Exploration & Production

Lebanon begins offshore oil and gas exploration

Offshore Oil 2Lebanon on Tuesday approved an exploration plan submitted by a consortium of international energy companies, setting off the search for its first oil and gas reserves

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Apex International awards contracts to start oil and gas exploration in Egypt

ApexHouston-based Apex International Energy, North Africa-focused oil and gas exploration company, has awarded a contract to acquire 1,000 sq km of 3D seismic data in the Southeast Meleiha Concession to BGP International Egypt, LLC

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Mubadala Petroleum to take stake in unit of Russia's Gazprom

Gazprom HQMubadala Petroleum, a unit of UAE's sovereign wealth fund and Russian Direct Investment Fund (RDIF) signed they would create a joint venture with PJSC Gazprom Neft to explore oil fields in the Tomsk and Omsk regions of Russia

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Licensing round receives interest on "global scale": RAKPA

RAK Licensing roundRAK Petroleum Authority said that its licensing round for oil and gas concessions has received "positive interest on a global scale" and interest from international energy companies

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Oil price drop did not impact UAE growth: Moody's

Dubai genericCredit rating agency Moody's said in a report that the drop in oil prices after 2014 did not change the direction of its medium-term real growth as the economy is supported by large surpluses

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