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17 January 2019
North Sabah PSC - Reserves and Contingent Resources Assessment
Hibiscus Petroleum Berhad’s indirect wholly-owned subsidiary, SEA Hibiscus Sdn Bhd (“SEAH”), had on 1 November 2018, appointed RISC Advisory Pty Ltd (“RISC”) to undertake an independent audit and provide an assessment of the reserves and contingent resources within the Barton, St Joseph, South Furious and SF 30 oil fields in…
17 January 2019
Subsea 7 Acquires Multi-purpose Offshore Construction and Dive Support Vessel
Subsea 7 has finalised the acquisition of Toisa Pegasus, a multi-purpose offshore construction and dive support vessel. The 2009-built vessel is to be renamed Seven Pegasus and will primarily support Subsea 7’s operations in the North Sea and Asia Pacific.John Evans, Chief Operating Officer said: “This acquisition reinforces our leading…
16 January 2019
Reabold Resources Plc: Wick Well Result
Reabold announced that Corallian Energy Limited, operator of the Wick well located in the UKCS Block 11/24b (Licence P2235), has informed the Company that the target Beatrice sands, whilst present in the well, were water bearing. The well has been drilled to a total depth of 1000m.Accordingly, the well will…
16 January 2019
Woodside Awards Contracts for Scarborough Project
The contracts are for engineering activities related to the upstream development’s floating production unit, the export trunkline and the subsea umbilical risers and flowlines.Each contract includes an option to progress to execute phase activities, which is subject to, among other conditions, a positive final investment decision (FID) being taken on…
16 January 2019
Gas and Condensate Discovery South of the Kristin Field
Equinor has, together with its partners Petoro, ExxonMobil and Total, proven gas and condensate in the Norwegian Sea Ragnfrid North (6406/2-9 S) exploration well. Recoverable resources are estimated at 6-25 million barrels of oil equivalent.“We are pleased to start the new year by announcing a new discovery. Exploring for resources…
16 January 2019
MDL Concludes 4-job Campaign with TechnipFMC
Maritime Developments has successfully completed a four-project North Sea campaign with TechnipFMC.The work scopes on the jobs, which took place throughout 2018, included installation and retrieval of umbilicals, jumpers, risers and flowlines.In total 16 reels were handled and close to 40km of product was installed from three different vessels, using…
16 January 2019
L&T Hydrocarbon Consortium Wins another EPCI Order from Saudi Aramco
L&T Hydrocarbon Engineering (“LTHE”), a wholly-owned subsidiary of Larsen & Toubro, in consortium with Subsea 7 has won yet another award for two projects from Saudi Aramco.The award consists of engineering, procurement, construction and installation (EPCI) of three Oil Production Deck Manifolds and Subsea Pipelines in Zuluf and Berri Fields…
16 January 2019
Investing NOK 2.3 billion to Recover More Oil from Gullfaks
The Gullfaks partners have decided to drill seven new wells and thereby improve oil recovery by 17 million barrels with good profitability. On behalf of the licence partners, Equinor’s executive vice president for Development and Production Norway, Arne Sigve Nylund, presented an amended plan for development and operation (PDO) to…
16 January 2019
Record Licence Awards in APA 2018
On 15 January, 33 companies were offered ownership interests in a total of 83 production licences on the Norwegian Shelf in the Awards in Predefined Areas (APA) 2018. This is the largest number ever awarded in one licensing round.Of the 83 production licences, 37 are in the North Sea, 32…
15 January 2019
Exploitation Permit for CO2 Storage on the Norwegian Continental Shelf
Equinor has been awarded an exploitation permit for CO2-storage on the Norwegian Continental Shelf.This was decided by King-in-council. The allocated area for storage of CO₂ is located near the Troll oil and gas field and was announced in July 2018.Equinor is currently performing front-end engineering and design (FEED)-studies on storage…
15 January 2019
Euronav Sells Suezmax Felicity for Offshore Project
Euronav NV announced that the Company has sold the Suezmax vessel Felicity (2009 – 157,667 dwt) to a global supplier and operator of offshore floating platforms. A capital loss on the sale of approximately USD 3.0 million will be recorded in Q4 2018. The cash generated on this transaction after…
