:: Saudi Aramco, Conoco Phillips sign $6 billion refinery deal
Posted: 29 May 2006
STATE-RUN Saudi Aramco and Houston-based ConocoPhillips signed a $6 billion agreement to build a 400,000 barrel-a-day oil refinery in Saudi’s Red Sea city of Yanbu.

:: Aabar buys remaining shares of Singapore’s Pearl Energy
Posted: 29 May 2006
Aabar Petroleum Investments Company (Aabar) said it has closed its offer for Pearl Energy, a Singapore-based exploration and production company, on 26 May 2006.

:: UAE’s Horizon to build oil terminal in Morocco
Posted: 29 May 2006
Morocco has awarded a consortium led by UAE Horizon Terminal Limited a licence to build and run an oil terminal at Tangier port, a state port body said..

:: Aramco, Total deal
Posted: 29 May 2006
Saudi Aramco and Total signed a comprehensive Memorandum of Understanding (MOU) related to the planned development of a 400,000 barrel per day world-class, full-conversion refinery in Jubail, Saudi Arabia.

:: Japanese firms buy stake in Oman’s Qalhat LNG
Posted: 29 May 2006
Oman has signed agreements to transfer a nine per cent share of Qalhat Liquefied Natural Gas to three Japanese companies. Itochu Corporation, Mitsubishi Corporation and Osaka Gas oach acquire three per cent of the equity shareholding of Qalhat LNG.

:: Tethys Oil closes Oman acquisition
Posted: 29 May 2006
Tethys Oil has closed the previously acquisition of a 40% interest in Block 15 onshore Oman. Block 15 contains two discovery wells and estimated oil in-place of more than 50 million barrels, with an expected recovery ratio of between 5 and 20%.

:: Syria’s block 26 encounters oil and gas
Posted: 29 May 2006
The Souedieh North well in Block 26 Syria has encountered a series of live oil and gas shows, while being drilled to a depth of 7,298 feet. Wireline log data over the reservoir section is currently assessed.

:: Statoil and Schlumberger to extend life of oil and gas fields
Posted: 29 May 2006
Statoil ASA and Schlumberger Information Solutions (SIS) said they have entered into a three-year technology collaboration agreement to develop new production optimisation technologies to extend the life of oil and gas fields.

:: Saipem gets $425 million EPC contracts
Posted: 29 May 2006
Saipem said it was awarded three EPC contracts worth $425 million for onshore construction in Canada and Saudi Arabia.

:: Melrose expects hydrocarbons in Egypt’s wells
Posted: 29 May 2006
Egypt’s west Khilala No.2 well was drilled to a depth of 10,400 feet using the PD-104 Rig. The Abu Madi Level II reservoir section was encountered high to prognosis and was cored. A single sand interval was encountered from 9,925 ft to 10,090 ft and the gas/water contact established at 10,053 ft giving a gross hydrocarbon column of 128 ft (122 ft net). Wireline sampling and pressures have confirmed the fluid contact.

:: Legal requirements for OMV and Verbund merger not fulfilled
Posted: 29 May 2006
OMV Aktiengesellschaft announces that the necessary parliamentary decisions, which would have been....

:: Crescent completes drilling at Mubarek H-2
Posted: 29 May 2006
The drilling of the Mubarek H-2 offshore Oman was completed at a15, 020 feet total depth, Crescent Petroleum reports.

:: Indago spuds Oman appraisal well
Posted: 29 May 2006
The West Bukha field is the portion of the West Bukha-Hengam gas-condensate field which lies approximately 25 kilometres offshore Oman. Between 1975 and 1986 there were 3 wells drilled on the structure, two of which produced gas and condensate and a third downdip which produced water.