Exploration & Production

East Mediterranean may hold around 25 tcf of natural gas reserves

16807826790 792a76d1be cBased on currently available geophysical data, the Lebanese government estimates that the offshore oil and gas frontier areas in the East Mediterranean may hold around 25 tcf of natural gas reserves, though this has yet to be proven

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Gazprom Neft increases production in Iraq

GazpromGazprom Neft subsidiary Gazprom Neft Middle East has produced its three-millionth tonne of oil since starting commercial production at the Sarqala field in the Kurdistan Region of Iraq (KRI)

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KCA Deutag wins land drilling contracts in Middle East, Africa and Europe

KCA Deutag Land RigjpgDrilling contractor KCA Deutag (KCAD) has announced that its land drilling operation has won new contracts worth approximately US$460mn in the Middle East, Africa and Europe

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‘Iran’s giant oil discovery brings little benefit under US sanctions’

32538491420 e8131ef27a cFollowing the recent announcement of new giant oil discovery in Iran, with estimates of 53bn bbl in place, GlobalData analyst said the discovery will bring little benefits under the US sanctions

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US oil production growth heading for major slowdown, says IHS Markit

42253422592 2775f354ac cThe US shale production, the chief source of rapid growth that made the US the world’s largest oil producer, is slowing down fast, according to a new report by analytics firm IHS Markit

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