Energy projects that need oil prices above US$60 per barrel in order to break even risk being uncommercial going forward, according to the Norwegian energy research firm Rystad Energy
Exploration & Production
Petrofac to collaborate on global wells programme
Petrofac’s Engineering and Production Services division (EPS) has signed a well management contract under Maersk Drilling’s master alliance agreement with Seapulse Ltd, an exploration company
Total enters Libya’s Waha Concessions
French major Total and Libya’s National Oil Corporation (NOC) have signed an agreement to implement Total’s participation in the Waha concessions, located in the Sirte Basin in Libya
East Mediterranean may hold around 25 tcf of natural gas reserves
Based on currently available geophysical data, the Lebanese government estimates that the offshore oil and gas frontier areas in the East Mediterranean may hold around 25 tcf of natural gas reserves, though this has yet to be proven
Gazprom Neft increases production in Iraq
Gazprom Neft subsidiary Gazprom Neft Middle East has produced its three-millionth tonne of oil since starting commercial production at the Sarqala field in the Kurdistan Region of Iraq (KRI)
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