Eni Makes Major Oil Find Offshore Angola
Italian oil major Eni said on Wednesday it has made a major discovery in Block 15/06, in the Agogo exploration prospect, in the deep waters offshore Angola.The find is Angola's largest offshore discovery in years. Eni said the discovery is estimated to contain between…
ExxonMobil Makes Two Discoveries Offshore Guyana
ExxonMobil and its partners have made two additional discoveries offshore Guyana at the Tilapia-1 and Haimara-1 wells, bringing the total number of discoveries on the Stabroek Block to 12, the U.S. supermajor announced Wednesday. The discoveries build on the previously…
Panoro Completes OMV Tunisia Acquisition
London-based international independent oil and gas company Panoro Energy ASA announced Friday it has completed its $65 million acquisition of OMV Tunisia Upstream GmbH from Vienna-based integrated oil and gas company OMV.Panoro Tunisia Production AS (PTP, 60 percent…
Eni Makes New Oil Find Offshore Angola
Italy's Eni said it ha struck a new oil discovery in the Afoxé exploration prospect located in Block 15/06, offshore Angola.The discovery, estimated to contain between 170 and 200 million barrels of light oil in place, was made in the Afoxé-1 NFW well located in the southeast area of Block 15/06…
ExxonMobil, Hess Announce Oil Discovery Offshore Guyana
ExxonMobil and the Hess Corporation announced an eighth oil discovery offshore Guyana at the Longtail-1 well, creating the potential for additional resource development in the southeast area of the Stabroek Block. The companies said approximately 78 meters of high-quality, oil-bearing sandstone reservoir was encountered.
ExxonMobil Announces Oil Discovery Offshore Guyana
Exxon Mobil Corporation announced its sixth oil discovery offshore Guyana since 2015, following positive results from its Ranger-1 exploration well. The Ranger-1 well discovery adds to previous discoveries at Liza, Payara, Snoek, Liza Deep and Turbot, which are estimated…
Statoil Buys Stake in Brazilian Licence BM-S-8
Statoil ASA and Queiroz Galvão Exploração e Produção (QGEP) have signed an agreement for Statoil to acquire QGEP’s 10 percent interest in the BM-S-8 licence in Brazil’s Santos basin. The additional 10 percent equity will increase Statoil’s operated interest in the licence from 66 percent to 76 percent.
ExxonMobil Earns $7.8 Bi in 2016
Exxon Mobil Corporation today announced estimated 2016 earnings of $7.8 billion, or $1.88 per diluted share. An asset recoverability review was completed in the fourth quarter and resulted in a U.S. Upstream asset impairment charge of about $2 billion mainly related…
Petrobras' Production Crosses 1 bln barrels
On Wednesday, December 14, Petrobras and its partners celebrated a milestone: they have now produced 1 billion barrels of oil in the pre-salt layer. This total output was achieved just six years after the first production system came on stream in Santos Basin, in Lula field…
Sinopec to build Tarim Crude Production Hub
Sinopec, China's second largest oil and gas group, will build a crude production hub with a 1.5 million tonnes annual capacity in Tarim basin between 2016 and 2020, the company said on its official Weibo microblog on Monday. Sinopec's Shuibei oil field, a new discovery in the middle west of the Tarim basin…
Statoil Invests in Brazilian Mega-field
Statoil ASA and Petróleo Brasileiro S.A. have agreed that Statoil will acquire Petrobras’ 66% operated interest of the BM-S-8 offshore licence in Brazil’s highly prolific Santos basin. The acquisition includes a substantial part of the Carcará oil discovery, one of the largest discoveries in the world in recent years.
Petrobras Begins Early Production in Sépia Pre-salt
The Early Production System in the Sépia area (formerly the Nordeste de Tupi area) has commenced operations in the Santos Basin pre-salt layer. The FPSO Cidade de São Vicente floating platform is set to produce around 20,000 barrels of oil per day during the test period.
Cairn Confirms Successful Senegal Appraisal
Cairn informed that the successful testing of the SNE-2 appraisal well offshore Senegal with positive results. Operations have been safely and successfully completed following drilling, coring, logging and drill-stem testing (DST). The well is now being plugged and abandoned.
China's Saudi 2016 Crude Contracts Unchanged
Saudi Aramco to ship 1.1 mln bpd contract crude to China in 2016; share of China crude imports at 15 pct, down from 20 pct in 2012. Saudi Arabia has extended annual crude oil contracts with China for 2016 at almost unchanged volumes for a third year, as Chinese buyers…
Statoil Picks MacGregor Mooring Systems for Hywind
MacGregor, part of Cargotec, has won an order for substructure connection mooring systems for the world's first floating offshore wind farm: Statoil's Hywind pilot park in Scotland. MacGregor will be responsible for the delivery of the Pusnes substructure mooring connection…
Petrobras Confirms Oil Potential in Carcará
The drilling of the third well in the Carcará area (Block BM-S-8) in the Santos Basin´s ultra-deep waters has confirmed the light oil potential of pre-salt reservoirs. Well 3-SPS-104DA, informally known as Carcará Northwest, is within the Discovery Evaluation Plan area of discovery well 4-SPS-86B (Carcará).
Exxon Profit Falls by half to $4.2 Bln
Exxon Mobil Corporation today announced estimated second quarter 2015 earnings of $4.2 billion, or $1 per diluted share, compared with $8.8 billion a year earlier. Higher Downstream and Chemical earnings were more than offset by the impact of weaker Upstream realizations and lower asset management gains.
Saipem Scarabeo 3 Spuds Aje Well
Panoro Energy ASA , the independent E&P company with assets in Nigeria and Gabon, informed that drilling has commenced on the Aje-5 production well on the OML 113 license, offshore Nigeria. The well is being drilled with the Saipem Scarabeo 3 semi-submersible drilling rig.
ExxonMobil Makes Oil Discovery Offshore Guyana
Exxon Mobil Corporation announced an oil discovery on the Stabroek Block, located approximately 120 miles offshore Guyana. The well was drilled by ExxonMobil affiliate, Esso Exploration and Production Guyana Ltd., and encountered more than 295 feet (90 meters) of high-quality oil-bearing sandstone reservoirs.
Petrofac Expects Further Loss on Shetland Project
Shares fall as much as 14 pct. Petrofac Ltd said its loss on the Laggan-Tormore project in the Shetland Islands would now be larger than it expected, highlighting the hostile operating conditions and high costs faced by oil and gas developers in the North Sea. The…
