Italian exploration and production major Eni is joining Chevron, Woodside, Ophir Energy and India's Reliance Industries, in gearing up for exploration activities offshore Myanmar after signing two production sharing contracts (PSCs). All the companies have been awarded PSCs off the country…
Oil prices are set to rise on average US$10/bbl annually towards 2020, with global liquids supply and demand balancing out in around two years, according to Oslo-headquartered oil and gas consulting and business intelligence firm Rystad Energy…
Statoil hit big at its eighth discovery offshore Tanzania at the Mdalasini-1 exploration well, with an additional 1-1.8 Tcf of natural gas. Map of Block 2. From Statoil. Mdalasini…
Petrobras appointed Luciano Galvao Coutinho as chairman of the board after receiving Guido Mantega’s resignation on 26 March. Image of Petrobras headquarters. From OE Staff. Coutinho…
Schlumberger signed a long-term software contract with Chevron Energy Technology Company. The new contract provides universal access to the Petrel E&P software platform across Chevron’s entire earth sciences organization. 'We have…
Statoil started the first stage of the Polarled installation project with the Solitaire pipelaying vessel connecting the pipeline in the Norwegian Sea to Nyhamma. Solitaire. From Allseas. The…
The oil and gas industry is responding to the low oil price environment with exploration budget cuts in 2015 which will average 30%, leading to suggestions that exploration activity could be significantly curtailed. However in an effort to drive value…
Russian oil exploration giant Rosneft sent a cancellation notice to North Atlantic Drilling Company Ltd. (NADL) to terminate its contract for the Energy Endeavor jackup. The Energy Endeavor. From Northern Offshore…
Lundin Norway began drilling the 7220/11-2 appraisal well in the Barents Sea South. The Island Innovator. From Island Drilling. The Alta discovery is located 10-20km northeast of Lundin…
KrisEnergy began its 570sq km 3D seismic survey in Block 120, offshore Vietnam using the CGG Amadeus vessel. Map from KrisEnergy. Block 120 overlies Quang Ngai Graben and Tri Ton Horst…
KrisEnergy’s Gulf of Thailand campaign is getting off to a good start with an oil and gas discovery already made at its first exploration well, the Rossukon-2. The Key Gibraltar jackup. From Shelf Drilling…
Drilling has started on the Roald Rygg well 6706/12-3 nearby the recently drilled Snedfrid North discovery in the Norwegian Sea. Statoil is drilling on Roald Rygg using the Transocean Spitsbergen semisubmersible drilling rig. Well…
Australia's Woodside Energy has signed production sharing contracts (PSCs) for offshore blocks AD-2, AD-5, A-4 and A-7, offshore Myanmar, paving the way for the company to start exploration work in the basin. The Blocks were awarded to the company in the 2013 Myanmar Offshore Bid Round…
Independent Oil and Gas (IOG) announced that further to the award of Block 48/22c in the UK 28th offshore licensing round, the license area has been increased by 42sq km to the South and now contains the Hambleton discovery, in the North Sea…
No hydrocarbons were intersected at Karoon Gas Australia’s Kangaroo West-1 offshore Brazil. Map from Karoon. The exploration well, located in exploration block S-M-1165, reached its planned total depth of 3170m…