Bapco to deploy Avaya network

MANAMA: Bahrain Petroleum Company (Bapco), the national oil company of Bahrain, has chosen Avaya to transform its network infrastructure. In line with its business objectives of digital transformation and rebranding, Bapco will deploy Avaya’s next-generation fabric networking technology to power the corporate network across its locations in Bahrain, enabling the company to securely and seamlessly add services and devices in the Internet of Things (IoT) era. The first company to discover oil in the Arabian Peninsula in 1932,

Iran signs 12 oil contracts

TEHRAN: Iran has signed 12 contracts with foreign companies operating in the sector, said a top official, adding that there are plans to sign 12 new deals with foreign firms. bLow cost and low risk for oil and gas production as the two advantages foreign companies see in investment in Iran, deputy head of National Iranian Oil Company (NIOC) Gholamreza Manouchehri was quoted as saying in an Iran Daily report, which cited Tasnim News Agency. Iran plans to raise oil production to as high as four million of barrels per day, the report said.

Oman to speed up Tayseer

MUSCAT: The Petroleum Development Oman (PDO) plans to accelerate the development of its Tayseer gas field in southern Oman, a report said. 'Tayseer is a very nice development, for which we are mobilising the early development facilities very quickly,' PDO managing director Raoul Restucci was quoted as saying in an Oman Observer report.

'We have done the exploration appraisal, and we are at the moment accelerating early development facilities.'

Kuwait Energy seeks financing

DUBAI: Kuwait Energy said it signed a forward sale agreement with Vitol providing it with a financing facility for up to $100 million.

The Kuwaiti oil and gas exploration and production company, with assets in Egypt, Iraq, Oman and Yemen, said it has received the first drawdown of $40 million on December 22, and that Vitol will be repaid via Iraqi crude entitled to Kuwait Energy. The agreement with Vitol will enable Kuwait Energy to continue with its production plans in Block 9 in Iraq by bringing more wells on stream and increasing output. $80 million of the proceeds will be spent on Block 9 development (in Iraq).