Iraq and an international consortium led by Russias Gazprom Neft have awarded Petrofac a US$329.7mn deal to develop the untapped Badra oil field, according to government spokesman Ali Al Dabbagh .
Exploration & Production
PDO production levels soared in 2011
PDOs 2011 production reached the second highest level in its history with production levels hitting 1,206,000 barrels oil equivalent per day (boe/d).
Eni’s production in Libya recovers
Italys Eni reported its 2011 net profit rose 9.1 per cent to US$9 billion thanks to higher oil prices and faster recovery of its Libyan output.
Total looking to accelerate production
Total posted a 7 per cent increase in profit on higher crude prices and announced that its net income for 2011 was US$15.9 billion, a 17 per cent increase over 2010.
Kuwait Energy makes another discovery in Egypt
Kuwait Energy has made an oil well discovery in the Western Desert in Egypt. More Articles …