15 January 2019
OMV: Increased Wisting Volumes
OMV has made a significant effort over the past year to get a better understanding of the shallow Wisting reservoir. Six wells have been drilled to date, yielding a huge amount of data. In addition, the Wisting team has successfully combined traditional seismic with Controlled Source Electro Magnetic (CSEM) in…
15 January 2019
LLOG Exploration Provides Operational Update
LLOG Exploration Company, L.L.C., a privately-owned exploration and production company focused on the deepwater Gulf of Mexico, provided a detailed update on the status of its recent successes and ongoing projects. Key highlights include: - Drilled successful discovery on LLOG’s exploratory prospect, Nearly Headless Nick, in Mississippi Canyon 387 -…
15 January 2019
Petrobras: Exercise of Pre-emption Right in the Sixth Bidding Round of Areas Under Production Sharing Regime
Petrobras reported that it formally expressed to the National Energy Policy Council (CNPE) interest to exercise the pre-emption right for the 6th Bidding Round of exploration blocks under the production sharing regime, pursuant to Law 12,351/2010 and Federal Decree 9.041/2017.Considering the parameters disclosed in CNPE Resolution no. 18 of 2018,…
15 January 2019
Equinor has Received Consent for Exploration Drilling in the Norwegian Sea
Petroleum Safety Authority Norway have given Equinor consent to drill exploration well 6507/3-13 in production licence 159B in the Norwegian Sea.The drilling site is around 13 kilometres west of the Norne field.Well 6507/3-13 has the following geographical coordinates:65º 59’ 26.44" N07º 44’ 43.02" EWater depth at the site is 368…
15 January 2019
BP and Eni to Agree to Pursue Major New Exploration Opportunity in Oman
BP and Eni signed a heads of agreement (HoA) with the Ministry of Oil and Gas of the Sultanate of Oman to work jointly towards a significant new exploration opportunity in Oman.Under the HoA, the two companies will work with the Government of Oman towards the award of a new…
15 January 2019
Ophir Rejection of Possible Offer
Rejection of the possible offer for Ophir by PT Medco Energi Global PTE Ltd (“Medco Global”) (a wholly-owned subsidiary of PT Medco Energi Internasional Tbk (“Medco”)).The Board of Ophir has now met formally to consider the possible offer announced by Medco on 11 January 2019 to acquire the issued and…
15 January 2019
Premier Oil: Statement re Market Speculation
Premier noted the press speculation regarding the possibility of the Group making a UK acquisition.Premier will continue to look at opportunities to acquire UK North Sea assets in line with the Group’s stated strategy. There is no guarantee that the Group will bid in any process or that any process…
15 January 2019
TAP Completes Successful Euros 3.9 billion Project Financing
As one of Europe’s most strategic projects, TAP successfully completed financial close in December 2018, securing Euros 3.9 billion - the largest project finance agreed for a European infrastructure project in 2018.Luca Schieppati, TAP’s Managing Director, said: “With the financial close now achieved, TAP has reached another major milestone of…
15 January 2019
Lundin Petroleum Announces Increased Reserves and Contingent Resources
Lundin Petroleum AB announced that as at 31 December 2018, its proved plus probable net reserves (2P reserves) are 745 million barrels of oil equivalent (MMboe), its proved plus probable plus possible net reserves (3P reserves) are 901 MMboe and its best estimate net contingent resources (contingent resources) are 225…
15 January 2019
Eni Signs MoU for Conducting Petroleum Exploration in Block 1 Offshore Bahrain
A Memorandum of Understanding (MoU) has been signed between the National Oil and Gas Authority of the Kingdom of Bahrain (NOGA) and Eni with the aim to pursue petroleum exploration of Block 1, an offshore area of over 2,800 km2 still largely unexplored, located in the northern territorial waters of…
15 January 2019
OGA Update: 31st Supplementary Offshore Licensing Round - Greater Buchan Area Plan
The OGA has published guidance regarding the technical aspects of applications for the forthcoming 31st Supplementary Offshore Licencing Round. Additional seismic packages (prefix AH and MH) have also been added to the Greater Buchan Area CDA data pack.More information can be found here.
