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The energy majors, Exxon and Total have been awarded licenses by Greece to search for hydrocarbons off the island of Crete. The companies will work as a consortium with Hellenic Petroleum and will have an eight-year research and exploitation licence in two offshore blocks. Greek Prime Minister said, "Today's agreement marks the utilisation by Greece of its own exclusive economic zone, following in the footsteps of other countries".
In its 31st licensing round, the Oil and Gas Authority (OGA) has awarded exploration and production rights to a host of firms. These operators range from new entrants to supermajors. It is being observed that the regulator has reflected a greater interest in this round than the previous offering in 2016. Further, many new proposed work programmes have been secured in this round.
DNO Oman Block 8 Limited has given up operatorship and participation in Oman Block 8 to Sultanate of Oman's Ministry of Oil and Gas and state-owned Oman Oil Company Exploration and Production LLC, informed DNO ASA. DNO Oman Block 8 Limited is a subsidiary of DNO ASA. In the handover ceremony held at Muscat, DNO’s MD informed that Block 8 produced 35 MMbbl of oil.
Asset optimization software company, Aspen Technology has joined hands with Advantech B+B SmartWorx to deliver IIoT Connectivity Solutions. Working under a software license and distribution agreement, the two firms will deliver low-cost Industrial Internet of Things (IIoT) infrastructure. The developed framework will enable its customers in asset-intensive industries to achieve higher levels of operational excellence through digital transformation.
India's Petroleum and Natural Gas Regulatory Board (PNGRB) has released a new set of guidelines to reinvigorate the stunted gas distribution across the country. The new provisions have lent a higher weightage to work program than tariff, raised the amount of performance guarantee, and relaxed the licensee’s obligation on financial closure, in securing gas supplies, and during delays due to restrictions imposed by the government.
The growth course of Wintershall, Germany's largest internationally active producer of crude oil and natural gas, continues as it has been awarded new exploration licenses in Brazil by Natural Gas and Biofuels (ANP), Brazil’s National Agency of Petroleum. The opportunity is promising as the Brazilian coast is one of the most favorable oil regions in the world. Wintershall is looking forward to build a diversified portfolio in Brazil.
The oil regulator, Petroleum and Natural Gas Regulatory Board (PNGRB), has fundamentally changed the bidding parameters for procuring a license to retail CNG and piped cooking gas in cities. According to the new regulations, future auctions would be conducted by asking companies to quote the number of CNG stations to be established and number of domestic cooking gas connections to be given in the first eight years of operation.
The RAK (Ras Al Khaimah) government has officially launched petroleum licensing round 2018 and established the RAK Petroleum Authority. This regulatory body will take care of the licensing round tendering process and would manage the ongoing petroleum rights. These actions are in sync with the vision of a developed Emirate with its natural resources