A US$12.5 billion agreement between Iraq, Royal Dutch Shell and Mitsubishi Corp. for the capture of flared-off natural gas in Iraqs oil fields in the south will hopefully be signed in January 2011.
Gas
Gas contracts worth US$1.2 billion awarded by Gasco
Abu Dhabi Gas Industries (Gasco), which is a subsidiary of Abu Dhabi National Oil Co (Adnoc), awarded two contracts valued at US$1.2 billion to the Italian unit of French oilfield firm Technip and Dodsal India.
Algeria’s LNG output tumbles
Algerias liquefied natural gas (LNG) output has fallen to about half of the countrys installed capacity after sweeping leadership changes at the state petroleum company Sonatrach brought on by a government corruption investigation.
Majority of new discoveries are in Egypt
Egypt has recorded 61 per cent of the oil finds of the Organization of Arab Petroleum Exporting Countries (OAPEC) member states in the period from 2005 to 2009, Egyptian Minister of Petroleum Sameh Fahmi said recently.
Extension for Saudi gas hunt
Saudi Arabia has granted additional time to one of the consortia hunting for gas in the vast desert in the countrys southeast, an industry source said recently.
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