Energean eyes Adriatic Sea exploration off Montenegro
19 October 2017, 4:32pm
As a preview of Energean Oil & Gas SA’s estimated $5 million spend for 3D surveys and geological and geophysical studies in 2018, the company has reported that its two offshore Montenegro blocks could contain 1.8 tcf of natural gas and 144 million bbl of liquids, or a total of 438 million boe.
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BP's Chairman Carl-Henric Svanberg To Step Down
19 October 2017, 3:55pm
Carl-Henric Svanberg, BP Plc's (NYSE: BP) chairman who helped navigate the British company through the 2010 Deepwater Horizon oil spill, announced his intention to step down after nearly eight years in the post. BP rarely replaces both its chairman and CEO in close succession, so the decision means current CEO Bob Dudley, who also took office in 2010, is likely to remain in his position for some time yet, according to company sources. Svanberg will chair the annual general meeting to be held in May 2018 and will remain in his position until a successor is in the post, the company said in a statement.
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Fugro Secures Contract For Marine Site Investigation In Mexico
19 October 2017, 2:47pm
Fugro, in conjunction with long-time associates, Constructora Subacuática Diavaz SA de CV, said on Oct. 19 it has been awarded a large survey contract by Mexico’s national oil company, Pemex. The contract is valued at approximately US$10 million and covers work between August 2017 and December 2017.
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Enlightened Aluminium Solutions for Offshore and Marine
19 October 2017, 2:20pm
Just one third the weight of steel, yet strong and highly corrosion resistant, aluminium is perfect for marine and offshore application. Aluminium specialist Hydro extrudes lightweight, sustainable components for practically any marine or offshore use. And now the latest alloy, the 5083 series, offers even greater structural strength. To find out more, visit hydroextrusions.com/marine or […]
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Borr Drilling ready to list new shares on Oslo stock exchange
19 October 2017, 1:54pm
The Financial Supervisory Authority of Norway has approved the listing of new shares of Borr Drilling issued as part of a $650 million equity offering meant to partly finance the purchase of nine jack-up rigs.  To remind, Borr Drilling announced on October 9 that it offered up to 162,500,000 new shares, representing 51.5 percent of […]
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OEEC: Deep Dive into Digitalization
19 October 2017, 1:51pm
The tenth edition of Offshore Energy Exhibition and Conference held annually in Amsterdam is behind us. During the event held last week Offshore Energy Today live streamed four talk-shows and one interview for our online viewers both on Facebook and on Offshore Energy Today website, enabling them to feel the vibe of the exhibition floor […]
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Activists Set Talks With Chevron On Myanmar Rights Concerns
19 October 2017, 1:51pm
Shareholder activists will speak with Chevron Corp. next week to request the energy giant use its influence with the government of Myanmar to press for a resolution of ethnic violence that has led to a refugee crisis.
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Sinochem Taps Banks For Hong Kong IPO Of Oil Assets
19 October 2017, 1:30pm
China’s Sinochem Group has tapped three banks, including Morgan Stanley (NYSE: MS), to work on the possible Hong Kong listing of its key oil assets, as it seeks to raise capital and revive the company, said four people with knowledge of the matter. Citic Securities Co. Ltd. and BOC International Holdings Ltd. are also advising China’s fourth-largest oil company on the planned IPO, which will likely take place in the second half of 2018, the people said. No formal mandate for the IPO has been awarded yet, they said, adding preparations for the market float are at an early stage, and unlisted Sinochem has yet to decide the size of the IPO. The IPO plan also comes amid Beijing’s latest push to revive its bloated state-owned enterprise sector via the so-called mixed-ownership reforms by injecting private capital into state enterprises.
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Cenovus Agrees To C$1.3 Billion Asset Sale With Schlumberger, Torxen
19 October 2017, 1:20pm
Cenovus Energy Inc. (NYSE: CVE) said Oct. 19 it would sell its Palliser crude oil and natural gas assets in southeastern Alberta to Torxen Energy and Schlumberger Ltd. (NYSE: SLB) for C$1.3 billion ($1.04 billion) in cash to lower debt. The Calgary, Alberta-based company is using the cash to pay down a C$3.6 billion bridge loan it took to fund its $13.3 billion deal to buy oil sands and natural gas assets from ConocoPhillips Co. (NYSE: COP). Cenovus' ConocoPhillips deal more than doubled production to 588,000 barrels of oil equivalent per day, making Cenovus the third-biggest Canadian producer. But the purchase also made it a highly-leveraged company.
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South Africa Commits To Shale Gas Despite Adverse Court Ruling
19 October 2017, 1:17pm
South Africa’s mineral resources minister said Oct. 19 the government remains committed to shale gas exploration despite a court order revoking fracking regulations that pushes back plans to award the first exploration licenses by 2019. Farmers lobby AgriSA had said earlier that the High Court had issued an order quashing regulations governing proposed shale gas fracking in the Eastern Cape, one of the main areas where proposed shale gas exploration could take place. The ruling to quash the regulations marked the latest setback to South Africa’s shale gas ambitions after a scientific study published last month suggested its Karoo Basin probably has a fraction of estimated deposits, deflating expectations of an energy bonanza. However, Mineral Resources Minister Mosebenzi Zwane told Reuters the government could appeal the ruling and it was also considering a period of two years before any drilling started, taking into account various environmental and safety concerns.
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Financial, Security Woes Put Libyan Oil Recovery On Shaky Ground
19 October 2017, 1:13pm
Libya’s oil production revival is being undermined by the same financial, economic and security problems that threaten the promise of stability and a better life for the divided North African nation. Libya surprised many observers when it managed to raise its output fourfold to about 1 million barrels per day (MMbbl/d), boosting its only significant source of income. Continued disruptions by a range of local groups demanding a share of the revenues, as well as a lack of funds for maintenance and investment, are preventing the National Oil Corp. (NOC) from consolidating those gains, oil officials, engineers at the major fields and analysts say. NOC Chairman Mustafa Sanalla said last week that the corporation had only received a quarter of its 2017 budget, making a previously announced target of 1.25 MMbbl/d by the end of the year “very difficult” to achieve.
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OPEC Seeking Consensus On Oil Output Cut Extension Before Meeting, Barkindo Says
19 October 2017, 1:10pm
Oil producers are working to build consensus on extending their deal to reduce supplies, OPEC's secretary general said Oct. 19, with the potential for continuation throughout 2018 forming a basis for talks. OPEC, plus Russia and nine other producers, are cutting oil output by about 1.8 million barrels per day (bbl/d) until March 2018 in an attempt to eradicate a supply glut that has weighed on prices. The deal has supported prices, which are trading within sight of a two-year high, but an overhang of stored oil has yet to be fully eradicated and producers are considering extending the deal at their next meeting on Nov. 30.
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New gigs pour in for Rowan rigs
19 October 2017, 12:31pm
Offshore driller Rowan Companies has been awarded several new contracts and extensions for its jack-up rigs while some of its other rigs have recently come off contracts.  According to Rowan’s fleet status report on Thursday, the contract for the jack-up rig Rowan Norway with Repsol Sinopec in the UK ended on October 18, 2017, and the […]
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Rowan, Saudi Aramco launch offshore drilling JV ARO Drilling
19 October 2017, 11:23am
Offshore driller Rowan Companies has informed that ARO Drilling, a 50/50 joint venture with Saudi Aramco, started operations on October 17, 2017. The two companies announced an agreement to create the 50/50 joint venture to own, operate, and manage offshore drilling rigs in Saudi Arabia back in November 2016. Rowan committed to contribute three and Saudi Aramco […]
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Fugro lands site survey gig in Mexico
19 October 2017, 9:55am
Fugro, a Dutch provider of offshore and onshore geotechnical and survey services, has been awarded a new contract with the Mexican national oil company, Pemex.  The large survey contract was awarded to Fugro in conjunction with its long-time associate, Constructora Subacuática Diavaz, S.A. de C.V. Valued at approximately $10 million, the contract covers work between […]
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GALLERY: Aker Solutions marks the official start of Snefrid Nord work
19 October 2017, 8:45am
