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Six global firms strike $20 billion agreement with ADNOC
June 23, 2020
Source: Reuters

Six global firms strike $20 billion agreement with ADNOC

The deal is the single-largest energy infrastructure investment in the region, and the biggest in the world in 2020. It brings $10.1 billion in foreign direct investment to the UAE. According to the agreement, the consortium will acquire a 49% stake in a newly-formed subsidiary, ADNOC Gas Pipeline Assets, with lease rights to 38 pipelines. ADNOC will hold the majority stake of 51% and will retain ownership of the pipelines.

Shell and CNOOC in pact to supply carbon-neutral LNG cargoes
June 22, 2020

Shell and CNOOC in pact to supply carbon-neutral LNG cargoes

China National Offshore Oil Corp, or CNOOC, will buy two cargoes of LNG with offset carbon emissions from Royal Dutch Shell, thus marking China's first gas imports of this kind. The companies will use carbon credits won in projects in China's northwest Xinjiang and Qinghai region to offset the carbon emissions involved in producing and consuming the two gas cargoes. The two cargoes will be auctioned at the Shanghai exchange.

WFS Technologies and Subsea Energy Solutions team up on offshore monitoring systems
June 4, 2020

WFS Technologies and Subsea Energy Solutions team up on offshore monitoring systems

WFS Technologies has joined forces with Subsea Energy Solutions to harness their combined global expertise and market-leading range of live condition monitored cable protection systems for the offshore energy industry. The collaboration will see WFS utilize its smart wireless Seatooth technologies, which provide real-time insight in extreme environments, with SES’s offshore cable and subsea umbilical, riser and flowline protection systems.

CNOOC, Shell to invest 5.6 billion U.S. dollars in new ethylene project
May 18, 2020
Source: Reuters

CNOOC, Shell to invest 5.6 billion U.S. dollars in new ethylene project

China National Offshore Oil Corporation (CNOOC), the largest offshore oil and gas producer in China, and Royal Dutch Shell, the world's leading energy and petrochemical conglomerate, signed a strategic cooperation framework agreement worth 5.6 billion U.S. dollars on Sunday. The new cooperation, based on the CNOOC and Shell Petrochemical Company Limited, is the CNOOC and Shell Huizhou phase III ethylene project.

BP extends digital collaboration with Petrofac
May 14, 2020

BP extends digital collaboration with Petrofac

BP has extended Petrofac’s inspection and maintenance contract for its North Sea facilities for a further three years. The award is in addition to a new four-year metering contract that covers offshore and onshore consulting and support. Last year the two parties collaborated to demonstrate new execution techniques. Petrofac combined the use of Digital Twin technology, Connected Worker and its proprietary software BuildME to digitalize all campaign maintenance and inspection.

Nissan Chemical nanoparticle treatment provides EOR results
Jan. 8, 2020
Source: World Oil

Nissan Chemical nanoparticle treatment provides EOR results

Houston-based Chemicals manufacturer, Nissan Chemical America Corporation (NCA) has joined hands with industrial gas suppliers, Messer Americas, to enhance oil and gas production. The two firms have collaboratively developed a treatment, nanoActiv HnP—an energized, fast turnaround style “Huff ‘n Puff”— which incorporates nanoActiv with a CO₂ or N₂ gas application method to enhance oil and gas recovery.

Digital collaboration underway as Baker Hughes, C3.ai and Microsoft join hands
Nov. 20, 2019

Digital collaboration underway as Baker Hughes, C3.ai and Microsoft join hands

In a major step towards the deployment of Artificial Intelligence in the energy industry, Baker Hughes, C3.ai and Microsoft have come together to deliver enterprise AI solutions to the energy industry. The alliance will allow clients to leverage the energy technology expertise of Baker Hughes, C3.ai’s proven AI platform and applications, and the Microsoft Azure cloud computing platform. The solutions are custom-designed to tackle challenges across the entire value chain.

ADNOC inks collaborative agreement with CNOOC
July 24, 2019

ADNOC inks collaborative agreement with CNOOC

State-run Abu Dhabi National Oil Corporation (ADNOC) has entered into an agreement with Chinese oil major, CNOOC to collaborate in the upstream and downstream sectors and LNG. The agreement requires the firms to share knowledge, best strategies and technologies in ultra-sour gas development. ADNOC and CNOOC will also consider business opportunities in the downstream sector. Adnoc Group CEO and CNOOC chairman exchanged the Strategic Framework Agreement.

