Contracts

Algeria’s Sonatrach eyes partnerships with Exxon Mobil

October 01, 2019 | Algeria, Contracts, Mergers, Acquisitions & JVs

Algiers, Algeria |   –  Algeria’s state-owned Sonatrach held meetings with Exxon Mobil last week to discuss possible partnerships, a Sonatrach statement said on Monday, a week after it said it had talked with America’s Chevron Corporation. Sonatrach gave no further details of the September 25 and 26 meetings but the energy producer has said it wants to boost output to increase revenues after a decline in prices hit its budget. Some 95% of Algeria’s foreign revenue comes from oil and gas sales. Since energy prices …

Aker wins BP contract for Greater Plutonio and PSVM fields offshore Angola

October 05, 2018 | Angola, Contracts, Offshore, Support Services

London,  UK | – Multinational oil and gas giant BP has given a five-year brownfield services contract to Aker Solutions for its producing Greater Plutonio and PSVM fields located offshore Angola. Under the contract, the Norwegian oil services company will be responsible for the brownfield modifications, maintenance and operations support of the Greater Plutonio and PSVM fields. According to Aker Solutions, the scope of the contract includes supply of engineering, procurement, and construction services for brownfield projects on the floating production, storage and offloading (FPSO) …

Nigeria’s NNPC signs contracts for 614km gas pipeline project

April 07, 2018 | Contracts, Nigeria, Pipelines

Abuja, Nigeria | – The Nigeria National Petroleum Corporation (NNPC) has signed contracts for engineering, procurement, construction, commissioning and financing for 614km Ajaokuta-Kaduna-Kano (AKK) Gas Pipeline and Stations. The NNPC spokesman, Mr Ndu Ughamadu, made this known in a statement on Friday in Abuja.He said the AKK Gas Pipeline and Stations Project comprised Lots 1 and 3, and measured 40inch x 614km. According to him, the agreement, which is 100 per cent contractor-financing model, has been signed with a consortium of indigenous and Chinese companies. …

Saudi Aramco signs oil, gas deals worth $4.5 billion

November 10, 2017 | Contracts, Government & Regulations, Middle East

Agreements inked with companies from the UAE, Spain, Italy and China London, UK | – Saudi Aramco has signed agreements worth nearly $4.5 billion with multinational oil and gas contractors, in what the company dubbed as an effort to diversify the economy. The deals were signed with companies including Spain’s Tecnicas Reunidas, Italy’s Saipem, China Petroleum Pipeline and Abu Dhabi’s National Petroleum Construction. The investments “reflect our concerted effort… to diversify our economy, promote local manufacturing, support a sustainable environment and strengthen our business and …

34 firms bid to secure NNPC’s downstream assets in Nigeria

November 02, 2017 | Company Operations, Contracts, Nigeria

Abuja, Nigeria |  — The Nigerian National Petroleum Corporation (NNPC) has described the bid by a total of 34 firms to provide security services for its assets across the country as efforts to consolidate on steady supply and distribution of petroleum products in the country. A statement from the Corporation said the public opening of bid is part of the Corporation’s commitment to transparency as a Focused, Accountable, Competitive and Transparent organisation, conducting its business with Integrity (FACTI) as reported by Nigerian newspaper Leadership. The …

Tanzania signs oil exploration deal with Uganda

October 13, 2017 | Contracts, Exploration / Discoveries, Tanzania, Uganda, Upstream

London, UK | – Tanzania has entered into an agreement with Uganda to help in the search for oil in the Eyasi Wembere Basin and Lake Tanganyika. The two countries already have a crude pipeline deal. This puts to doubt Tanzania’s previous agreement with Democratic Republic of Congo signed a year ago to work on a joint oil exploration in Lake Tanganyika. DR Congo has discovered oil in Lake Albert on its border with Uganda and it hopes to find oil in Lake Tanganyika. Experts …

Total signs major Iran gas deal, defying US pressure

July 05, 2017 | Contracts, Middle East

Tehran, Iran |  — French energy giant Total defied US pressure on Monday by signing a multibillion-dollar gas deal with Iran, the first by a European firm in more than a decade. Total will invest an initial US$1 billion (880 million euros) in the South Pars offshore gas field as part of a consortium with Chinese and Iranian firms. The 20-year project, which will eventually see the firms inject US$4.9 billion, is by far the biggest vote of confidence in the Islamic republic since sanctions …

Nigerian state oil firm NNPC saved $2 billion with cheaper contracts

July 05, 2017 | Company Operations, Contracts, Nigeria

Abuja, Nigeria | – Nigeria’s state oil company has saved $2 billion (N40 billion) in the past year by renegotiating its upstream servicing contracts, it said in a statement on Tuesday, as it tries to reduce high overheads. The Nigerian National Petroleum Corporation (NNPC) is attempting to revive the oil industry on which the country’s economy depends, and which the government relies on for roughly two-thirds of its revenue. Militant attacks on oil facilities last year cut production by as much as a third, helping …