Norwegian oil services company Aker Solutions has marked the official start of operations on the Statoil-operated Snefrid Nord project in Norway.  According to Aker Solutions’ social media update on Wednesday, the company together with Statoil has marked the official production start for Snefrid Nord at its facilities in Sandnessjøen. The discovery, scheduled to come on stream in […]
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Semco Maritime prepares Noble jack-up for cold weather, enters winterization pact
19 October 2017, 7:27am
Project engineering company Semco Maritime has completed a winterization provisioning on a Noble Corp.-owned jack-up for future deployment to a cold-weather climate. The order follows an exclusive partnership agreement with offshore winterization supplier Advanced Mat Systems (AMS), Semco Maritime said on Thursday. The winterization work was completed at Semco Maritime’s Queens Dock facility at Invergordon, Scotland. […]
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Energean sees Montenegro as ‘sweet spot’ of untapped potential
19 October 2017, 7:20am
Greek oil company Energean Oil & Gas has informed that the first competent persons report (CPR) for its assets offshore Montenegro indicated 1.8 tcf of natural gas and 144 mmbbls of unrisked prospective resources. Energean said on Thursday that the CPR was compiled by Netherland Sewell & Associates, detailing the recoverable gas and liquids resource […]
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Solstad Farstad keeps ‘Far Sentinel’ busy till June 2020
19 October 2017, 7:14am
Norwegian offshore vessel owner Solstad Farstad has secured a contract extension for one of its vessels in the U.S. Gulf of Mexico. The Oslo-listed company on Thursday said the contract extension was secured for the construction support vessel Far Sentinel. The present contract with Blue Marine has been extended by approximately 18 months to June 2020 […]
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TechnipFMC snaps up Plexus’ wellhead business for jack-up applications
19 October 2017, 7:01am
Oil and gas services company TechnipFMC has reached an agreement with Plexus Holdings to acquire Plexus’ Wellhead exploration equipment and services business for jack-up applications. Plexus Holdings is a UK-based oil and gas engineering services business and owner of the proprietary POS-GRIP friction-grip method of wellhead engineering, TechnipFMC explained on Thursday that the acquisition of Plexus’ […]
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New CFO to join Woodside in December
19 October 2017, 6:58am
Australian energy giant Woodside has appointed a new chief financial officer (CFO), effective December 1, 2017. Woodside said in its 3Q 2017 financial report on Thursday that it appointed Sherry Duhe as the company’s new CFO. The company added that the appointment was subject to Duhe’s visa arrangements being finalized. The CFO position at Woodside […]
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Drydocks wins ‘best rig repair yard of the year’ accolade
19 October 2017, 6:57am
UAE’s Drydocks World has won the “Rig Repair Yard of the Year Award” at the 3rd Offshore Achievement Awards ceremony held in Dubai. The third edition of the Offshore Achievement Awards for the jack-up rig and liftboat industry took place on October 9, 2017, during the annual Offshore Jack-Up Middle East (OJME) conference in Dubai, […]
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‘Subsea industry veteran’ joins DOF Subsea in COO role
19 October 2017, 6:54am
Norwegian subsea firm DOF Subsea has appointed Raymond P. Semple as Chief Operating Officer (COO), effective October 23, 2017. As COO, Semple will have the entire operational responsibility for DOF Subsea on a strategic level, and be responsible for the company’s day-to-day operating activities, the subsea company said on Thursday. According to the statement, Semple, the […]
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Samsung Heavy Industries receives LNG FSRU order
19 October 2017, 6:47am
South Korean shipbuilder Samsung Heavy Industries (SHI) has won an order to build an LNG floating storage and regasification unit (FSRU) for KRW 250 billion ($221 million). SHI said on Thursday that the newbuild order for a 170,000 m3 LNG-FSRU was received from a consortium of Marubeni, Sojitz, and Pertamina. An LNG-FSRU is a specialized […]
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Woodside cuts production forecast on Wheatstone delays
19 October 2017, 6:39am
Australia’s Woodside has narrowed its full year production guidance following a later than expected Wheatstone start-up. Wheatstone, the giant multi-billion dollar LNG project began production in the second week of October. The start-up of the giant Chevron-operated LNG development had been planned for year-end 2016, only to be put off for mid-2017 in February 2016. Then […]
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Norway ramps up oil output in September but prognosis misses the mark
19 October 2017, 6:39am
Norway’s oil production in September this year was above the one produced in the country in the same period last year but below prognosis due to maintenance works on some fields, according to the Norwegian Petroleum Directorate (NPD).  The government agency reported on Thursday that preliminary production figures for September 2017 show an average daily […]
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Vocus connects Ichthys, Prelude to North-West Cable System
19 October 2017, 6:06am
Vocus Group, an Australian telecommunications company, has connected its high-speed fiber-optic North-West Cable System (NWCS) to the Inpex-operated Ichthys LNG Project and Shell’s Prelude FLNG located off the northwest coast of Australia. Vocus said that the North-West Cable System, recently constructed by Vocus in partnership with Shell and INPEX, comprises 2,100 kilometers of submarine cable […]
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Energean: Montenegro In 'Sweet Spot' Of Untapped Adriatic O&G Potential
19 October 2017, 12:00am
Two blocks offshore Montenegro awarded to Greece's Energean Oil & Gas are estimated to have 1.8 trillion cubic feet of recoverable natural gas reserves, Energean says.
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Iraq Turmoil Threatens Billions in Oil Traders' Kurd Deals
19 October 2017, 12:00am
The crisis unfolding around the Iraqi city of Kirkuk has left some of the world's largest commodity trading houses worried.
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Transocean Secures $106 Million Contract From BHP Billiton
18 October 2017, 8:33pm
Transocean Ltd. (NYSE: RIG) has been awarded a two-year contract with BHP Billiton (NYSE: BBL) worth $106 million for its ultradeepwater drillship Deepwater Invictus, the company said on Oct. 17. Additionally, Transocean won three one-year priced options with BHP Billiton.
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In Charts: Has The US Shale Drilling Revolution Peaked?
18 October 2017, 6:28pm
In the outlook for crude prices, a crucial factor is how far U.S. shale oil production can grow. The shale revolution has transformed global oil markets over the past decade, reversing the long decline in U.S. output, challenging OPEC’s influence and helping to trigger the plunge in prices that began in 2014. It has meant windfalls for oil consumers, and some painful adjustments for producers. The leap forward that made shale oil commercially viable for the first time was a revolution in productivity. EOG Resources Inc. (NYSE: EOG) and other pioneering companies worked out how to get oil to flow from wells at much higher rates than in the past, thanks to the application of improved techniques for horizontal drilling and hydraulic fracturing, and those productivity gains continued after the first breakthroughs.
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Rosneft signs agreements for five blocks in Kurdistan
18 October 2017, 5:46pm
Rosneft PJSC and the Kurdistan regional government (KRG) have signed production-sharing agreements for five blocks in the region.
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US Shale Industry To See Wave Of Investment, Total CEO Says
18 October 2017, 5:15pm
The U.S. shale industry will see another production surge in 2018 as producers have sharply ramped up bets against a fall in oil prices, major oil executives and bankers said in London on Oct. 18. Activity amongst small- and mid-sized producers is ahead of last year's pace, analysts said, and a sharp increase in output could undermine the recent rally that in September pushed benchmark Brent crude to levels not seen since mid-2015. Patrick Pouyanne, CEO of Total SA (NYSE: TOT), speaking at the Oil & Money conference in London, said he expected global oil demand to grow strongly again this year, by up to 1.6 million barrels per day (bbl/d).
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African Petroleum Seeks Arbitration Over Gambia Oil Dispute
18 October 2017, 5:11pm
African Petroleum Corp. has begun arbitration proceedings over Gambia's decision to strip the company of its rights to explore for oil in two offshore areas. The Norwegian-listed company said in a statement Oct. 18 that two wholly-owned subsidiaries had requested arbitration with the U.S.-based International Center for the Settlement of Investment Disputes "to protect its interests in the A1 and A4 licenses." License area blocks A1 and A4 are thought to contain up to 3 billion barrels of oil and lie next to licences in neighboring Senegal, where big discoveries have been made.
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EIA: US Crude Stockpiles Slump As Production Drops
18 October 2017, 5:05pm
