KrisEnergy, Cambodia sign agreements for Gulf of Thailand oil development
23 August 2017, 5:06pm
The Cambodian government and KrisEnergy Ltd. have signed fiscal and technical agreements after 3 years of negotiating for the nation’s first oil field development in Cambodia Block A in the Gulf of Thailand.  
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Cairn Energy upgrades offshore Senegal oil resources
23 August 2017, 3:31pm
Cairn Energy Ltd. has increased its estimate of recoverable resources in SNE oil field offshore Senegal.  
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US Crude Inventories Fall To January 2016 Low, EIA Says
23 August 2017, 3:15pm
U.S. crude oil stocks last week fell for an eighth consecutive week to their lowest since January 2016, while gasoline stocks declined more than anticipated, the Energy Information Administration (EIA) said Aug. 23. Crude inventories fell 3.3 million barrels (bbl) in the week ending Aug. 18, largely in line with expectations for a decrease of 3.5 million bbl. Overall U.S. crude stocks fell to 463.2 million bbl, a 14% drop from the peak of 535.5 million bbl at the end of March. Oil prices have recovered from June lows as world supplies have started to tighten, in part due to efforts by OPEC, along with non-OPEC members, to pull back on production. The group agreed to cut supply by a combined 1.8 million bbl/d in a deal that extends to March of next year.
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DOF Subsea Secures Vessel Utilization With Several Contract Awards
23 August 2017, 3:07pm
DOF Subsea has been awarded several contracts securing utilization for several vessels in the Subsea IMR Projects segment. In the Asia Pacific area and the Atlantic, DOF Subsea has been awarded several contracts and work under existing frame agreements, securing utilization of the vessels Skandi Singapore, Skandi Hercules and Skandi Neptune in the third-quarter and into the fourth-quarter of 2017.
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BHP Billiton Replaces Two Directors In Board Shake-up
23 August 2017, 2:35pm
Global miner BHP Billiton unveiled a board shake-up where controversial director Grant King will step down just six months after his appointment with the company amid oil investments concerns, BHP said on Aug. 23. King, former CEO of Origin Energy, was once tipped to succeed Jac Nasser as chairman of the world's biggest mining company, but was passed over earlier this year for fellow board member Ken MacKenzie. "Owing to concerns expressed by some investors, Grant King has decided that he will not stand for election at the 2017 annual general meetings of BHP and will retire from the board on August 31," Nasser said.
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Chieftain: Indigenous People Seize Some Facilities On Peru Oil Field
23 August 2017, 2:28pm
Indigenous people living on Peru's largest oil field concession have seized some facilities operated by Frontera Energy Corp demanding that the government apply an indigenous rights law before signing a new contract with the Canadian company, a tribal chieftain said on Aug. 22.
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Shell Starts Gas Production At Expanded Nigeria Project
23 August 2017, 2:21pm
Royal Dutch Shell has started gas production from the second phase of the Gbaran-Ubie project in Nigeria's Niger Delta, the company said on Aug. 23.
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US Gulf Coast Refiners, Producers Brace For Tropical Storm Harvey
23 August 2017, 2:05pm
Oil and gas producers from Mexico to Louisiana are gearing up for heavy rains and winds this week as remnants of a tropical storm circulating over Mexico's Yucatan Peninsula threaten to redevelop into a cyclone. The remains of Tropical Storm Harvey, which are scattered over Mexico, have a 90% chance of developing into a cyclone over the next two days, the National Hurricane Center (NHC) said Aug. 22. A tropical depression could form over the Bay of Campeche, which is close to 80% of Mexico's oil and gas production, on Aug. 23-24 and grind toward the Texas coast on Aug. 25, the Miami-based center added.
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Kosmos Reports Positive Tortue Drillstem Test Results
23 August 2017, 1:36pm
Kosmos Energy, partnered with BP Africa, plan to produce gas off Mauritania coast after a test drill showed that a key field would produce about 60 million cubic feet per day (MMcf/d) of gas. Oil and gas producer, Kosmos, claimed the well’s key development parameters includes well deliverability, reservoir connectivity, and fluid composition and that the well is capable of producing about 200 MMcf/d of gas once fully operational.
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Premier To Sell Stake In British Onshore Field For $200 Million
23 August 2017, 1:05pm
North-Sea focused Premier Oil Plc has agreed to sell its stake in British onshore oil field Wytch Farm for $200 million to an undisclosed buyer, the company said Aug. 22. The deal also includes letters of credit worth around $75 million related to future field abandonment liabilities, Premier Oil said. Debtwire reported on Aug. 22 the sale had been struck with Verus Petroleum UK Ltd. Verus was not immediately available for comment.
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Colombia Plans To Uncover Unconventional Shale Prospects
23 August 2017, 1:00pm
South America boasts plenty unconventional prospects for local and foreign players to develop over the coming years, by some estimates, shale resources may amount to four times Colombia’s total reserves. Ecopetrol (NYSE: EC), Colombia’s state-oil company, recently revealed its plans to focus on shale exploration in their most prolific region, Magdalena Medio. The Cretaceous Luna and Tablazo Formations there converge and are estimated to hold 30 billion barrels of oil equivalent (Bboe). Former president Juan Carlos Echeverry said Ecopetrol estimates that there is between 2.5 billion to 7 billion recoverable barrels in the region, if not more. “After the U.S. and Argentina’s Vaca Muerta, our unconventional play seems to be the most substantial in the Western Hemisphere. We won’t know until we drill,” said Echeverry. The Energy Information Administration commissioned Advanced Resources International to undertake a thorough study of Colombia’s unconventional potential back in 2013. Back then, the study put the La Luna and Tablazo shales at 18 trillion cubic feet (Tcf) and 4.6 billion barrels (Bbbl) of risked, technically recoverable, shale gas and oil. As for unrisked resources, the figures grew to an exponential 135 Tcf and 79 Bbbl, which is only the Magdalena Medio Valley.
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Oil Prices Fall As Concern Grows Over Rising Libyan Output
23 August 2017, 12:55pm
Oil prices fell on Aug. 23, weighed down by concerns about rising production from Libya feeding into an oversupplied market and a surprise increase in U.S. gasoline inventories. Benchmark Brent crude futures were down 27 cents at $51.60 a barrel (bbl) at 4:50 a.m. CST (9:50 GMT). U.S. West Texas Intermediate crude futures were trading at $47.67/bbl, down 16 cents. Production from Libya's Sharara oil field, the conflict-riven country's largest, has been seesawing. The field remained shut on Aug. 23, two Libyan oil sources told Reuters. The field had restarted at least once on Aug. 22 amid conflicting reports about whether it had reopened.
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Well-Safe Solutions brings in two more directors
23 August 2017, 12:05pm
Well-Safe Solutions, a specialist well abandonment company, has announced the appointment of two more directors to lead the recently launched business. Following the company’s recent announcement of the company’s first acquisition and appointment of chief executive officer Phil Milton, Well-Safe on Wednesday said said it bolstered its team with the appointments of Graeme Murray as legal […]
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When Oil, Gas Portfolio Optimization Goes Too Far
23 August 2017, 11:02am
