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 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
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
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
TransGlobe has discovered oil in its first exploration well — NWG 1 — on Lower Nukhul located at North West Gharib (NWG) concession in Egypt
