Timor Gap and Timor-Leste JV Gas Project Majority owned by Santos
Santos, the majority joint venture owner in Timor-Leste, announced on Monday that Timor Gap, a state-owned Timor-Leste oil company has acquired a 16 percent interest in Bayu-Undan's gas project. Timor Gap is now a member of the Bayu-Undan JV which includes SK E&S…
ConocoPhillips sells 16.5 pct of North Sea Asset to BP
U.S. oil producer ConocoPhillips said on Tuesday it would sell a 16.5 percent stake in the Clair field to oil major BP for an undisclosed price. Houston, Texas-based ConocoPhillips will retain a 7.5 percent interest in the North…
Eni Establishes Long-term Presence in UAE
Eni signed in Abu Dhabi two Concession Agreements for the acquisition of a 5 percent stake in the Lower Zakum offshore oil field and of a 10 percent stake in the oil, condensate and gas offshore fields of Umm Shaif and Nasr,…
No Bidders for Tie-up in Ayin-Batsil Offshore Oil Field
There were no bidders in an auction to partner with Mexican national oil company Pemex on its offshore Ayin-Batsil project, the industry regulator said on Wednesday, in a setback for the opening of the country's energy sector to private capital.
Total to Maintain 300,000 bpd Output from Al Shaheen Oilfield
Total CEO Patrick Pouyanne aims to maintain production of 300,000 barrels a day from the Qatari offshore Al Shaheen oilfield for "many years", he said on Tuesday. Pouyanne was speaking at a news conference in the Qatari capital…
McDermott Wins EPCI Contract from Saudi Aramco
McDermott International, Inc. has been awarded a contract from Saudi Aramco for engineering, procurement, construction and installation (EPCI) services in the Safaniya and Zuluf fields offshore Saudi Arabia. The brownfield project…
Volatility and Cyclicality in Oil Prices - will this time be different? Kemp
Extreme volatility and strong cyclicality have been the defining characteristics of oil prices and the industry since the first modern oil well was drilled in Pennsylvania in 1859. Oil prices are much more volatile than the prices of manufactured goods or services…
Dutch Investigators Visit Shell HQ in Nigeria Oil Probe
Royal Dutch Shell said on Wednesday Dutch investigators recently visited its headquarters in the Hague in the Netherlands in relation to an investigation into a Nigerian offshore oil field. "Representatives of the Dutch Financial…
ANP Requests Extension of Petrobras' Marlim Rights
Brazil's oil industry regulator ANP on Thursday asked the government to extend the concession to operate the giant Marlim offshore oil field of state-run oil company Petroleo Brasileiro SA that is scheduled to expire in 2025.
Roncador Field Still Flowing Despite Strike
Production from the giant Roncador offshore oil field in Brazil's Campos Basin continued on Wednesday after workers on the field's production vessels joined a four-day strike, an oil workers' spokesman said, denying media reports of an output shutdown.
HHI Orders Refrigeration, Cold Stores for FPSO
Goliat, the first cylindrical floating production, storage and offloading (FPSO) vessel on the Norwegian Continental Shelf built for Eni Norge and partner Statoil at Hyundai Heavy Industries (HHI), will feature ALMACO’s cold stores and refrigeration machinery.
Petrobras: First Oil From Anadarko-led US Offshore Field
Brazil's state-run oil company Petroleo Brasileiro SA said on Monday that it produced its first oil from the Lucias offshore oil field in the Gulf of Mexico with project leader Anadarko Petroleum Corp and four other partners.
Eni CEO Never Considered Resigning Over Nigeria Probe
Claudio Descalzi, the CEO of Italy's Eni, has never considered offering his resignation following his involvement in a Nigerian corruption probe being carried out by Milan prosecutors, the chairwoman of the oil major said on Wednesday.
Gazprom Neft Seeks Alternative Suppliers
Prirazlomnoye is Russia's first Arctic offshore oil field. Gazprom Neft sticks to plans at the field, by 2020 as a whole; Executive says "nothing unique" in drilling for shale oil (Adds details, quotes, color, background). PRIRAZLOMNAYA OIL PLATFORM…
Qatar Petroleum plans to invest over 40 billion QAR
Qatar Petroleum (QP) announced plans to invest over 40 billion Qatari Riyals (QAR) in the re-development of the existing Bul Hanine offshore oil field located about 120 kilometers to the east of the Qatari coastline. The project…
QP Spending $11 bln Redeveloping Offshore Oil Field
State-owned Qatar Petroleum (QP) said it would invest over 40 billion Qatari riyals ($11 billion) to redevelop the Bul Hanine offshore oil field to prolong its life and increase its output. The field off Qatar's east coast currently produces around 40…
Saipem: No Complaints about Kashagan Leaks
Italian oil industry services company Saipem said on Tuesday it had not received any complaint regarding pipes it laid for the giant Kashagan offshore oil field in Kazakhstan where production has been halted due to leaks in the network.