A key expected strategy for surviving in a “lower-for-longer” price environment is portfolio optimization, shedding assets that do not fit a specific geographic strength, technical capability or risk profile. During the recent downturn, many oil companies migrated from cost reduction to portfolio rationalization. Several companies even optimized to the point of a single-basin focus, consolidating drilling activity to reduce costs, most often by retreating to the predictable returns available in onshore unconventionals. But with the downturn now in its fourth year, it might be time to begin rethinking the upstream portfolio—this time with an eye toward optimizing for growth and consistent cash returns. Divesting higher-risk assets was a smart move for many companies when prices fell quickly. But history shows us that prices are unpredictable. If prices were to rise over the next 10 years—perhaps due to geopolitical issues or even an unexpected increase in global demand—it makes sense to have a broader reserve base available for E&P.
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NAO fingers crossed for higher dayrates
23 August 2017, 9:36am
Nordic American Offshore, an offshore vessel owner, is seeing signs of improvement in the platform supply vessel market conditions, and the company hopes that going forward the dayrates will grow further. Herbjørn Hansson, Executive Chairman of NAO said this week the company had in July secured a medium term employment for one of its vessels, […]
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GSP Uranus rig starts drilling for OMV Petrom
23 August 2017, 8:46am
OMV Petrom has started drilling operations in the Black Sea, offshore Romania, using GSP’s Uranus jack-up drilling rig. The news was shared by GSP who said the rig move had begun on August 19th, 17:00, with the jack-up reaching the work location the following day. The rig moving and positioning operations were carried out with the support […]
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Eni gets nod to drill Barents Sea well using Scarabeo 8 rig
23 August 2017, 8:40am
Norway’s offshore safety agency, the Petroleum Safety Authority (PSA), has given Eni Norge a consent to drill an exploration well in the Barents Sea using the Scarabeo 8 drilling rig. According to the PSA’s statement on Wednesday, the Norwegian entity of Italian oil major Eni, Eni Norge, applied for consent to drill an exploration well […]
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EnQuest lowers oil output forecast amid Kraken FPSO issues
23 August 2017, 8:17am
UK oil and gas company EnQuest has downgraded its full year oil production forecast amid topside commissioning delays with the Armada Kraken FPSO in the Kraken field, offshore the UK. The Kraken is a large heavy oil accumulation in the UK North Sea, located in the East Shetland basin, to the west of the North […]
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Eni needs more room on Goliat
23 August 2017, 8:07am
Eni Norge, a Norwegian subsidiary of the Italian oil company Eni, has been given consent from the Petroleum Safety Authority (PSA) to use the Floatel Endurance accommodation rig on the Goliat field in the Barents Sea. Due to the extra work on the Goliat field, Eni requires more cabin capacity, and has therefore applied to […]
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Kosmos confirms Tortue field as ‘world-class resource’
23 August 2017, 7:18am
Kosmos Energy has completed the drill stem test (DST) of the Tortue-1 well, demonstrating that the Tortue field offshore Mauritania is a world-class resource. The DST also confirmed key development parameters including well deliverability, reservoir connectivity, and fluid composition, the company said on Wednesday. Kosmos informed that the Tortue-1 well flowed at a sustained, equipment-constrained […]
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Empyrean completes seismic survey off China
23 August 2017, 7:10am
London-listed oil and gas company Empyrean Energy has completed 3D seismic data acquisition in Block 29/11 offshore China. Block 29/11 is approximately 1,800 square kilometers and is situated approximately 200 kilometers off Hong Kong in water depths ranging from 340-600 meters. Empyrean, a company with interests in China, Indonesia, and the United States, has a […]
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DOF Subsea secures work for five vessels
23 August 2017, 6:59am
Subsea services provider DOF Subsea has been awarded several contracts, securing utilization for five vessels in the subsea inspection, maintenance, and repair (IMR) projects segment. DOF Subsea said on Wednesday that the company was awarded several contracts and work under existing frame agreements in the Asia Pacific and Atlantic regions. The contracts will utilize the […]
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KrisEnergy seals the deal for Cambodia’s first oil field development
23 August 2017, 6:39am
Singapore-based oil and gas company KrisEnergy and the government of Cambodia have signed fiscal and technical agreements for the country’s first oil field development in Cambodia Block A in the Gulf of Thailand.  Earlier this month, the government approved the signing schedule for the petroleum agreement for the offshore block with KrisEnerg, which is the operator of […]
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Maersk Oil picks John Crane for Culzean topside maintenance strategy
23 August 2017, 6:03am
John Crane Asset Management Solutions (John Crane AMS) has secured a contract to supply Maersk Oil with data services to support the planned maintenance strategy at the Danish company’s Culzean development in the UK North Sea. John Crane AMS said on Wednesday it would provide data build services as well as establishing a maintenance plan […]
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UK: North Sea safety leaders hailed at Offshore Safety Awards
23 August 2017, 5:05am
Oil & Gas UK, in association with Step Change in Safety and Maersk Oil, has handed out awards in six categories during the Offshore Safety Awards held at the Aberdeen Exhibition and Conference Centre to people and companies excelling in North Sea safety. During the event which took place on Wednesday, August 23, attendees heard […]
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Surviving Oil Crash, Norway's PM Builds Hope for Second Term
23 August 2017, 12:00am
The economic recovery could be coming just in time for Norwegian Prime Minister Erna Solberg in her bid for a second term.
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Harvey Could Become First Hurricane to Strike Texas Since 2008
23 August 2017, 12:00am
Harvey has already spurred one refiner to start shutting down a plant and forced workers to be evacuated from Gulf of Mexico platforms.
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Atwood Oceanics' to Reduce AU Offshore Personnel Costs in New Deal
23 August 2017, 12:00am
Atwood Oceanics announces that the offshore employees of its Australian operating subsidiary have approved a new four year Enterprise Bargaining Agreement.
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Cambodia, KrisEnergy Sign Deal To Develop Offshore Oil Field
23 August 2017, 12:00am
Cambodia signs an agreement with Singapore-listed KrisEnergy Ltd to develop an offshore oil field.
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How Did Worker Responses Vary Between Regions?
23 August 2017, 12:00am
Rigzone's worker exodus survey explores the differences among respondents in different countries.
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Venezuela's IOUs Pile Up, Keeping US Oil Servicers in Tow
23 August 2017, 12:00am
For Schlumberger and Halliburton the road to payment for services in Venezuela is increasingly long and winding.
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Waitsia-4 Well Success Confirms Extension In Waitsia Gas Field
22 August 2017, 9:13pm
Australian Worldwide Exploration Ltd. said that preliminary analysis of wireline log and pressure data from the Waitsia-4 appraisal well has confirmed the eastern extension of the Waitsia gas field. The operator of production licenses in the northern Perth Basin, Western Australia encountered strong gas shows across a 150-m gross interval, including the Kingia and High Cliff Sandstone reservoir targets. The well was successfully drilled to a total depth of 3,744-m measured depth below rotary table (MDRT), having drilled through all primary and secondary targets. The Kingia reservoir was penetrated very close to prognosis at 3,379 m MDRT. Strong gas shows were encountered in the Kingia and High Cliff Sandstone intervals as well as minor shows in the Irwin River Coal Measures.
