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Algeria’s Sonatrach to Invest $50 billion, Boost Crude Output

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Algeria’s state-run energy producer plans to boost crude oil output by 14% in the four years to 2019 and invest billions of dollars in exploration projects. Sonatrach Group expects to invest $9 billion from 2017 to 2021 in its search for new deposits of oil and natural gas, said Farid Djettou, head of the company’s associations division, which is responsible for foreign contracts. Sonatrach will drill an average of 100 wells annually over the same five years and plans to invest more than $50 billion in all of its operations during this period, Djettou said Wednesday in an interview in the coastal city of Oran. Algeria is Africa’s biggest gas producer and a member of OPEC, and Sonatrach’s exports generate more than half of the government’s budget revenue. The country’s oil output has declined since August 2008, and its production of 1.04 MMbpd in February was at the lowest level since 2002, according to data compiled by Bloomberg. The government appointed a new chief executive ...
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Petroleum Technologist Vacancy

Job Details Location: Nigeria > Benin City Salary: Excellent Working Locations: Site Posted: 18/03/2017 12:02:00 Expires: 17/05/2017 12:02:00 Key Requirements At least 10 years E&P experience as a Completion Engineer / Production Technologist / Petroleum Engineer / Production Engineer / Completion Engineer. Good interpersonal skills, with the ability to communicate and work with Exploration, Reservoir, Facilities and Operations teams. English language is essential. Previous experience in technical and economical evaluation of Oil & Gas production projects. Practical hands on experience in operational issues related with subsurface engineering and down-hole production engineering. Previous experience in leading cross functional teams, creating liaisons with external research organisations and providing economical justification for all programmes to senior management and field partners. Specific Skills required in production engineering (Well Intervention): Upper and...
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Four questions you need to answer before shooting a 4D Seismic (Part 1) – Why 4D? Why this reservoir?

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iResGeo has considerable experience in the integrated 4D feasibility studies through integration of petrophysics, reservoir engineering and geophysical expertise. In this series of articles we go through key elements of best practices for 4D feasibility studies. 4D feasibility studies determine the scope of application of the 4D technology in development of the field under study. The decisions that are made in this stage could have long term impact on future management of the field. Questions to be considered in 4D feasibility include: – Assessing the detectability of the expected 4D signal from production induced changes in the reservoir over time. – How frequent should we use seismic monitoring? – How repeatable the surveys should be, suggestions for survey design? – Can the existing seismic surveys serve as the baseline? – What is the added value of the 4D technology? 4D feasibility Why shoot 4D on this reservoir? If 4D seismic technology has not been implemented ...
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Chevron Oil Corporation posts 17% drop in revenue

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Chevron posted total earnings of US$415 million for Q4 2016, however, posted a loss for full-year 2016 that the US supermajor says were due to the low oil prices. Chevron’s Q4 2016 earnings reflected a gain, when compared to Q4 2015’s loss of $588 million. For full-year 2016, the company reported a loss of $497 million, compared 2015’s earnings of $4.6 billion. The company's Q4 2016 revenue came in at $31.5 billion, compared to 2015’s $29 million. Its full-year 2016 suffered a 17% decline, going from $138 billion in 2015, to $114 billion in 2016. “Our 2016 earnings reflect the low oil and gas prices we saw during the year,” Chevron Chairman and CEO John Watson says. “We responded aggressively to those conditions, cutting capital and operating expenses by $14 billion. We are well positioned to improve earnings and be cash flow balanced in 2017 through continued tight spending and cost control and additional revenue from expected production growth. That confidence enabled us to i...
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APC Governorship Candidate Dies In Kogi

A governorship aspirant of the All Progressives Congress, APC, in Kogi State, Abdul-Aziz Aliyu, is dead. AbdulAziz Omeiza and his younger brother, Salmanu Adeiza Aliyu lost their lives in a fatal road accident that happened at Jere town along Kaduna – Abuja federal highway yesterday March 14th. A family spokesman, Abubakar Aliyu said the 36 year old politician was returning from Abuja to Kogi with his younger brother when the chattered vehicle they were riding in got involved in the accident. All occupants in the car died. According to the family spokesman: “Omeiza spoke with his father around 1.30pm Saturday few minutes into the ill fated journey and barely half an hour, we received the shocking and sad news of his demise from a samaritans from the scene of the accident. From the report we received none of passengers on the ill fated Sharon car survived and they have been given mass burial at location at Jere town”. Speaking on his children's death, Alhaji Momohji...
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Pastor Chris & Anita Oyakhilome Reportedly Share Their Two Children

Months after the seperation of Pastor Chris Oyakhilome, the founder of Christ Embassy Church and his wife Pastor Anita, the estranged couple have reportedly shared their two children. While Sharon, the eldest, prefers Pastor Chris, Charlene is presently with Anita. Anita had last year April approached a London court, seeking a divorce on the grounds of adultery among several allegations. The suit, number FDI 4001650, was filed on her behalf by Attwaters Jameson Hill Solicitors on April 9, 2014 at the Divorce Section A, Central Family Court, First Avenue House, High Holborn, London, United Kingdom. Pastor Chris was served the divorce letters in his hotel room during one of his visits to the UK. Efforts to reach the camp of Pastor Chris last night proved abortive. Pastor Chris Oyakhilome, had then denied the allegations leveled against him by Anita and even threatened to sue media houses for damaging his name and Church. Last September, a statement by his counsel, Kemi Pinheiro (SAN), d...
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In search of a Husband: What the 21st Century Ladies Do

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A recent survey by a poll of over 750 psychologists from around the world has revealed that only 3% of single women of marriageable age are undisturbed by their lack of a spouse! According to the study, the other 97% would do just about anything to become "Mrs. Somebody''. As we read on, we are going to see some rather unorthodox things women will do in their quest to bag a husband! Some are bizarre, some are skanky and some are downright sad but if you are willing to try anything and getting a husband is theonly activity left on your bucket list, you might want to try a few! (Men beware). In no particular order: 1)Snatching a friend or relation's man. All is fair in love and war! Rumour has it that women have resorted to locking their phones, hiding their men and coding their gist from so-called friends because it's a jungle out there. 2)Re-inventing themselves. Pretence is the order of the day. No man wants to tame the shrew or teach the inexperienced or ...
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