Oil News

 

Woodside snaps up Irish acreage

Jun 28, 2013

Australian oil and gas major Woodside Petroleum is to acquire its first offshore exploration acreage in north west Europe.  The firm, Australia's largest operator, has agreed to farm-in to three license options in the Atlantic Porcupine Basin…

BHP signs PSCs off Trinidad

Jun 21, 2013

Trinidad and Tobago announced the signing of four production sharing contracts (PSCs) with Australia's BHP Billiton for four deepwater blocks that the company had previously won in December during the country's 2012 deepwater bid round. On…

Total launches EGINA development

Jun 21, 2013

Total announced that its subsidiary, Total Upstream Nigeria Ltd. (TUPNI), operator of the OML 130 block, and co-venturers have obtained the necessary approvals from Nigerian National Petroleum Corp. (NNPC) to award the main EPC contracts to develop the offshore Egina field…

Statoil harpoons oil off Canada

Jun 19, 2013

Statoil announced a light, high-quality oil discovery at its Harpoon prospect (EL 1112) in the Flemish Pass basin, off Newfoundland, Canada. The company said it was too early to assess Harpoon's resource potential, but that it is encouraged by the results…

Shell joins Ithaca in North Sea

Jun 17, 2013

UK-based exploration firm Ithaca Energy has agreed farm-out deals with Edison International and Shell on North Sea blocks. Shell is to take a 50% stake from Ithaca in production license P2048, covering central North Sea blocks 29/24, 29/25…

Draugen: Exceeding expectations

Jun 13, 2013

Draugen was the first field developed in the Norwegian Sea 20 years ago—Shell now expects it to produce for a further 20 years, doubling its expected life span. Asset manager Odin Estensen explains how. The story of Draugen is more than just the story of a field…

W. Australia opens bid round

Jun 11, 2013

Australia's Department of Mines and Petroleum (DMP) announced a new lease sale for Western Australia. Six licenses, four onshore and two offshore, are being placed on the auction block. “In 2012, the Western Australian petroleum sector was valued at a record A$24…

Support for US offshore expansion

Jun 07, 2013

API Director of Upstream & Industry Operations, Erik Milito, said in a Wednesday press conference that there is broad and bipartisan support from the U.S. public and policymakers to expand access to offshore oil and natural gas development…

Johan Castberg on hold

Jun 05, 2013

Statoil announced it will delay an investment decision on its Johan Castberg project in the Norwegian Barents Sea due to unease regarding recent move by the Norwegian government to increase taxes on oil and gas producers. In addition to the tax rise…

Oil Recovery System

May 24, 2013

Vikoma International Ltd., an oil pollution and environmental technology firm that is part of Energy Environmental Group, launched the OPRS 300 oil pollution recovery system last month.   The OPRS 300’s patented discs attract oil…

Joint effort to boost EOR on UKCS

May 21, 2013

After more than 40 years of production in the North Sea, with declining production and an ever more complex and costly operating environment, it could be easy to view the basin with a “glass half empty” attitude. However, the industry…

PA Resources hits oil at Carla South

May 20, 2013

The Carla South I-7 ST-1 sidetrack to the I-7 exploration well in Block I has encountered oil in good quality sandstones. The sidetrack in Block I in Equatorial Guinea has reached a total measured depth of 3,460 m. Drill cuttings, wireline…

OTC.13: GE launches new BOP surface control system

May 07, 2013

GE Oil & Gas is launching its next-generation SeaONYX blowout preventer (BOP) surface control system and operator interface at the 2013 Offshore Technology Conference (OTC). Designed for high-speed, reliable performance in the demanding deepwater drilling environment…

OTC.13: Impact of Macondo report highlights risk aversion

May 06, 2013

US oil and gas professionals are losing their appetite for risk and are worried about rising operating costs, as they grapple with the consequences of a tougher, post-Macondo regulatory regime, according to new research published today by GL Noble Denton…

OTC.13: Equalizer unveils flange spread wedges

May 06, 2013

In his State of the Union speech, President Obama cited America's aging energy, oil & gas and petrochemical infrastructure as cause for concern and that steps should be taken to fix issues before breakdowns occur. Failures and unplanned downtime become an increasing possibility as refineries…

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