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Wintershall’s Skarfjell FID set for first half of 2018
22 August 2017, 6:29pm
Wintershall could make a Final Investment Decision on its Skarfjell field development offshore Norway sometime in the first half of 2018. This was shared on Tuesday by Cairn, a partner in the Wintershall-operated Skarfjell development through its subsidiary Capricorn Norge Cairn said that that the joint venture was targeting the final investment decision (FID) for […]
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MCA appoints new SOSRep for Maritime Salvage & Intervention
22 August 2017, 6:18pm
UK’s Maritime & Coastguard Agency (MCA) has appointed a new Secretary of State’s Representative (SOSRep) for Maritime Salvage & Intervention which oversees the response to accidents at sea. MCA said on Tuesday that Les Chapman was appointed to the role and joined the Agency on Monday, August 21. The newly elected SOSRep, Chapman, served in […]
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Chevron CEO John Watson Reportedly To Step Down
22 August 2017, 5:55pm
[Editor's note: This story was updated at 2:50 p.m. CST Aug. 22.] Chevron Corp. (NYSE: CVX) CEO John Watson will step down by next month and likely be replaced by Vice Chairman Mike Wirth, a source familiar with the matter told Reuters on Aug. 22. The unexpected shakeup at the top of one of the world's largest oil and natural gas producers comes just as it is emerging from a global commodity price slump and is beginning to reap the fruits of a multibillion-dollar expansion spree. Chevron spokesman Kent Robertson declined to comment.
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Muruk discovery in Papua New Guinea sets up prospects along trend
22 August 2017, 4:24pm
A group led by Oil Search Ltd. is maturing four potential multi-trillion cubic foot exploration prospects along the Hides-P’nyang trend in the Papua New Guinea Highlands following the discovery and confirmation of natural gas in Muruk field earlier this year.  
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Weatherford Appoints Blanchard As COO
22 August 2017, 3:27pm
Weatherford International Plc on Aug. 21 announced the appointment of Karl Blanchard as Executive Vice President and COO. In this role, he will oversee all region and product line operations; quality, health, safety, security and environment; sales; engineering, research and development; and supply chain. Blanchard brings with him valuable insights gained through more than 35 years in the oilfield services sector. Most recently, he served as COO for Seventy Seven Energy, where he oversaw drilling, pressure-pumping and rental tool operations. Previously, he spent more than 30 years at Halliburton Co. where he held senior leadership positions including vice president of cementing, vice president of production enhancement and vice president of testing and subsea.
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Whitepaper: Driving Operational Efficiencies with Digital Technologies
22 August 2017, 2:55pm
  Digital technology is helping oil and gas companies extend and increase the efficiencies gained through hardware-centric initiatives. In fact, Quorum software is driving innovations in oil and gas that are positioning our customers for long-term success and profitability.
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African Petroleum refutes Gambian license expiry once again
22 August 2017, 12:53pm
Independent oil and gas company African Petroleum (AP) has refuted media claims that its Gambian offshore licenses have expired and are up for grabs for interested parties. According to Premium Times, The Gambia’s presidential spokesperson, Amie Bojang, told the media that African Petroleum’s rights to explore in two offshore Gambian oil blocks have expired and are currently […]
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Repsol takes UMW’s jack-up for a drilling spin
22 August 2017, 12:39pm
UMW Offshore Drilling has secured a contract to provide a jack-up drilling rig to the Spanish oil company Repsol. The driller, a subsidiary of Malaysia’s UMW Oil & Gas said on Tuesday the contract value was RM 113 million. Repsol will take UMW’s Naga 5 rig on a one year contract with an option to […]
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Israel: Energy minister extends offshore license near Lebanese waters
22 August 2017, 12:04pm
Israel’s Delek and U.S. Noble Energy have obtained an extension to the Alon D license in the Mediterranean Sea, offshore Israel. The exploration license covers 400 square kilometers in the northern waters of Israel’s EEZ, a few kilometers east of the Karish gas field, recently bought by Energean. However, the northern end of the license […]
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Woodmac: Total-Maersk deal is mostly about North Sea
22 August 2017, 9:56am
Following yesterday’s big news of France’s Total taking over Denmark’s Maersk Oil in a $7.45 million transaction, Wood Mackenzie has offered its view on the deal. According to Dr Valentina Kretzschmar, a director in Wood Mackenzie’s corporate services unit, the proposed deal is mostly about Maersk Oil’s North Sea assets, where the company is developing […]
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Wood Group profit falls 86 pct on low North Sea activity and exceptional costs
22 August 2017, 9:12am
Oilfield services firm Wood Group reported an 86 percent drop in its profit for the first half of the year, citing, among other factors, weak contribution from the North Sea activity. The UK-based company posted a profit of $6 million, down from $45 million in the first half of 2016.  Profit for the period was […]
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Senegal: Cairn preparing SNE FPSO tender
22 August 2017, 8:00am
Cairn Energy, a London-listed oil company, has shed some light on the development progress of its large SNE oil discovery offshore Senegal. The company said on Monday detailed planning was underway for the for phased development of SNE field using a standalone FPSO with subsea wells and expansion capability. According to Cairn, engagement with major […]
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Weatherford names Halliburton man a new COO
22 August 2017, 7:08am
Weatherford International, an oil and gas services company, has appointed a new executive vice president and chief operating officer (COO). The oilfield services company said on Monday that Karl Blanchard was named as the new COO, to oversee all regions and product line operations like quality, health, safety, security, environment, sales, engineering, research and development, and […]
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Greenpeace activists released following arrest over protest in Norway
22 August 2017, 6:40am
Greenpeace has informed that its 35 activists and its Arctic Sunrise ship have been released following last week’s arrest in Norway. The Norwegian Coast Guard last Thursday boarded the Arctic Sunrise and arrested the ship and the crew at Statoil’s Korpfjell drill site in the Barents Sea, after Greenpeace’s protest against Statoil’s drilling in the […]
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Noble hires Ensco drillship for Leviathan drilling (Israel)
22 August 2017, 6:09am
Offshore driller Ensco has secured a contract for its ultra-deepwater drillship ENSCO DS-7 with Noble Energy in Israel. Noble will use the drillship to to drill two wells and complete four production wells at the Leviathan field development in the Mediterranean Sea. The contract is expected to start in March 2018 and be completed in […]
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Maersk Oil awards North Sea abandonment deal to Coretrax
22 August 2017, 5:46am
Wellbore clean-up & abandonment specialist Coretrax has been awarded a multi-million-pound abandonment contract with Danish oil company Maersk Oil. Coretrax said on Monday that the contract was for Maersk Oil’s well abandonment campaign in the Central North Sea. The company added that it would provide wellbore abandonment services including bridge plugs, drillable scrapers, service tools, […]
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Field Workers: Libya's Sharara Oil Field Reopening After Latest Shutdown