U.S. crude oil inventories slumped last week as production fell sharply after Hurricane Nate hit the Gulf of Mexico, while refining rates were down sharply as autumn maintenance season ramped up, the Energy Information Administration (EIA) said Oct. 18. Despite the falloff in refining runs, gasoline and distillate stocks rose, surprising traders, causing oil prices to dip. "The recent hurricanes—Harvey, Irma and Nate—continue to have an outsized impact on the U.S. energy sector," said John Kilduff, partner at energy hedge fund Again Capital LLC in New York.
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Solar EOR Finds Way To The Middle East
18 October 2017, 4:27pm
As the era of easily accessible crude oil is coming to an end, Middle Eastern oil and gas producers are now focusing on developing unconventional resources to maintain current production output and meet the always-increasing demand for energy. To produce more heavy oil, Oman and Kuwait are increasingly adopting Enhanced Oil Recovery (EOR) techniques to facilitate heavy oil extraction and boost well productivity by up to 300%. These methods include gas and chemical injection, as well as thermal recovery. Heavy crude oil is characterized by high viscosity that makes it quite similar in texture to tar, and has traditionally been hard for oil operators to produce. For thermal EOR, oil companies worldwide burn two quadrillion British thermal units of gas yearly—the equivalent of 25% of all traded LNG—to fuel EOR operations.
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Ophir signs PSC for Equatorial Guinea offshore block
18 October 2017, 4:05pm
Ophir Energy PLC, Equatorial Guinea’s Ministry of Mines and Hydrocarbons, and the country’s national oil company GEPetrol have signed a production-sharing contract for Block EG-24 offshore Rio Muni.
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Emerson Buys E&P Software Provider Paradigm For $510 Million
18 October 2017, 3:00pm
In a bid to take the lead spot in E&P software services, Emerson (NYSE: EMR) said Oct. 16 it will pay more than half a billion dollars in a deal to buy global E&P technology company Paradigm. Emerson agreed to purchase Houston’s Paradigm for $510 million—a price the company said represents a multiple of 13 times Paradigm’s expected 2017 EBITDA. Emerson, based in St. Louis, said the acquisition will expand its upstream portfolio and create the largest provider of E&P software solutions—independent of oilfield services companies. The deal comes as the $3.6 billion E&P software market is down 10% from its 2015 peak, Emerson said. Wall Street rewarded the deal by boosting Emerson’s stock price by $1.04, or 1.6%, the day after the deal’s announcement to $65.48 per share.
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Petrobras output spikes in September
18 October 2017, 2:16pm
Brazilian oil giant Petrobras increased domestic oil and gas production in September compared to its output in August.  Petrobras informed on Wednesday that its total oil and natural gas production in September was 2.79 million barrels of oil equivalent per day (boed), with 2.68 million boed produced in Brazil and 106 thousand boed produced abroad. […]
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Ophir expands E. Guinea foothold ahead of Fortuna FID
18 October 2017, 12:03pm
Ophir Energy, a company developing the Fortuna FLNG project in the Block R, offshore Equatorial Guinea, is expanding its foothold in the West African country. The company has this week signed a new production sharing agreement for Block EG-24 offshore Rio Muni, Equatorial Guinea. According to the Equatorial Guinea authorities, the block EG-24 is one […]
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Ghana, Ivory Coast set to implement maritime border ruling
18 October 2017, 11:51am
Ghana and Ivory Coast have committed to ensure that the recent ruling by an international court on the maritime dispute between the two nations be smoothly implemented. To help achieve the implementation of the court ruling, the two countries have established a joint committee Joint Committee for the Implementation of the ITLOS judgement and indicated […]
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African Petroleum starts arbitration over Gambian licenses dispute
18 October 2017, 11:37am
Oslo-listed independent oil and gas company African Petroleum (AP) has started arbitration proceedings “to protect its interests” related to its licenses offshore The Gambia.  According to its statement on Wednesday, the company’s subsidiaries, African Petroleum Gambia Limited and APCL Gambia B.V have lodged Requests for Arbitration (RFA) documents with the International Centre for the Settlement […]
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Fairfield Nodal heads off Brazil for Libra survey
18 October 2017, 10:22am
Fairfield Nodal has set off for deeper waters to acquire and process high-resolution 3D marine seismic data for the Libra consortium off Brazil. The company said on Tuesday that the Libra project was Fairfield Nodal’s first such project offshore Brazil and that it would utilize the proprietary Z3000 ocean bottom node system. The Libra consortium […]
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Global Petroleum moves towards final award of Italian blocks
18 October 2017, 10:20am
Italian authorities have published the remaining two environmental decrees in relation to Global Petroleum’s four applications for offshore permits, marking the final administrative stage before granting the permits.  The new decrees relate to applications designated D 80 F.R-GP and D 81 F.R-GP while environmental decrees for D 82 F.R-GP and D 83 F.R-GP were published […]
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Shell director steps down amid Rio Tinto fraud allegations
18 October 2017, 9:48am
A director at the Anglo/Dutch oil major Royal Dutch Shell has stepped down following fraud allegations related to his previous post at Rio Tinto, a global mining group.  Shell said on Wednesday that Guy Elliott has stood down as a non-executive director of the company with immediate effect. Namely, according to BBC’s report on Wednesday, the […]
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Global Petroleum sees prospectivity increase offshore Namibia
18 October 2017, 8:58am
Oil and gas company Global Petroleum has seen an increase in the prospectivity of its acreage offshore Namibia following the completion of seismic data interpretation.  Global holds an 85% participating interest in Petroleum Exploration Licence No. 0029, covering offshore blocks 1910B and 2010A. The blocks are located in the Walvis Basin and cover 11,730 square […]
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RockRose buying Idemitsu Petroleum UK
18 October 2017, 8:33am
RockRose Energy has signed a deal to buy Idemitsu Petroleum UK and its assets in the UK North Sea. In a statement on Wednesday RockRose said the acquisition would be financed out of the existing facilities and cash resources of the company. Subject to the successful completion of the acquisition, RockRose will be taking over […]
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Norwegian oil firm brings online world’s first floating wind farm
18 October 2017, 7:09am
Norwegian oil and gas company, or in this context, energy company, Statoil, has brought online the world’s first floating offshore wind farm – the Hywind Scotland. According to Statoil, the wind farm, to be officially opened on Wednesday by the First Minister of Scotland, Nicola Sturgeon, has started to deliver electricity to the Scottish grid. The […]
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Energy XXI output remains curtailed in the aftermath of Hurricane Nate
18 October 2017, 7:06am
Houston-based oil company Energy XXI Gulf Coast has not sustained any significant damage due to Hurricane Nate but the company’s production at certain assets in the Gulf of Mexico remains reduced.  Due to Hurricane Nate’s course through the Gulf of Mexico, the company and third-party operators evacuated crews on October 5. The storm resulted in […]
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Regulator finds improvement points during Martin Linge FSO audit
18 October 2017, 7:00am
Norwegian offshore safety body, the Petroleum Safety Authority (PSA), has found one non-conformity and four improvement points during an audit of the Total-operated Martin Linge FSO project. The audit of Total E&P Norge AS and Knutsen NYK Offshore Tankers AS (KNOT)’s management of the working environment, emergency preparedness, and materials handling in the Martin Linge […]
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Encana Calls End to Permian Race as Focus Turns to Output
18 October 2017, 12:00am
Investors will focus on how profitably companies are able to produce from their current holdings, Suttles says.
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Kremlin Oil Major Piles Up Investments In Iraq's Kurdistan Amid Crisis
18 October 2017, 12:00am
Rosneft has agreed to invest $400 million in five oil blocks in Iraqi Kurdistan, increasing Moscow's exposure to the semi-autonomous region.
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Oil's Biggest Rigs Headed to Junkyard as Daily Losses Mount
18 October 2017, 12:00am
Transocean's recent move signals just how bleak the future looks for deepwater drilling.
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Financial, Security Woes Put Libyan Oil Recovery On Shaky Ground
18 October 2017, 12:00am
Libya's oil production revival is being undermined by the same financial, economic and security problems that threaten the promise of stability.
Read more... (source: www.rigzone.com)