15 January 2019
PGS Expands Massive Malaysia Sabah MC3D
Phase 4 of the multisensor Sabah MultiClient 3D is underway with Ramform Hyperion. Sabah is one of the largest MultiClient projects worldwide and the first ever in Malaysia.Acquisition has begun. PGS will acquire up to 10 000 sq.km of GeoStreamer data, adding to the existing 37 000 sq. km multi-phased…
15 January 2019
SEACOR Marine Expands Fleet in Share Transaction
SEACOR Marine Holdings Inc. announced the acquisition of three Fast Support Vessels (“FSVs”) in exchange for the private placement of 603,872 shares of its common stock to domestic U.S. holders affiliated with the McCall family of Louisiana.SEACOR Marine has operated the acquired vessels for the past ten years under a…
15 January 2019
The Shelf in 2018 - Barely Halfway through the Norwegian Oil and Gas Story
The Norwegian Petroleum Directorate’s forecasts show that, after a minor decline in 2019, oil and gas production will increase from 2020 and up to 2023. Overall production will then approach the record year of 2004.“The activity level on the Norwegian Shelf is high. Production forecasts for the next few years…
15 January 2019
Aker Energy Successful Pecan-4a Appraisal Well Offshore Ghana
Aker Energy, as the operator of the Deepwater Tano Cape Three Points (DWT/CTP) block, announced that it is about to complete a successful drilling operation of the Pecan-4A appraisal well offshore Ghana.The well was drilled at the Pecan field in the DWT/CTP block approximately 166 kilometres southwest of Takoradi in…
15 January 2019
Equinor Completes Acquisition of the UK Rosebank Project
Equinor and Chevron have completed their transaction announced in October 2018, whereby Equinor has acquired Chevron’s 40% operated interest in the Rosebank project in the West of Shetland region of the UK Continental Shelf.Rosebank further strengthens Equinor’s UK upstream portfolio which includes the Mariner development, expected to start commercial production…
15 January 2019
Rowan Announces Contract with ConocoPhillips for the Rowan Norway
Rowan Companies plc announced that the Rowan Norway, an N-Class ultra-harsh environment jack-up rig, has been awarded a contract in Norway by ConocoPhillips Skandinavia AS ("COPSAS") for an estimated duration of seven months that is expected to commence in the second quarter of 2019. The contract award is subject to…
15 January 2019
Azeire Announces Licence Awards in the Porcupine Basin Offshore Ireland
Azeire Ltd. (“Azeire”), an Ireland focused oil and gas exploration company backed by Seacrest Capital Group, is pleased to announce that the Minister of State at the Department of Communications, Climate Actions and Environment has approved both the extension of Frontier Exploration Licence 1/13 (FEL 1/13) for two years, and…
15 January 2019
Jan De Nul Successfully Completes First Major Umbilical Installation Project
Jan De Nul Group has successfully completed the installation and burial of the two main subsea umbilicals for the exploitation of new gas fields in the West Nile Delta concessions, located in the North Alexandria region.Specifically for this project, Jan De Nul Group reconfigured its multi-purpose vessel Willem de Vlamingh…
15 January 2019
i3 Energy Provides Operational and Funding Update
i3 Energy plc, an independent oil and gas company with assets and operations in the UK, updated the market on its operational and funding progress for the appraisal and development of its 100% owned and operated Liberator field and Serenity prospect.Highlights: - Letter of Intent signed for summer 2019 consecutive…
15 January 2019
PGS: Signed Vessel Sale Agreement for Ramform Sterling - CORRECTION
The correction is to include "FY" before 2020. Everything else is unchanged.Reference is made to PGS press release dated November 15, 2018. PGS has now signed the vessel sale agreement for the Ramform Sterling to Japan Oil, Gas and Metals National Corporation ("JOGMEC"), an incorporated administrative agency of Ministry of…
15 January 2019
Premier Oil: Trading and Operations Update
Premier provided the following Trading and Operations Update ahead of its 2018 Full Year Results, which was announced on Thursday 7 March 2019.Highlights - Estimated year-end net debt of US$2.3 billion, below previous guidance of US$2.4 billion and a reduction of US$390 million on 2017 - 2018 full year production…
11 January 2019
PGS to Map North Sumatra in 3D MultiClient Survey
The latest PGS triple-source Multiclient 3D survey, in the Andaman Basin offshore Indonesia, will enable a better understanding of current Miocene Carbonates and Miocene/Pliocene clastics plays and is expected to provide more clarity on the untested deeper syn-rift play.This project is the fourth in a series of new surveys supporting…
11 January 2019
Jack-up rig "SAGADRIL-2" Sold for Demolition
Japan Drilling Company (JDC) offshore jack-up drilling rig "SAGADRIL-2" (formerly HAKURYU-7), owned by JDC's subsidiary "Sagadril 2, Inc.", was sold on 5th January 2019. JDC decided to sell this 1981 built jack-up rig to an overseas entity for demolition. Sagadril-2 operated mainly in the Gulf in the last 20 years.
