Space Travel News  
OIL AND GAS
Qatar buys stake from Eni to share in Mexico's Campeche field
by Renzo Pipoli
Washington (UPI) Dec 17, 2018

Qatar Petroleum bought from Italy's Eni a 35 percent interest in three offshore fields in Mexico's Campeche bay area 1, estimated to yield over 100,000 barrels of oil by 2021.

"This is the second presence for Qatar Petroleum in Mexico. At the end of January 2018, Qatar Petroleum won exploration rights in five offshore blocks in the Perdido and Campeche basins as part of a consortium comprising Shell and Eni respectively," said Qatar Energy minister Saad Sherida Al-Kaabi.

"Qatar Petroleum's international upstream footprint has been recently expanding in Brazil, Mexico, Argentina, Cyprus, Congo, South Africa, Mozambique and Oman," the company said. This is part of a plan to increase "in coming years" daily output to 6.5 million barrels of oil equivalent, from the current 4.8 million barrels.

Italy's Eni confirmed the accord, adding that it won 100 percent rights to Campeche area 1 in 2015, and that it will continue to be the operator of this area -- estimated to hold 2.1 billion barrels of oil equivalent, 90 percent of it oil. Development will begin next year but production levels of over 100,000 barrels per day will only be reached in 2021.

"Eni is already a partner with Qatar Petroleum in Block 24 in Mexico, located in the deep waters of Cuenca Salina Basin, where Eni is the joint venture Operator with a 65 percent participating interest share," it added.

In addition to Area 1, Eni currently holds rights in five exploration and production blocks in the Sureste Basin, all as the operator, the company said. That includes area 7, with 45 percent; area 10, with 100 percent; area 14, with 60 percent; area 24, with 65 percent; and area 28, with 75 percent.

The stakes will change, however, as a result of accords signed on October 2018. Eni will give Lukoil a 20 percent stake in both the production sharing contracts for blocks 10 and 14, and at the same time acquire a 40 percent stake in Lukoil's block 12.

Eni separately said on Monday it received approval from Indonesia authorities for its investment plan to develop the offshore natural gas Merakes project, which will supply the existing Bontang LNG plant.

Eni has been operating in Indonesia since 2001. Production areas include the Kutei Basin, East Kalimantan and Muara Bakau for combined output of 650 million standard cubic feet per day.

Qatar announced earlier this month it was pulling out of OPEC, as it wanted to shift its focus to natural gas.


Related Links
All About Oil and Gas News at OilGasDaily.com


Thanks for being here;
We need your help. The SpaceDaily news network continues to grow but revenues have never been harder to maintain.

With the rise of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don't have a paywall - with those annoying usernames and passwords.

Our news coverage takes time and effort to publish 365 days a year.

If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution.
SpaceDaily Contributor
$5 Billed Once


credit card or paypal
SpaceDaily Monthly Supporter
$5 Billed Monthly


paypal only


OIL AND GAS
Russian planes go home after controversial Venezuela wargames
Caracas (AFP) Dec 14, 2018
Two Russian bombers flew back to Moscow from Caracas early Friday after taking part in joint military exercises with Venezuela that sparked a row with Washington and regional neighbors. "With the takeoff of the Tu160 'White Swans' we say goodbye to our Russian Federation friends," Venezuela's air force said on Twitter. It said the exercises provide "a guarantee of peace." Russia last Monday sent the two Tupolev-160 long-range bombers and about 100 air force personnel to Caracas - generating ... read more

Comment using your Disqus, Facebook, Google or Twitter login.



Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle

OIL AND GAS
OIL AND GAS
InSight's robotic arm ready for some lifting on Mars

NASA's InSight lander 'hears' wind on Mars

NASA's Mars InSight Flexes Its Arm

Mars 2020 rover mission camera system 'Mastcam-Z' testing begins at ASU

OIL AND GAS
Learning from lunar lights

China launches rover for first far side of the moon landing

China Will Launch First Probe to Moon's Far Side Later This Week

NASA Announces New Partnerships for Commercial Lunar Payload Delivery Services

OIL AND GAS
Record Setting Course-Correction Puts New Horizons on Track to Kuiper Belt Flyby

Radio JOVE From NASA: Tuning In to Your Local Celestial Radio Show

The PI's Perspective: Share the News - The Farthest Exploration of Worlds in History is Beginning

Encouraging prospects for moon hunters

OIL AND GAS
The epoch of planet formation, times twenty

Helium exoplanet inflated like a balloon, research shows

Life in Deep Earth totals 15 to 23 billion tons of carbon

An exoplanet loses its atmosphere in the form of a tail

OIL AND GAS
NASA Sounding Rockets Carry TRICE-2 over Norwegian Sea

Tesla CEO Elon Musk taunts US financial regulatory agency

China puts 2 Saudi satellites into orbit

Rocket Lab prepares to launch historic CubeSat mission for NASA

OIL AND GAS
China launches rover for first far side of the moon landing

Evolving Chinese Space Ecosystem To Foster Innovative Environment

China sends 5 satellites into orbit via single rocket

China releases smart solution for verifying reliability of space equipment components

OIL AND GAS
OSIRIS-REx already finds water on Asteroid Bennu

Evidence for carbon-rich surface on Ceres

First Images from OSIRIS-REx Have Scientists Buzzing with Excitement

Get ready to greet the Geminid Meteors









The content herein, unless otherwise known to be public domain, are Copyright 1995-2024 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. General Data Protection Regulation (GDPR) Statement Our advertisers use various cookies and the like to deliver the best ad banner available at one time. All network advertising suppliers have GDPR policies (Legitimate Interest) that conform with EU regulations for data collection. By using our websites you consent to cookie based advertising. If you do not agree with this then you must stop using the websites from May 25, 2018. Privacy Statement. Additional information can be found here at About Us.