Total Launches New Supercomputer
Energy major Total said its new supercomputer - which has propelled it to a world ranking as the most powerful computer in the sector - will enable its geologists to find oil faster, cheaper and with a better success rate.The Pangea III computer build by IBM will help process complex seismic data in the search for hydrocarbons 10 times faster that before…
Total Makes Discovery Off South Africa
French oil and gas major Total said it had made a significant gas condensate discovery after drilling its Brulpadda prospects on Block 11B/12B in the Outeniqua Basin, offshore South Africa.Total said the Brulpadda well encountered 57 meters of net gas condensate pay in Lower Cretaceous reservoirs. The well was deepened to a final depth of 3…
Total Plans Biggest Exploration Drive in Years
Total is launching its biggest exploration campaign for years in 2019 as part of a turnaround plan that is ditching the company's focus on risky long-shots in favor of areas known to contain commercial levels of oil or gas.The French major aims to drill 23 wells this year, its senior vice president for exploration, Kevin McLachlan, told Reuters…
Glengorm Discovery Highlights UKCS Potential
CNOOC announced Tuesday it has made a significant discovery on the Glengorm prospect, located in the Central North Sea of the U.K. continental shelf (UKCS), with recoverable resources estimated at close to 250 million barrels of oil equivalent.The exploration well was drilled in License P2215 in approximately 86 meters water depth to a total depth of 5…
Total Reinforces its Exploration in West Africa
Total and the National Office of Petroleum of Guinea (ONAP) signed a Technical Evaluation Agreement to study deep and ultra deep offshore areas located off the coast of Guinea Conakry, covering approximately 55,000 square kilometers. “By taking this position on a new under-explored area, Total pursues its exploration strategy targeting deep offshore prospective basins…
Oil Industry Renews Deepwater Quest
Oil price recovery, low service cost boost offshore exploration; firms slash costs of deepwater projects by 50 pct. Deepwater oil drilling can be expensive, time-consuming and a hard sell to investors. But the world's top energy firms are restarting their search for giant oilfields under the ocean after a two-year lull. A recovery in oil prices…
Total to Resume South African Offshore Drilling
French oil major Total is expected to resume drilling offshore South Africa in the second half of 2016, part of a broader campaign to explore in Africa, a senior official said on Wednesday. Total last year stopped drilling off the southern coast of South Africa after experiencing mechanical problems with its rig during high winds and rough seas in the Outeniqua Basin…
Total Shedding More Assets, Cuts Output Estimate
Cuts 2017 output target, 2015 free cash flow goal, keeps 2017 free cash flow goal at $15 bln. French oil company Total is to sell more assets and cut costs to generate more cash and is to revamp exploration plans after reducing its oil production target. Total, which has struggled with production outages in Libya, Kazakhstan and Nigeria, on…
