(Oil Price) – OQ Exploration and Production Company (OQEP), Oman’s wholly-state-owned upstream oil and gas operator, has raised $2.03 billion from its IPO which was the largest ever for the Gulf oil nation and the biggest in the region so far this year. OQEP, which is a wholly owned subsidiary of OQ, the Sultanate of Oman’s energy company, sold 2 billion
Oil Price The world’s energy needs will only grow, and it would be “foolish” to think that rising demand can be met with renewables alone, Oman’s Energy Minister Salim Al-Aufi told CNBC on Tuesday. Energy needs to be affordable and this is the first pillar of energy supply when the energy transition is concerned, the minister said. Oman’s official also defended, again,
World Oil BP and the Ministry of Energy and Minerals in Oman signed a Strategic Framework Agreement and a Renewables Data Collection Agreement which will support the potential development of a multiple gigawatt, world-class renewable energy and green hydrogen development in Oman, by 2030. As part of the agreement, BP will capture and evaluate solar and wind data from 8,000km2
World Oil PARIS – TotalEnergies has signed with the Ministry of Energy and Minerals of the Sultanate of Oman a series of agreements for the sustainable development of the country’s natural gas resources. These agreements include: The establishment of Marsa LNG, an integrated company between TotalEnergies (80%) and Oman National Oil Company, OQ (20%). Marsa LNG will produce natural gas
Reuters LONDON – BP BP.L has started production at Oman’s giant Ghazeer natural gas field, which is set to underpin the company’s oil and gas output for years as it shifts to renewables. The London-based firm said Ghazeer, the second phase of the development of Block 61, started four months ahead of schedule. BP is in the midst of the largest
Tight gas production techniques perfected in the U.S. expected to deliver 1 Bcf/day to Sultanate of Oman; two-phase project targets 10.5 Tcf of natural gas — BP holds 60% interest, Oman 40% BP has started producing natural gas from what it said is its largest project start-up in 2017. The Khazzan gas field, which is operated by BP in partnership
Sanctions lifted on Iran Iran has officially carried out all measures required to start the Joint Comprehensive Plan of Action (JCPOA) and begin the implementation of sanctions relief, according to a statement from the International Atomic Energy Agency (IAEA). Saturday, called Implementation Day under the JCPOA, marked the beginning of the end of sanctions against Iran regarding its nuclear program.
Non-OPEC producer says it’s ready to cut production, but “everyone has to do the same” Oman became the first non-OPEC oil producer to say that it will cut its production if done in coordination with other producers. Oman’s oil minister, Mohammad bin Hamad al-Rumhy, said the Persian Gulf nation would be willing to cut 5%-10% at an energy event in
Harvest Natural Resources (ticker: HNR) reported it had commenced drilling the Mafraq South-A (MFS-A) exploration well onshore Oman, the first of a two-well exploratory program. HNR also announced that the mean prospective resources for the targeted south segment total 1.25 Tcf of gas with 46 million barrels of condensate. The MFS-A well will test the Mafraq South structure, which is
On July 21, 2011 Harvest Natural Resources (ticker: HNR) provided an update on the progress of its exploration program offshore Gabon. With efforts to test deeper zones at its Ruche discovery announced in June 2011 offshore Gabon, Harvest announced that the Dussafu Ruche Marin-1 (DRM-1) well, deepened to 11,355 feet, was successful in logging 35 feet of oil pay within
On March 2, 2011, Harvest Natural Resources (ticker: HNR) announced an increase in reserves for both its U.S. and Venezuela operations and provided an operations update. HNR’s total proved reserves for 2010 increased 17% to 54.6 million barrels of oil equivalent (MMBOE), and its 2P reserves increased 42% to 118.9 MMBOE. Uintah Basin, Utah Reserves Highlights (Reserves numbers below are
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