Exploration production

Exploration & Production

UAE oilfields receives new bids from Asian and western buyers

Asian and western firms have placed new bids for the UAE’s biggest oilfields after a deal with oil majors expired this year but the Gulf country is yet to decide whether to let Asian oil buyers in for the long haul, government sources said

Sonatrach’s US$100 billion plan to develop Algeria’s oil and gas fields

Sonatrach has announced the investment of US$100bn to increase oil and gas output from 2014-18 in Algeria, besides starting production of shale gas in 2020

Hyundai Heavy Industries secures US$1.94 billion contract for offshore platform in UAE

South Korea’s Hyundai Heavy Industries has won a US$1.94bn contract from Abu Dhabi Marine Operating Company (ADMA OPCO) to build an offshore oil and gas platform in the UAE capital

QPI and Shell sign cooperation deal for Brazil’s offshore oil project

Qatar Petroleum International (QPI) has signed a memorandum of cooperation with Shell following the purchase of the latter’s 23 per cent of stake in oil project — BC-10 or Parque das Conchas — offshore Brazil for US$1bn