Page 18 - DMEA Week 08 2021

DMEA NEWSBASE ROUNDUP GLOBAL (NRG) DMEA

NewsBase Roundup Global (NRG)

NRG WELCOME to NewsBase’s Roundup Global For years Dostluk, formerly known as Kapaz
(NRG), in which the reader is invited to join by Azerbaijan and Serdar by Turkmenistan, was
our team of international editors, who provide a contested by the two Caspian countries. But the
snapshot of some of the key issues affecting their pair signed a memorandum of understanding
regional beats. (MoU) in late January on joint exploration of
We hope you will like NRG’s new concise for- the deposit.
mat, but by clicking on the headline link for each
section the full text will be available as before. GLNG: Pair of Qatari deals
Two separate LNG-related deals have been
AfrOil: Angola votes on downstream, explo- announced this week, involving Qatargas and
ration its parent company, Qatar Petroleum (QP).
The government of Angola has announced plans Italy’s Saipem said it had received a contract
to reduce the country’s dependence on imported worth around $1.7bn from Qatargas for engi-
petroleum products. To this end, legislators have neering, procurement, construction and instal-
authorised President João Lourenço to offer lation (EPCI) of various offshore facilities at
special incentives for the construction of the Qatar’s North Field.
Cabinda refinery.
LatAmOil: Mexico offers support to Pemex
AsianOil: CNOOC Ltd makes Bohai Bay Mexico’s government is offering additional fis-
discovery cal support to Pemex, the national oil company
State-run Chinese offshore developer CNOOC (NOC), in the form of a stimulus package that
Ltd announced on February 22 that it had made includes around $3.5bn in tax breaks and a capi-
a significant shallow-water oil and gas discovery tal boost of $1.3-1.6bn.
in the Bohai Bay. Its plan complements a set of earlier conces-
The discovery in the Bozhong 13-2 structure, sions designed to reduce Pemex’s profit-sharing
which CNOOC Ltd described as “large-sized” duties in 2020 and 2021.
without providing a resource estimate, is located
in the bay’s south-western Ring of Bozhong Sag, MEOG: Price rally sees improved sentiment
in around 23 metres of water. The ongoing oil price rebound has seen sen-
timent throughout the Middle East improve
EurOil: TechnipFMC does the splits ahead of the upcoming OPEC+ meeting, which
France’s TechnipFMC has wrapped up the sepa- is rumoured to see a change of tack from Saudi
ration of its engineering and construction oper- Arabia as the Kingdom considers reversing its
ations from its services and technology activities. decision to cut output.
TechnipFMC announced the split in mid-
2019, two years after the company’s creation NorthAmOil: Profits, opportunities for TC
through the merger between France-based Canada’s TC Energy has reported a net profit
Technip and US-based FMC Technologies. But attributable to common shares of CAD1.124bn
it put the process on hold after the coronavirus ($890mn) for the fourth quarter of 2020, up
(COVID-19) pandemic struck. from CAD1.108bn ($878mn) year on year.
While the company expressed its disappoint-
FSU OGM: Lukoil turns to the Caspian ment with US President Joe Biden’s cancellation
Russian oil firm Lukoil has expressed interest in of the permit of the Keystone XL pipeline pro-
developing the Dostluk oil and gas field in the ject, TC Energy’s CEO, François Poirier, noted
Caspian Sea, Turkmen state media has reported. that it had a “large and diversified” asset base.™

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P18 www. NEWSBASE .com Week 08 25•February•2021