Abu Dhabi National Oil Company (Adnoc) has entered an agreement with Eni to divest 25% of its stake in the Ghasha ultra-sour gas offshore concession.
Eni will pay 25% of the development cost for the Ghasha ultra-sour concession, which includes the offshore ultra-sour gas fields, namely Hail; Ghasha; and Dalma, under the terms of the agreement.
The offshore gas fields are scheduled to produce 1.5 billion cubic feet of gas, along with more than 120,000 barrels of oil and condensate a day by 2025.
The gas produced from the projects will provide electricity for more than two million Abu Dhabi’ s households.
The deal will enable Adnoc to fast-track the development of the gas fields and achieve cost savings.
Adnoc is UAE’s state-owned oil and gas company, while Eni is an Italian oil and gas exploration company.
Eni has entered an agreement with Mubadala Petroleum to sell a 20% interest in the Nour Sinai offshore concession in the East Nile Delta Basin, Egypt.
The concession is being developed by Eni and Tharwa Petroleum Company, which respectively hold 85% and 15% interests.
Both companies are currently engaged in the exploration of the Nour North Sinai offshore concession, which is located in the eastern Mediterranean Sea at a water depth ranging from 50m to 400m.
The agreement will strengthen Mubadala’s position in the Egyptian oil and gas market.
Based in Italy, Eni is an oil and gas exploration company, while and Mubadala Petroleum is a subsidiary of UAE-based Mubadala Investment Company.
The Iraqi Government has entered an agreement with the Kurdistan Regional Government (KRG) to recommence oil exports from Kirkuk through the latter’s pipeline.
Located 283km north of Baghdad, Kirkuk will export oil via KRG’s pipeline, which is owned by the Russian oil and gas firm Rosneft and has a transportation capacity of one million barrels of oil.
An estimated 400,000 barrels of crude oil a day will be exported from the oil-rich region of Kirkuk, under the terms of the agreement.
The agreement was signed due to US sanctions on crude exports from Iran.
Rosenberg WorleyParsons has been awarded an engineering, procurement, constructionthe and installation (EPCI) contract by Lundin Norway for connecting the Luno II and Rolvsnes discoveries to the Edvard Grieg platform located in the North Sea.
Rosenberg WorleyParsons will provide the planning, engineering, prefabrication, offshore installation and commissioning activities for the platform under the contract, which is valid for 2.5 years.
Installation of steel structures and the pipeline is expected to commence in the first quarter of 2019.
Rosenberg WorleyParsons is a subsidiary of Australia-based engineering company WorleyParsons, while Lundin Norway is a division of Switzerland-based oil and gas exploration company, Lundin Petroleum.
Tower Resources Namibia and the Government of the Republic of Namibia have entered a petroleum agreement to gain a 80% interest in three offshore oil and gas blocks in Namibia.
Located over an area of 23,297km², the offshore blocks consist of 1910A, 1911 and 1912B in the Walvis Basin and Dolphin Graben.
Tower Resources will carry out exploration activities on the blocks for a period of four years by spending a total of $5m.
National Petroleum Corporation of Namibia (Namcor) and ZM Fourteen Investment each own a 10% share in the blocks.
Tower Resources Namibia is a subsidiary of UK-based oil and gas exploration company Tower Resources.