Weekly HEG Global Energy Digest
Russia’s Gazprom Neft Boosts Oil Output Capacity In Kurdistan:
Russian oil producer Gazprom Neft has increased the production capacity of its Sarqala Field in Iraqi Kurdistan by 25% by launching a third production well.
The cumulative daily oil production at the field has reached 35,000 barrels.
Gazprom Neft plans to produce 1.2 million tonnes at Sarqala in 2019, of which its share will reach more than 0.5 million tonnes.
The company participates in two projects in Iraqi Kurdistan, at the Shakal and Garmian blocks. Garmian includes the Sarqala Field.
Gazprom Neft has 40% in the Garmian Block, the Kurdistan government owns 20%, and Canada’s WesternZagros has 40%.
Last year the company said it was in talks with Repsol about joint projects controlled by the Spanish oil major in Iraqi Kurdistan.
Article Source: https://www.energymarketprice.com/energy-news/russia%E2%80%99s-gazprom-neft-boosts-oil-output-capacity-in-kurdistan
Novatek agrees to supply Arctic LNG 2 gas to Repsol:
Russia’s largest independent natural gas producer and LNG operator Novatek has signed a non-binding heads of agreement (HoA) for the supply of LNG with Repsol.
Novatek said on Tuesday that the agreement with Repsol was signed by the company’s trading unit Novatek Gas&Power Asia.
The heads of agreement envisages concluding a 15-year contract with an annual supply of 1 million tons of LNG from the Arctic LNG 2 project as well as other Novatek’s projects. The LNG will be delivered ex-ship primarily to markets on the Iberian Peninsula.
Novatek’s first deputy chairman of the management board Lev Feodosyev said: “The agreement for the sale of LNG would allow us to increase our market presence on the Iberian Peninsula where Russian pipeline gas is not supplied.”
As for the Arctic LNG 2 project envisages constructing three LNG trains at 6.6 million tons per annum each, using gravity-based structure platforms.
Article Source: https://www.energymarketprice.com/energy-news/novatek-agrees-to-supply-arctic-lng-2-gas-to-repsol