Iraq's Pipeline Exports Slump After Clash With Kurds at Kirkuk
18 October 2017, 12:00am
Oil exports from northern Iraq dropped by more than half as production in the country's disputed Kirkuk province slumped for a second day.
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Total CEO: US Shale Oil Industry To See Wave Of Investment
18 October 2017, 12:00am
The US shale industry will see another production surge in 2018 as producers have sharply ramped up bets against a fall in oil prices, major oil executives and bankers say.
Read more... (source: www.rigzone.com)


Storm In Western Canada Disrupts Crude Oil Pipelines
18 October 2017, 12:00am
Two crude oil pipelines in western Canada were shut down on Wednesday after stormy weather caused power outages in parts of Alberta and Saskatchewan.
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Angola Is Not The Next Venezuela, State Oil Firm Says As It Cuts Debt
18 October 2017, 12:00am
Angola is not the next Venezuela, the head of state oil firm Sonangol says.
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African Petroleum Seeks Arbitration Over Gambia Oil Dispute
18 October 2017, 12:00am
African Petroleum Corp has begun arbitration proceedings over Gambia's decision to strip the company of its rights to explore for oil in two offshore areas.
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Oil Pares Gains Into Settlement; US Fuel Stockpiles Rise
18 October 2017, 12:00am
Oil prices settled slightly higher on Wednesday, with Brent touching three-week highs.
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LNG Producers Take Time To Relax Destination Clauses Despite Japan Ruling
18 October 2017, 12:00am
Global liquefied natural gas suppliers are taking time to revise destination clauses in supply contracts for Japanese buyers.
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Kinder Morgan 3Q Revenue Dips On Harvey Impact
18 October 2017, 12:00am
Kinder Morgan reports a 1.5% fall in quarterly revenue, partly due to the impact of Hurricane Harvey.
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America's Shale Gas Guru Seeks Buyers, Only Finds Partners
18 October 2017, 12:00am
The billionaire evangelist of US natural gas exports is finding himself having some surprising conversations these days.
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Saudi Oil Minister Says Full Aramco IPO Is on Track for 2018
18 October 2017, 12:00am
Saudi Arabia is still aiming to complete both international and domestic portions of the initial public offering of its state oil company.
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Republican Tactic Aims to Open Eastern Gulf, Arctic to Oil Rigs
18 October 2017, 12:00am
Congressional Republicans have found a way to use the federal budget to open the Arctic National Wildlife Refuge to oil drilling.
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Offshore expertise helping Norway in Barents Sea, official says
17 October 2017, 9:03pm
More than 5 decades of success off its coast farther south is helping Norway move ahead in seeking additional oil and gas resources in the Barents Sea, a government official indicated on Oct. 17.  
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Capline Owners Gauge Interest in Pipeline Reversal
17 October 2017, 12:00am
Marathon Pipe Line, Plains All American, BP may convert crude pipeline's flow from northbound to southbound.
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Emerson Expands Technology Footprint, Acquires Paradigm
17 October 2017, 12:00am
Emerson has agreed to acquire Paradigm, a leading provider of software solutions for the oil and gas industry.
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Oil Near $52 After Industry Data Shows Crude Stockpile Draw
17 October 2017, 12:00am
Oil was little changed after an industry report was said to show US crude stockpiles fell, while supplies of products gained.
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In controversy over Energy East demise, balance is elusive
16 October 2017, 4:31pm
In controversy following TransCanada PipeLines Ltd.'s scrapping of the planned Energy East Pipeline, balance is elusive.
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TransCanada kills Energy East crude line
16 October 2017, 4:21pm
TransCanada PipeLines Ltd. has ended plans for the Energy East Pipeline, which would have carried Alberta crude oil to the Atlantic, and the Eastern Mainline gas pipeline in Ontario.
Read more... (source: www.ogj.com)


