Lundin Petroleum AB said its oil discovery at exploration well 16/5-8s, targeting the Goddo prospect in PL815 some 14 kilometres south of Edvard Grieg field in the Norwegian North Sea, is promising but does not appear connected to the Rolvsnes discovery reservoir. Exploration well…
Oil rose for a second day as a drone attack on a Saudi Arabian oil field revived concerns that the tense Middle East political situation may jeopardise crude exports. Futures in New York advanced as much as 1.7% to trade above US$55 a barrel….
Another oil spill has occurred aboard the HMDC-operated Hibernia platform in the Atlantic Ocean offshore Canada, just days after regulators gave approval for HMDC to resume production which had been shut following the July oil spill. On the 15th August the offshore regulator issued…
Petropars Operation and Management Company will commission and operate Phase 14 of the South Pars gas field in the Persian Gulf, according to news service Shana. The full scope includes pre-start-up monitoring, commissioning, start-up, operation, performance guarantee testing and early production from the phase….
Energy storage company Energy Vault has announced a US$110 million dollar investment from Japan’s SoftBank Vision Fund. This investment will set the company on the path to accelerating its development of large energy storage projects with its unique gravity-assisted technology. If you have…
BW Offshore has received a one-year contract extension for the lease and operation of the FPSO Petróleo Nautipa. The FPSO is operating on the Etame field offshore Gabon for VAALCO Energy. The firm period has been extended from the tird quarter of 2020…
Seadrill Limited has reported that it has entered into a 50:50 joint venture with Qatar-based Gulf Drilling International (GDI). The “GulfDrill” JV will initially manage and operate five premium jack-up rigs in Qatar with Qatar Petroleum commencing throughout 2020, Seadrill said. “We are…
According to BP, Canada produced over 5.2 million b/d in 2018 and was the fourth largest oil producer in the world. This is nearly a 65 percent gain over the past decade. Canada’s oil production is overwhelmingly western-based, with over 80 percent coming…
The global market for floating production, storage and offloading vessels (FPSOs) is headed for a major renaissance with as many as 24 FPSO awards expected by 2020, driven to a great degree by Brazil, according to Norwegian energy research and consultancy firm Rystad Energy. …
The Papua New Guinea government has sent a state negotiating team, led by Petroleum Minister Kerenga Kua, to Singapore seeking renegotiation of the terms of the Papua LNG gas agreement with project operator Total SA. The agreement was originally signed by the former Prime…
