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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    Iraq came to the top... a list of the 5 largest oil deals in November

    Rocky
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    Iraq came to the top... a list of the 5 largest oil deals in November Empty Iraq came to the top... a list of the 5 largest oil deals in November

    Post by Rocky Wed 06 Dec 2023, 3:52 am

    [size=35][size=35]Iraq came to the top... a list of the 5 largest oil deals in November[/size]
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    2023-12-06 | 01:54
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    Alsumaria News - Economy

    The 5 largest oil deals in November (2023) witnessed a strong presence from Iraq and Algeria, with increasing development and investment work in the oil sectors in both countries, according to a report by the specialized energy platform.


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    The importance of oil is increasing with the escalation of the global energy crisis, at a time when the markets are witnessing a state of confusion, due to the continued implementation of the voluntary reduction in oil production, announced by member states of the OPEC+ alliance, led by the Kingdom of[url=https://www.alsumaria.tv/Entity/47950/%D8%A7%D9%84%D9%85%D9%85%D9%84%D9%83%D8%A9 %D8%A7%D9%84%D8%B9%D8%B1%D8%A8%D9%8A%D8%A9 %D8%A7%D9%84%D8%B3%D8%B9%D9%88%D8%AF%D9%8A%D8%A9/ar/]Saudi Arabia[/url]and Russia, with the aim of controlling the markets and preventing speculation.



    [You must be registered and logged in to see this link.]came at the top of the five largest oil deals in November, through major agreements related to investment, production and development in the “West[You must be registered and logged in to see this link.]1” and “West[You must be registered and logged in to see this link.]2” fields by international companies, while foreign investments came to Algeria to enter the list. From a wide perspective.

    In this report, the specialized energy platform monitors the list of the five largest oil deals in November, which contribute an important role in enhancing the presence of crude in global markets, through commercial operations, or investments in the fields of exploration, research, development and production, which came as follows: :

    Chinese[You must be registered and logged in to see this link.]in[You must be registered and logged in to see this link.]
    [You must be registered and logged in to see this link.]topped the list of the top 5 oil deals in November, after announcing that it had granted the Chinese company Petro[You must be registered and logged in to see this link.]the right to become the main operator of the West[You must be registered and logged in to see this link.]1 field, instead of Exxon Mobil, which had withdrawn. from him.

    This deal came under a settlement agreement concluded by the[url=https://www.alsumaria.tv/Entity/1016310985/%D9%88%D8%B2%D8%A7%D8%B1%D8%A9 %D8%A7%D9%84%D9%86%D9%81%D8%B7 %D8%A7%D9%84%D8%B9%D8%B1%D8%A7%D9%82%D9%8A%D8%A9/ar/]Iraqi Ministry of Oil[/url]With the giant American energy company, with the aim of putting the final touches on its exit from this field, according to the specialized energy platform.

    Under the agreement, which was concluded on November 11, the Chinese company[You must be registered and logged in to see this link.]will own the majority stake in the West[You must be registered and logged in to see this link.]1 field in[You must be registered and logged in to see this link.], after ExxonMobil leaves this stake, according to what was published by Reuters.

    The Assistant Director of the[You must be registered and logged in to see this link.]Oil Company for field affairs and licensing rounds, Hassan Muhammad, pointed out the signing of a “sale agreement” to arrange financial matters to complete the[You must be registered and logged in to see this link.]Oil Company's acquisition of ExxonMobil's share, as the sale agreement includes a commitment to settle the value of the tax required from the American company in exchange for selling its share to[You must be registered and logged in to see this link.].

    [You must be registered and logged in to see this link.]'s West[You must be registered and logged in to see this link.]2 field
    In addition to the first deal for the West[You must be registered and logged in to see this link.]1 field,[You must be registered and logged in to see this link.]strengthened its presence at the top of the list of the five largest oil deals in November, by concluding a new agreement with the Russian company Luk Oil, to develop the West[You must be registered and logged in to see this link.]2 oil field. .

    The Russian company announced in a statement that it had signed the agreement to improve conditions in the Iraqi field, and to extend the services contract with the Ministry of Oil responsible for the field for another 10 years, stressing that the agreement will lead to gradual doubling the field's capacity.

    West[You must be registered and logged in to see this link.]2 field is one of the largest oil fields in the world. It is located in the southern part of[You must be registered and logged in to see this link.], 65 kilometers northwest of[You must be registered and logged in to see this link.], and its primary recoverable reserves amount to about 14 billion barrels.

    It is noteworthy that the first contract signed between[You must be registered and logged in to see this link.]and the Russian Lukoil Company, which was renewed for another 10 years, was signed for the first time on December 12, 2009, to develop the field, and on January 31, 2010, the services contract was signed to develop the West[You must be registered and logged in to see this link.]2 station. And its production.

