Saudi Aramco contracts Magseis and BGP for seismic acquisition
Magseis and partner BGP have been awarded Saudi Aramco’s S78 project for large-scale ocean-bottom seismic acquisition in the Red Sea
E&P
QP to buy Chevron’s partial stake offshore Moroccan interests
Qatar Petroleum (QP) and Chevron Morocco Exploration Limited, subsidiary of Chevron, have signed a deal to acquire a 30 per cent participating interest from the latter’s 75 per cent share in three deepwater offshore leases in North Africa
Petsec Energy completes acquisition of Damis License onshore Yemen
Australia’s Petsec Energy has acquired a 100 per cent participating interest and 82.5 per cent equity interest and operatorship of the Damis (Block S-1) Production Licence in Yemen
World Bank slashes oil price forecast with gradual recovery in view
In its annual Commodity Markets Outlook, the World Bank has slashed crude oil forecast by US$14 to US$37/barrel stating that weak demand from emerging markets is likely to continue in 2016
'Oman the largest non-OPEC oil producer in Middle East'
According to the EIA, Oman has been recognised as the largest producer of oil and natural gas outside of the OPEC member countries
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