22 August 2017, 12:00am
Libya's Sharara oil field, the country's largest, was gradually restarting on Tuesday after repeated disruptions.
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Total Overtakes Shell In North Sea Where Appetite For Assets Remains High
22 August 2017, 12:00am
Total has overtaken rival Shell to become the second-largest producer in the North Sea with its acquisition of Maersk's Norwegian and UK producing assets.
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Petrobras Says Test Production In Libra Area To Start In Weeks
22 August 2017, 12:00am
Oil production from the first rig to operate in Brazil's offshore Libra area should start in late September or October.
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Chevron's Watson Said to Plan to Step Down, Journal Reports
22 August 2017, 12:00am
John Watson, who has led Chevron since 2010, is planning to step down as the oil major seeks a new CEO, the Wall Street Journal says.
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Gadfly: Halliburton And Microsoft Do Not Compute For OPEC
22 August 2017, 12:00am
Technology is rewriting the energy industry's dictionary.
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Oil Prices Climb As Traders Eye Another US Crude Drawdown
22 August 2017, 12:00am
Oil inched up, lifted by expectations of another crude stockpile drawdown in the US but price gains were limited amid the reopening of Libya's largest oil field.
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Ex-Petrobras CEO Bendine Charged With Corruption In Brazil
22 August 2017, 12:00am
Brazilian prosecutors charge Aldemir Bendine, the former chief executive of Petrobras with corruption.
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Oil Search Profit Soars, Focus On Advancing PNG Gas Projects
22 August 2017, 12:00am
Oil Search expects its partners to agree by year-end on how to coordinate development of their Papua New Guinea gas projects.
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Bapco To Meet Technip-Led Consortium For Talks On Refinery Expansion
22 August 2017, 12:00am
Bapco will meet a consortium led by Technip for further talks over the planned expansion of Bahrain's only oil refinery.
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ConocoPhillips Looks to Backfill for Darwin LNG
22 August 2017, 12:00am
Chris Wilson, President Australia West, ConocoPhilips, says Darwin LNG has promising options for backfill and expansion opportunities.
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Energy Transfer Sues Greenpeace Over Dakota Pipeline
22 August 2017, 12:00am
Energy Transfer Partners LP sues Greenpeace and other environmental groups, accusing them of launching an 'eco-terrorism' campaign aimed at blocking the Dakota Access Pipeline.
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Fire Breaks Out At Exxon's Refinery In Rotterdam, Netherlands
22 August 2017, 12:00am
ExxonMobil says a fire broke out at its refinery in Rotterdam but that there were no injuries.
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A Second Wind for the North Slope?
22 August 2017, 12:00am
Alaska works to open off-limit federal lands for exploration and development.
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BHP To Quit US Shale Business As Annual Profit Surges
22 August 2017, 12:00am
BHP Billiton reported a surge in underlying full-year profits and said it would exit its underperforming US shale oil and gas business.
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Four coastal state governors express support for more OCS leasing
21 August 2017, 9:18pm
Four members of the Outer Continental Shelf Governors Coalition called on the US Department of the Interior to include all leasing options in the 2019-24 Outer Continental Shelf program that is being developed, “understanding that circumstances affecting leasing decisions could change during the course of the program’s development and implementation.”  
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Aker BP gains drilling permits for North Sea wells
21 August 2017, 2:19pm
The Norwegian Petroleum Directorate (NPD) has granted Aker BP drilling permits for two wells in the North Sea, offshore Norway. NPD said that the wells 25/2-19 S and 25/2-19 A would be drilled using the Maersk Interceptor drilling rig in the North Sea production license 442. The drilling program for well 25/2-19 S relates to […]
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Total buying Maersk Oil in $7.45 billion deal
21 August 2017, 2:07pm
French oil giant Total is set to acquire its Danish rival Maersk Oil and Gas for $7.45 billion dollars. Danish Maritime giant Maersk A/S informed on Monday it had entered into an agreement to sell its subsidiary Mærsk Olie og Gas A/S to Total S.A. for $7.45bn in a combined share and debt transaction. This […]
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Emas seeking legal advice over Perisai put option
21 August 2017, 2:04pm
Singapore’s offshore services company EMAS Offshore Limited is seeking legal advice after Malaysia’s Perisai Petroleum moved to activate a previously agreed put option which would force Emas to buy Perisai’s share in SJR Marine. Namely, Perisai owns a 51 percent stake in SJR Marine, a company which owns the ‘Enterprise 3’ derrick lay barge, with […]
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Israeli JV to return offshore licenses to government
21 August 2017, 1:23pm
An Israeli partnership has decided to return the Daniel East and Daniel West offshore oil and gas exploration licenses to the Israeli Government due to a lack of investors, among other reasons. In Sunday’s statement, Modiin Energy, one of the companies in the joint venture, said the license operator recommended that the licensees return all […]
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Date set for shareholders’ vote on Ensco-Atwood merger
21 August 2017, 12:49pm
Offshore drillers Ensco and Atwood Oceanics, which recently agreed to merge, on Friday filed definitive proxy materials with the U.S. Securities and Exchange Commission regarding the deal. To remind, subject to certain conditions, including approval from both sets of shareholders, Ensco will acquire Atwood in an all-stock transaction. In a statement on Friday, Ensco and […]
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Greenpeace stages protest against BP’s offshore drilling plan
21 August 2017, 12:29pm
Greenpeace UK activists are staging a protest in front of the UK headquarters of the oil giant BP, protesting against the company’s plans to drill near a coral reef offshore Brazil. The protesters were carrying signs which read “BP, back off the Amazon Reef” and  tropical fish and jellyfish shaped inflatables, depicting the marine life […]
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EIA: Major US onshore regions' oil output to rise 117,000 b/d in September
21 August 2017, 5:14am
Crude oil production from the seven major US onshore producing regions is forecast to increase 117,000 b/d month-over-month in September to 6.149 million b/d, according to the US Energy Information Administration's latest Drilling Productivity Report.
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US operators to drill cautiously amid prolonged market volatility
21 August 2017, 5:13am
Major US operators entered 2017 with increased capital budgets and plans to ramp up drilling in the Lower 48's most promising regions, namely the Permian basin and Sooner Trend Anadarko basin Canadian and Kingfisher counties (STACK) play.
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Virginia governor opposes leasing offshore state without revenue sharing
18 August 2017, 4:26pm
Virginia Gov. Terry McAuliffe (D) said he opposes oil and gas leasing off the state’s coast under a new federal Outer Continental Shelf management program because it apparently would not include royalty and revenue sharing from any crude oil or natural gas produced there.  
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Greece launches new tender
17 August 2017, 8:34pm
Greece’s Ministry of Environment and Energy has invited interested parties to submit bids within 90 days from the date of publication of its tender notice in the Official Journal of the European Union.  
Read more... (source: www.ogj.com)


