Kuwait plans to invest KD34.5 billion ($115 billion) on oil projects over the next five years, Arab News quoted a senior executive as saying.
“We have earmarked 34.5 billion dinars for spending on oil projects over
Oman’s CC Energy Development (CCED), an oil and gas major, plans to invest around $340 million in augmenting exploration and production facilities in its Block 3 and 4 acreage in the Sultanate, a report said.
Iran is planning several projects to expand its oil production and export capabilities, reports said, highlighting a new oil terminal to export one million barrels per day (bpd), and a $1.7 billion development of South Pars Gas Field.
Kuwait plans to start an offshore oil exploration programme within two years as part of its plans to boost oil output capacity, said state news agency Kuna citing a Kuwait Oil Company (KOC) executive.
In comments suggesting Kuwait
State-owned energy investment firm Oman Oil Co (OOC) will announce a new structure later this year, chief executive Issam al-Zadjali told reporters on Sunday.
"With the new structure, the company will be focusing more on Duqm
Egypt hopes to halt liquefied natural gas imports in 2020, Oil Minister Sherif Ismail said on Monday, as projects to develop its own gas fields are completed.
The Arab world's most populous nation is struggling to cope with en
Egypt has entered into two agreements worth $44 million with US-based Apache aimed at exploring oil in Western Sahara, a report said.
The contract also included $25 million in state grants, with 11 oil wells expected with be drill
Rosneft and BP have signed an agreement to jointly explore for hard-to-recover oil in Russia, the first major deal for the state-run oil company since the West imposed sanctions on Moscow.
Rosneft chief executive Igor Sechin, a cl
Bahrain is open to new joint ventures, especially in the fields of oil and gas exploration and downstream facilities, said a senior government official.
Finance Minister and Minister in charge of Oil and Gas Affairs Shaikh Ahmed bin Moh
Oil company BP has announced a major oil discovery at its Gila prospect in the deepwater US Gulf of Mexico on Wednesday along with a $1.08 billion writedown on a failed exploration well offshore Brazil.
"The Gila discovery is