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Will 2017 signal upstream to start spending big again?

April 11, 2017

The future of upstream energy 2017 has started on a more optimistic note than what we have seen in the past couple of years. If we consider where we were this time last year we had oil prices under 30... View more

Upstream continues to evoke significant interest

September 26, 2016

New discoveries and reserves maintained Saudi Aramco s crude oil reserves at 261.1 billion barrels. Total gas reserves rose to 297.6 trillion scf and the oil giant discovered three new fields giving a... View more

OOCEP in upstream deal with PTTEP

July 25, 2016

The Oman Oil Company Exploration and Production (OOCEP) a subsidiary of state-owned Oman Oil Company (OOC) and Thailand s PTT Exploration and Production Public Company (PTTEP) have entered into a majo... View more

Upstream oil, gas M&A deals plunge

January 11, 2016

Despite an ample supply of oil and gas assets on the market due to low oil prices the overall merger and acquisition (M&A) deal count in the upstream energy sector plunged in 2015 as the weakness and ... View more

Upstream investment under new Iranian IPC contract

August 31, 2015

The signing of the JCPOA may usher in a new era of major international investment in the Iranian oil and gas industry. While the terms of the IPC are not yet completed initial reports indicate that th... View more

Cost of building and operating upstream facilities shoots up

December 9, 2012

THE costs of building and operating upstream oil and gas facilities continued to rise over the last six-month period and have reached record highs according to two cost indexes developed by IHS. The I... View more

UAE looks for more upstream partners

October 24, 2012

THE United Arab Emirates (UAE) is likely to allow more foreign partners especially from Asia to take stakes in its oil and gas concessions the chief executive of Abu Dhabi Marine Operating Company (Ad... View more

Qatar Petroleum looking for international upstream assets

June 3, 2012

QATAR Petroleum International the cash-rich overseas arm of state-owned Qatar Petroleum is seeking upstream assets and may announce an acquisition at any time CEO Nasser Jaidah says. QPI was satisfied... View more

Adnoc and CNPC sign upstream agreement

January 29, 2012

Abu Dhabi National Oil Company (Adnoc) and China National Petroleum Corporation (CNPC) have signed a strategic agreement to collaborate in upstream projects in undeveloped areas Wam has reported. The ... View more

Petronas oil and gas discoveries come at right time for Malaysia’s upstream push

May 30, 2011

IT HAS been quite a while since we last heard Petroliam Nasional Bhd (Petronas) and its production sharing contractors announcing new major discoveries of oil and gas in Malaysian waters. Its announce... View more

Paying petroleum tax can be taxing for upstream firms

March 28, 2011

MANY people are not aware that Thailand has a separate income tax regime for the upstream oil and gas business. Companies involving in exploring and drilling activities are not subject to the normal c... View more

Upstream O&G, not as bad as depicted, but still a way to go

December 27, 2010

THEN one thinks of drilling for oil and gas the phrase eco-friendly does not instantly spring to mind. The public perception of oil and gas exploration and production is often of an industry that can ... View more

$2.5bn upstream investment likely

October 25, 2010

Yokogawa Electric Corpo-ration has forecast considerable development in the oil and gas upstream industry and about 2.5 billion in investments in Abu Dhabi over the next three years. The company which... View more

Demand fuelling upstream growth

September 20, 2010

SAUDI Aramco will start exploring sub-salt structures in the deep water Red Sea within the next two years and start developing large oil and gas fields in the north of the country as part of its upstr... View more

Global upstream oil and gas transaction value declines

March 19, 2009

GLOBAL mergers and acquisition (M&A) upstream transaction value plunged to 104 billion in 2008 from an annual average of nearly 160 billion in 2005-2007 according to the 2009 Global Upstream M&A Revie... View more

Eni set to offer Gazprom $350m upstream assets

May 4, 2008

Italian oil and gas major Eni will offer Russian gas giant Gazprom upstream assets outside Italy worth 350 million as part of their deal to swap assets Eni chief executive Paolo Scaroni said. The asse... View more

Nippon Oil plans upstream boost

June 10, 2007

Japan s top refiner Nippon Oil will shift to investing in exploration and development to secure crude after high oil prices and cut-throat competition have boosted the costs of acquiring producing fie... View more