China, Philippines eye joint exploration
17 August 2017, 5:59pm
China and the Philippines are discussing joint exploration of an area off the island nation claimed by Beijing.  
Read more... (source: www.ogj.com)


BOEM publishes draft EIS for Hilcorp’s project in Beaufort Sea
17 August 2017, 5:53pm
The US Bureau of Ocean Energy Management published a draft environmental impact statement for Hilcorp Alaska LLC’s proposed Liberty oil and gas project in the Beaufort Sea off Alaska’s North Slope. The Aug. 17 publication of the draft EIS opened a 90-day public comment period, which will run through Nov. 19, it said.  
Read more... (source: www.ogj.com)


Rob Bishop, 119 other House members ask Zinke to expand OCS leasing
17 August 2017, 5:12pm
The US House Natural Resources Committee Chairman Rob Bishop (R-Utah) and 119 other House members, all but one of whom are Republicans, asked Interior Sec. Ryan Zinke to increase US Outer Continental Shelf areas available for oil and gas leasing in the next 5-year management program. Rep. Gene Green from Houston was the single Democrat who signed the Aug. 16 letter, a committee staff member told OGJ.  
Read more... (source: www.ogj.com)


BP lets pre-FEED contract for Tortue field off Mauritania, Senegal
17 August 2017, 4:37pm
KBR Inc. will perform pre-front-end engineering design (FEED) work over the next 6 months in support of BP PLC in the optimization stage of the Tortue field development.  
Read more... (source: www.ogj.com)


Shell, Chevron headline subdued first regionwide US gulf lease sale
16 August 2017, 6:08pm
The first regionwide Gulf of Mexico lease sale under the US Bureau of Ocean Energy Management’s new Outer Continental Shelf program was predictably subdued, with supermajors Royal Dutch Shell PLC and Chevron Corp. leading in bidding activity and sum of high bids.  
Read more... (source: www.ogj.com)


Rockhopper updates Al Jahraa drilling campaign
15 August 2017, 6:18pm
Rockhopper Exploration PLC’s Al Jahraa-9 well has encountered the deepest known oil shows in the Abu Roash-D and Abu Roash-E (AR-E) reservoirs in Al Jahraa oil field onshore Egypt in the company’s Abu Sennan drilling concession.  
Read more... (source: www.ogj.com)


Oxy unit taps KBR for Abu Dhabi gas work
15 August 2017, 6:00pm
Occidental of Abu Dhabi Ltd. has let a contract to KBR Inc. for management of the front-end engineering and design services phase of Dalma gas field development and the surveys phase of the Hail and Ghasha Islands project in Abu Dhabi.  
Read more... (source: www.ogj.com)


Uruguay to open third offshore bidding round
14 August 2017, 5:00pm
Uruguay is calling for bids on 17 areas in three offshore basins offered in the country’s Round 3. According to Uruguayan National Oil Co. (ANCAP) and the Ministry of Industry, Energy, and Mining (MIEM), bathymetries range from 50-4,000 m of water. 
Read more... (source: www.ogj.com)


BPTT updates gas reserves in Columbus basin in Trinidad and Tobago
14 August 2017, 4:55pm
BP PLC’s Trinidad and Tobago operations have at least 12.578 tcf of 3P natural gas reserves in its Columbus basin, according to figures revealed in the Caribbean twin-island nation’s Natural Gas Master Plan (NGMP).  
Read more... (source: www.ogj.com)


Chevron posts $1.5 billion in second-quarter earnings, higher cash flow
14 August 2017, 7:55am
Chevron Corp. reported second-quarter earnings of $1.5 billion compared with a loss of $1.5 billion in second-quarter 2016.
Read more... (source: www.ogj.com)


Quebec halts Anticosti Island exploration
14 August 2017, 7:50am
The Quebec government has suspended oil and gas exploration on Anticosti Island in the Gulf of St. Lawrence.
Read more... (source: www.ogj.com)


PSAC increases its Canadian drilling forecast for 2017
14 August 2017, 7:46am
The Petroleum Services Association of Canada (PSAC) has updated its 2017 Canadian Drilling Activity Forecast to reflect an increase in its projected total number of wells to be drilled during the year to 7,200 from 6,680.
Read more... (source: www.ogj.com)


ONRR repeals Obama-era rule that increased federal royalty rates
14 August 2017, 7:33am
The US Office of Natural Resources Revenue announced on Aug. 7 that it is repealing higher royalty rates for production of oil, gas, and coal on federal and Indian land that the Obama administration imposed on July 1, 2016.
Read more... (source: www.ogj.com)


NAFTA and energy trade
14 August 2017, 7:21am
Ten years ago, officials of the US government would have thought twice about imposing sanctions on three of the world's top 12 oil-producing countries. They would have worried about oil supply. Markets, similarly fretful, would have become nervous. The mere possibility of retaliation in the oil market would have increased prices.
Read more... (source: www.ogj.com)


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


AWE-led group finds gas with Waitsia-4 well off Western Australia
11 August 2017, 5:52pm
The AWE Ltd.-led partnership with fellow Sydney-based Origin Energy Ltd. has reached total depth with its Waitsia-4 appraisal well in the onshore Perth basin of Western Australia and encountered gas in primary and secondary targets (OGJ Online, July 10, 2017).
Read more... (source: www.ogj.com)


GeoPark, Wintershall make oil find in Argentina’s Neuquen basin
10 August 2017, 5:55pm
GeoPark Ltd. and Wintershall Energia SA plan further tests of a discovery in Argentina’s Neuquen basin with potential net pay of 400 ft in multiple strata.
Read more... (source: www.ogj.com)


Twinza signs deal for Pasca A gas-condensate field development
9 August 2017, 4:28pm
Twinza Oil Ltd., Perth, has signed an agreement for the provision of support on its Pasca A gas-condensate field development in the Gulf of Papua.
Read more... (source: www.ogj.com)


AWE reclassifies Ande Ande Lumut oil reserves
9 August 2017, 4:21pm
AWE Ltd., Sydney, has reclassified its 50% share of the 2P oil reserves in the Indonesian northwest Natuna Sea Ande Ande Lumut (AAL) development due to project delays, lower oil prices, and the potential sale of operator Santos Ltd’s 50% interest.
Read more... (source: www.ogj.com)


Hibernia III backed for Texas acquisitions
9 August 2017, 3:35pm
Hibernia Energy III LLC, Houston, has received equity commitments of $250 million from NGP through NGP Natural Resources XII LP and will acquire and develop unconventional oil and gas properties in Texas.
Read more... (source: www.ogj.com)


Woodside makes third gas discovery offshore Myanmar
8 August 2017, 3:47pm
Woodside Petroleum Ltd., Perth, has made its third natural gas discovery offshore Myanmar.
Read more... (source: www.ogj.com)


ADNOC furthers concession split, increases partnership prospects
8 August 2017, 3:01pm
Abu Dhabi National Oil Co. (ADNOC) is working to boost oil production to 3.5 million b/d in 2018 with offshore development being its primary focus.
Read more... (source: www.ogj.com)


Cairn-led JV makes oil discovery offshore Senegal
7 August 2017, 6:52pm
A Cairn Energy PLC-led joint venture has continued its success offshore Senegal with an oil discovery with its SNE North-1 wildcat well drilled in the Sirius prospect to the north of the recently discovered SNE oil field.
Read more... (source: www.ogj.com)


BP reports productive Mancos shale well test in New Mexico
7 August 2017, 4:29pm
BP PLC recorded an average 30-day initial production rate of 12.9 MMcfd of natural gas from its BU 602 Com 1H well in San Juan County, NM, part of the San Juan basin.
Read more... (source: www.ogj.com)


Statoil makes natural gas discovery in Barents Sea
7 August 2017, 4:20pm
Statoil ASA reported a small natural gas discovery in the Barents Sea, about 30 km northeast of the 2013 Wisting oil discovery.
Read more... (source: www.ogj.com)


