Page 13 - Offshore Block News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Sales volumes rise The Bangkok-based giant took a further financial hit due to the revised production plan for Malaysian state player Petronas’ Yetagun project offshore Myanmar, in which it has a stake. Despite this, PTTEP last year posted average sales volume to 354,052 barrels of oil equivalent per day versus 350,651 boepd in 2019. "The company was able to generate profit by adjusting our operational plan, reducing the unit cost for the long term while maintaining our operational effectiveness and achieving business expansions as targeted," PTTEP chief executive Phongsthorn Thavisin said....

Dr Al Jaber said global consumption is expected to recover to 105 million bpd by 2030. “We are a long-term player. The future will require more oil and more hydrocarbon resources ... being the lowest-cost producer will always give us a competitive edge,” he said. The UAE is part of the 23-member Opec+ alliance of producers that agreed to curb output by a record 9.7 million bpd last year to rebalance oil markets. The curbs have since been eased to 7.2 million bpd and Dr Al Jaber said the “interim” measures are not in conflict with Adnoc’s long-term goals. The country, Opec's third-la...

Tuesday, 22 December, 2020 - 07:30 Abu Dhabi - Asharq Al-Awsat Abu Dhabi National Oil Company (ADNOC) announced on Monday the signing of an exploration concession agreement with a consortium led by Eni Abu Dhabi, a subsidiary of Italy’s energy giant, and PTTEP MENA, a unit of Thailand’s PTT Exploration and Production Public Company Limited (PTTEP). The award has been approved by Abu Dhabi’s Supreme Petroleum Council (SPC). It follows ADNOC’s award earlier this month of an onshore block to Occidental, highlighting how ADN...

ADNOC awards Eni, PTTEP concession amid plans to hit 5 mil b/d capacity by 2030 Abu Dhabi National Oil Co, the UAE’s biggest energy producer, has awarded Italy’s Eni and Thailand’s PTTEP an exploration concession amid plans to boost oil production capacity by 25% to 5 million b/d by 2030. The Eni-PTTEP consortium won rights to look for oil and gas in Offshore Block 3, the second award in ADNOC’s second bidding round, the company said in a statement Dec. 21. Occidental Petroleum won the first concession in the second bidding round, which was launched in 2019. PTTEP and Eni will hold 10...

Share Its subsidiary, PTTEP MENA Ltd, and Eni Abu Dhabi BV (Eni), a subsidiary of Italy-based oil and gas company Eni, won 2019 bidding for the concession from the state-owned Abu Dhabi National Oil Company (ADNOC). Photo PTTEP UAE’s largest offshore exploration block set for Thailand’s PTTEP, partner Tue, 22 December 2020 Thailand's PTT Exploration and Production (PTTEP) and strategic partner Eni have been awarded the concession for the largest exploration block offered by the UAE. The investment in Offshore Block 3 provides PTTEP with more opportunity to strengthen its investment portfo...