Killajoules

Amec Foster Wheeler awarded multiple Algerian refinery contracts
Amec Foster Wheeler announces today that it has been awarded a front-end engineering design (FEED) contract by Sonatrach SPA for three new refineries located in Biskra, Tiaret and Hassi Messaoud, Algeria.

Total to acquire an additional 21.57% interest from Tullow in the Uganda Lake Albert Project
Total and Tullow have entered into a package agreement under which Total will acquire an additional 21.57% interest from Tullow in the Uganda Lake Albert oil project.

Following this transaction, Total will hold a 54.9% interest, strengthening its position in this competitive project and paving the way for a project sanction in the near future.

The overall consideration paid by Total to Tullow will be $900M, representing a reimbursement of a portion of past costs, payable in installments along the development of the project, with an initial payment of $100M at closing.

“Following the agreement on the Tanzanian export pipeline route, this transaction gives Total a leadership position to move this project efficiently toward FID in the current attractive cost environment, while providing strong alignment and a pragmatic financing scheme for our partner Tullow,” said Patrick Pouyanné, Total Chairman and CEO. “Our increased share in the Lake Albert project will bring significant value to Total and fits with our strategy of acquiring resources for less than 3$/b with upside potential.”

Under the terms of the deal, Total will acquire 21.57% out of Tullow’s existing 33.33% stake in all of the Lake Albert project licenses EA1, EA1A, EA2 and EA3A. Total, which is already operator of licenses EA1 and EA1A, will in addition take over operatorship from Tullow of license EA2, enabling significant efficiency gains and synergies.

Closing of the transaction is subject to customary regulatory and government approvals and to partner pre-emption rights.

Total in Uganda:

Total has been present in Uganda since 1955 in Marketing and Services with today over 150 service stations across the country and an overall market share of 24%. It is present in Upstream oil since 2011 after acquiring from Tullow a 33.33% interest in the licenses EA1, EA1-A, EA2, and EA3 covering the Lake Albert Oil discoveries. Total is then approved by the Government of Uganda to operate oil exploration and production activities in licenses EA1 and EA1-A

In April 2016, the Government of Uganda decided to export the Lake Albert oil through a pipeline (EACOP) via Tanzania to the port of Tanga. And in August 2016, the production licences for EA1 and EA2 were formally granted. The Uganda Joint Venture is now commencing the FEED (Front End Engineering and Design) phase for the Upstream and the EACOP pipeline.

ExxonMobil Announces New Oil Discoveries Offshore Guyana
ExxonMobil announced today positive results from its Payara-1 well offshore Guyana. Payara is ExxonMobil’s second oil discovery on the Stabroek Block and was drilled in a new reservoir. The Payara-1 well targeted similar aged reservoirs that were proven successful at the company’s Liza discovery.

BP awarded 10% interest in Abu Dhabi’s ADCO onshore concession
BP today signed an agreement with the Supreme Petroleum Council of the Emirate of Abu Dhabi and the Abu Dhabi National Oil Company (ADNOC) that grants BP a 10% interest in Abu Dhabi’s ADCO onshore oil concession, which has a life of 40 years.

Rumaila oilfield achieves 3 billion barrel production landmark
The Rumaila Operating Organisation (ROO), composed of BP, PetroChina and the South Oil Company of Iraq, today announced that the Rumaila oilfield has produced three billion barrels of oil since the joint venture began operating in January 2010.

SOCAR and BP-operated AIOC sign principles of agreement on future development of the ACG oil field in Azerbaijan to 2050
SOCAR (the State Oil Company of the Republic of Azerbaijan) and AIOC (the Azerbaijan International Operating Company) today signed a letter of intent (LoI) for the future development of the Azeri-Chirag-Gunashli (ACG) field in the Azerbaijan sector of the Caspian Sea.

Pertamina Licenses Axens Technologies for its Balikpapan and Cilacap Refineries in Indonesia
Axens announced today the signature of several technology licensing agreements with Pertamina for its major expansion project to upgrade residue into gasoline in Balikpapan and for a new middle distillate hydrotreater in Cilacap, to comply with new regulations.

Axens Awarded for a PolyFuel® Contract in Romania
OMV Petrom has selected Axens to supply the PolyFuel® technology for its project at the Petrobrazi Refinery.The capacity of the project is 200,000 tons per year.

BP and PTT sign LNG sale and purchase agreement
BP and PTT Public Limited Company (PTT) entered into a sales and purchase agreement for liquefied natural gas (LNG).

SBM Offshore Awarded Contracts for ExxonMobil Liza FPSO
SBM Offshore is pleased to announce that ExxonMobil subsidiary Esso Exploration and Production Guyana Limited has awarded the Company contracts for a Floating Production, Storage and Offloading vessel (FPSO) for the Liza development and production in Guyana.