarding Peak's failure to pay cash calls on the ...
Eni purchases ExxonMobil petroleum business in Czechia, Slovakia and Hungary
Italy >> 4/27/2007 - Eni and ExxonMobil Central Europe Holding GmbH, Hamburg, announced that an agreement has been signed for the sale of shares of Esso spol s.r.o (Esso Czechia ), Esso Slovensko spol s.r.o. ( Esso Slovak...
BP Acquires Oxy's Pakistan Assets
Pakistan >> 4/23/2007 - BP will acquire all of Oxy's remaining interests in Pakistan. At year-end 2006, Oxy's net proved Pakistan reserves were approximately 3 million Bbls of oil and 68 Bcf of natural gas. Pakistan's curren...
Gazprom enters Sakhalin II project
Russia >> 4/19/2007 - Sakhalin Energy, operator of the Sakhalin II project, signed a Sale and Purchase Agreement with OAO Gazprom (Gazprom) to trigger the transfer of shares in Sakhalin Energy. This transaction implements ...
R&DC, Petrobras Build Downstream Ties
Saudi Arabia >> 4/19/2007 - The Research and Development Center (R&DC) recently held the first Downstream Workshop between Saudi Aramco and Brazilian oil company Petrobras to strengthen the relationship between the two companies...
Dana Makes Strategic Acquisition in Egypt
Egypt >> 4/18/2007 - Dana Petroleum plc announced that its wholly owned subsidiary, Dana Petroleum (E&P) Limited, has signed an agreement with Devon Energy Corporation to acquire Devon's entire upstream petroleum business...
Iran signs Nargan, Technimont €436m petrochemical contracts
Iran >> 4/16/2007 - Iranian company Nargan and Italy’s Technimont signed the contracts of Mahabad and Lorestan petrochemical complexes on Sunday worth €436 million (each €218 million) with Iran’s Bakhtar Petrochemical Co...
Iran to Extend Deadline for Azar Oilfield Contract
Iran >> 4/16/2007 - Iran’s Oil Engineering and Development Co. announced that it would extend the Norwegian company Hydro Zagros’s deadline for signing a contract on development of Azar oilfield by two months. Hydro Zagr...
Shell grows retail business in Malaysia through ProJet acquisition
Malaysia >> 4/16/2007 - Royal Dutch Shell (Shell) announced the signing of an agreement with ConocoPhillips for the acquisition of 100% of shares in its wholly owned subsidiary, Conoco Jet (Malaysia) Sdn Bhd, which operates ...
Inking 3 MOU between Egypt and Russia
Egypt >> 4/10/2007 - Eng. Sameh Fahmi, Minister of Petroleum held talks with Mr. Viktor Khristenko, Russia's Industry and Energy Minister where they discussed means of bolstering cooperation in executing joint projects in...
Halliburton Completes Work in Iran
Iran >> 4/9/2007 - Halliburton announced that all of its contractual commitments in Iran have been completed and the company is no longer working in Iran. The winding down of Halliburton's work came as the result of a d...
Perenco Acquires Further Interest in Egypt
Egypt >> 4/4/2007 - Perenco has completed the acquisition of a further 50% interest in the Offshore North Sinai Concession (ONS) in Egypt through the purchase of Burlington Resources Egypt Limited from ConocoPhillips. Pe...
Eni signs MoU with Sonangol for acquisition of Angola LNG Limited stake
Angola >> 4/2/2007 - Eni and Sonangol have executed a Memorandum of Understanding for the acquisition by Eni Angola Exploration B.V. (a 100% affiliate of Eni) of a 13,6% stake in Angola LNG Limited Consortium (A-LNG). Thi...
Australian Oil and Gas Companies Form New Project Alliance, With Initial Focus on Africa
Australia >> 3/28/2007 - Five Australian oil and gas companies have formed an Alliance to collectively acquire hydrocarbon projects together focusing initially on Africa. The companies have signed a Memorandum of Understandin...
Baraka Receives Approval For Transfer of Operatorship to Eni
Mali >> 3/23/2007 - Baraka Petroleum Limited has received formal approval from the Authority for the Promotion of Oil Research in Mali (AUREP)for the transfer of Operatorship to ENI S.p.A for its five blocks (1, 2, 3, 4 ...
Etap To Exercise Its 20 Percent Participation Option In The Oudna Field, Offshore Tunisia
Tunisia >> 3/20/2007 - Lundin Petroleum AB announced that ETAP, the Tunisian state oil company, has decided to exercise its participation option to acquire a 20 percent interest in the Oudna field, offshore Tunisia. Followi...
Burren Announces Proposed Acquisition of Further Interests in the M’Boundi Field
Congo >> 3/19/2007 - Burren Energy Plc has signed an agreement with Eni Congo SA, a wholly owned subsidiary of Italian group Eni S.p.A, to acquire an additional 5.5% interest in the M’Boundi oil field in Congo and a 2% in...
Plectrum Acquires Remaining 10 per cent of REAP Tunisia
Tunisia >> 3/8/2007 - Plectrum Petroleum plc has acquired the remaining 10 per cent. of REAP Tunisia GmbH ('REAP Tunisia') that it did not already own, for a nominal amount.

In June 2006, Plectrum acquired 90 pe...
S-Oil Sells Treasury Shares to Hanjin
Saudi Arabia >> 3/6/2007 - A strategic partnership between S-Oil Corp. and one of logistics and shipping conglomerates was formed March 6 when Hanjin Energy Co. Ltd. obtained 31.9 million treasury shares of S-Oil.

In...
Equator Exploration - OML 122 License (Bilabri Project) in Nigeria
Nigeria >> 3/5/2007 - Equator Exploration Limited announced that its partner in the Bilabri development has failed to pay its cash calls and as such is in default under the terms of the OML 122 Finance and Service Agreemen...

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