News

  • Public consultation opens on Australia’s 2020 offshore petroleum acreage

    Public consultation has opened on potential areas for the Australia’s 2020 offshore petroleum exploration acreage release.   Minister for Resources, Water and Northern Australia Keith Pitt said 49 areas have been nominated by the oil and gas industry offshore from Western Australia, Northern Territory, Victoria…

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  • Cabot to drill 60 to 70 wells in 2020

    Cabot Oil & Gas Corporation expects to drill, complete and produce 60 to 70 natural gas wells in 2020, with two-thirds placed on production between mid-May and late August. In the first quarter, the company drilled 22 wells and completed 13.   Details were provided…

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  • Insurance Jottings

    RIMS acknowledges drawbacks in forcing insurers to retroactively cover BI The chairman of RIMS’s external affairs committee has said the society recognises the challenges which would result from retroactively forcing insurers to cover business interruption losses, despite it sounding good for insureds in theory.  …

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  • Global Oil Glut Set to Halve in May

    The global imbalance between oil supply and demand is set to halve to 13.6 million barrels per day (bpd) in May.   That is according to a new Rystad Energy analysis, which predicted a further fall to 6.1 million bpd in June. Rystad warned, however,…

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  • Saipem scores €280 million Baltic Pipe deal

    Saipem has won a gas pipeline transportation and installation contract between Denmark and Poland in the Baltic Sea.   The contract, signed by its controlled subsidiary in the UK, Saipem Ltd, is worth approximately €280 million.   The Baltic Pipe Project is a strategic infrastructure…

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  • Melbana seeking new partners for Beehive well offshore Australia

    Santos’ option to farm into the WA-488-P permit offshore northern Australia has lapsed, leaving Melbana Energy to seek new partners.   The permit contains the potentially giant Beehive prospect in the Bonaparte Gulf between the producing Blacktip gas field and the undeveloped Turtle and Barnett…

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  • June target for South Pars Phase 11 drilling offshore Iran

    Load-out has started of the Platform 11B jacket for Phase 11 of the South Pars gas field development in the Persian Gulf.   According to news service Shana, the 2,120-t, 80.5-metre (264-foot) tall structure will be installed in the 11B area of South Pars, 135…

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  • Oil Market Recovery Might Be on Horizon

    Within the past week some positive developments have emerged in the oil market, according to a panel of informed market-watchers assembled by Rigzone.   Although a formidable set of negatives – notably excess supply and a dearth of demand – remains all too evident, our…

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