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RAK Petroleum holds a 40.45% interest in DNO, which is focused on exploration & production in Iraq & Oman. The Oslo-listed company, originally founded in the UAE, signed an exploration and production sharing agreement with Eni in April 2019 for Block A Offshore in RAK, which covers 2,412 km2.

Malaysia’s Petronas is exploring collaboration opportunities with the UAE’s ADNOC in exploration, development and production, and it would extend into potential research and development, including EOR, carbon capture utilisation and storage, gas sustainability, specialty chemicals, unconventional resources, hydrogen technologies, and more.

Egypt has continued to make strong  moves to attract foreign oil companies to drive investment into the nation’s oil and gas sector, and the Egyptian General Petroleum Corporation and EGAS signed nine exploration deals in January 2021, with plans for further tenders including offshore blocks in the Mediterranean and Nile Delta. Schlumberger is also partnering […]

Wintershall DEA already has strong interests in the region, and in March 2021 signed an agreement to jointly explore the East Damanhour onshore exploration block in Egypt with Cheiron and INA. The company also revealed an artificial intelligence search engine to enhance exploration efforts, allowing users to extract information from unstructured data like reports and […]

Sonatrach has continued looking for partnership opportunities with international oil companies as it seeks to expand its operations and drive investment into Algeria’s upstream segment. The company recently partnered with Norway’s Equinor to examine opportunities in exploration and production, reducing greenhouse gas emissions and industrial safety management.  Sonatrach is also looking to expand its presence […]

ExxonMobil has been looking to divest its 32.7% stake in Iraq’s major West Qurna 1 field. Iraq sent an official request to acquire the company’s shares in the field, which are estimated to value $350 million. ExxonMobil reported Q1 2021 earnings of $2.7 billion on higher oil prices and the company’s focus on cost reductions. […]

EGAS has been active in the past year; the company recently signed nine agreements worth $981 million to explore natural gas and drill 18 exploration wells. With major gas resources in the country, it has attracted the interest of major international oil companies. In January 2021, TotalEnergies signed a deal with EGAS for exploration and […]

Kuwait Foreign Petroleum Exploration Company, a subsidiary of Kuwait Petroleum Company which operates outside of the nation, in February 2021 revealed that it made its largest ever gas discovery offshore Malaysia. Kuwait has big plans for expansion, but they seem to have been put on hold as KPC cut its oil sector spending by $2.3 […]