Coyle to lead Ineos’ shale business
16 October 2017, 4:09pm
Ron Coyle will head Ineos AG’s shale business in time to oversee the drilling of its first UK gas wells.
Read more... (source: www.ogj.com)


OGJ Newsletter
16 October 2017, 5:00am
International news for oil and gas professionals
Read more... (source: www.ogj.com)


Lebanon bid round draws two bids, one consortium
13 October 2017, 7:24pm
Despite Lebanon’s intent to award four of five blocks in its inaugural offshore bid round, Energy and Water Minister Cesar Abi Khalil said the round had received two bids to operate the offshore gas blocks, according to the Lebanese local press, The Daily Star.
Read more... (source: www.ogj.com)


Chevron abandons Great Australian Bight exploration program
13 October 2017, 3:45pm
Chevron Corp. has decided to abandon its $400-million (Aus.) exploration drilling program in the Great Australian Bight (GAB) off South Australia.
Read more... (source: www.ogj.com)


US House Democrats strongly criticize proposed OCS policy changes
12 October 2017, 7:10pm
Proposed US House legislation to extend federal offshore oil and gas revenue sharing to four Mid-Atlantic coastal states and Alaska drew strong fire from a House Natural Resources subcommittee’s Democrats because it also would let the US Interior secretary schedule Outer Continental Shelf lease sales that are not part of an existing 5-year management program.
Read more... (source: www.ogj.com)


Tullow acquires four licenses in Ivory Coast
12 October 2017, 5:16pm
Tullow Oil PLC has acquired 90% stakes in four onshore blocks in Ivory Coast. State oil company Petroci holds the remaining 10%. The four blocks—CI518, CI519, CI301, and CI302—cover 5,035 sq km on the coast of Ivory Coast, mostly west of Abidjan.
Read more... (source: www.ogj.com)


Tullow to shoot 3D seismic survey offshore Jamaica
10 October 2017, 7:36pm
The Jamaican government has reported that Tullow Oil PLC will undertake a 3D seismic survey offshore the Caribbean island’s southern coast.
Read more... (source: www.ogj.com)


Lundin spuds Hufsa exploration well in southern Barents Sea
10 October 2017, 5:30pm
Lundin Norway AS, a wholly owned subsidiary of Lundin Petroleum AB, has spudded exploration well 7219/12-2 on the Hufsa prospect targeting multiple Jurassic and Triassic sandstone reservoirs.
Read more... (source: www.ogj.com)


Oranto Petroleum inks exploration deals for Uganda licenses
10 October 2017, 4:10pm
Oranto Petroleum Ltd. has signed two production-sharing agreements with Uganda’s Ministry of Energy and Mineral Development for the 410-sq-km Ngassa shallow and deepwater play of Lake Albert.
Read more... (source: www.ogj.com)


Statoil discovers oil in summer drilling campaign offshore UK
9 October 2017, 5:46pm
Statoil ASA has discovered 25-130 million bbl of oil in the Verbier sidetrack well in the outer Moray Firth on the UK Continental Shelf.
Read more... (source: www.ogj.com)


Eni looks to Crete to further East Mediterranean exploration
9 October 2017, 5:13pm
Italy’s Eni SPA is eyeing acreage near Crete as Greece works toward opening its offshore to oil and gas development. According to Greece’s Kathimerini web site, Eni is taking the likely step from its foothold on the neighboring Cypriot market to expand its scope in the southeastern Mediterranean and the Greek market.
Read more... (source: www.ogj.com)


Beach to acquire Origin's Lattice Energy offshoot
9 October 2017, 5:10pm
Beach Energy Ltd., Adelaide, has made a binding agreement with Sydney-based Origin Energy Ltd. to buy all the shares in Origin's wholly owned subsidiary Lattice Energy Ltd. for $1.585 billion (Aus.) on a cash and debt-free basis. Lattice is Origin's conventional oil and gas offshoot.
Read more... (source: www.ogj.com)


Total to study deep, ultradeep areas off Guinea
9 October 2017, 5:09pm
Total SA and the National Office of Petroleum of Guinea (ONAP) have signed a technical evaluation agreement to study some 55,000 sq km in deep and ultradeep areas offshore Guinea Conakry.
Read more... (source: www.ogj.com)


ExxonMobil, Petrobras headline Brazil's 14th bid round
9 October 2017, 4:58pm
ExxonMobil Corp. will partner with Brazilian state-owned Petroleo Brasileiro SA (Petrobras) on six exploration blocks in the Campos basin off Brazil.
Read more... (source: www.ogj.com)


Dallas Fed: 11th District oil, gas activity grew at slower pace in 3Q
9 October 2017, 4:57pm
Third-quarter oil and gas activity in the Eleventh Federal Reserve District encompassing Texas, southern New Mexico, and North Louisiana expanded for a sixth straight quarter, but growth slowed compared with the second quarter, according to the latest Federal Reserve Bank of Dallas Energy Survey of upstream industry executives in the region.
Read more... (source: www.ogj.com)


Zinke outlines strategy to make American energy more dominant
9 October 2017, 4:52pm
Politically motivated regulations need to be revoked and agencies across the federal government that make decisions affecting energy resource development need to work together more closely, US Interior Sec. Ryan Zinke said.
Read more... (source: www.ogj.com)


OGJ Newsletter
9 October 2017, 5:00am
International news for oil and gas professionals
Read more... (source: www.ogj.com)


ExxonMobil logs Turbot as fifth discovery off Guyana
5 October 2017, 7:45pm
With an additional well already planned for 2018, ExxonMobil Corp. has completed its Turbot-1 well in the southeastern portion of the Stabroek block, about 30 miles southeast of the Liza Phase 1 project. The Stena Carron, which spudded Turbot-1 on Aug. 14, is moving to the Ranger prospect.
Read more... (source: www.ogj.com)


Chevron picks up new permits offshore Western Australia
5 October 2017, 4:39pm
Chevron Australia Pty. Ltd., Perth, has acquired three exploration permits in the north Carnarvon basin offshore Western Australia.
Read more... (source: www.ogj.com)


Anadarko consolidates operational management structure
4 October 2017, 7:57pm
Anadarko Petroleum Corp., The Woodlands, Tex., is consolidating its management structure following operational changes that have come with $7.5 billion in noncore asset sales since 2015. The moves, which involve existing personnel, are effective immediately.
Read more... (source: www.ogj.com)


Gazprom Neft discovers offshore field in Okhotsk Sea
4 October 2017, 7:51pm
Pending a detailed assessment in mid-2018, Gazprom Neft has discovered a field that could contain as much as 255 million tonnes of oil equivalent.
Read more... (source: www.ogj.com)


Lukoil unit, NIOC eye collaboration
4 October 2017, 5:34pm
Lukoil-Engineering, wholly owned subsidiary of Lukoil Oil Co., and National Iranian Oil Co. signed a memorandum of understanding for joint subsurface studies.
Read more... (source: www.ogj.com)


Victoria Oil & Gas flows gas from Logbaba Well La-107 in Cameroon
2 October 2017, 5:22pm
Victoria Oil & Gas PLC, London, has placed the Logbaba Well La-107 in Cameroon on production after it was flow tested to a maximum rate of 54 MMcfd of gas on a 70/64-in. choke, with a stabilized flowing wellhead pressure of 2,951 psig.
Read more... (source: www.ogj.com)


CERI forecasts oil sands production growth through 2036
2 October 2017, 5:14pm
The Canadian Energy Research Institute (CERI) forecast continual growth in oil sands production to 2036 in its latest report on oil sands supply costs. The report also evaluated how greenhouse gas emission caps will affect future production rates.
Read more... (source: www.ogj.com)