BOEM issues final PEIS for gulf G&G activities
7 August 2017, 3:06pm
The US Bureau of Ocean Energy Management issued a final programmatic environmental impact statement (PEIS) for geological and geophysical activities in the Gulf of Mexico. The International Association of Geophysical Contractors immediately expressed concerns over the document’s mitigation.
Read more... (source: www.ogj.com)


Fracture conductivity optimized in China's Longmaxi shale
7 August 2017, 6:59am
Fractures induced by hydraulic fracturing combine with natural fractures to create a complex network in China's Longmaxi shale in the Sichuan basin.
Read more... (source: www.ogj.com)


UK tight-gas development in southern North Sea offers basin extended life
7 August 2017, 6:21am
Despite the region's maturity, a range of companies continue to explore in the UKCS, taking advantage of the low cost of drilling following the oil price downturn.
Read more... (source: www.ogj.com)


Greece opens frontier Ionian Sea, south of Crete exploration
7 August 2017, 6:15am
Offshore exploration in Greece has been dormant since the 1990s, but new seismic and the industry's renewed interest in carbonate plays such as the recent Zohr discovery in the Eastern Mediterranean are bringing major operators to the region. Within 3 years, the country may have enough data paired with new discoveries to offer a new deepwater bid round.
Read more... (source: www.ogj.com)


ExxonMobil doubles second-quarter, first-half earnings
7 August 2017, 5:52am
ExxonMobil Corp. posted second-quarter earnings of $3.4 billion, double the $1.7 billion recorded in second-quarter 2016, as oil and gas realizations increased and refining margins improved. The supermajor's first-half earnings were $7.4 billion, up from $3.5 billion in 2016.
Read more... (source: www.ogj.com)


PwC: US oil, gas M&A activity remained elevated in second quarter
7 August 2017, 5:45am
Second-quarter value for US oil and gas mergers and acquisitions was about half of the record-setting first-quarter value, according to PwC LLP's latest energy deals report. But the $37.01 billion from 50 announced deals was the third-highest second-quarter value of the past 8 years.
Read more... (source: www.ogj.com)


Pennsylvania Senate votes to tax natural gas production, consumption
7 August 2017, 5:40am
Pennsylvania's Senate approved a tax reform bill with provisions to tax both natural gas production and consumption in the state. Oil and gas trade associations there strongly criticized the July 26 action, which passed by a 26-24 vote.
Read more... (source: www.ogj.com)


Venezuela crisis slowing down Loran-Manatee development
7 August 2017, 5:28am
The ongoing political unrest in Venezuela is slowing down efforts to produce the giant Loran-Manatee cross-border natural gas field.
Read more... (source: www.ogj.com)


NNPC gets financing for Chevron, Shell JVs
4 August 2017, 4:18pm
Nigerian National Petroleum Corp. has signed agreements with joint ventures led by Chevron Corp. and Royal Dutch Shell PLC accommodating third-party financing of its cash commitments for oil and gas development.
Read more... (source: www.ogj.com)


Junex signs partnership, prepares to drill Galt prospect
4 August 2017, 3:16pm
Junex Inc. plans to drill the Galt No. 6 horizontal well on its Galt oil prospect in Gaspe Peninsula in eastern Quebec.
Read more... (source: www.ogj.com)


NPD approves OMV’s latest plans for Wisting appraisal drilling in Barents Sea
4 August 2017, 3:10pm
The Norwegian Petroleum Directorate approved OMV (Norge) AS’s plans for appraisal drilling of its Wisting field oil discovery in the Barents Sea about 160 miles offshore northern Norway.
Read more... (source: www.ogj.com)


Beach finds oil in first Western Flank horizontal well
3 August 2017, 3:05pm
Beach Energy Ltd., Adelaide, has found oil with the first horizontal well drilled in its Cooper-Eromanga basin Western Flank acreage.
Read more... (source: www.ogj.com)


Petronas, Ecopetrol get Mexico’s shallow-water Block 6
2 August 2017, 3:03pm
Malaysia’s Petronas said shallow-water Block 6 in the Gulf of Mexico’s Salina basin has been awarded to a 50-50 partnership with Colombia’s Ecopetrol.
Read more... (source: www.ogj.com)


Venezuela crisis slowing down Loran-Manatee development
31 July 2017, 7:21pm
The ongoing political unrest in Venezuela is slowing down efforts to produce the giant Loran-Manatee cross-border natural gas field.
Read more... (source: www.ogj.com)


Quebec halts Anticosti Island exploration
31 July 2017, 5:05pm
The Quebec government has suspended oil and gas exploration on Anticosti Island in the Gulf of St. Lawrence.
Read more... (source: www.ogj.com)


Karoon enters deal with DEA for work in Brazil
31 July 2017, 3:39pm
Melbourne-based Karoon Gas Australia Ltd. has entered into agreements with German company DEA Deutsche Erdoel AG to review and evaluate and, if appropriate, jointly bid for oil and gas assets in selected areas offshore Brazil.
Read more... (source: www.ogj.com)


Russian oil output seen peaking soon without tax change
31 July 2017, 6:00am
Conflicting priorities of influential groups keep Russia from changing tax policy as it must to sustain oil production.
Read more... (source: www.ogj.com)


Dorado-1 spud date slips behind Phoenix South-3
31 July 2017, 5:50am
The Perth-based duo of Quadrant Energy Ltd. and Carnarvon Petroleum Ltd. has decided to delay the drilling of the prospective Dorado-1 wildcat well in the Bedout sub-basin off Western Australia until mid-2018. It will now follow the group's second appraisal well on the Phoenix South oil and gas discovery.
Read more... (source: www.ogj.com)


AWE confirms southern extension with Waitsia-3 appraisal well
31 July 2017, 5:49am
AWE Ltd., Sydney, reported it has confirmed a southern extension to its onshore north Perth basin Waitsia gas field when appraisal well Waitsia-3 encountered strong gas shows across a 1,250-m gross interval, including the Kingia and High Cliff Sandstone reservoir targets.
Read more... (source: www.ogj.com)


Halcon to sell its operated Williston assets for $1.4 billion
31 July 2017, 5:47am
Halcon Resources Corp., Houston, has agreed to sell its operated oil and gas properties in the Williston basin to Bruin E&P Partners LLC, a Houston portfolio company of private equity firm ArcLight Capital Partners LLC, for $1.4 billion. The move further solidifies Halcon's new Delaware basin focus.
Read more... (source: www.ogj.com)


GOP senators express support for new OCS management program
28 July 2017, 7:28pm
Thirty-six Republican US senators said they strongly support development of a new US Outer Continental Shelf resource management program for the 2019-24 period. “We encourage you to carefully review those areas that were not included in the 2017-2022 Five-Year Program to ensure that opportunities are not missed,” they said in a July 26 letter to US Interior Sec. Ryan Zinke.
Read more... (source: www.ogj.com)


ONGC reports five discoveries in second quarter
28 July 2017, 4:35pm
India’s Oil & Natural Gas Corp. Ltd. reported five discoveries during the first quarter of its fiscal year. Three were offshore.
Read more... (source: www.ogj.com)


