Renco Elang Energy's (REE) South Block A production sharing contract (PSC) in north Sumatra, Indonesia was granted at 19-month exploration extension from the Indonesian Ministry of Energy and Mineral Resources. According to Peak Oil & Gas…
The Kenli 10-1 field offshore China is now online, according to China National Offshore Oil Corp. (CNOOC). Image from CNOOC. Production at the field located in Bohai Bay began on 23 April at an average water depth of 17m…
Advanced downhole tool for well intervention designer and manufacturer Peak Well Systems has completed a new gas pressure testing facility in Aberdeen (UK) as part of its research and development commitment to provide oil and gas operators with advanced and reliable plug systems…
CNOOC began production at its 100% owned and operated Jinzhou 9-3, offshore China. Image from CNOOC. The Jinzhou 9-3 oilfield is located in the North Liaodong Bay in Bohai in 6.5-10…
An underlying growth in global supply capacity, which is significantly outstripping demand, may mean that the world has now passed the peak price for oil, a report commissioned by Gaffney, Cline and Associates (GCA) suggests. The report…
The industry is going to face more challenges than ever over the next 30 years as it strives to meet global oil and gas demand from ever harder to reach and extract resources, industry bosses say. Amin Nasser…
Kebabangan Production Oil Co. (KPOC) began gas production from the Kebabangan (KBB) gas field, approximately 60 mi. offshore Sabah, Malaysia, according to ConocoPhillips Sabah Ltd. The CHIKYU vessel. From Jamstec…
Shell began its first deepwater development in Malaysia with the Gumusut-Kakap floating platform. Shell's Gumusut-Kakap. From Shell. The Gumusut-Kakap field is off the coast of Malaysia…
Denmark is the European Union’s (EU) only net exporter of oil. The Nordic state’s oil exports totalled approximately 13.7MMboe in 2013. This is in stark contrast to the EU’s only other significant oil producer, the UK, which became a…
Specialist downhole tool provider Peak Well Systems has opened a new technology center in Dubai dedicated to its growing customer base in the Middle East and North Africa. The facility accommodates regional technical sales and engineering teams for improved customer reach…
Specialist downhole tool provider Peak Well Systems has relocated its European regional headquarters to a newly constructed, office and workshop facility in Aberdeen which will meet the needs of its expanding North Sea business. Peak’s investment…
Maersk Oil UK has been given approval from the UK and Norwegian authorities to develop the Flyndre and Cawdor fields. The fields lie about 293 km south east of Aberdeen in UK North Sea Blocks 30/13 and 30/14 (Flyndre and Cawdor) and Norwegian North Sea Block 1/5 (Flyndre only)…
Drilling operations will begin in 2H 2014 on two wells in the giant Libra field off Brazil following approval of the field’s 2014 working and investment plan. The Brazilian national Petróleo Brasileiro S.A. (Petrobras), along with Pré-Sal Petróleo S…
Chinese oil firm CNOOC says it is planning to invest RMB 105 billion (US$17.35 billion) to 120 billion ($19.82 billion) on projects during 2014. Nexen Inc, bought by CNOOC in early 2013, will account for about 19% of the spending. Overall…
A consortium of companies, including Royal Dutch Shell plc, Petrobras, Total, CNPC and CNOOC, won today a 35-year production sharing contract to develop the giant Libra pre-salt oil discovery located in the Santos Basin, offshore Brazil. The Brazilian regulator…
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