TotalEnergies (TTE.L, TTE.PA) said Monday it made a hydrocarbon discovery on the Moho license, offshore the Republic of Congo.
The discovery follows the drilling of the MHNM-6 NFW exploration well, which encountered a hydrocarbon column of 160 meters.
The French energy giant also conducted an extensive data acquisition and sampling campaign to support subsurface analysis and future development plans.
TotalEnergies EP Congo is the operator of the Moho license with a 63.5% participation.
Saudi Arabia resumed pumping through the East-West pipeline at full capacity of 7 million barrels per day and recovered 300,000 bpd of affected volumes from the Manifa field production, the kingdom's energy ministry said Sunday.The operations were impacted by Iranian strikes since the US and Israel's war against Iran broke out on Feb. 28.The Ministry of Energy said work is still in progress to restore full production capacity at the Khurais field.
Advanced Petrochemical Co. (SASE:2330) said Sunday that its estimated attributable net profit for the first quarter declined, while revenue increased year over year.The estimated net profit attributable to shareholders of the issuer for the three months ended March 31 was 30 million Saudi riyals, compared with 72 million riyals earlier. EPS moved to 0.116 riyal from 0.277 riyal.The Tadawul-listed propylene and polypropylene products company's revenue was 1.08 billion riyals, compared with 614 million riyals a year ago.
Oil and gas drilling company Ades Holding (SASE:2382) said Sunday that Chevron Nigeria extended its offshore drilling services contract by a year, adding 178 million Saudi riyals to the group's backlog.The existing drilling contract for its premium jackup rig shelf drilling scepter in Nigeria is due to expire in July. The extended contract includes an unpriced option for an additional year.