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Oil & Gas Companies News

Mediterranean Oil & Gas Acquires 25% Interest in Medjerda Block in Northern Tunisia
Tunisia >> 3/29/2006 - The Board of Mediterranean Oil & Gas Plc announce that the Company’s wholly owned subsidiary Malta Oil Ltd has entered into an agreement to acquire a 25% interest in the Medjerda Block petroleum licen...
SABIC Increases Its Stake in IBN ZAHR to 80%
Saudi Arabia >> 3/28/2006 - Saudi Basic Industries Corporation (SABIC) signed an agreement to purchase NESTE Oil's 10% stake in the Saudi European Petrochemical Company (IBN ZAHR). Following the transaction, SABIC will own 80% o...
ExxonMobil Signs Agreements for Upper Zakum Oil Field Participation
United Arab Emirates >> 3/27/2006 - Exxon Mobil Corporation and subsidiaries have signed agreements with Abu Dhabi National Oil Company (ADNOC) through which ExxonMobil Abu Dhabi Offshore Petroleum Company Limited (EMAD) receives a 28 p...
Restatement of Historical Results following 2006 Resegmentation
Malaysia >> 3/20/2006 - Following the launch of BP Alternative Energy in November 2005 and the sale of Innovene to INEOS in December 2005, certain assets have been transferred between segments to reflect the operational stru...
Equator Acquires Interest In Block 2 Of Nigeria-Sao Tomé JDZ
Nigeria >> 3/17/2006 - Equator has together with its co-venturers signed a Production Sharing Contract with the Nigeria/Sao Tomé and Principe Joint Development Authority ("JDA"). A 15% interest in the highly sought after JD...
OMV Closes Sale of E&P Assets in Qatar
Qatar >> 3/8/2006 - The Qatar assets had been acquired by OMV in 2003, as part of the acquisition of the international E&P portfolio of Preussag Energie International GmbH. They comprise non-operated working interests of...
Wood Group Awarded BP's Tangguh Gas Processing Facilities Project in Eastern Indonesia
Indonesia >> 3/2/2006 - PT. Wood Group Indonesia, part of John Wood Group PLC, has been awarded the project and construction management support services contract by BP for the Tangguh Gas Processing Facilities in Papua, in t...
Khurais Oil Project Takes Major Step
Saudi Arabia >> 3/1/2006 - The largest crude increment program ever to be carried out by Saudi Aramco took a major step forward with a key job explanation meeting held recently in Dhahran. Saudi Aramco met Feb. 22 with contract...
Middle East Petrochemical Industry Breaks New Ground With the Launch of The GPCA
Saudi Arabia >> 3/1/2006 - A Memorandum of Understanding has recently been signed by the founding members of the Gulf Petrochemicals and Chemicals Association (GPCA), thus creating the first voluntary, non-profit association of...
Al-Naimi: Terrorist Attempt Forestalled
Saudi Arabia >> 2/24/2006 - His Excellency the Minister of Petroleum and Mineral Resources, Ali bin Ibrahim Al-Naimi, has announced that Saudi security agencies and Saudi Aramco employees forestalled a terrorist attempt at the A...
Saipem Acquires Snamprogetti
Italy >> 2/24/2006 - Saipem has agreed with Eni the purchase of 100% of the equity of Snamprogetti for €680m in cash; the closing of the transaction will take place by March, 31 2006. Snamprogetti is engineering and const...
Statoil Announces Cooperating Agreement With Halliburton
Norway >> 2/23/2006 - A cooperation agreement has been concluded by Statoil with oil service company Halliburton on developing new technology. The deal covers several drilling and well technology projects. The agreement in...
Shell and Sonatrach Sign MOU
Algeria >> 2/6/2006 - Royal Dutch Shell plc and Sonatrach signed a Memorandum of Understanding covering multiple business initiatives, both in Algeria and internationally. Areas of cooperation will include investigating th...
Petro-Canada Closes Sale of Its Syrian-Producing Assets
Syria >> 1/31/2006 - Petro-Canada has closed the sale of its Syrian-producing assets for €484 million, before adjustments. The buyer is a joint venture of companies owned by India’s Oil and Natural Gas Corporation (ONGC) ...
Apache, Amerada Hess Complete Transactions in Egypt
Egypt >> 1/17/2006 - Apache Corporation has completed the sale of its 55 percent interest in the deepwater section of Egypt's West Mediterranean Concession to Amerada Hess Corporation for $413 million. Apache President an...
Petro-Canada To Sell Mature Syrian Production
Syria >> 12/20/2005 - Petro-Canada has reached an agreement to sell the company holding its producing assets in Syria to a joint venture of companies owned by India’s Oil and Natural Gas Corporation (ONGC) Limited and the ...
Note of Agreement Among The Three Companies
Japan >> 12/19/2005 - Nippon Oil Corporation, Teikoku Oil Co., Ltd. and INPEX Corporation have reached an agreement in connection with the integration of Teikoku Oil Co., Ltd. and INPEX Corporation as set forth below. 1) N...
Beach Petroleum Moves to 50% Ownership of New Producing Bass Strait Oil Field
Australia >> 12/15/2005 - Beach Petroleum Limited (“BPT”) has moved to a 50% stake in the Basker-Manta- Gummy (“BMG”) oil and gas fields in the Gippsland area of Bass Strait. The Company had exercised its option to acquire fro...
Shell Announces 2006 Capital Investment Program
United Kingdom >> 12/13/2005 - Royal Dutch Shell announced today a capital investment Program for 2006 of around $19 billion in support of its strategy of more upstream and profitable downstream. Planned 2006 Upstream investment is...
Petrel Signs Iraqi Contract
Iraq >> 12/2/2005 - Petrel has formally signed the Subba & Luhais oil field development services contract with the Iraq Ministry of Oil. The project is to develop existing reserves to raise production from under 50,000 b...

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