Ultrasonic irradiation reduces Shengli heavy oil viscosity
2 October 2017, 4:53pm
Experiments using heavy crude oil samples from PetroChina's Shengli oil field show ultrasonic irradiation can reduce viscosity by up to 85%, enhancing oil recovery. Increasing production from the aging Shengli field is difficult because of its 90% water cut.
Read more... (source: www.ogj.com)


Guiana Shield tectonics influence hydrocarbon bearing compartments
2 October 2017, 4:40pm
Interpretations of magnetic anomolies, fracture-zone geometry, and continental-oceanic crust transitions frame the debate surrounding the tectonic opening of the Equatorial and South Atlantic Ocean.
Read more... (source: www.ogj.com)


Lebanon completes first offshore bid round, predicts initial discovery in 2019
2 October 2017, 7:38am
Lebanese officials will award four offshore blocks by year-end 2017 in the country's first attempt at developing its domestic oil and gas resources. Lebanon's path to offshore licensing has been delayed for 4 years but is now coming to fruition.
Read more... (source: www.ogj.com)


WoodMac forecasts stable non-OPEC decline rates through 2020
2 October 2017, 7:28am
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Read more... (source: www.ogj.com)


BHP Billiton slows progress of deepwater exploration offshore Trinidad and Tobago
2 October 2017, 7:05am
BHP Billiton has pushed back the second phase of its deepwater exploration offshore Trinidad and Tobago from this year's fourth quarter to first-quarter 2018 according to the Caribbean twin-island nation's Energy Minister Franklyn Khan.
Read more... (source: www.ogj.com)


Lundin offshoot IPC to buy Cenovus's assets in Alberta
2 October 2017, 6:56am
A wholly owned subsidiary of Vancouver-based International Petroleum Corp. (IPC), the non-Norwegian spinoff of Lundin Petroleum AB, has agreed to acquire Cenovus Energy Inc.'s interests in the Suffield and Alderson conventional oil and gas areas of southern Alberta for $512 million (Can.).
Read more... (source: www.ogj.com)


Horizon acquires conventional gas concessions in Poland
2 October 2017, 6:21am
Horizon Petroleum Ltd. will target undeveloped conventional natural gas discoveries in two concessions in Poland's Rotliegendes basin and its Carpathian foldbelt. The Cieszyn and Bielsko-Biala concessions cover a combined 3,030 sq km.
Read more... (source: www.ogj.com)


Mancos shale improves San Juan basin prospectivity
2 October 2017, 6:20am
Despite numerous false starts, the Mancos shale in northwest New Mexico has potential to compete with some Permian assets to its south. The Gallup sandstone has maintained productivity in recent years in northern New Mexico.
Read more... (source: www.ogj.com)


Desperation helps pact to limit oil output stay intact
2 October 2017, 5:58am
Although production restraint has proven slower than hoped by its sponsors at balancing an oversupplied oil market, late-2016 agreements are making history.
Read more... (source: www.ogj.com)


Louisiana's industry crisis
2 October 2017, 5:49am
An indispensable state for US oil and gas operations continues to disappear at an alarming rate.
Read more... (source: www.ogj.com)


OGJ Newsletter
2 October 2017, 5:00am
International news for oil and gas professionals
Read more... (source: www.ogj.com)


Canada’s NEB assesses marketable oil, gas in Alberta’s Duvernay shale
29 September 2017, 5:48pm
Canada’s National Energy Board estimates in-place 3.4 billion bbl of marketable light oil in Alberta’s Duvernay shale, which covers nearly 20% of the province from just below Grande Prairie to just north of Calgary and east of Edmonton.
Read more... (source: www.ogj.com)


Karoon Gas gains block in Brazil’s latest bid round
29 September 2017, 2:44pm
Karoon Gas Australia Ltd., Melbourne, has successfully bid for a 171-sq-km offshore block in the Santos basin just south of Rio de Janeiro. The award comes as part of Brazil’s 14th bid round.
Read more... (source: www.ogj.com)


ExxonMobil, Petrobras headline Brazil’s 14th bid round
28 September 2017, 7:34pm
ExxonMobil Corp. will partner with Brazilian state-owned Petroleo Brasileiro SA (Petrobras) on six exploration blocks in the Campos basin off Brazil.
Read more... (source: www.ogj.com)


Mexico reforms may make US offshore industries look south, Luthi says
27 September 2017, 9:27pm
Mexico’s continuing energy reforms could make US offshore oil and gas producers consider leasing there if more of the US Outer Continental Shelf is not opened for exploration and development, National Ocean Industries Association Pres. Randall B. Luthi told a Washington audience on Sept. 27.
Read more... (source: www.ogj.com)


Eni’s Mizton-2 well boosts Mexico’s Area 1 resource potential
26 September 2017, 4:19pm
Eni SPA has increased the estimated resource in place for Mexico’s Contractual Area 1 to 1.4 billion boe after its Mizton-2 well in Campeche Bay encountered 185 m of net oil pay in the Orca formation.
Read more... (source: www.ogj.com)


Sri Lanka develops strategic plan for oil and gas
26 September 2017, 4:15pm
Sri Lanka plans to move forward with a strategic oil and gas exploration and development plan.
Read more... (source: www.ogj.com)


Metgasco farms into Cooper basin well
26 September 2017, 4:11pm
Metgasco Ltd., Sydney, has made an agreement with Adelaide companies Senex Energy Ltd. and Cooper Energy Ltd. to farm in to area surrounding the current Frey-1 wildcat within PEL93 of the South Australian Cooper basin for a 20% working interest.
Read more... (source: www.ogj.com)


IHS Markit: Permian still has 60-70 billion bbl of recoverable resources
25 September 2017, 5:37pm
The Permian basin still holds an estimated 60-70 million bbl of technically recoverable resources, according to IHS Markit research.
Read more... (source: www.ogj.com)


Logs confirm Xanadu discovery in north Perth basin
25 September 2017, 4:25pm
Wireline logs have confirmed last week’s oil discovery at the Norwest Energy Ltd. group’s Xanadu-1 wildcat in inshore permit TP/15 in the north Perth basin offshore Western Australia.
Read more... (source: www.ogj.com)


Tullow expects TEN development drilling off Ghana to restart by yearend
25 September 2017, 3:33pm
In the aftermath of resolution of a maritime boundary dispute between Ghana and Ivory Coast, Tullow Oil PLC said it will work with Ghana on permits to restart development drilling in the offshore TEN fields. The company expects to resume drilling around the end of the year.
Read more... (source: www.ogj.com)


BP, Bridas to merge PAE, Axion, creating integrated Argentina firm
25 September 2017, 6:12am
BP PLC and Bridas Corp., Buenos Aires, have agreed to merge their interests in oil and gas producer Pan American Energy LLC (PAE) and refiner and marketer Axion Energy Argentina SA in a cash-free deal, forming the privately owned, integrated Pan American Energy Group (PAEG).
Read more... (source: www.ogj.com)


Brookings: Curbing corruption in extractive industry takes more than disclosure
25 September 2017, 6:03am
Reducing government corruption will require more than simply requiring companies, particularly in extractive industries, to publicly disclose more financial and operating data, speakers agreed at a Sept. 18 Brookings Institution event. Information should be more readily available and reach people in communities that are directly affected, they said.
Read more... (source: www.ogj.com)


