Chevron has said it is canceling plans to drill for oil in the Beaufort Sea in Canada's Arctic because of economic uncertainty in the industry as oil prices fall. Beaufort Sea map. From Chevron. The…
Oil exploration in the Bahamas has taken a step forward after a new Petroleum Act and regulations to guide and govern oil exploration in was placed before the Parliament of The Bahamas. The draft legislation is now likely to go through…
ExxonMobil signed a production sharing agreement (PSA) with the Cote d'Ivoire governmentfor two ultra deepwater blocks in the Gulf of Guinea. The PSA is for the Blocks CI-602 and CI-603 located in the southern Ivory Coast. CI-602 covers 3874sq km and CI-603 covers 5543sq km…
Freeport-McMoRan Oil & Gas and partner Pura Vida Energy are planning to drill an up to US$136 million well offshore Morocco targeting 'well over' 1.4-3 billion barrels total gross mean resources. The well, Mazagan-1 (MX-1), which contains the Ouanoukrim prospect…
SKF USA and Vantage Drilling combined resources to improve the reliability of the Vantage Titanium Explorer and Platinum Explorer drill ship fleet. Titanium Explorer. From Vantage. These…
Newfoundland and Labrador’s latest exploration licensing round has resulted in a $559 million bid led by ExxonMobil – the largest bid in the province’s history for a single parcel. ExxonMobil bid as part of a consortium with Canada’s…
The production test for Eni’s Minsala Marine 1 NFW exploration prospect, in shallow waters offshore Congo is complete. Map from Eni. Minsala Marine 1 NFW, located in the Marine XII block…
CAMAC Energy Gambia awarded Polarcus a contract to acquire a 3D seismic survey offshore Gambia, West Africa. The Cajun Express. From FAR. The surveys will cover approximately 1504sq…
Mexico has opened bidding for oil exploration rights in 14 areas of the Gulf of Mexico to domestic and international companies after upstream oil regulator, Comision Nacional de Hidrobarburos (CNH), this week approved rules for the first part of Bid Round 1…
Private equity back exploration outfit EPSI has made a NOK6/share offer for the remaining shares of Norwegian exploration firm Rocksource, valuing the firm at US$82 million. EPSI, a HitecVision VII investment, initially increased its holding in Rocksource to 33…
China National Offshore Oil Corp. (CNOOC) and Kuwait Foreign Petroleum Exploration Co. (KUFPEC) signed three production sharing contracts (PSC) for Blocks 52/22, 52/26, and 63/13 located in the Yinggehai basin, in the South China Sea. According to the terms of the PSCs…
Maersk Oil spudded the Xana (Gita South) exploration well in license 9/95 on the Danish continental shelf, according to partner Norwegian Energy Company ASA (Noreco). The well is being drilled by the Noble Sam Turner jackup. The main target is upper Jurassic sandstones…
Total is changing things up by restructuring its exploration and production branch into five geographical divisions, an exploration division and five functional divisions. Image from Total. Changes…
For Western-based service companies whose products or personnel were at work in the waters off the Russia, projects that were already complex by virtue of the location became substantially more so with the recent Western sanctions against the Russian Federation…
BG Group hit first gas from the program’s first well at the Starfish field, offshore Trinidad and Tobago. Image of Starfish. From BG Group. Located in the East Coast Marine Area (ECMA) of Trinidad…
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