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October 05, 2017 - Contax Partners’ Energy Feed

Saudi Arabia interested in energy deals in Russia | OTTCO & Oxy sign MoU for crude storage at Ras Markaz | ADNOC & Bergen University collaborate to increase value from UAE reservoirs via new EOR methods

 

Saudi Arabia interested in energy deals in Russia 

Saud Arabia invests in RussiaWith Saudi Arabia's King preparing to visit Moscow, the country is looking at deals which involve acquiring oil & gas assets in Russia. While discussions are at an early stage, the Kingdom is considering investing in Russia's Eurasia Drilling Co. and Novatek PJSC's Arctic LNG 2. Saudi Aramco's Chief Executive Officer, Amin Nasser, stated that the company is interested in cooperating with Russian parties on oil & gas services, petrochemicals, renewables, advanced materials & other advanced technologies and cutting-edge basic & applied research.

 

OTTCO & Oxy sign MoU for crude storage at Ras Markaz

Oman Ras MarkazOman Tank Terminal Co. and Occidental Petroleum have signed an agreement to cooperate and to specifically store crude at the planned Raz Markaz oil terminal in Oman. The MoU covers up to 2mn barrels of Oxy's crude, which could potentially include US crude (including WTI). Currently, OTTCO is finalizing the EPC for phase 1 of the terminal which is expected to see up to 25mn barrels of crude oil storage built at Raz Markaz. Phase 1 is expected to be built by the end of 2019.

 

ADNOC & Bergen University collaborate to increase value from UAE reservoirs via new EOR methods

UAE works with Bergen UniversityADNOC has signed an agreement with the Center of Integrated Petroleum Research (CIPR) in Bergen University, Norway – a leading research institution in the oil & gas sector – to conduct applied research into Enhanced Oil Recovery (EOR) techniques that could extend the life of ADNOC’s oil reservoirs. This agreement will support ADNOC's goal of ensuring long term, sustainable and profitable oil production and its aim of recovering up to 70% of the oil present in a field.

 

 

 

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