Iran has signed a contract worth US$1.5 billion with a consortium of local firms to develop the third phase of the south-western Darkhovin oil field, Oil Ministry website SHANA reported.
Industry
IEA warns on impact of economic uncertainty
The International Energy Agency (IEA) warned that a double-dip recession could reduce global energy demand enough to push global oil markets into surplus next year and could see oil prices decline further.
Dana Gas posts positive Q2 earnings
Dana Gas posted very positive net profits for the second quarter of 2011 of US$34mn which is an increase of 276 per cent compared to the second quarter results last year.
Taqa Q2 profits soar
41 firms have been selected for Iraq’s next bidding round
The Iraqi oil ministry has named the 41 international companies that have been selected to compete for 12 exploration blocks in the next bidding round which is scheduled to take place in January 2012.
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