WoodMac: Permian basin production growth could slow early next decade
25 September 2017, 5:50am
Operators implemented technology to rapidly increase Permian basin production and they are poised to continue increasing Permian production.
Read more... (source: www.ogj.com)


OGJ Newsletter
25 September 2017, 5:00am
International news for oil and gas professionals
Read more... (source: www.ogj.com)


SDX launches Morocco drilling campaign, updates Egypt operations
21 September 2017, 6:03pm
SDX Energy Inc. seeks to increase its Moroccan gas sales volumes by as much as 50% and its reserves by more than 100% with its nine-well drilling campaign in the Sebou, Gharb Centre, and Lall Mimouna permits.
Read more... (source: www.ogj.com)


Sherritt resumes Cuban drilling after storm
21 September 2017, 5:57pm
Sherritt International Corp., Toronto, has resumed drilling of a key exploration well in Cuba after an interruption caused by Hurricane Irma.
Read more... (source: www.ogj.com)


Horizon acquires conventional gas concessions in Poland
21 September 2017, 5:39pm
Horizon Petroleum Ltd. will target undeveloped conventional natural gas discoveries in two concessions in Poland’s Rotliegendes basin and its Carpathian foldbelt. The Cieszyn and Bielsko-Biala concessions cover a combined 3,030 sq km.
Read more... (source: www.ogj.com)


Pertamina to drill 9,000-ft well in Poleng field in Java Sea
21 September 2017, 3:17pm
PT Pertamina EP said it expects to take 45 days to drill a 9,000-ft well in Poleng field in the Java Sea.
Read more... (source: www.ogj.com)


BHP Billiton slows progress of deepwater exploration off Trinidad and Tobago
20 September 2017, 4:29pm
BHP Billiton Ltd. has pushed back the second phase of its deepwater exploration offshore Trinidad and Tobago from this year’s fourth quarter to first-quarter 2018 according to the Caribbean twin-island nation’s Energy Minister Franklyn Khan.
Read more... (source: www.ogj.com)


Jack up rig arrives for Pasca A-4 appraisal in Gulf of Papua
18 September 2017, 5:29pm
China Oilfield Services Ltd.’s COSL Seeker jack up rig was offloaded in Port Moresby harbor during the weekend and is now heading for Perth company Twinza Oil Ltd.’s Pasca A-4 appraisal drilling location in the Gulf of Papua.
Read more... (source: www.ogj.com)


Norwest Energy makes oil discovery at Xanadu
18 September 2017, 5:02pm
Norwest Energy Ltd., Perth, has made and oil discovery in its shallow-water Xanadu-1 wildcat drilled in the north Perth basin offshore Western Australia.
Read more... (source: www.ogj.com)


OMV’s Wisting appraisal well in Barents finds 55-m oil column
18 September 2017, 2:58pm
An appraisal well drilled 2 km south of the Wisting oil discovery made in 2013 in the Barents Sea found a 55-m oil column, according to the Norwegian Petroleum Directorate (NPD).
Read more... (source: www.ogj.com)


OGJ Newsletter
18 September 2017, 5:00am
International news for oil and gas professionals
Read more... (source: www.ogj.com)


Inpex to acquire 40% in Barents Sea exploration license
15 September 2017, 4:16pm
Inpex Corp., Tokyo, said it will acquire a 40% interest in exploration license PL767 in the western Barents Sea offshore Norway from Bayerngas Norge AS.
Read more... (source: www.ogj.com)


DGR Global joins Armour in Uganda
14 September 2017, 5:26pm
DGR Global Ltd., Brisbane, has made an agreement with fellow explorer Armour Energy Ltd., also of Brisbane, to take part in Armour’s application for the Kanywataba block at the southern end of Lake Albert in Uganda.
Read more... (source: www.ogj.com)


NZOG receives rival bid against Zeta takeover offer
13 September 2017, 3:57pm
A rival bidder to Zeta Energy Pte. Ltd. for the takeover of New Zealand Oil & Gas Ltd. (NZOG) has emerged in the form of OG Oil & Gas Ltd. (OGOG), a subsidiary of the Monaco shipping company Ofer Global Group.
Read more... (source: www.ogj.com)


Origin Energy unit acquires Benaris’ stake in Otway gas project
13 September 2017, 3:50pm
Origin Energy Ltd., Sydney, on behalf of its oil and gas subsidiary Lattice Energy, has acquired Benaris International’s 28% interest in the Otway gas project offshore Tasmania and Victoria for $250 million (Aus.).
Read more... (source: www.ogj.com)


Block Energy focuses on Georgian oil and gas
12 September 2017, 3:46pm
Block Energy PLC, London, has agreed to sell gold-mining subsidiary Antubia Resources Ltd. and will concentrate on oil and gas development in the Republic of Georgia.
Read more... (source: www.ogj.com)


LLOG advances Buckskin project in deepwater US gulf
11 September 2017, 5:29pm
LLOG Exploration Co. LLC has let a contract to Seadrill Ltd. for the West Neptune drilling rig to drill and complete two wells as part of development of the Buckskin project in the deepwater Gulf of Mexico.
Read more... (source: www.ogj.com)


Oman opens 2017 licensing round
11 September 2017, 5:13pm
Oman’s Ministry of Oil & Gas has opened 10 blocks to be tendered over the next several years. Bidding starts Sept. 20 for Blocks 43B, 47, 51, and 65. The ministry deployed a living data room in 2016, making high-quality raw data available via its web interface.
Read more... (source: www.ogj.com)


Kuwait okays oil field work with Iraq
11 September 2017, 5:06pm
The government of Kuwait has moved toward development of four border oil fields in cooperation with the government of Iraq.
Read more... (source: www.ogj.com)


Lebanon extends offshore bid round deadline
11 September 2017, 4:58pm
At the request of the Lebanese Petroleum Administration (LPA), Energy and Water Minister Cesar Abi Khalil has extended to Oct. 12 the deadline for the country’s first oil and gas bidding round from the original Sept. 15 deadline.
Read more... (source: www.ogj.com)


Eni, partners contract drillship for deepwater Morocco permit
11 September 2017, 4:10pm
Eni SPA has signed a contract for the deepwater drillship Saipem 12000 to drill the exploratory RD-1 well in Morocco’s Rabat Deep offshore permit, announced partner Chariot Oil & Gas Ltd. The well will target the Jurassic carbonate JP-1 prospect.
Read more... (source: www.ogj.com)


OGJ Newsletter
11 September 2017, 5:00am
International news for oil and gas professionals
Read more... (source: www.ogj.com)


GeoPark makes oil discovery in Colombia
8 September 2017, 6:31pm
After adding its third new oil field this year, GeoPark Ltd. plans to drill seven wells on the Llanos 34 block during this year’s third quarter to further delineate southern Jacana and northern Tigana oil fields.
Read more... (source: www.ogj.com)


Energean’s western Greece Katakolon field development plan approved
8 September 2017, 5:23pm
Pending 2018 approval of its environmental and social impact assessment, Energean Oil & Gas will take a final investment decision on its Katakolon field development with drilling and production commencing in 2019 and 2020, respectively.
Read more... (source: www.ogj.com)


