Oil News


Conoco adds Senegal stake

Aug 01, 2013

US operator ConocoPhillips has agreed to acquire a 35% stake in three contiguous blocks offshore Senegal, West Africa, through two deals announced today. ConocoPhillips is to acquire a 25% interest in the three blocks from Scotland-based…

Tunisia: Circle Oil increases offshore, onshore investments

Jul 29, 2013

Irish independent Circle Oil Plc announced today that its subsidiary, Circle Oil Tunisia Ltd., has increased its stake in the offshore Mahdia license to 100%, after acquiring the remaining 30% working interest from Tethys Oil & Mining Inc…

Montara first oil

Jul 25, 2013

PTTEP Australasia achieved first oil from the Montara field in the Timor Sea off Western Australia. The Montara Venture FPSO started production at the H2 well in early June. The company expects to ramp production to 21,000bo/d with first off-take of oil from the FPSO occurring by August…

Kashagan production to start

Jul 25, 2013

North Caspian Operating Company (NCOC) began work to start production of Kashagan field in the Caspian Sea. The first phase will see production from eight wells on an artificial island complex. Wells, pipelines, and the Bolashak Onshore Processing facility have been completed…

Statoil strikes oil

Jul 24, 2013

Statoil announced a light, high-quality oil discovery at its Harpoon prospect (EL 1112) in the Flemish Pass basin, off Newfoundland, Canada. The semisubmersible West Aquarius drilled the well in about 1100m of water. Harpoon is located 500km northeast of St…

Modiin updates estimates for Yam Hadera field

Jul 22, 2013

Modiin Energy LP has updated resource estimates for the Yam Hadera field off Israel. The best estimate of gross recoverable, prospective resources at Yam Hadera is 208MMbo (revised upwards from 133 MMbo) and 3.4 Tcf of natural gas (revised upwards from 1…

Mozambique rising

Jul 17, 2013

All eyes are on Mozambique as significant natural gas finds are set to turn the East African country into a major LNG player, but are oil riches on the horizon? Mozambique’s prolific Rovuma basin holds 12 offshore discoveries within a 50km radius…

SPE Brings Student Competition to Europe

Jul 12, 2013

About 50 students from across Europe will take part in the inaugural Society of Petroleum Engineers (SPE) Europe Petro League, which will be hosted by the Aberdeen Section during the Offshore Europe conference, 3-6 Sept. This competition…

Greek exploration-bid success

Jul 12, 2013

A consortium of three companies has said it has made a successful bid for an exploration concession on the Patraikos bock, offshore western Greece. Hellenic Petroleum (operator), Petroceltic International and Edison International, will each hold a one third working interest in the concession…

Australia’s DMP announces new lease sale off Western Australia state

Jul 10, 2013

Australian bid round Australia’s Department of Mines and Petroleum (DMP) announced a new lease sale off Western Australia state. Six licenses, four onshore and two offshore, are being placed on the auction block. The offshore areas are…

Five FPSO orders for IHC Merwede

Jul 10, 2013

IHC Merwede has announced that it has signed two new contracts for the EPC (engineering, procurement and construction) delivery of offloading system packages for five FPSO vessels (floating production storage and offloading). The first…

FPS delivered to Gumusut-Kakap field off Malaysia

Jul 08, 2013

A semisubmersible floating production system for Malaysia’s Gumusut-Kakap deepwater field was delivered to be installed at the project development site offshore Sabah. The Gumusut-Kakap field is Malaysia’s second deepwater development after the Kikeh oil field…

Petrobras hits production record in May

Jul 03, 2013

Oil and natural gas production in May On May 18, 2013, Petrobras set a new pre-salt production record, with output of 322,100 bo/d. 11,000 bo/d up from the previous record of 311,500 bo/d  set on April 17, 2013. In addition to encouraging figures for pre-salt production…

$440m North Sea contract for Aker

Jul 01, 2013

Aker Solutions has won a contract worth up to US440 million to deliver the subsea production system for an oil field development in the UK North Sea. The delivery includes 25 subsea trees and six template manifolds as well as associated controls…

Kashagan readies for start-up

Jul 01, 2013

Work to start-up production on the Caspian Sea Kashagan development has begun, the North Caspian Operating Company (NCOC) has said. The first phase of the development will see oil and gas produced from eight wells on an artificial island complex in the north Caspian Sea…

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