Dubai Offshore Oil Fields Transition to New Operator

Monday, August 07, 2006
The Government of Dubai and Dubai Petroleum Company (DPC) announced a joint agreement that will change the operating arrangements for Dubai offshore oilfields. Effective April 2007, DPC will end its role as operator, marking the end of Dubai's first offshore oil concession and the beginning of a new phase in which the Emirate of Dubai will directly control its offshore oil resources. DPC is wholly owned by ConocoPhillips and part of the DPC/Dubai Marine Areas Limited (DUMA) consortium involving interests from Total (France), Repsol YPF (Spain), RWE Dea AG, a subsidiary of RWE AG (Germany) and Wintershall AG, a subsidiary of BASF (Germany). Dubai oil will continue to be freely traded in the international oil market under contracts established by the Government and Dubai Petroleum Establishment (DPE), a new entity wholly owned by the Government of Dubai. Effective April 2, 2007, DPE will be responsible for operating the oilfields and for all future business related to the production of oil and gas in Dubai.
Maritime Reporter September 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds


Seadrill Hopes to See Market Turn in 2017

Offshore rig driller Seadrill is facing another two years in the doldrums but hopes the international rig market could turn around in 2017.   Rig rates have more

Eni Arctic Service Rig Extension Okayed

Italian oil company Eni has received permission from Norway's Petroleum Safety Authority to extend the use of a service rig on its troubled Arctic Goliat oil field offshore Norway until Nov.

Oil Spill Statfjord North Sea Field - Statoil

Loading of tankers suspended, unclear when it will resume. Oil spilled into the North Sea during the loading of a tanker at Norway's Statfjord field on Thursday, operator Statoil said.

Maritime Security

Steel Cut on UK Navy’s Newest Warship

Construction has begun on a new warship for the U.K. Royal Navy as the Minister of State for Defense Procurement, Philip Dunne MP cut the first steel in Glasgow today.

U.S. Will Dispatch Warships to South China Sea

The United States is expected to sail warships close to China's artificial islands in the South China Sea within the next two weeks to signal it does not recognize

Indonesia, Australia on Joint Sea Patrol to Combat Illegal Fishing

Indonesian and Australian authorities have signed an agreement to combat illegal, unreported and unregulated (IUU) fishing and to promote sustainable fisheries governance across the region.

Maritime Contracts Maritime Standards Naval Architecture Navigation Pipelines Pod Propulsion Salvage Ship Electronics Ship Simulators Sonar
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1427 sec (7 req/sec)