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KOC discovers giant oil reserves in Al-Nokhatha offshore field Kuwait Oil Company (KOC) announced on Sunday the discovery of huge commercial quantities of light oil and associated gas in the offshore Al-Nokhatha field, located east of Kuwait’s Failaka Island. The initial estimated area of the field is approximately 96 square kilometers, marking a key breakthrough in Kuwait’s exploration of hydrocarbon resources in its marine area, according to KOC’s statement to KUNA. Preliminary estimates suggest the hydrocarbon volume at this field to be about 2.1 billion barrels of light oil and 5.1 trillion standard cubic feet of gas, equal to approximately 3.2 billion barrels of oil equivalent, it said. These initial findings indicate huge potential to further enhance and increase hydrocarbon resource quantities in various layers and reservoirs within the discovered field, KOC added. More info @ https://lnkd.in/dGM6Ygs4 #oilandgasindustry #exploration #energy #offshore

KazMunayGas Chairman Magzum Mirzagaliev and Shell's Executive Vice President of Oil and Gas Exploration and Production, Peter Costello, convened to assess their burgeoning partnership. Notably, Kashagan field's oil production surged by 48% in 2023, reaching a record 18.8 million tonnes. Recognizing the imperative of meeting domestic gas demands, plans include constructing a 2.5 billion cubic meter/year gas processing plant. Discussions also revolved around joint geological exploration and facilitating oil exports via the Trans-Caspian route. Both executives reiterated their commitment to expanding collaboration, particularly in the realms of petrochemicals and sustainable development. The meeting signals a continued alignment between KazMunayGas and Shell in advancing Kazakhstan's energy sector and fostering mutually beneficial growth opportunities. Read more: https://lnkd.in/e_4A3Kud and https://lnkd.in/ec8tb9iM #KazMunayGas #Shell #Kashagan #OilProduction #GasProcessing #GeologicalExploration #EnergyPartnership #SustainableDevelopment #Petrochemicals #KazakhstanEnergy #KIOGE #KIOGE24

QatarEnergy has announced signing a farm-in agreement with ExxonMobil to acquire 40% participating interest in two exploration blocks offshore Egypt. According to the agreement, QatarEnergy is set to acquire a 40% stake in both the Cairo and Masry Offshore Concession Agreements, pending approval from the Egyptian government. ExxonMobil will remain the operator with a 60% stake. “I am pleased with our entry into the Cairo and Masry offshore exploration blocks as they expand QatarEnergy’s presence in the Arab Republic of Egypt and extend our ambitious exploration program in-country,” Saad sherida Al-kaabi, the Minister of State for Energy Affairs, the President and CEO of QatarEnergy, commented on the signing. “We look forward to working with our valued long-term strategic partner ExxonMobil, as well as with the Egyptian Natural Gas Holding Company (EGAS) and the Egyptian Ministry of Petroleum and Mineral Resources, in this promising and prospective region. I would like to take this opportunity to thank the Egyptian authorities and our partners for their valuable support and cooperation,” Al-Kaabi said. The Masry and Cairo blocks were awarded to ExxonMobil in January 2023. The two exploration blocks cover an area of around 11,400 square kilometers in water depths of 2,000 to 3,000 meters. - Check out the full news through: https://lnkd.in/dr_sS3jA #breakingnews #energy #qatarenergy #yourenergytransitionpartner #qayar #egypt #offshoreexploration #concession #agreements #naturalgas

In a significant development, Pakistan's state-owned exploration and production company, Oil & Gas Development Company Limited (OGDCL), has reported a notable discovery of gas and condensate at Dars West Well 02 in the Tando Allahyar District, Sindh. The company shared this milestone in a filing to the Pakistan Stock Exchange on Friday. Operated by OGDCL with a 77.5% stake, in collaboration with GHPL holding 22.5% (carried interest), the Joint Venture of Dars West Development and Production Lease (D&PL) successfully explored "C" Sands of Lower Goru Formation, revealing gas and condensate reserves. Drilled and tested using OGDCL's in-house expertise, the Dars West Well 02 reached a depth of 2081 meters and demonstrated significant output, testing at 8.51 million standard cubic feet per day (MMSCFD) of gas and 360 barrels per day (BPD) of condensate. The discovery, a result of OGDCL's proactive exploration strategy, is anticipated to contribute substantially to the hydrocarbon reserves of OGDCL, its joint venture partners, and the overall energy resources of the country. #Info #InfoPakistan #Gas #Oil #Reserves #Sindh

【Kuwait Makes ‘Huge' Discovery in Offshore Al-Nukhida Field】 Kuwait Oil Co. said it’s discovered “huge commercial amounts” of light oil and associated gas in an offshore field, marking a “turning point” in its efforts to explore offshore hydrocarbons. The Al-Nukhida field, east of the Gulf state’s Failaka Island, has initial estimated reserves of about 2.1 billion barrels of light oil and 5.1 trillion standard cubic feet of gas, or 3.2 billion barrels of oil equivalent, in the Manageesh strata, state-owned KOC said on Sunday. A plan will be developed to start actual production from the field as soon as possible, said the company, which is responsible for Kuwait’s energy exploration and production. Kuwait is OPEC’s fifth-biggest producer, with a current output of about 2.48 million barrels a day. It aims to boost capacity to 4 million bpd by 2035. #Kuwait #Offshore #OPEC #hydrocarbons

