ExxonMobil Corp. is to launch a Vaca Muerta pilot project that could lead to a staged development of about 300 horizontal wells with an estimated production of 11 million cu m/day once completed.
French oil giant Total SA has agreed to acquire Danish conglomerate A.P. Moeller-Maersk A/S's oil unit for $4.95 billion, signaling a renewed appetite for deals in the global oil-and-gas industry.
The deal will help Total bolster its position among the world's largest oil companies, potentially boosting its earnings and cash flow and shoring up its ability to pay dividends.
Iran has announced it is exporting natural gas to Iraq in a deal that will earn the Islamic Republic a reported $3.7 billion per year.
Amir Hossein Zamaninia, the deputy petroleum minister for international affairs in Iran, said that natural gas exports had already begun.
Algeria has concluded a major gas deal with Italy, supplying 10 billion cubic meters of natural gas annually and thereby strengthening Italy's (as well as the rest of the EU's) security of supply. The gas will be shipped through the Transmed pipeline and will meet 16 percent of Italy's natural gas requirements.