OPEC proposed cutting oil production following a meeting in Algers in September. (OPEC) Discoveries & Reserves

OPEC deal set to hit Saudi gas production

Saudi Arabia is grappling with conflicting priorities – it needs to cut oil production to buoy prices but also wants to produce more gas to meet domestic demand.

Iranian Petroleum Minister Bijan Zangeneh is optimistic about his country’s upstream prospects. (PA) Licensing Rounds

Iran invites IOCs to qualify for upstream tenders

Iran has set the deadline for its first licensing round since the lifting of sanctions and has strict selection criteria for companies wishing to participate.

Petronas approves independent committee to review leases

Petrobras’ board has approved the creation of an independent committee to allow minority shareholders to review planned changes to some of its biggest oil and gas leases.

25 October 2016

CNPC expects shale block to beat production targets

China National Petroleum Corp. said its Changning-Weiyuan shale gas block in Sichuan province has produced 1.81 bcm this year as of 17 October.

25 October 2016

PGFK picked to drill new phases at South Pars

Iran’s Petro Gohar Farasahel Kish Co. has been selected to drill phases 22-24 of South Pars.

25 October 2016

First phase of Oman’s Khazzan project is 80% complete

The first phase of the massive Khazzan tight gas project in Oman is 80% complete, according to BP, which is carrying out the development.

25 October 2016

NPD approves production from Norway’s Ivar Aasen field

The Norwegian Petroleum Directorate has approved the start of production from the Ivar Aasen field in the North Sea.

25 October 2016

Petrobras and Total sign MOU

Petrobras and Total have signed a memorandum of understanding to create a strategic alliance covering upstream and downstream activities in Brazil.

24 October 2016

Santos sells offshore Australian assets to Cooper Energy

Santos has announced the sale of its assets off the coast of the Australian state of Victoria to Cooper Energy for A$82 million.

24 October 2016

Nigeria planning to explore Gongola Basin

Nigeria is planning to explore in the Gongola Basin, according to local media.

24 October 2016

Engie will not sell Cygnus

France’s Engie has confirmed it will not sell the Cygnus gas field in the UK North Sea, which is due to come onstream at the end of the year.

24 October 2016

SeaBird to explore offshore Belize

SeaBird Exploration has said it will commence a long-offset survey off the coast of Belize by the end of October.

24 October 2016

Large increase in US rig count

The United States gas rig count has increased by its largest amount on a weekly basis in two years.

21 October 2016

Gazprom will keep on drilling in Tajikistan

Gazprom plans to continue drilling in Tajikistan despite unsuccessful results at four blocks in the Central Asian country.

21 October 2016

Majors submit bids to explore offshore Bangladesh

Statoil, Daewoo and KrisEnergy have submitted bids to explore in the Bay of Bengal off Bangladesh.

20 October 2016

Pharaonic Petroleum wins Atoll field pipeline contract

Subsea 7 has awarded an EPC contract to Pharaonic Petroleum Co. to construct more than 40 km of pipelines to serve the Atoll field offshore Egypt.

20 October 2016

Protesters challenge UK green light for fracking

An anti-fracking pressure group has challenged the UK government’s decision to allow Cuadrilla to start exploring for unconventional gas.

20 October 2016
A rig off the Indian coast. IOCs have been reluctant to bid in the country’s latest licensing round. (BG Group)

India delays deadline for small fields auction

Despite widespread initial interest at the launch of India’s latest licensing round in May, it appears IOCs are staying away from its upstream.

20 October 2016
Small investment company Prospex is looking to get into gas exploration in Poland. (Piotr Drabik, Flickr)

Prospex sees conventional opportunities in Poland

Small investment company Prospex is looking to get into gas exploration in Poland as low prices cause many bigger companies to pause.

20 October 2016

Asia Pacific rig count falls by 8% in September

Asia Pacific saw its rig count drop in September with three rigs coming offline in Southeast Asia where demand for gas is experiencing strong growth.

20 October 2016

China doubles unconventional gas output

China’s gas production for the first three quarters of 2016 climbed by 2.2%, with a drop in conventional production offset by a near-doubling in unconventional output.

19 October 2016

Iran targets $10 bln in contracts by March 2017

Iran wants to sign oil and gas contracts worth $10 billion by March 2017.

19 October 2016

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