World of Oil ///

BP initially estimated the fire that broke out Oct. 6 at Gathering Centre 2 at the Prudhoe Bay oilfield in Alaska would cut output by 30,000 bpd for two weeks. BP has decreased the amount of oil output it expects to lose to 20,000 bpd. The company has not changed its estimate for the repair of the facility and continues to expect output to be restored two weeks from the fire. Government authorities in the autonomous region of Kurdistan in northern Iraq have approved four new oil contracts and two planned refineries. Canadian Heritage Oil Corp unit Heritage Energy Middle East Ltd has signed a production-sharing contract for the Minran block in the Souleimaniyeh province. Perenco Group unit Perenco SA signed a second contract with the authorities for the Sindi/Amedi block, near the Iraqi Turkish border. Two further production-sharing contracts will be signed soon with foreign firms.

Log in to view this article.

Not yet a subscriber?  Get started now for immediate access to this content and more.



Already a subscriber but don’t have an online account? Contact our customer service.