ExxonMobil Has Finally Left Iraq
The American oil company has finally abandoned the West Qurna 1 project in southern Iraq, transferring operational functions at one of the world’s largest oil fields to PetroChina. In 2023, the Iraqi authorities approved an agreement to transfer ExxonMobil’s 22.7% share in the West Qurna-1 project to the state-owned Basra …
Indonesia Approves Rokan Block Development Plan
Indonesia has approved a development plan for the Rokan block, which involves increasing oil recovery by displacing oil with steam. Reuters reports this. Let us recall that steam displacement of oil is a method of enhanced oil recovery (EOR) of formations, the most common when displacing high-viscosity oil. The volume …
Pertamina and Petronas Close Deal to Buy Shell’s Stake in Indonesian Masela Asset
Indonesia’s Pertamina and Malaysia’s Petronas have closed a deal to acquire Shell’s 35% stake in the Masela natural gas field, which includes the Abadi project, the Indonesian state-owned company reports. Pertamina Hulu Energi Masela received 20% of the project from Shell Upstream Overseas Services Limited, while Petronas Masela received 15%. …
Pertamina and Petronas Aim to Replace Shell in Masela Gas Project
Indonesian and Malaysian state-owned energy companies Pertamina and Petronas plan to jointly buy Shell’s stake in Indonesia’s Masela gas project. This was stated by the Minister of Energy of Indonesia A. Tasrif on the sidelines of the Energy Asia conference in Kuala Lumpur. Companies should soon determine the scheme of …