The Abu Dhabi National Oil Co. (ADNOC) said on Nov. 14 it would invest 5.1 billion dirhams (US $1.4 billion) to upgrade and expand its onshore Bu Hasa Field.
The upgrade will increase crude oil production capacity to 650,000 barrels per day (bbl/d), from 550,000 bbl/d, by the end of 2020, ADNOC said in a statement.
Repsol will still hold a 51% stake in the block after the deal.
Chevron said on Dec. 24 it expects Saudi-Kuwaiti Neutral Zone's Wafra oilfield to return to full production within 12 months.
Oil firms Equinor and Rosneft expect to extract some 250 million barrels of oil and 23 billion cubic meters of gas during the first part of the development of the Severo-Komsomolskoye oilfield in Russia, Equinor said on Dec. 23.