$26bn upstream investments set

April 29, 2007

Algeria s state-owned energy group Sonatrach plans to invest more than 26 billion upstream in the next five years the official APS news agency reported quoting the company s chief executive. We will b... View more

Pertamina seeks upstream stakes

April 29, 2007

Indonesia may require oil and gas firms to offer an up to 15 per cent stake to state-owned Pertamina in every new exploration block awarded by the government an energy ministry official said. R Priyon... View more

$26bn upstream investments set

April 19, 2007

Algeria s state-owned energy group Sonatrach plans to invest more than 26 billion upstream in the next five years the official APS news agency reported quoting the company s chief executive. We will b... View more

Specialists in upstream jobs

February 25, 2007

Global Energy Careers Co can help take the frustration out of finding an ideal job. The company specialises in upstream oil and gas placements. The company s only requirement from candidates is that t... View more

China may keep upstream curbs

March 5, 2006

China is unlikely to open the country s upstream sector to local private sector investment despite aims to lift output to meet rising oil demand led by rapid economic growth the China Securities Journ... View more

Total upstream spending hiked

September 18, 2005

Total SA will raise its annual capital spending by 1 billion to between 11 billion and 12 billion as oil-extraction costs soar and is considering a share split to bring its stock price in line with ri... View more

SBM powers Aramco upstream

September 27, 2004

Saudi Aramco continually sources powerful state-of-the-art hardware for its acquisition processing and interpretation needs. Beginning in the early 1990s Cray supercomputers were used for processing t... View more

Upstream sector sees upswing

August 28, 2004

China s state-owned oil company Sinopec is ready to negotiate production-sharing agreements (PSA) with the Yemeni government over two oil and gas blocks with a combined area of 3 100 sq km an industry... View more

Upstream investments buoyant in 2004

July 11, 2004

Pertamina has awarded two-year contracts to three construction and engineering firms to build production facilities at its gas fields in South Sumatra as well as being in advanced upstream talks with ... View more

Antech launches data acquisition system for upstream wireless use

June 13, 2004

AnTech Ltd a specialist engineering design and manufacturing company serving the international upstream oil and gas industries announced the launch of DAQ W a new data acquisition system capable of tr... View more

Firms pessimistic over China upstream sector

March 13, 2004

Foreign oil companies are pessimistic about investment opportunities in China s upstream petroleum sector mainly because of the technology needed to produce oil from the complicated geological blocks ... View more

National firm commits to upstream

August 9, 2003

The head of the Singapore Petroleum Co reported earlier this year that his firm remains committed to developing an upstream exploration and production business but competition for assets in the region... View more

Three new fields bolster upstream Iranian potential

August 2, 2003

Tehran was recently pleased to prove its exploration and discovery investments had paid off when Iran announced the discovery of three massive fields which are estimated to collectively hold more than... View more

Upstream operations continue to advance despite new setbacks

July 19, 2003

Yemen upstream operations have seen some beneficial advances this year proving that the thinking in Sana a is an open approach that includes many areas of the oil and gas industry. Transglobe Energy C... View more

Upstream takes centre stage

March 11, 2002

KUWAIT S UPSTREAM sector is currently abuzz with bids and projects as production capacity expansions and major investments come to fruition. The much-publicised 7 billion Kuwait Project is still under... View more

Chevron-Texaco looks to gain from upstream role

April 2, 2001

A merged Chevron-Texaco will be angled toward upstream exploration and production to take advantage of an expected long-term demand trend the top executive of Chevron Corp. said. Chevron-Texaco will b... View more

Buoyant upstream sector prepares gas future

February 26, 2001

WHILE MUCH of the focus of Kuwait s future upstream development is on oil the country will be obliged to look increasingly to gas. Agreements with gas-rich neighbours may provide a stop gap in supplie... View more

NPCC develops into major EPC contractor for upstream industry

January 15, 2001

A major engineering procurement and construction (EPC) contractor NPCC is part of the Adnoc Group of Companies. NPCC was established in April 1973 initially to provide a facility for the fabrication o... View more

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