Beach plans expanded Cooper basin program for 2017-18
27 July 2017, 3:26pm
Beach Energy Ltd., Adelaide, has outlined an expanded exploration and production program in its Cooper basin acreage for the 2017-18 financial year in which it expects to spend $220-260 million (Aus.). The company previously had forecast a figure of $155 million (Aus.).
Read more... (source: www.ogj.com)


Faroe advances appraisal of Brasse field in North Sea
26 July 2017, 4:44pm
Faroe Petroleum Norge AS has completed drilling two appraisal wells intended to delineate the southern part of the 31/7-1 Brasse oil and gas discovery in 2016.
Read more... (source: www.ogj.com)


UK OGA launches 30th offshore licensing round
25 July 2017, 6:52pm
The UK Oil & Gas Authority (OGA) has opened the 120-day offer period for its 30th offshore licensing round, which will close on Nov. 21. Award decisions are expected in second-quarter 2018.
Read more... (source: www.ogj.com)


Senex makes oil discovery in Cooper basin’s western flank
25 July 2017, 4:11pm
Senex Energy Ltd., Brisbane, has made an oil discovery on the western flank of South Australia’s Cooper basin, with its Marauder-1 exploration well, which flowed 655 b/d of oil on a drillstem test.
Read more... (source: www.ogj.com)


ExxonMobil finds more oil with Payara-2 well off Guyana
25 July 2017, 3:08pm
ExxonMobil Corp.’s Payara-2 well offshore Guyana, drilled to 5,812 m in 2,135 m of water, encountered 18 m of “high-quality, oil-bearing sandstone,” the operator said.
Read more... (source: www.ogj.com)


Plan for Philippines bid round escalates drama with China
24 July 2017, 2:11pm
Territorial conflict intensifies in the South China Sea.
Read more... (source: www.ogj.com)


ConocoPhillips' Barossa development plans made public
24 July 2017, 2:09pm
Official proposals for the ConocoPhillips-led consortium's Barossa and Caldita natural gas fields' development in the offshore Bonaparte basin, 300 km north of Darwin in the eastern Timor Sea, have been made public by the Australian National Offshore Petroleum Safety & Environmental Management Authority (NOPSEMA).
Read more... (source: www.ogj.com)


Centrica, Bayerngas Norge to form European E&P combine
24 July 2017, 2:08pm
Centrica PLC, Windsor, UK, has agreed to merge its European oil and gas exploration and production business with Bayerngas Norge AS, Oslo, to form a newly incorporated joint venture.
Read more... (source: www.ogj.com)


Shell to divest Ireland upstream assets for up to $1.23 billion
24 July 2017, 2:07pm
Royal Dutch Shell PLC is exiting Ireland's upstream segment in a deal that includes its 45% interest in the Corrib gas venture.
Read more... (source: www.ogj.com)


BP chief charts energy, emission course
24 July 2017, 1:59pm
Operational excellence, product sustainability, and collaboration should be goals of an oil and gas industry needing to supply growing amounts of energy while cutting emissions of carbon dioxide, according to BP PLC Group Chief Executive Bob Dudley.
Read more... (source: www.ogj.com)


EIA: Major US onshore regions to add 113,000 b/d in August
24 July 2017, 1:58pm
Crude oil production from the seven major US onshore regions is projected to rise 113,000 b/d month-over-month in August to 5.585 million b/d, the US Energy Information Administration says in its Drilling Productivity Report.
Read more... (source: www.ogj.com)


IEA notes declining confidence in oil market
24 July 2017, 1:55pm
Brent crude oil prices have closed below $50/bbl each day since early June and few investors expect a recovery anytime soon, the International Energy Agency said in its July Oil Market Report (OMR).
Read more... (source: www.ogj.com)


Planned offshore leasing review draws party-line questions
24 July 2017, 1:35pm
The Trump administration's intentions to consider opening more of the US Outer Continental Shelf to oil and gas leasing in a new management program it plans to develop drew equally strong support from Republicans and opposition from Democrats at a July 12 US House of Representatives Natural Resources subcommittee hearing.
Read more... (source: www.ogj.com)


Fewer wells, higher volumes
24 July 2017, 1:11pm
Commercial discoveries in this year's first half are already greater than the total for 2016, according to a report from Westwood Global Energy Group.
Read more... (source: www.ogj.com)


Panoro unit approves FID on development of Dussafu oil fields
20 July 2017, 5:04pm
Pan Petroleum Gabon BV, a fully owned subsidiary of Panoro Energy ASA, London, reported its approval of the financial investment decision for the development of the Dussafu oil fields offshore southern Gabon.
Read more... (source: www.ogj.com)


Twinza signs jack up rig contract for Pasca field drilling
20 July 2017, 4:11pm
Twinza Oil Ltd., Perth, has signed a contract with China Oilfield Services Ltd. for use of the COSLSeeker jack up drilling rig to drill an appraisal well in Pasca A gas field in the Gulf of Papua offshore Papua New Guinea.
Read more... (source: www.ogj.com)


Santos basin to be surveyed with ocean-bottom nodes
19 July 2017, 9:23pm
Petroleo Brasileiro SA (Petrobras) has signed a contract with CGG to conduct a 2,180-sq-km full fold 3D survey using ocean-bottom nodes in the deepwater Santos basin offshore Brazil.
Read more... (source: www.ogj.com)


OGA provides more data packages in advance of 30th licensing round
19 July 2017, 4:49pm
The UK Oil & Gas Authority (OGA) has provided more offshore data in advance of its 30th offshore licensing round, which is expected to be announced later this year.
Read more... (source: www.ogj.com)


ExxonMobil pulls out of East Natuna field development
19 July 2017, 4:44pm
ExxonMobil Corp. has decided to walk away from development of the East Natuna natural gas permit in Indonesia saying it no longer wishes to continue discussions or activity in the block.
Read more... (source: www.ogj.com)


Iranian firms sign field-development MOUs
18 July 2017, 4:19pm
Two state-owned oil companies in Iran have signed separate memoranda of understanding with international counterparts covering field development in the Islamic Republic.
Read more... (source: www.ogj.com)


Horizon Oil increases share of Papua New Guinea acreage, resources
18 July 2017, 3:55pm
Horizon Oil Ltd., Sydney, has increased its interest in the total certified resources in the western foreland fields in Papua New Guinea.
Read more... (source: www.ogj.com)


Quadrant secures rig for Phoenix South appraisal well
18 July 2017, 3:12pm
Quadrant Energy Ltd., Perth, has executed a contract with Transocean Ltd. for use of the GSF Development Driller-1 semisubmersible drilling rig for the planned Phoenix South-3 well in the Bedout basin offshore Western Australia.
Read more... (source: www.ogj.com)


OGA reports awards for 2016 Supplementary Offshore Licensing Round
17 July 2017, 7:03pm
The UK Oil & Gas Authority (OGA) has reported offering for award 12 licenses to 10 companies in the 2016 Supplementary Offshore Licensing Round, which closed for applications in March.
Read more... (source: www.ogj.com)


Alta appraisal well in southern Barents tests 6,050 b/d
17 July 2017, 5:11pm
An appraisal well for the 2014 Alta discovery in the southern Barents Sea has tested at 6,050 b/d.
Read more... (source: www.ogj.com)


