Enhanced Oil Recovery News

 

Norway's Northernmost Oil Find Could Start Production in 2026

11 hours ago

Austria's OMV and partners plan to invest up to $6 billion initially to develop the Arctic Wisting oil find, Norway's northernmost oil discovery, which could start production within a decade, a senior executive said on Wednesday.OMV owns a 25 percent stake in the Wisting license and the other stakeholders are Norway's Equinor, Norwegian state-owned firm Petoro and Japan's Idemitsu.OMV said on Monday that the recoverable resource estimate of the find had increased to 440 million barrels of oil…

Petrobras 2018 Production Shy of Target

12 hours ago

Petroleo Brasileiro produced an average of 2.03 million barrels per day (bpd) in Brazil last year, the oil company said in a statement on Tuesday, just below the company's target of 2.1 million bpd.Petrobras' total production of oil and natural gas was 2…

Tullow to Boost 2019 Output

12 hours ago

Africa-focused Tullow Oil's production is set to grow to between 94,000 and 102,000 barrel of oil equivalent per day (boed) this year, it said in a trading update on Wednesday, from 90,000 boed last year as it increases output in Ghana.Free cash flow stood at $400 million…

Exxon to Be Indonesia's Top Oil Producer

13 hours ago

Exxon Mobil Corp unit Exxon Mobil Cepu Limited is expected to produce 216,000 barrels per day of crude oil in 2019, making it Indonesia's biggest oil producer, the country's upstream oil and gas regulator (SKKMigas) said.In second place Chevron…

BP Gives Up Acreage Offshore Nova Scotia

Jan 15, 2019

BP Canada is scaling back its oil and gas exploration plans off Nova Scotia, as the Canada-Nova Scotia Offshore Petroleum Board (NSOPB) said the company is giving back 50% of the area included in its license.According to NSOPB, half of the area…

L&T Consortium Wins EPCI Order from Saudi Aramco

Jan 15, 2019

L&T Hydrocarbon Engineering (LTHE), a wholly owned subsidiary of Larsen & Toubro Limited  (L&T), said that it has, in consortium with Subsea 7, has bagged two projects from the world's largest oil company Saudi Aramco.The company which serves the Oil and Gas sector around the world…

Access to Pipelines Curbing Norway Forecast

Jan 15, 2019

The latest communique out of Norway to indicate the return of “good times” offshore also warns that post-2014 short-termism may have contributed to conditions requiring, ironically, more haste to keep production from plummeting by 2025.Noting 2018’s higher exploration well count (53 vs…

Seven New Wells Planned at Gullfaks

Jan 15, 2019

Norwegian energy company Equinor announced that the Gullfaks partners have decided to move forward with a NOK 2.3 billion plan to drill seven new wells at Norway’s fourth largest oil field and improve oil recovery by 17 million barrels.“Our…

Norway Supreme Court Hears Snow Crab Case with Implication for Oil

Jan 15, 2019

Norway's Supreme Court began hearing arguments on Tuesday on whether EU ships can fish for snow crab off Arctic islands north of Norway without permission from Oslo, a case that could decide who has the right to explore for oil in the region…

Norway Awards Record Number of Exploration Blocks

Jan 15, 2019

Norway awarded a record 83 blocks to explore for petroleum resources in mature areas of the Norwegian continental shelf, in a sign of continuing interest from oil companies in the country's oil sector, the energy ministry said on Tuesday.A lack…

Barclays Rejects Arctic Drilling

Jan 15, 2019

U.K.-based international bank Barclays  announced a new energy policy that significantly restricts the bank’s financing for the exploration or extraction of oil and gas in the Arctic.The policy  rules out funding for companies seeking to drill…

OMV Reports 10% Rise in Q4 Output

Jan 14, 2019

Austrian oil and energy group OMV reported a 10 percent quarter-on-quarter rise in fourth-quarter oil and gas production on Monday.Output rose to 447,000 barrels of oil equivalent per day (boe/d) from 406,000 boe/d in the previous quarter, it said…

Premier Oil Eyes North Sea Deals

Jan 14, 2019

Britain's Premier Oil Plc said on Monday it was looking to buy U.K. North Sea assets, after the Sunday Times reported that it was preparing to tap shareholders for cash to help it buy about $1.5 billion worth of oil fields.The company's shares fell as much as 12…

Eni, Thailand's PTTEP Win Adnoc Exploration

Jan 14, 2019

Italy's Eni SpA and Thailand’s PTT Exploration and Production Pcl secured rights to explore for oil and natural gas in Abu Dhabi from the Abu Dhabi National Oil Company (Adnoc), following Abu Dhabi’s first competitive block licensing round.A tweet from Adnoc said…

Wellit Partners with Norvestor

Jan 11, 2019

The owners of software company Wellit have decided to sell 60 percent of company shares to private equity company Norvestor.Wellit develops logistics solutions for the global oil and gas industry. Its software, WELS, is a cloud-based multi-tenant platform tailored to the oil and gas industry…

Current News

Decommissioning in Brazil: The New Frontier

Decommissioning in Brazil: The New Frontier

Norway's Northernmost Oil Find Could Start Production in 2026

Norway's Northernmost Oil Find Could Start Production in 2026

Woodside Awards Scarborough FEED Contracts

Woodside Awards Scarborough FEED Contracts

Subsea 7 Acquires Sealion Vessel

Subsea 7 Acquires Sealion Vessel

Petrobras 2018 Production Shy of Target

Petrobras 2018 Production Shy of Target

Tullow to Boost 2019 Output

Tullow to Boost 2019 Output

Statfjord A Platform Back in Action

Statfjord A Platform Back in Action

Subscribe for OE Digital E‑News

OE Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week