DNO takes on third operating license in Kurdistan region
8 September 2017, 4:05pm
DNO ASA, Oslo, will drill two large, undrilled structures on the Baeshiqa license in Kurdistan in the first half of 2018, pending Kurdistan government approval.
Read more... (source: www.ogj.com)


Oil & Gas UK: Report cites need for offshore ‘investment boost’
7 September 2017, 2:15pm
Oil & Gas UK is hoping the UK Continental Shelf will get “a badly needed investment boost” as a result of almost $6-billion worth of mergers and acquisitions in this year’s first half.
Read more... (source: www.ogj.com)


Statoil increases frontier acreage in South Africa
7 September 2017, 1:58pm
Statoil ASA, in two transactions, has ramped up its offshore participation in South Africa. The operator acquired 35% interest in the 12/3/252 Transkei-Algoa Exploration Right from ExxonMobil Exploration & Production South Africa Ltd.
Read more... (source: www.ogj.com)


BLM begins protest periods for two sets of proposed leases in Utah
6 September 2017, 4:30pm
The US Bureau of Land Management’s Utah state office said on Sept. 1 that it will accept protests through Oct. 2 of two sets of oil and gas leases it plans to offer as part of its quarterly online lease sale on Dec. 12. The proposed tracts were prepared by its Vernal and Price field offices.
Read more... (source: www.ogj.com)


Centrica lets contract for Fogelberg appraisal in 2018
5 September 2017, 5:24pm
Centrica PLC has let a drilling contract to Island Drilling Co. AS for an appraisal well in 2018 at the 2010 Fogelberg natural gas discovery in the Haltenbanken area of the Norwegian Sea.  
Read more... (source: www.ogj.com)


CNOOC signs PSC with SK Innovation for South China Sea block
5 September 2017, 4:23pm
China National Offshore Oil Corp. signed a production-sharing contract with SK Innovation Co. Ltd., Seoul, for Block 17/08 in the South China Sea.
Read more... (source: www.ogj.com)


BOEM releases 1.4-billion-pixel Gulf of Mexico bathymetry map
5 September 2017, 6:29am
The Bureau of Ocean Energy Management (BOEM) has combined 117 of its highest quality seafloor horizons to develop a 1.4-billion-pixel bathymetry map of the US Gulf of Mexico seafloor.
Read more... (source: www.ogj.com)


Getting the 'fair share'
5 September 2017, 3:51am
Global upstream investment is still at a low ebb, while exploration companies working on conventional projects are beginning to cautiously seek new investment opportunities. Wood Mackenzie Ltd. forecasts the investment cycle will show the first signs of growth in 2017 since 2014 and final investment decisions will double compared with 2016.
Read more... (source: www.ogj.com)


Putting resilience to the test
4 September 2017, 7:19am
Resilience entered the US national policy vocabulary in April 2015 when the first US Quadrennial Energy Review identified deficiencies in oil, gas, and electricity transportation, storage, and distribution systems that emerged in Hurricane Katrina’s wake nearly 10 years earlier.
Read more... (source: www.ogj.com)


New drilling fluids minimize damage in Tarim basin
4 September 2017, 6:57am
PetroChina Tarim Oilfield Co. worked with Southwest Petroleum University researchers to test new drilling fluid technology designed to prevent formation damage for ultradeep fractured tight sandstone gas reservoirs.
Read more... (source: www.ogj.com)


New process detects S-wave data in legacy, land-based P-sourced seismic libraries
4 September 2017, 6:38am
A common geoscientific misconception is that land-based shear-wave (S-wave) seismic data accounts for only a small percentage of the total amount of compressional-wave (P-wave) data acquired in historical seismic surveys.
Read more... (source: www.ogj.com)


New SEG president links economics to decisions about geophysical work
4 September 2017, 6:01am
Communicating the economic value of seismic data can be challenging, observes career geophysicist Nancy J. House, who has an advantage in this area.
Read more... (source: www.ogj.com)


TAEP: Texas upstream economy expands for eighth straight month
4 September 2017, 5:49am
The Texas upstream oil and gas economy grew in July for an eighth consecutive month after contracting during the previous 24 straight months.
Read more... (source: www.ogj.com)


Latest Barents Sea gas discovery not the 'direct hit' Statoil expected
4 September 2017, 5:45am
Despite the success of its Kayak discovery and traces of oil in the Gemini North, Statoil ASA says its latest Korpfjell well in PL859 came in as a noncommercial gas discovery (OGJ Online, July 5, 2017). Jez Averty, Statoil's head of exploration in Norway and the UK, said, "We have so far not had a direct hit that may result in a new standalone field development."
Read more... (source: www.ogj.com)


OGJ100 posts lower revenue, capital expenditures in 2016
4 September 2017, 5:25am
Oil & Gas Journal's look at the leading 100 oil and gas producing companies based outside the US allows for comparison of the size and results of the entities for which financial results and production and reserves data are available.
Read more... (source: www.ogj.com)


OGJ150 reported smaller losses in 2016; revenues, spending down
4 September 2017, 5:19am
The OGJ150 group of US oil and gas producers collectively posted 2016 full-year net losses of $47.66 billion on revenues of $477.6 billion compared with net losses of $141 billion in 2015 on revenues of $584.5 billion.
Read more... (source: www.ogj.com)


OGJ Newsletter
4 September 2017, 5:00am
International news for oil and gas professionals
Read more... (source: www.ogj.com)


Botswana government awards CBM gas-to-power tender
1 September 2017, 4:27pm
Tlou Energy Ltd., Brisbane, will move ahead on coalbed methane development on the 900-sq-km prospecting license 002/2004 in western Botswana, South Africa. The Ministry of Mineral Resources, Green Technology, and Energy Security granted the company a 25-year mining license to terminate in August 2042.
Read more... (source: www.ogj.com)


Cooper moves forward on Sole gas field off Australia
1 September 2017, 2:47pm
Cooper Energy Ltd. will deliver gas sales of 4 MMboe/year, which is four times the company’s 2017 production, on the heels of taking a financial investment decision for its Sole natural gas field development in eastern Bass Strait offshore Victoria in southeastern Australia.  
Read more... (source: www.ogj.com)


Eni units, Nord Stream unit let contracts to Saipem
1 September 2017, 2:38pm
Saipem SPA has booked three contracts with a combined value of $370 million. The company’s E&C Offshore division will construct and install deepwater umbilicals, risers, and flowlines for the development of Block 15/06 for Eni Angola SPA’s West Hub development project 350 km northwest of Luanda and 130 km west of Soyo.
Read more... (source: www.ogj.com)


CGG to shoot seismic for Zambezi Delta off Mozambique
31 August 2017, 5:48pm
Following the competitive tender process held by Mozambique’s Instituto Nacional de Petroleo (INP) in 2016, CGG has been selected to acquire a multiclient survey of as much as 40,000 sq km of 3D seismic over the offshore Beira High in the Zambezi Delta.
Read more... (source: www.ogj.com)


Lundin attempts third Loppa High discovery
31 August 2017, 5:17pm
Lundin Petroleum AB hopes to follow the success of its recent Loppa High, southern Barents Sea Alta and Neiden discoveries with the Borslev prospect in PL609.
Read more... (source: www.ogj.com)



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