Karim Badawi, Egypt's Minister of Petroleum and Mineral Resources, has signed two major agreements worth $342 million with international companies to enhance oil and gas production. The first agreement, with EGPC, Shell Egypt, and Petronas, will see $222 million invested in the West Delta area to drill three new natural gas wells, increasing production to 200 million cubic feet by the end of 2024. The second agreement, involving EGPC, Chevron Energy, and KUFPEC, allocates $120 million to drill nine wells in the Gulf of Suez. This is expected to boost oil production from 21,000 to 26,000 barrels per day.   Mohamed Fouad Ayman Rady Vincenzo Terenzio Mohamed Atia Merna Nada Petlong Dakhling Dakim Dung Ikechukwu Promise Obialor Follow The African Energy Council for more energy news #EnergySector #aecouncil #OilProduction #EgyptEnergy #Sustainability #Petroleum #RenewableEnergy #GreenEnergy #Innovation #CleanEnergy #OilAndGas #FutureEnergy

Libya Energy News Update: In a significant development, Libya's National Oil Corporation (NOC) has revealed that its subsidiary, Sirte Oil, has unearthed a promising well poised to yield 16.8 million cubic feet of gas daily. The breakthrough stems from successful drilling activities at exploratory well W, W, 1-6, positioned southeast of the Al-Lahib Field. With drilling operations reaching a depth of 8,666 feet and displaying a choke size of 48/64 inches, the find also indicates the potential for the well to produce 646 barrels of oil per day, boasting a specific density of 49 API. This discovery aligns seamlessly with Libya's endeavors to augment its oil and gas production rates, aiming for two million barrels of oil per day (bpd) by 2030, with a target of 2.3 million bpd by year-end. Stay updated with BSO for more developments. For more information, visit: https://lnkd.in/daenmnYg #OilfieldSupply #OilfieldServices #SmartSupplies #InnovationInOil #ElevateYourBusiness #OilandGas #EnergyIndustry #OilfieldSolutions #SmartTechnology #DigitalTransformation #SupplyChain #OilfieldInnovations #EfficiencySolutions

In the first half of 2023, Sonatrach, Algeria's government-owned oil company (NOC), unveiled ten promising oil and natural gas discoveries. These findings represent a significant milestone in their ongoing exploration efforts. These discoveries, made during extensive drilling operations early this year, are strategically located in proximity to existing infrastructure and operational zones, enhancing their potential economic impact. Sonatrach's CEO, Rabi Baji, emphasised the importance of these findings in a recent interview, noting that their proximity to existing facilities allows for swift integration into production processes. This remarkable achievement aligns with a multi-year exploration initiative and complements a substantial $40 billion investment plan for 2023–2027, poised to shape the future of Algeria's energy sector and drive regional economic growth.   Abdelghafour BOUGUERRA Madjid Amani Linda Kalladjou Hichem HOUHA Ikechukwu Promise Obialor Dakim Dung Follow The African Energy Council for more energy news #energyinnovation #sonatrach #aecouncil #energyefficiency #algeria #oilandgas #oildrilling  

Mari Petroleum Company Limited has made a significant discovery of oil and gas reserves in Sindh, Pakistan. The company announced that it has struck a huge reserve of hydrocarbons in the Mari Dakhni Block, which is located in the province of Sindh. According to the company's statement, the discovery was made in the Mari Dakhni Block, which is spread over an area of 2,826 square kilometers. The block is located in the southern part of Sindh, and the discovery is expected to play a crucial role in meeting the country's energy needs. The company has stated that the reserve contains a significant amount of oil and gas, with an estimated 14 million barrels of oil and 100 billion cubic feet of gas. This discovery is expected to contribute significantly to the country's energy sector and help reduce the energy deficit. The discovery is a result of the company's extensive exploration efforts, and it is expected to pave the way for further exploration and production activities in the region. The company has expressed its commitment to working with the government and other stakeholders to develop the reserve and ensure that it contributes to the country's economic growth. . . . #PakistanEnergySector #EnergySelfSufficiency #MariPetroleum #PakistanOilAndGas #SindhOilDiscovery #EnergyBreakthrough #PakistanEnergyNews #OilAndGasReserves #PakistanEnergyIndependence #SindhEnergySector #EnergyExploration #PakistanOilDiscovery #GasReserves #EnergyProduction #PakistanEnergySecurity #EnergySecurity #OilDiscovery #GasDiscovery #EnergyNews #tribunetrends

Libya exploration update! Libya’s National Oil Corporation has announced the signing of a memorandum of understanding with Equinor to evaluate the oil and gas potential offshore Libya. Libya's offshore is considered to have significant potential, however, it remains underexplored and underdeveloped. Equinor already has interests in two existing onshore assets in Libya (NC 186 and NC 017). Exploration and development activity in Libya is picking up. In January 2023, Eni moved ahead with the 6 Tcf, US$8bn offshore ‘A&E’ gas project, with production expected to start in 2026 and reach a plateau of 750 MMcf/d. In August 2023 #upstream #downstream #petroleum #oilandgasindustry #offshore #offshoredrilling #drilling #internationalbusiness #eni #noc #equinor #libya #worldwidebusiness #internationalConsulting#consultancy#Contractors #epc#oilfieldservices