Valeura Energy Inc has completed a 10-well infill drilling campaign at the Nong Yao oilfield in the Gulf of Thailand, increasing the company’s net production before royalties to 24,800 barrels per day (bpd) in the last seven days of the third quarter.
The Saudi company, through its Netherlands-based subsidiary Midad Energy North Africa BV, agreed to shoulder the full exploration and development cost. That is expected to be $5.4 billion, including $288 million for exploration, Sonatrach said in a statement on its website.
The contract is expected to begin in the second quarter of 2026 and run for about 350 days, with a total estimated value of $140 million, including a mobilization fee. The agreement also provides options for three additional wells.
Carnelian Energy Capital Management, L.P. has closed its Canada-focused Carnelian Acquisition and Development fund (CAD) at the hard cap of $600 million in limited partner commitments. The single-closing fund was oversubscribed, reflecting continued investor interest in upstream opportunities north of the border.
Murtaza Jariwala, CEO and managing director of Vanguard Engineering & Oilfield Services, talks to The Energy Year about the new opportunities that tariff changes have created for the company and local manufacturing in Oman. Vanguard is an Omani provider of engineering and oilfield services to the oil and gas, petrochemical and industrial sectors.
H.E. Jamal Essa Al Loughani, Secretary-General of the Organization of Arab Petroleum Exporting Countries (OAPEC), talks to The Energy Year about energy security, diversification of petrochemicals output and trade flows and the organisation’s growing emphasis on sustainable technologies. OAPEC is the Kuwait-based intergovernmental organisation that co-ordinates energy policy among Arab oil-producing countries.
The shift concerns, first, the fact that alternative energy sources have added to rather than replaced oil and gas, and second, that “every major forecaster is revising scenarios, with oil and gas locked in for decades”, Nasser said, saying he hoped the outlook for long-term oil and gas investment had changed for the better.
Denny Matulessya, managing director, Odengene Air Shuttle Services (OAS Helicopters) has reiterated the firm’s commitment to deepen its aviation support for efficient offshore operations in the oil and gas sector. ‘‘This commitment marks another milestone in our mission to provide world-class aviation support for Nigeria and the West African energy sector,” Denny Matulessya, managing director, […]
Eni SpA said Thursday it had launched the authorization process for an Environmental Impact Assessment to build a biorefinery and a chemical recycling plant in Sicily, after receiving approval from Italy’s Environment and Energy Security Ministry.
Vucic had been seeking a three-year contract with Gazprom, following two meetings this year with Russian President Vladimir Putin. Speaking to the tabloid Informer, he suggested the delay was linked to US sanctions on oil refiner Naftna Industrija Srbije that came into full effect earlier this month after several temporary waivers expired.