11 January 2019
Sapura Energy Secures RM760 million in Contract Wins Across Services Segment
Sapura Energy Berhad has secured RM760 million in contract wins for its Drilling and Engineering & Construction businesses. The latest achievements have lifted the value of contract wins to RM9.3 billion for its current financial year. The company’s growing order book will see a higher utilisation of its assets as…
11 January 2019
Dry Well North of the Oda Field in the North Sea – 8/10-7 S
Spirit Energy Norway AS, operator of production licence 405, has completed the drilling of wildcat well 8/10-7 S.The well was drilled about five kilometres north of the Oda field in the southern part of the North Sea.The objective of the well was to prove petroleum in Upper Jurassic reservoir rocks…
11 January 2019
Dry Well at Mandal High in the Southern Part of the North Sea – 2/6-6 S
MOL Norge AS, operator of production licence 860, is in the process of concluding the drilling of wildcat well 2/6-6 S.The well has been drilled about 45 km east of the Valhall and Ekofisk fields and 20 km north of the Norwegian-Danish border in the Mandal High area.The primary and…
11 January 2019
TechnipFMC Awarded Integrated EPCI (iEPCI™) Contract for the BP Atlantis Phase 3 Project in the Gulf of Mexico
TechnipFMC has been awarded a significant(1) integrated Engineering, Procurement, Construction and Installation (iEPCI™) contract by BP for the Atlantis Phase 3 project.Following final investment decisions from all partners, TechnipFMC will manufacture, deliver and install subsea equipment, including subsea tree systems, manifolds, flowline, umbilicals and subsea tree jumpers, pipeline end terminations,…
11 January 2019
BP Plans for Significant Growth in deepwater Gulf of Mexico
BP announced that it has approved a major expansion at the Atlantis field in the U.S. Gulf of Mexico and has also identified significant additional oil resources that could create further development opportunities around the production hubs it operates in the region.The $1.3 billion Atlantis Phase 3 development is the…
10 January 2019
Aqualis Offshore Sets up Office in Australia
Marine and engineering consultancy Aqualis Offshore has set up an office in Perth, Western Australia, to support oil and gas developments in the Australasia region. Aqualis Offshore is part of Oslo-listed energy consultancy group Aqualis ASA. “We have supported important projects offshore Australia in recent years and believe it represents…
10 January 2019
Boskalis Signs Multi-year Subsea Services Contract in Middle East
Royal Boskalis Westminster N.V. has signed a multi-year subsea services agreement in the Middle East. The base value of the three-year contract amounts to USD 40 million with an option to extend.Under the terms of the contract commencing, Boskalis will carry out a broad spectrum of subsea IRM services including…
10 January 2019
Consent for use of West Elara at Eldfisk
Petroleum Safety Authority Norway have given ConocoPhillips Skandinavia AS consent to use the West Elara mobile drilling facility for production drilling on the Eldfisk field.The consent comprises the drilling of production and injection wells for the Eldfisk 2/7 S facility.The drilling activities are scheduled to begin in Q1 2019.West Elara…
10 January 2019
Wellesley Receives Consent for Exploration Drilling in the North Sea
Wellesley is the operator for production licence 871 in the North Sea. Petroleum Safety Authority Norway have now given the company consent to drill exploration well 25/1-13.The area where the well is to be drilled is in the central North Sea, 42 kilometres north of the facilities on the Jotun…
10 January 2019
New name for Østensjø Rederi's “Sun Enabler”
Østensjø Rederi has decided to rename Sun Enabler before the commencement of the new Fugro-contract in March. Her new name will be “Edda Sun”, in line with the rest of the Edda-fleet and Østensjø Rederi’s proud tradition.The first “Edda Sun” was an anchor handler delivered in 1975, owned by Helmer…
10 January 2019
Sentinel Marine Creates 80 New Jobs with Order for Three New Emergency Response and Rescue Vessels
Offshore support vessel specialist Sentinel Marine will create 80 new jobs by adding three multi-role ships to its fast-growing fleet. The Aberdeen-based firm is investing in the region of £36 million in the trio of new builds, which will come into service by the end of 2020.The ships - Cromarty…
10 January 2019
Odfjell Drilling takes Delivery of Deepsea Nordkapp from Shipyard
Odfjell Drilling has taken delivery of Deepsea Nordkapp from Samsung Heavy Industries in Korea.Deepsea Nordkapp is the latest addition to Odfjell Drilling’s fleet of harsh environment drilling units. The semi-submersible is an enhanced Moss Maritime CS-60 design, winterized and purposely built for harsh environment areas. The unit will meet Odfjell…
10 January 2019
TechnipFMC and MMHE Sign a Long-Term Offshore Agreement with Saudi Aramco
TechnipFMC, in consortium with MMHE (Malaysia Marine and Heavy Engineering Sdn Bhd), has signed a Long-Term Offshore Agreement with Saudi Aramco.This agreement, valid for 6 years, covers engineering, procurement, fabrication, transportation and installation of offshore facilities for the development of Saudi Aramco’s offshore projects.This agreement builds on the long-term relationship…
10 January 2019
Independent Oil and Gas plc: SNS Core Project Upgrade
Independent Oil and Gas plc, a development and production company focused on becoming a substantial UK gas producer, provided an upgrade on its core development project in the UK Southern North Sea (“SNS”).Highlights - The Company’s two-phase Core Project has been expanded to include the 108 BCF of 2C Contingent…
10 January 2019
ExxonMobil Begins Drilling Haimara-1 Exploration Well Offshore Guyana
ExxonMobil said that it has begun drilling the Haimara-1 exploration well offshore Guyana, the first of two planned wells in January. The Stena Carron drillship is drilling the well, which is located 19 miles (31 kilometers) east of the Pluma-1 discovery in the southeast Stabroek Block.The Noble Tom Madden drillship…