Ratings agency Moody's has painted a bleak picture for 2016 for the upstream oil and gas industry. The firm predicts a prolonged period of oversupply will keep oil prices lower for longer and continue to pressure issuers in the oil and gas industry in 2016…
Houston-based Helix Energy Solutions and Jurong Shipyard entered into a second amendment to delay the construction of Helix’s Q7000 newbuild semisubmersible well intervention vessel. Image from Helix Energy Solutions…
In February 2011, Maersk Oil's Gryphon FPSO suffered significant damage in heavy storms in the turbulent North Sea. After nearly 20 years of uninterrupted service, the FPSO had to leave the Gryphon field for the first time for repairs and upgrade…
Carnarvon Petroleum has announced that operator Quadrant Energy has spud the Roc-1 well on 24 November 2015. Drilling is expected to reach 4700m total depth, and take about 35-40 days trouble free. Well logging and sidewall coring is expected to take about 5-10 days on success case…
Lundin Petroleum has started drilling exploration well 7130/4-1 on the Ørnen (Eagle) prospect. Ørnen is in PL708, on the eastern parts of the Finnmark Platform in the southern Barents Sea. The reservoir is expected to consist of Upper Permian carbonates…
Premier Oil has spudded its latest Falklands Islands exploration well. The 14/20-2 Isobel - 2 well in the North Falklands basin is a second attempt on the Isobel Deep area, after drilling in May hit oil shows in a suspected high pressure formation…
Two seismic acquisition campaigns are due to start offshore Myanmar in coming weeks according to reports of a notice in state media from the country. UK-based BG Group and Australia’s Woodside Energy will both start 3D campaigns later this month using the Ramform Sovereign and Ramform Titan…
Quadrant Energy received the Noble Tom Prosser drilling rig that will mobilize to the Roc-1 well site in WA-437-P offshore Western Australia, and prepare for spud around 17 November 2015, according to partner Carnarvon Petroleum. The Roc-1 well…
Cairn Energy has started a new 3D seismic survey over the Sangomar Deep, Sangomar and Rufisque permits, offshore Senegal. The Polarcus Adira 3D seismic vessel is acquiring data in the north and east parts of the permits along trend from…
Mozambique is looking forward to some US$691 million spending on exploration after naming successful bidders in its fifth licensing round. ExxonMobil, with partner Rosneft, has led the pack in bids to win new acreage, including deepwater areas…
Technip has been was awarded the first contract to supply flexibles for the giant Libra field offshore Brazil. The contract will also see the first 8in oil production pipes to be installed in Brazil's pre-salt area. Libra Oil & Gas BV…
Africa-focused explorer FAR has agreed a farm-in option deal with Trace Atlantic Oil on the shallow water Djiffere block offshore Senegal, containing at least one lead potentially containing 100 MMbbl, says FAR. Djiffere sits adjacent to the prospective Rufisque…
Transocean and the state of Alabama have agreed to a US$2 million settlement stemming from 2010’s Deepwater Horizon disaster. The Deepwater Horizon. Image from EPA. Governor Robert Bentley announced the settlement this week…
Petrobras announced a further hydrocarbon discovery at the giant pre-salt Libra field in the Santos basin, offshore Brazil. The Brazilian national said that well 3-BRSA-1310-RJS, in the central portion of the block, identified the presence of hydrocarbons in a low-porosity reservoir…
North Energy has signed a sale and purchase agreement with Pure E&P Norway, whereby North Energy sells its 10% interest in production license (PL) 708 to Pure. The effective date of the agreement is set at 1 January 2015, and the transaction…
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