The majority of foreign companies are not making any profit or losing money in their partnerships with PDVSA to develop and produce hydrocarbons.
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.
More Upstream news updates
Total has agreed to purchase from Chevron all the share capital of Chevron Denmark Inc. which holds a 12% interest in the Danish Underground Consortium (DUC), a 12% interest in Licence 8/06, and a 7.5% interest in the Tyra West pipeline.
The Supervisory Board of Fugro NV has announced that it has decided to appoint Mark Heine as CEO and Chairman of the Board of Management.
The company has announced a major gas discovery on the Glendronach prospect, located offshore U.K. West of Shetland.
Gastech 2018 has closed with the organisers reporting in excess of 30 000 attendees over four days - a record for the 30th edition of the event - laying a strong foundation for the 2019 event in Houston.
ESAI Energy’s pipeline assessments address the status and timing of proposed pipeline projects and estimate the impact these projects have on the origin and destination points in key markets.