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EnQuest Sees 20% Higher Oil Production in 2019

December 5, 2018

EnQuest expects to produce about 20 percent more oil next year as the indebted British North Sea producer strives to recover from a series of minor setbacks at its flagship field. The company said on Wednesday it expected to produce between 63…

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Major Traders Bribed Petrobras Staff -Prosecutors

December 5, 2018

Brazil prosecutors alleged on Wednesday that trading giants Vitol, Trafigura and Glencore paid over $30 million in bribes to employees at state-owned oil company Petroleo Brasileiro SA in return for business. The alleged graft was the latest…

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Terra Nova FPSO Restarts Production

December 4, 2018

Canadian integrated energy company Suncor said it has restarted production from the Terra Nova floating production storage and offloading vessel (FPSO), approximately 350 kilometers east-southeast off the coast of Newfoundland, Canada in the North Atlantic Ocean.

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Prelude FLNG to Start Producing at End-2018

December 4, 2018

Royal Dutch Shell expects production at its Prelude floating liquefied natural gas (LNG) unit to start at the end of the year, a spokeswoman told Reuters on Tuesday. "We continue to progress Prelude towards operations, with safety and quality being our main focus ...

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Eni's Indonesia Gas Project to Start Up in 2021

December 4, 2018

Energy company Eni aims to start output of natural gas from its offshore Merakes project in Indonesia in 2021, the country's deputy energy minister said on Tuesday. Initial production at Merakes would be 155 million cubic feet of natural gas per day (mmcfd)…

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ExxonMobil Makes Discovery Off Guyana

December 3, 2018

U.S. major ExxonMobil has made its 10th discovery offshore Guyana and increased its estimate of the discovered recoverable resource for the Stabroek Block to more than 5 billion oil-equivalent barrels, reinforcing potential for at least five floating storage…

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First Oil Offloaded from FPSO at Dussafu

December 3, 2018

London based independent Panoro Energy ASA announced Monday that the first cargo of oil from Dussafu has been offloaded from the BW Adolo floating production storage and offloading unit (FPSO) on December 2. A total of 550,000 barrels of oil…

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Aker BP Acquires Total's Norwegian Assets

December 3, 2018

Aker BP announced on Monday that it has completed the $205 million acquisition of Total E&P Norge's Norwegian continental shelf portfolio. Aker BP first announced the deal in July, and this week said all closing conditions have been fulfilled, and the closing of the transaction has now taken place.

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Petrobras May Divest $15 Bln Over Next Few Years

November 30, 2018

Brazil's state-controlled oil company Petroleo Brasileiro SA is considering divesting up to $15 billion within the next few years, one person with knowledge of the matter said on Thursday. The total divestment goal has not been approved yet…

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High Hopes for Campos Basin

November 28, 2018

Although much of the hype surrounding the Brazilian oil and gas market is directed toward the Santos Basin pre-salt, recent and older pre-salt discoveries in existing areas and on recently-awarded blocks within Campos Basin offer significant…

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First Steel Cut for Karish and Tanin FPSO

November 27, 2018

Energean Oil and Gas announced that first steel was cut on the Karish and Tanin floating production storage and offloading (FPSO) vessel at the COSCO yard in Zhoushan, China, on Monday. The FPSO is scheduled to be delivered to the Karish field offshore Israel in late 2020…

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Addax Petroleum Extends Yinson’s Adoon FPSO Deal

November 25, 2018

Nigeria-focused oil company Addax has extended the charter for the Yinson-owned FPSO Adoon for another three months, pending discussion for a potential longer-term deal. "Unless otherwise expressly defined in this announcement, terms and expressions…

Incoming Petrobras CEO: No Decision Yet on Future Pre-salt Auctions

November 23, 2018

No decision has yet been taken on the types of contract to be offered in Brazil's pre-salt deep water oil auctions, the incoming head of Petroleo Brasileiro SA said on Thursday, adding that fuel price policy is still being discussed. (Reporting by Mateus Maia Editing by Marguerita Choy)

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Big Oil Digs North Sea's 'Final Frontier'

November 23, 2018

"Little hope of THIS rock ever producing oil," BP geologist Bill Senior scribbled in 1977 on a note assessing a recent oil discovery in a distant corner of the North Sea. That same rock is today the heart of BP's prized Clair field in the West of Shetland region…

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Total to Raise Output in 2019

November 23, 2018

Oil major Total's output will rise to 3 million barrels of oil equivalent per day in 2019, Chief Executive Patrick Pouyanne said on Friday. The company has said its production rate stood at 2.8 million barrels of oil equivalent per day during the third quarter of this year.

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SBM Orders Second Fast4Ward FPSO Hull

November 21, 2018

SBM Offshore signed a contract Wednesday for a second hull in its planned series of Fast4Ward floating production, storage and offloading units (FPSO) with Chinese shipyard Shanghai Waigaoqiao Shipbuilding and Offshore Co., Ltd. (SWS). The order…

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Argentina to Export First LNG in 2019

November 21, 2018

Argentina is due to begin exports of liquefied natural gas from a part of its vast Vaca Muerta shale gas resource next year through a floating LNG liquefaction (FLNG) vessel provided by Exmar, the Belgian shipping company said on Wednesday.

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Johan Castberg Topside Construction Begins

November 21, 2018

Norwegian minister of petroleum and energy Kjell-Børge Freiberg cut the first sheet for the topside of the Johan Castberg floating production, storage and offloading unit (FPSO) at Kværner's yard at Stord on Wednesday as part of a large scale  project triggering ripple effects throughout Norway.

Atlantic Canada Oil Spill Caused by Weak Flowline Connection

November 20, 2018

A weak connector on an underwater oil flowline caused a spill during a fierce Atlantic storm last week off the coast of Canada's Newfoundland & Labrador, Husky Energy Inc said on Tuesday. The spill is the largest-ever off the coast of the Canadian province…

Petrobras Units Could be Sold Under New CEO

November 19, 2018

Brazil's right-wing President-elect Jair Bolsonaro said on Monday that certain units of Petroleo Brasileiro could be privatized, even though the state-run company is strategic for the state. Speaking to reporters after his team named Chicago…

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Bangladesh Resolves FSRU Issues

November 19, 2018

Bangladesh will resume liquefied natural gas (LNG) imports this week after resolving issues with its sole floating storage and regasification (FSRU) unit, a senior official said on Monday. Two cargoes, meant to be delivered on Nov. 7 and Nov.

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