Italian export credit agency SACE has guaranteed US$100mn allocated by HSBC Bank for financing the modernisation of Sohar Refinery, which is owned and operated by Oman Oil Refineries and Petroleum Industries (ORPIC)
Exploration & Production
Mubadala Petroleum to sell complete stake in offshore Thai oil block
Mubadala Petroleum will sell its entire stake in a Thai oil block to an upstream oil and gas firm KrisEnergy for US$102.5mn
Frontier Resources identifies exploration areas in Oman’s Block 38
Frontier Resources has completed seismic data interpretation for onshore Block 38 in Oman and has identified a number of potential exploration targets
Saudi Arabia to build three new oil refineries
Saudi Aramco has announced that it is building three new refineries with a capacity of 400,000 bpd each in Saudi Arabia
Oil found in Oryx Petroleum’s license area in Kurdistan Region of Iraq
The Demir Dagh-3 well (DD-3) and Demir Dagh-5 well (DD-5) located at Hawler License area in Kurdistan Region of Iraq have proven hydrocarbon presence, according to Oryx Petroleum
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