1. Uganda and Tanzania sign oil pipeline project agreement
Uganda and Tanzania signed an agreement on the East African crude oil pipeline project (eacop) on Sunday, paving the way for the construction of a 1440 kilometer electric heating crude oil pipeline from Aberdeen, Uganda, to the Tanzanian port of Tanga, which is said to be the longest in the world.
2. Iraqi drilling company to sign new contract
Iraqi drilling company (IDC) announced recently that it intends to sign contracts with Chinese and American companies operating in Iraq to exploit and repair dozens of oil wells in Iraq.
After the relative mitigation of the impact of covid-19, Iraqi drilling companies resumed negotiations with international companies developing oil fields in the country and their counterparts under the provincial oil ministries to prepare for the signing of delayed contracts, with the aim of strengthening Iraq’s energy capacity.
3. Total plans to invest $5 billion in Uganda’s oil project
Total Se is ready to continue a $5.1 billion plan to extract more than 1 billion barrels of Ugandan crude oil and pipeline it across East Africa. At a time when most big companies are cutting back, the project is a rare frontier oil development project. It will also consolidate total’s leading position in Africa’s major international oil and gas companies, although the company says it is making a transition to clean energy.
4. Maersk drilling won a $370 million contract in West Africa
Recently, Maersk drilling company said Tullow Ghana Ltd. has awarded it a four-year, US $370 million contract for ultra deep water drilling and additional services. The contract, which came into effect this month, covers development drilling activities in the ten and Jubilee fields off the coast of Ghana.
5. Saudi Aramco signs $12.4 billion pipeline agreement with eig led Consortium
Aramco, the Saudi oil giant, reached a $12.4 billion deal on April 9 with an investor consortium led by eig global energy partners, which will give the investor group a 49% stake in Aramco’s pipeline assets. This is Saudi Aramco’s first major deal since its listing in late 2019.
6. Argentina considers supporting VacA Muerta shale exploration by controlling oil price
Argentina’s production minister Matias kulfas said last week that the idea of setting a cap and a floor for its domestic crude oil price is being written into the draft legislation to promote long-term oil price control to stimulate oil and gas investment.
There are a large number of undeveloped shale deposits in southern Argentina, and drilling companies produce 137500 barrels of crude oil per day. The Permian Basin in the United States, which is also rich in shale gas reserves, is expected to produce 4.6 million barrels of crude oil per day in May.
7. Beckhughes: the number of active oil and gas drilling rigs has increased to the highest level since April 2020
Baker Hughes, a US oil services company, said in a highly watched report Friday that by the week of April 9, the number of active US oil and gas rigs, the leading indicator of future production, increased by 2 to 432, the highest level since april2020.
This means that the number of active drilling rigs in the United States has increased 77 percent from the record low of 244 in August last year.
Post time: Apr-12-2021