Continued supply growth will become "unsustainable", leading to a supply shortfall of 4.5mn bpd by 2035 unless exploration results start to "significantly" improve, oil supply research firm Wood Mackenzie has warned
Exploration & Production
Schlumberger and NOV contracted for well operations in Algeria
Algerian state energy company Sonatrach has awarded US oil service firms Schlumberger and National Oilwell Varco (NOV) contracts for managing well operations
Egypt announces new oil exploration
The Egyptian petroleum minister Tarek al-Molla has announced plans to launch a new round of oil exploration
Kuwait Energy signs export oil sales deal for Iraqi block
Kuwait Energy signs export oil sales agreement with State Oil Marketing Company (SOMO) for the Block 9 oilfield onshore Iraq
MENA energy investments forecast to reach US$900bn
Total committed and planned energy investments in the MENA region, including Iran, will reach US$900bn over the next five years, according to a new report published by the Arab Petroleum Investments Corporation (APICORP)
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