:: Forget realities
Posted: 13 November 2006
All the E&P majors are sending one common message, that is, we have enough actual supplies of oil. But a review of recent oil prices indicates that oil prices increased substantially with slightest news on political events.

:: Dana Gas to acquire Centurion
Posted: 13 November 2006
Dana Gas PJSC, the region’s first private-sector regional gas company, announced today that it has entered into an agreement with Centurion Energy International Inc. to acquire all of Centurion’s outstanding common shares for C$12.00 per share, representing an equity value of approximately C$1.15 billion (US$1.02 billion) on a fully-diluted basis.

:: Topaz in $ 60 million fleet expansion
Posted: 13 November 2006
Topaz Energy and Marine’s Azerbaijan subsidiary, BUE Caspian has launched two new vessels to its offshore vessel fleet. With an investment of over 60 million dollars, the two new purpose built vessels will begin operations in the Caspian region later this year.

:: Saudi mooring vessel, tugs added
Posted: 13 November 2006
The increasing capabilities of the Kingdom's private sector are evident in new agreements between Saudi Aramco and a longtime Marine partner to provide docking tugs and a mooring vessel for company loading facilities at the ports of Ras Tanura and Ju'aymah in the Arabian Gulf .

:: Thule secures remaining financing for jack-up construction
Posted: 13 November 2006
Thule Drilling has received an offer for a $75 million loan from Fortis Bank to complete the remainder of the required financing for Thule drilling's three jackups under construction at QGM at Hamriyah Freeport, Sharjah, UAE.

:: Dalma Energy in major expansion drive
Posted: 13 November 2006
Capitalising on the rapidly increasing demand for drilling services in the Middle East North Africa region, Dalma Energy, an Aabar subsidiary which currently operates 18 rigs, has invested $80 million in purchasing four new rigs.

:: Abu Dhabi and Shell to reduce greenhouse-gas emissions
Posted: 13 November 2006
Abu Dhabi Future Energy Company (ADFEC), wholly-owned by Mubadala Development Company, has signed an agreement with Shell to jointly develop projects to reduce greenhouse-gas emissions and monetise the resulting emission reduction credits under the Clean Development Mechanism (CDM) of the Kyoto Protocol.

:: First Calgary signs production deal with Sonatrach
Posted: 13 November 2006
First Calgary Petroleums said that it has signed a long-term Take or Pay Gas Marketing Agreement with Sonatrach , Algeria 's national oil company, covering Block 405b in Algeria 's Berkine Basin .

:: Gas to the first GTL facility
Posted: 13 November 2006
Al Khaleej Gas (AKG) plant at Ras Laffan will provide gas to the first ‘Gas-to-Liquids’ (GTL) facility to be built and operated in Qatar, said a top official.

:: Gulf Capital acquires stake in MIS
Posted: 13 November 2006
Gulf Capital, the highest capitalized investment company in the UAE, announced that it has acquired, as part of a large investment consortium, a 21% stake in Maritime Industrial Services Co. (MIS), a regional leader in the oil and gas construction and services industry.

:: TAQA raises $3.5 Billion
Posted: 13 November 2006
The CEO of Abu Dhabi National Energy Company (TAQA) confirmed that the Abu-Dhabi government-back investment body has successfully raised $3.5 billion as part of a long term strategy to expand Abu Dhabi ’s reach within the global energy market.

:: Shipments Feed Rabigh Project
Posted: 13 November 2006
Construction is ramping up in the Rabigh Refining and Petrochemical Co. (PETRORabigh) project as equipment shipments arrive from all over the world to the growing seaport and industrial hub.

:: Petrofac acquires stake in Tunisian field
Posted: 13 November 2006
Petrofac, the international oil & gas facilities service provider, said that its Resources division has agreed to acquire a 45% interest in the Chergui concession, Tunisia , for a cash consideration of approximately US$30 million. Petrofac will be operator of the concession.

:: RWE hires Fugro for Malta survey
Posted: 13 November 2006
Global Petroleum Limited advises that RWE, as operator of the Company's Malta project, has contracted Fugro to acquire 700km of 2D seismic over prospects in Blocks 4 and 5 of Area 3, offshore Malta . The seismic survey is scheduled to begin in November and is expected to last for two weeks. It will be undertaken using the seismic vessel "Geo Atlantic." Magnetic and gravimetric data will also be acquired during the survey.

:: Indago successfully tests West Bukha-2
Posted: 13 November 2006
Indago Petroleum, which operates in Oman and the UAE, reported that subsidiary Indago Oman Limited (IOL), as operator of Block 8, along with partners, Eagle Energy (Oman) Limited (10%) and LG International (50%), has commenced testing operations on the West Bukha-2A (WB2A) well.

:: GXT Completes Acquisition of IndiaSpan
Posted: 13 November 2006
GX Technology Corporation, a subsidiary of Input/Output, Inc. , announced the completion of its latest basin-scale seismic program, IndiaSpan. The program provides high-resolution images of all the major basins off the east and west coasts of India , many of which have produced giant gas discoveries over the last five years.

:: Melrose wins new concession in Egypt
Posted: 13 November 2006
Melrose Resources plc has learned that it is the successful bidder for a new exploration block in Egypt in the bidding round for new concessions organized by the Ganoub El Wadi Petroleum Holding Company ("GANOPE").

:: Tracerco awarded contract in Azerbaijan
Posted: 13 November 2006
Tracerco, part of Johnson Matthey Plc, has received an order for the BP operated Azeri-Chirag-Gunashli (ACG) and Shah Deniz Production Sharing Agreements (PSA) inAzerbaijan.