Statoil reports small gas discovery in Barents Sea
17 July 2017, 4:36pm
Statoil ASA reported a small natural gas discovery in the Hammerfest basin in the Barents Sea about 21 km southeast of the Snohvit field.
Read more... (source: www.ogj.com)


EPA proposes mostly lower renewable fuel obligations for 2018
17 July 2017, 3:09pm
The US Environmental Protection Agency proposed renewable fuel obligations for 2018 that generally are lower than quotas it previously adopted for 2017. The proposed volumes reflect market realities focused on actual production and consumer demand while recognizing challenges in bringing advanced biofuels to the marketplace, Administrator E. Scott Pruitt said.
Read more... (source: www.ogj.com)


WoodMac: Global upstream project FIDs may double in 2017
17 July 2017, 2:29pm
The number of global upstream projects reaching final investment decision (FID) could double to 25 in 2017 from 12 last year, research and consulting firm Wood Mackenzie Ltd. says in a new report.
Read more... (source: www.ogj.com)


IEA: Upstream oil and gas investment continued to tumble in 2016
17 July 2017, 2:19pm
Upstream oil and gas investment continued to tumble in 2016, falling 26% in nominal terms to $434 billion, which was close to the rate of decline in 2015, according to the International Energy Agency's 2017 World Energy Investment report.
Read more... (source: www.ogj.com)


Investment for supply security
17 July 2017, 2:06pm
The 2017 World Energy Investment Report by the International Energy Agency showed that the fall in global upstream oil and gas investment in 2015 and 2016 totaled $345 billion. The number of sanctioned crude oil projects in 2016 reached the lowest level since before 1950.
Read more... (source: www.ogj.com)


ExxonMobil, Statoil to operate blocks off Suriname
13 July 2017, 8:39pm
An ExxonMobil Corp.-led group and Statoil ASA have been chosen to respectively operate two blocks offshore Surname.
Read more... (source: www.ogj.com)


Planned offshore leasing review draws party-line questions at hearing
13 July 2017, 5:33pm
The Trump administration’s intentions to consider opening more of the US Outer Continental Shelf to oil and gas leasing in a new management program it plans to develop drew equally strong support from Republicans and opposition from Democrats at a July 12 US House of Representatives Natural Resources subcommittee hearing.
Read more... (source: www.ogj.com)


BOEM approves Eni’s Beaufort Sea exploration plan
13 July 2017, 4:29pm
The US Bureau of Ocean Energy Management conditionally approved a Beaufort Sea exploration plan it received from Eni US Operating Co., a subsidiary of Italian multinational oil and gas company Eni SPA, for the drilling of four exploration wells in federal submerged lands from its preexisting Spy Island drill site in Alaskan state waters starting in December, the US Department of the Interior agency said on July 12.
Read more... (source: www.ogj.com)


Statoil lets rig contracts for exploration offshore Brazil
13 July 2017, 4:18pm
Statoil ASA said it has let rig contracts for offshore exploration in the BM-S-8 license area in Brazil’s Santos basin.
Read more... (source: www.ogj.com)


ConocoPhillips’ Barossa development plans made public
13 July 2017, 3:19pm
Official proposals for the ConocoPhillips-led consortium’s Barossa and Caldita natural gas fields’ development in the offshore Bonaparte basin 300 km north of Darwin in the eastern Timor Sea have been made public by the Australian National Offshore Petroleum Safety & Environmental Management Authority (NOPSEMA).
Read more... (source: www.ogj.com)


Seismic survey uncovers hydrocarbon potential off Timor Leste
12 July 2017, 9:36pm
Preliminary evaluation of data obtained by the 2016 Crocodile 3D seismic survey off the southeast tip of Timor Leste indicates the presence of more than 30 individual closed seismic structures at three geological levels—Jurassic, Triassic, and Permian—which are frequently stacked vertically and seen in 17 geographically distinct locations.
Read more... (source: www.ogj.com)


Eni’s Amoca-3 well off Mexico sparks fast-track development plan
12 July 2017, 8:29pm
Eni SPA’s Amoca-3 well in the shallow waters offshore Mexico has boosted the Italian firm’s resource estimate of Amoca field to 1 billion boe in place and prompted a fast-track development plan.
Read more... (source: www.ogj.com)


Talos discovers oil with Zama-1 well offshore Mexico
12 July 2017, 7:28pm
Talos Energy LLC’s Zama-1 well has discovered an 1,100-ft contiguous gross oil-bearing interval on Block 7 about 37 miles offshore the Port of Dos Bocas, Mexico.
Read more... (source: www.ogj.com)


Statoil to buy additional 10% in license offshore Brazil
12 July 2017, 4:39pm
Statoil ASA is to buy an additional 10% interest in the BM-S-8 license in the Santos basin offshore Brazil for $379 million.
Read more... (source: www.ogj.com)


Florida senator releases DOD letters backing eastern gulf moratorium
12 July 2017, 3:39pm
The office of US Sen. Bill Nelson (D) of Florida released two letters on July 11 from officials at the US Department of Defense urging retention of a moratorium on offshore oil and gas leasing in the eastern Gulf of Mexico.
Read more... (source: www.ogj.com)


IEA: Upstream oil and gas investment continued to tumble in 2016
11 July 2017, 5:01pm
Upstream oil and gas investment continued to tumble in 2016, falling 26% in nominal terms to $434 billion, which was close to the rate of decline in 2015, according to the International Energy Agency’s 2017 World Energy Investment report.
Read more... (source: www.ogj.com)


Cairn-led group makes oil discovery offshore Senegal
11 July 2017, 4:21pm
The Cairn Energy PLC-led group has made an oil discovery with the FAN South-1 exploration well drilled in deep water offshore Senegal.
Read more... (source: www.ogj.com)


DNO fast-tracks Peshkabir discovery in Iraq’s Kurdistan region
11 July 2017, 4:15pm
Norway’s DNO ASA is fast-tracking its Peshkabir discovery on the Tawke license in the Kurdistan region of Iraq with plans to acquire and install a production facility by yearend. That work will be followed by a pipeline connection to the Tawke export terminal at Fish Khabur.
Read more... (source: www.ogj.com)


WoodMac: Global upstream FIDs may double in 2017
11 July 2017, 3:15pm
The number of global upstream projects reaching final investment decision (FID) could double to 25 in 2017 from 12 last year, research and consulting firm Wood Mackenzie Ltd. says in a new report.
Read more... (source: www.ogj.com)


Statoil: Results dry in two-well exploration program off Newfoundland and Labrador
10 July 2017, 5:31pm
Statoil ASA and partner Husky Energy Inc. have finalized a two-well exploration drilling program in the Flemish Pass basin offshore Newfoundland and Labrador. The wells, both within tie-back vicinity to Statoil’s 2013 Bay du Nord discovery, were dry holes.
Read more... (source: www.ogj.com)


AWE begins drilling of Waitsia-4 appraisal well
10 July 2017, 4:18pm
AWE Ltd., Sydney, has spudded the last well in its 2017 appraisal program in Waitsia gas field onshore the northern part of the Perth basin in Western Australia.
Read more... (source: www.ogj.com)



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