An international arbitration panel has awarded ExxonMobil US$1.6 billion for Venezuelan assets seized in 2007. The World Bank's International Centre for Settlement of Investment Disputes (ICSID) decided unanimously that Venezuela has to pay damages to oil company ExxonMobil totaling $1…
Odebrecht and Teekay received a letter of intent from the Libra consortium to charter an FPSO for the extended well test campaign in the Libra area of the Santos Basin pre-salt, offshore Brazil, Petrobras announced on 10 October 2014. The…
CGG is launching its new business line, multi-physics effective 1 January 2015. The multi-physics business line will be established in the acquisition division and will build upon CGG’s strength in potential field and electromagnetic geophysical methods…
Colombian national oil company Ecopetrol awarded Ross Offshore AS a well management contract in the Caribbean. The contractconsists of total well management of Molusco 1 in RC-9, area hired with the Colombian national oil agency ANH by Ecopetrol and ONGC…
Brazil’s Petrobras hit a new gas accumulation at the Tanganika well in Block BM-ES-21 located in the Espírito Santo basin, 72km off the coast of the Espírito Santo state. The Cidade de Vitória FPSO. From Saipem…
The role 4D seismic plays in extracting more oil out of mature fields was outlined at ONS 2014 in Stavanger, Norway. Meg Chesshyre reports. Fig. 1: 4D seismic gives a clearer reservoir image. All Images from PGS…
Colombia’s oil industry has railed against a proposed tax reform presented on Saturday to the country’s congress, Reuters reported. The proposed regime aims to raise $53 trillion Colombian pesos (just over US$26 billion) from 2015-2019. Image…
Electromagnetic Geoservices ASA (EMGS) received a US$6.8 million letter of intent (LOI) for 3D EM data acquisition in Malaysia. The BOA Thalassa. From BOA. The BOA Thalassa vessel will conduct the survey…
In May 2014, Schlumberger announced the introduction of its GeoSphere reservoir mapping-while-drilling service. Claudio Paschoa discussed the new technology with Jean Seydoux, well placement and reservoir positioning program manager for Drilling & Measurements…
Claudio Paschoa discusses visualization technology with representatives of TGS, Petroleum Geo-Services, and Schlumberger. Test image of Petrel structural modeling. Photo from Schlumberger. Visualization…
Noble Energy will resume exploratory drilling in the Falkland Islands next year after acquiring and reviewing extensive 3D seismic of its 10 million acre-position. In late February 2014, London-based joint venture partner Falkland Oil…
Kongsberg Maritime’s Hugin autonomous underwater vehicle (AUV) will provide offshore operation services to several survey providers including DOF Subsea of Norway, Fugro Geoservices of Lafayette US, Northwest Maritime of Norway and AXA Engehnaria Submarina of Brazil…
Mexico’s Petróleos Mexicanos (Pemex) has signed agreements with Malaysia’s Petroliam Nasional Berhad (Petronas) and with Argentina’s YPF, to take advantage of new opportunities opening through Mexican energy reform. Heads of the three national oil companies met last week in Cancún…
Ocean Installer has been awarded a contract for SURF support work in Brazil for Saipem. The contract, which will see the Normand Clipper in Brazil for eight months, is valued at ca.US$50 million, with options to extend. Ocean Installer…
Aker Oilfield Solidtions, a part of newly spun-off firm Akastor, has been notified of a five-year contract extension from Petrobras to use the Skandi Santos, a subsea equipment support Vessel in Brazil. The extension, worth about NOK2…