Oil & Gas Middle East – November 2018

(Jacob Rumans) #1
13

NEWS

oilandgasmiddleeast.com NOVEMBER 2018


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  1. BAHRAIN 2.KSA 3. UAE 4. KUWAIT 5. OMAN 6. IRAQ


Crown Prince Mohammed bin
Salman told Bloomberg News
reporters that he is getting
close to restarting production
in the Khafji and Wafra fields
in the Neutral Zone with Ku-
wait, which have a combined
oil production capacity of
500,000 bpd. “We believe we
can have something soon,” he
said. He visited Kuwait’s Emir
during the month and report-
edly spoke about restarting
production.

Rex International, which pre-
viously stated it was looking
to farm out its equity interest
in Block 50 Oman (in which
it holds a 92.65% indirect
stake through Masirah Oil), is
considering maintaining its
high equity stake in the block
following positive results
from feasibility and concept
studies on its discovery well,
GA South#1. Production
is expected to start by the
second half of 2019.

Petrofac’s Engineering & Pro-
duction Services business got
a four-year contract renewal
for maintenance management
services for an unnamed
international oil company in
Iraq. The agreement is worth
$50mn, and means that
Petrofac will continue to
provide specialist personnel
to support maintenance
for mature assets and new
production enhancement
facilities.

Saudi Aramco and Bahrain
Petroleum Company (BAPCO)
commissioned AB-4, a 112km
pipeline which is capable
of transporting up to 350
thousand barrels per day of
crude oil. It starts at Saudi
Aramco’s Abqaiq Plants and
terminates at the BAPCO
Refinery in Bahrain. It has an
onshore Saudi segment, on-
shore Bahrain segment and an
offshore segment. It replaces a
73-year-old pipeline system.


Saudi Aramco signed a
$700,000 contract with
Pragma Well Technol-
ogy, giving it three years
of sponsorship from the
Saudi Aramco Exploration and
Petroleum Engineering Centre


  • Advanced Research Centre
    to develop a Thru-tubing Ex-
    pandable Patch, which will be
    deployed via traditional well
    intervention to further extend
    well life before recompletion
    on side-tracking.


Dubai’s Dragon Oil, the
upstream investment arm
of ENOC, announced plans
to invest around $500mn in
oil and gas assets in 2019. It
reportedly aims to increase
production to 300,
barrels of oil equivalent per
day by 2025, and is looking to
expand in North Africa, Iraq
and Turkmenistan, where
it already produces around
90,000 barrels per day
through Cheleken field.

AROUND THE GCC
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