ExxonMobil has signed a production sharing contract (PSC) with the government of Equatorial Guinea for a deepwater block located 36mi west of the country's capital city, Malabo. Exxon will operate deepwater Block EG-11 with 80% working interest…
Petrobras shared innovations and efficiency gains related to the Libra field at the Offshore Technology Conference (OTC) in Houston. Petrobras says collaboration between Libra area partners has produced a US$13/bbl reduction to the project's breakeven price…
Ophir Energy's Fortuna LNG development is a step closer to reality after signing an umbrella agreement, which sets out the legal and fiscal framework for the project. Ophir, the Republic of Equatorial Guinea, OneLNGSA and La Compañía…
Operator Engie E&P Norge has awarded contracts to TechnipFMC and Aker Engineering and Technology for feasibility studies for the Cara project in the Norwegian part of the North Sea. The studies intend to show the potential, challenges and opportunities at an early stage of the development…
Test production from the Rolvsnes or Edvard Grieg South (EGS) discovery offshore Norway is expected to start in 2019, according to Rex International Holding, which holds a 30% stake in the license through subsidiary Lime Petroleum. Map of PL338C…
Trelleborg’s engineered products operation recently completed a milestone project for BW Offshore for the complete in-house design and fabrication of floating production, storage and offloading (FPSO) elastomeric bearing structures. Supplied to Premier Oil's Catcher FPSO in 2016…
The US Gulf of Mexico is leading the way to a leaner and more cost-competitive deepwater industry as it emerges from the downturn, with the most attractive projects now competing with US tight oil plays, according to Wood Mackenzie (WoodMac)…
North Sea independent explorer Jersey Oil & Gas says the Verbier prospect, due to be drilled by Statoil this summer, contains 162 MMboe mean prospective resources. The estimate - and increase on a previous 118 MMboe estimate - was made…
Statoil submitted development plans for two Norwegian Sea fields that are set to come onstream in 2020, with an investment of some US$2.3 billion (NOK 19.8 billion). The Bauge discovery will be tied in to the upgraded Njord field…
Eni's Boné exploration well in the Barents Sea is being plugged and abandoned after finding only water. The Boné well was drilled by the Scarabeo 8 semisubmersible drilling rig to a total depth of 3501m and encountered about 106m of gross water bearing reservoir…
Shell and Mitsui Oil Exploration have taken the final investment decision for phase one of the Kaikias deepwater project in the US Gulf of Mexico, in hopes of starting production in 2019. Illustration of Kaikias…
Although Australia has some of the most progressive fiscal regimes for offshore oil and gas, the country is being short-changed in LNG exports, which is on the verge of further expansion this year. Audrey Raj reports. Shell’s…
Chevron posted total earnings of US$415 million for Q4 2016, however, posted a loss for full-year 2016 that the US supermajor says were due to the low oil prices. Image from Chevron. Chevron’s Q4 2016 earnings reflected a gain…
Searcher Seismic and partner CGG have started the PSDM reprocessing of about 1668sq km of 3D seismic data in the Carnarvon Basin, Western Australia. The project comprises broadband PSDM reprocessing of the Western portion of the existing Foxhound 3D Seismic Survey…
Wintershall is to develop the Skarfjell field in the Norwegian North Sea via a subsea tieback to the nearby Engie-operated Gjøa platform. The Gjøa platform. Image from Engie/Jan Inge Haga. Skarfjell is in the northeastern North Sea…
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