Schlumberger and Gazprom sign agreement for technological cooperation
March 26, 2019
Source: World Oil

Schlumberger and Gazprom sign agreement for technological cooperation

World’s largest oilfield services company, Schlumberger has inked an agreement with Russian state-run Gazprom Neft for technological cooperation in well logging. The two sides will join forces to integrate the latest logging technologies into the expert geophysics company. The oilfield services giant will offer engineering support to its partners and train staff of the operating units of the company.

Gazprom signs MoU with Itochu
Dec. 15, 2018
Source: World Oil

Gazprom signs MoU with Itochu

Russian gas giant, Gazprom has signed a Memorandum of Understanding (MoU) with Japan’s Itochu Corporation on the Baltic LNG project. Chairman of the Gazprom Management Committee and CEO, Itochu Corporation held a working meeting in St. Petersburg. With this agreement, Gazprom and Itochu have confirmed their interest in potential collaboration in the framework of the project.

BHGE and AFRC join hands
Oct. 11, 2018
Source: World Oil

BHGE and AFRC join hands

BHGE and the world-renowned Advanced Forming Research Centre (AFRC) at the University of Strathclyde have come together to work on advanced manufacturing for oil and gas. They will jointly explore the way latest advanced manufacturing tools and processes are driving more efficient, smarter techniques to cut cost and improve productivity across BHGE’s operations. The AFRC will assist BHGE in identifying prospects to reduce costs and cycle time.

TechnipFMC and Aker collaborate with Equinor
Sept. 27, 2018
Source: Energy Voice

TechnipFMC and Aker collaborate with Equinor

Equinor has strengthened its alliances with the global service provider companies, TechnipFMC and Aker Solutions. After entering into several framework agreements with both supplies in December 2017, new collaboration agreements have been signed recently to “establish a framework to ensure continuous improvements”. The main objective of this collaboration is to improve the safety, quality, cost and technology by subsea operation services and project execution.

Chevron stresses on the need of collaboration
July 11, 2018
Source: Vanguard

Chevron stresses on the need of collaboration

Speaking at the Nigerian Oil and Gas conference in Abuja, Chevron Nigeria’s MD advocated the need of collaboration among the oil firms so as to realize sustained investment and growth in the oil and gas industry in the country. He stressed over the creation of an enabling environment for investment to prosper, all the while congratulating the Nigerian government for its efforts in the direction.

Baytex and Raging River merger deal
June 19, 2018
Source: Compelo

Baytex and Raging River merger deal

A C$2.8bn ($2.13bn) merger agreement has been signed by the Canada-based Baytex Energy and its rival oil company, Raging River Exploration. The merged entity will trade under the name Baytex Energy, with a total worth of approximately $5bn. The combined firm will have an approximate production capacity of 94,000 boe/d, with a very diverse oil asset portfolio across Canada and in Texas.

Statoil begins mobilization for completion of Norway's Johan Sverdrup
May 6, 2018
Source: World Oil

Statoil begins mobilization for completion of Norway's Johan Sverdrup

Marking the beginning of the offshore mobilization of the giant field, which will be in production for more than 50 years, up to 2,400 men and women have started to mobilize for the hook-up and completion of Johan Sverdrup field in the North Sea. This is seen as a big day for Statoil and the Johan Sverdrup partnership.

New 2D multi-client program offshore West Africa commenced by Ghana
May 4, 2018
Source: World Oil

New 2D multi-client program offshore West Africa commenced by Ghana

In collaboration with Geoex and Ghana Geophysical, ION Geophysical Corporation announced that acquisition has begun on a new 2D multi-client program offshore Ghana. Together with its partners, ION will acquire about 7,200 km of data in advance to understand better the hydrocarbon potential of the area.

W&T Offshore, BHGE join hands for 14 GOM projects
May 2, 2018
Source: World Oil

W&T Offshore, BHGE join hands for 14 GOM projects

W&T Offshore and Baker Hughes, a GE company (BHGE), have come together in a strategic partnership for 14 drilling projects, most of which are operated by W&T in the Gulf of Mexico (GOM). The idea is to utilize the BHGE’s expertise in engineering, products and services to reduce total project costs and time, consequently enhancing the execution efficiency.

SABIC to be part of UK Plastics Pact
April 30, 2018

SABIC to be part of UK Plastics Pact

SABIC has signed an agreement to become a part of the UK Plastics Pact. Led by WRAP, a non-profit organization, it is a unique initiative which aims to transform the plastic packaging system in the UK and keep the plastic in the economy and out of the environment. Businesses will collaborate with UK government and NGOs to tackle plastic waste.

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