Africa-focused Tullow Oil will abandon its first well in Namibia, but data gathered in the project indicated it might strike lucky in another attempt, it said on Monday.'The Cormorant-1 exploration well in the PEL-37 licence, offshore Namibia…
Offshore rig firm Borr Drilling, controlled by Norwegian investor Tor Olav Troeim, is proposing to buy its rival Paragon Offshore for $232.5 million in a push to consolidate the fragmented rig market, it said on Thursday. A plunge in oil…
Tullow oil is aiming to start drilling on the Cormorant prospect in the Walvis Basin offshore Namibia at the start of September next year [2018], according to partner Pancontinental. The Cormorant prospect, in about 550m water depth, is part of exploration license in PEL 37…
ONGC has officially entered offshore Namibia, following the completion of its 30% stake deal of Namibia Petroleum Exploration License 0037 from Tullow. ONGC subsidiary ONGC Videsh completed the acquisition of 30% participating interest…
Hansa Hydrocarbon's N05-1 exploration well offshore the Netherlands on the GEms licences has made a significant has discovery. Map of Geldsackplate. From Hansa. The Ruby discovery extends across the N04…
Finding a way to tap the North Sea’s estimated 3.4 billion of resources currently locked up in marginal pools has become a perennial problem. Elaine Maslin looks at a past solution and ideas for today outlined at an SUT Aberdeen event earlier this year…
Marginal fields don’t always turn out to be that marginal, especially when you have efficient topsides and an ability to find hidden pockets in your reservoir. Elaine Maslin reports. Hummingbird Spirit…
India's ONGC Videsh has signed definitive binding agreements with Tullow Oil to acquire a 30% stake in a license offshore Namibia, marking its entry into the Namibian offshore. Namibia Petroleum Exploration License 0037 covers Blocks 2112A…
Centrica is investing £35 million in the North Sea Chestnut field, drilling a new production well which aims to more than treble production. The well is expected to also extend the life of the field, which otherwise would have been shut in later this year…
Tullow Oil is delaying plans to drill PEL-37 offshore northern Namibia, suggesting that further work is required to identify a drillable prospect. The drilling of the first exploration well was to start no later than 27 March, provided…
UK-based semisubmersible rig operator Awilco Drilling has said global floater fleet utilization could finally start to recover from 2018. The firm says the decline in exploration and production spending seems to be bottoming out in 2017…
The Board of Directors of Paragon Offshore has appointed Dean E. Taylor, a member of the Board, to serve as interim president and chief executive officer, effective immediately. Taylor, who has served as a director of the company since its founding in 2014…
Paragon Offshore has won a short-term contact with Centrica for the B391 jackup, offshore the UK. The B391 will preform light well intervention work from late-October to late-November 2016 at a dayrate of US$53,000. Centrica and Paragon…
Paragon Offshore and its lenders have entered into an agreement to revise the company's restructuring plan in hopes to emerge from its bankruptcy process later this year in October. The Paragon MSS1…
Offshore drilling firm Paragon Offshore has picked up two contract extensions, having reduced day rates. In the Middle East, a contract with ADMA OPCO for the M1162 jackup has been extended from mid-January 2017 to late January 2019 and…