A Barrel Fulll Archive

June 11, 2024  PTTEP acquires a 10% participating interest in the Ghasha Concession , one of the largest natural gas fields in the United Arab Emirates which aims to operate with net zero emissions. This strategic investment will immediately add the company’s petroleum reserves. Mr. Montri Rawanchaikul, Chief Executive Officer of PTT Exploration and Production Public Company Limited (PTTEP), revealed that PTTEP MENA Limited, a subsidiary of PTTEP, has signed a Sales and Purchase Agreement (SPA) with Wintershall DeaMiddle East GmbH, a German energy company to buy a 10% participating interest in the Ghasha Concession, a sizable natural gas field offshore Abu Dhabi in the United Arab Emirates (UAE). This transaction has been approved by the relevant regulatory authorities and will add company’s petroleum proved reserves in line with company’s strategic plan. “The acquisition of the Ghasha Concession, a significant natural gas field, marks an important step in strengthening PTTEP’s Mid...

November 10, 2017 Statoil is signing a letter of intent with Sembcorp Marine Rigs & Floaters Pte. Ltd in Singapore for the construction of the hull and integrated living quarters for the floating production, storage and offloading (FPSO) vessel that will be located on the Johan Castberg field in the Barents Sea. The contract will be signed at the final investment decision scheduled before Christmas. Covering engineering, procurement and construction the contract has a value of NOK 4 billion. The contract, which was won through international competitive bidding, marks an important milestone for the progress of the Castberg project. There were no Norwegian bids for the contract. “We will be working closely with Sembcorp Marine to ensure safe and efficient delivery based on our requirements for HSE, quality, time and cost. The remaining procurement work will be progressed in parallel with this,” says Statoil’s chief procurement officer, Pål Eitrheim. The construction of the hull is t...