:: Turbulent waters ahead
Posted: 25 December 2006
There is enough capacity to satisfy global petrochemical demand beyond 2010. But as Middle East and Asian ethylene capacity comes on stream from 2009, the effect could be a recession.

:: Global to develop Umm Al Qaiwain
Posted: 25 December 2006
Global Industries’ subsidiary Global Offshore International was awarded an approximately $31 million contract from Atlantis UAQ Limited, a wholly owned subsidiary of Sinochem Corporation, and the Ras Al Khaimah Gas Commission for installation works associated with the development of the Umm Al Qaiwain (UAQ) gas condensate field in the United Arab Emirates.

:: Mideast to become world’s leading LNG supplier
Posted: 25 December 2006
The Middle East is set to become the world’s leading supplier of liquefied natural gas (LNG) given its massive gas resources and the depletion of gas fields in key consumer region s, according to the President of Total Gas and Power.

:: TransGlobe abandons Al Qurain well
Posted: 25 December 2006
TransGlobe Energy Corp. said that its Al Qurain #1 exploration well, located in Block S-1 in Yemen (25% working interest), was drilled to a total measured depth of 1,960 meters. The well, which was targeting the Alif and Lam prospects, was subsequently plugged and abandoned.

:: PT Medco Energi Internasional wins two blocks in Yemen
Posted: 25 December 2006
PT Medco Energi Internatsional Tbk has been awarded Blocks 82 and 83 in Yemen 's Third International Bid Round conducted by the Ministry of Oil & Minerals in the Republic of Yemen.

:: Enventure opens Eastern Hemisphere HQ in Dubai
Posted: 25 December 2006
Enventure Global Technology, producer of Solid Expandable Tubular (SET ) technology, recently announced the opening of its new Eastern Hemisphere headquarters in the Dubai International Financial Centre. The move and expansion underscores the legacy established with more than 130 SET installations in the Eastern Hemisphere .

:: Honeywell wins project for National Grid Grain LNG
Posted: 25 December 2006
Honeywell said it will provide National Grid Grain LNG Ltd with automation solutions for increasing efficiency and production outputs as well as enhancing performance. The two projects are valued at a collective $2.8 million with Grain LNG, a subsidiary of National Grid plc.

:: Sonatrach gives First Calgary more time
Posted: 25 December 2006
First Calgary Petroleums Ltd. (FCP) said that Sonatrach, Algeria's national oil company, has agreed to extend the Block 405b Exploration Period for 24 months commencing December 30, 2006, as provided for in the Production Sharing Contract, in order to complete the appraisal of the LES, MZLN, MZLS, LEC, LEW and GSM discoveries in the central area of the Block and to submit commerciality reports thereon.

:: Libya holds third bidding round
Posted: 25 December 2006
Libya 's National Oil Company says that the Third Bidding Round by Public Announcement was on December 20 at the Al-Mahari Hotel, Tripoli . The related NOC Organizing & Supervising Committee received offers for investment in 10 areas, from 23 participating companies of 15 nations.

:: Petroceltic declares discovery in Isarene PSC
Posted: 25 December 2006
Petroceltic International plc, the Irish based international oil and gas exploration and production company with a portfolio of assets in Algeria , Ireland , Italy and Tunisia announced the following results of flow testing from the recently completed Hassi Tab Tab 2 (HTT 2) well and the earlier ISAS 1 well. Details of the test results are outlined below: