EIA report finds that Iran's crude oil exports and production have declined since US announced that it would reinstate sanctions.
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Ichthys LNG terminal and liquefaction facility has exported its first cargo.
The company received a notification of award for orders valued at more than NOK 1.7 billion from the China National Offshore Oil Corporation to provide the subsea production system and umbilicals for the Lingshui 17-2 gas field.
As part of the agreement, Noreco will assume all of Shell’s existing commitments and obligations, including the Tyra redevelopment and the decommissioning costs associated with the assets.
The company has signed the contract for the exclusive exploration and development rights of the offshore block A5-A.
Production in the area, which spans Texas and New Mexico, could reach 5.4 million boe per day by 2023, putting it ahead of every OPEC country except Saudi Arabia.