Exploration & Production

Gulf Intelligence: Oil to average in the US$50 per barrel in 2017

31366629004 16d835c0d8 oGulf Intelligence, a UAE-based strategic communications consultancy, surveyed 250 energy national and international industry professionals and report that half of those surveyed believe the average oil price in 2017 will be in the US$50s a barrel 

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DNO discovers oil in Kurdistan Region of Iraq field

oilpeshkabir rsvstks sxc.huNorwegian oil and gas operator DNO has announced that it has discovered oil in Peshkabir-2 well’s Cretaceous horizon in the Peshkabir field, currently being drilling in the Kurdistan Region of Iraq

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Iran names 29 firms as bidders for exploration projects under new IPC

oilwell iranIran has named 29 companies from more than a dozen countries as being allowed to bid for oil and gas projects using the new, less restrictive Iran Petroleum Contract (IPC) model, its Oil Ministry news website SHANA reported recently

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Libya’s oil production rises by 85,000 bpd on Day One of 2017

barrel2Libya produced 685,000 bpd on Sunday, up from around 600,000 bpd in December 2016, an official from the National Oil Corporation (NOC) has announced

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Egypt signs three offshore exploration deals worth US$220mn

offshore egypt QR9iudjz0 sxc optEgypt has signed three offshore oil and gas exploration and production deals worth a total of at least US$220mn with France’s Total, Britain’s BP, and Italian oil major ENI’s Egyptian subsidiary IEOC, according to the Oil Ministry

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