    Addis[url=https://www.alsumaria.tv/Entity/47950/%D8%A7%D9%84%D9%85%D9%85%D9%84%D9%83%D8%A9 %D8%A7%D9%84%D8%B9%D8%B1%D8%A8%D9%8A%D8%A9 %D8%A7%D9%84%D8%B3%D8%B9%D9%88%D8%AF%D9%8A%D8%A9/ar/]Saudi Arabia[/url]in Algeria
    The list of the top 5 oil deals in November witnessed the presence of[url=https://www.alsumaria.tv/Entity/47950/%D8%A7%D9%84%D9%85%D9%85%D9%84%D9%83%D8%A9 %D8%A7%D9%84%D8%B9%D8%B1%D8%A8%D9%8A%D8%A9 %D8%A7%D9%84%D8%B3%D8%B9%D9%88%D8%AF%D9%8A%D8%A9/ar/]Saudi Arabia[/url]and Algeria, through[url=https://www.alsumaria.tv/Entity/4153060128/%D8%AE%D8%AF%D9%85%D8%A7%D8%AA %D8%AD%D9%82%D9%88%D9%84 %D8%A7%D9%84%D9%86%D9%81%D8%B7 %D9%81%D9%8A %D8%A3%D8%AF%D9%8A%D8%B3/ar/]Addis Oilfield Services[/url]Company strengthening its presence in Algeria, with two long-term contracts with Sonatrach. Under the deal signed between[url=https://www.alsumaria.tv/Entity/47950/%D8%A7%D9%84%D9%85%D9%85%D9%84%D9%83%D8%A9 %D8%A7%D9%84%D8%B9%D8%B1%D8%A8%D9%8A%D8%A9 %D8%A7%D9%84%D8%B3%D8%B9%D9%88%D8%AF%D9%8A%D8%A9/ar/]Saudi Arabia[/url]'s Addis and Algeria's Sonatrach, the company was able to secure a 5-year contract for two of its land platforms, namely the Addis 810 and ADES 815, which are currently operating in Egypt.

    A company operates[url=https://www.alsumaria.tv/Entity/3721954869/%D8%A3%D8%AF%D9%8A%D8%B3 %D8%A7%D9%84%D8%B3%D8%B9%D9%88%D8%AF%D9%8A%D8%A9 %D8%A7%D9%84%D9%82%D8%A7%D8%A8%D8%B6%D8%A9/ar/]Addis Saudi Holding[/url]- It is one of the leading global companies in providing drilling and production services to the oil and gas sector - to expand the scope of its operations in the Southeast Asia region, in addition to Middle Eastern countries, such as[You must be registered and logged in to see this link.].



    It is expected that work with Sonatrach will begin in[You must be registered and logged in to see this link.]-Under the new deal that pushed the two companies to the list of the top 5 oil deals in November, during the second half of next year 2024, according to the specialized energy platform.

    [You must be registered and logged in to see this link.]Chinese in[You must be registered and logged in to see this link.]
    Among the 5 largest oil deals in November 2023, a deal came[You must be registered and logged in to see this link.]with a company[You must be registered and logged in to see this link.]Sinopec, to launch a project in the country with billions of investments, according to the specialized energy platform.

    The deal comes as part of Chinese oil refineries' efforts to expand beyond the country's borders. The Sri Lankan Minister of Energy said:[url=https://www.alsumaria.tv/Entity/3727836060/%D9%83%D8%A7%D9%86%D8%AA%D8%B4%D8%A7%D9%86%D8%A7 %D9%88%D9%8A%D8%AC%D8%B3%D9%83%D8%B1%D8%A7/ar/]Kanchana Wijeskra[/url]His country accepted the offer[You must be registered and logged in to see this link.]China built a giant oil refinery on its territory.

    The new deal would support foreign investments in[You must be registered and logged in to see this link.], which is suffering from the worst economic crisis in 70 years, as the Chinese company offered to build the refinery in[You must be registered and logged in to see this link.]With investments amounting to at least 4.5 billion US dollars.

    In early November, an official in...[You must be registered and logged in to see this link.]The Chinese company will begin preparing the engineering design for the new oil refinery, including space and technical preparations, as soon as it obtains government approval.[You must be registered and logged in to see this link.].

    Increasing Nigerian oil production
    The Nigerian government reached a deal with France's TotalEnergies, which included it among the five largest oil deals in November 2023, to launch a new drilling campaign off the coast of the country, with the start of drilling the first development well in the Akpo West project. .

    This development well is the first of 3 planned wells in the field located within the “OML 130” production license, as the 3 wells are expected to be connected to a floating vessel for production, storage and unloading, according to information monitored by the specialized energy platform.

    Total Energy is Upstream[You must be registered and logged in to see this link.]OML 130 license operator with a 24% stake, in partnership with the Chinese CNOOC with a 45% stake, the Nigerian company Sapetro with a 15% stake, and the Nigerian Prime 130 company with a 16% stake.[url=https://www.alsumaria.tv/Entity/347877196/%D8%B4%D8%B1%D9%83%D8%A9 %D8%A7%D9%84%D9%86%D9%81%D8%B7 %D8%A7%D9%84%D9%88%D8%B7%D9%86%D9%8A%D8%A9/ar/]National Oil Company[/url]Nigeria, the concessionaire of the co-production contract.

    Under the deal, which is included in the top 5 oil deals in November, the wells will be connected to the floating production, storage and offloading ship “Akpo”, as Total Energy expects to start production from this short-cycle project by the end of this year 2023, according to what was reported by the Offshore Energy platform ([url=https://www.alsumaria.tv/Entity/1947294945/Offshore Energy/ar/]Offshore Energy[/url]).

    [You must be registered and logged in to see this link.]

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