Ophir Energy signed a production sharing contract (PSC) with the Myanmar Ministry of Energy to finalize the award of Block AD-03, offshore Myanmar. Upon the terms of the agreement, Ophir will be the operator with a 95% interest in the 10…
Stone Energy’s Cardona deepwater development in the US Gulf of Mexico came online in November ahead of its sanctioned schedule and under budget. Image from Stone Energy. Cardona is located…
While high development costs are deeming many Australian liquefied natural gas (LNG) projects economically unfeasible, the country should stay focused on these rather than gambling on floating liquefied natural gas (FLNG) technology too soon…
Petróleos Mexicanos (Pemex) installed the CA-Litoral-A production processing and compression platform in the Tsimin-Xux development project in the Bay of Campeche, Gulf of Mexico (GoM). Image from Pemex…
Petrobras hit first oil with the floating production and storage offloading unit (FPSO) Cidade de Ilhabela in the Sapinhoá field in the pre-salt Santos basin, offshore Brazil. Cidade de Ilhabela. From BG Group…
Middle East upstream growth will continue despite the current oil price dip, and the region is technology hungry. Hugh Fraser, Managing Partner, Dubai, for law firm Andrews Kurth, explains. The Middle East upstream market is growing…
Singapore’s Keppel is in a deal with Malaysia’s Petronas to buy up to 1 million-tonne of liquefied natural gas (LNG) per year, over a period of 10 years. The deal is between Keppel Infrastructure Holdings through its indirect wholly-owned subsidiary…
While the specific terms of Mexico’s new contractual frameworks for its oil and gas industry are yet to be announced, the regime appears an attractive one and should be conducive to active bidding, according to an analyst with research and consulting firm GlobalData…
Energy services company Proserv has signed an agreement to be acquired by major US private equity investor Riverstone Holdings LLC. Riverstone Global Energy and Power Fund V, LP, in partnership with Proserv management, will acquire 100% of Proserv shares from Intervale Capital…
ConocoPhillips kicked-off the drilling campaign on its Eldfisk II project with Maersk Innovator. Five wells have been pre-drilled, and the drilling operations of the remaining 35 wells has now begun. Eldfisk II is one of four fields that comprise the Greater Ekofisk Area…
US-based Endeavour International is seeking bankruptcy protection after agreeing a restructuring agreement with some creditors. The company’s debt totals about US$1.2 billion, according to Chapter 11 papers filed in US Bankruptcy Court in Wilmington…
BP is due to restart production at the high-pressure, high-temperature (HPHT) Rhum gas field in the UK North Sea, four years after the field was shut in due to Western sanctions against its 50% owner, Iran. A BP spokesperson said today that production was due to restart soon…
Petrobras has begun production from FPSO Cidade de Mangaratiba, located in Block BM-S-11 of the giant Lula field. The start-up represents the first in the Iracema Sul area of the presalt Santos basin, located 300km off the coasts of the Rio de Janeiro and São Paulo states…
Uncertainty, high costs and low exploration rates are continuing to hamper the North Sea, according to a report published today (10 October). Business advisory firm Deloitte’s Petroleum Services Group’s report says that exploration rates remain low…
UK exploration independent Enegi says the Phoenix discovery in the central North Sea is a viable candidate for its marginal field initiative. Phoenix, in Block 22/12b, was operated by Apache. In 2010, Apache, drilled the 22/12a-12 appraisal well…
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