Stories

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Brazil Postpones Santos Basin Bid Round

June 13, 2019

Brazil's oil regulator ANP announced on Thursday preliminary rules for a major oil auction in the pre-salt area in the Santos basin and postponed the bidding round to Nov. 6 from Oct. 28. The preliminary rules will be in public consultation until July 3, according to ANP.

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Worley, Enaval Form Brazil Brownfield JV

June 12, 2019

Australian-based engineering firm Worley said it has entered into a 50:50 joint venture with Brazilian services company Enaval. The new joint venture, Worley Enaval (WE) Integrated Solutions, combines Worley’s global engineering and brownfield…

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Libra Partners Launch Mero Phase 2

June 11, 2019

Project partners have taken the investment decision for the second phase of the Mero project in the deepwater Libra block of the pre-salt Santos Basin offshore Brazil, Brazilian state-controlled oil company Petrobras announced on Tuesday. Brazilian state-controlled oil company Petrobras…

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Jedstone Starts RLWI Work at Montara

June 10, 2019

Asia Pacific focused Jadestone Energy announced Monday it has begun a riserless light well intervention (RLWI) campaign at the Montara complex, offshore Australia. The Sapura Constructor light well intervention vessel was mobilized to the field on May 30…

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Oil Rises on Likely OPEC+ Supply Cuts

June 10, 2019

Oil prices rose on Monday after Saudi Arabia said producer club OPEC and Russia were likely to keep withholding supplies, and in relief that the United States and Mexico averted a trade war that would have damaged the global economy. Front-month Brent crude futures…

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ExxonMobil to Redevelop Angola Block 15

June 6, 2019

American multinational oil and gas corporation ExxonMobil and its partners said that they will further invest in Block 15 offshore Angola to increase production as part of an agreement with Angola’s recently established National Agency for Petroleum, Gas and Biofuels.

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US Crude Inventory Above Average

June 5, 2019

US crude inventory now 6% above the five year average – Brent crude price down 17% over past 10 days Recent government data indicate a US crude inventory surplus has been forming. The latest EIA survey shows 483 million bbls in inventory as…

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Hurricane Achieves First Oil at Lancaster

June 5, 2019

Hurricane Energy has announced first oil at its Lancaster field off Scotland, the first such success for so-called fractured basement reservoirs in Britain and a major milestone for the company within its guided schedule. Hurricane specializes…

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Equinor Plans Rosebank FID by 2022

June 4, 2019

Equinor and its partners expect to reach a final investment decision (FID) for Rosebank, one of the largest undeveloped oil and gas fields on the UK continental shelf, by May 2022, the Norwegian major said on Tuesday. The Rosebank field was…

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Eni Makes Fifth Oil Find Offshore Angola

June 4, 2019

Italian oil and gas company Eni has made the fifth oil discovery in one year in Block 15/06, through the Agidigbo-1 NFW well in Angola's deep offshore. It follows the discoveries of Kalimba, Afoxé, Agogo and Ndungu. The five discoveries altogether…

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Brazil Approves Petrobras Oilfields Sale

May 31, 2019

Brazilian antitrust regulator Cade has approved the purchase by independent oil firm PetroReconcavo of 34 oilfields owned by Petroleo Brasileiro SA , the government's official bulletin showed on Friday. Cade said the sale did not reduce competition…

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Ocean Yield Extends FPSO Deal with Aker Energy

May 29, 2019

Norway-based shipping company Ocean Yield has entered into an option agreement with Aker Energy for a long-term bareboat charter of the FPSO Dhirubhai-1. The option period expired on the 1st of May but was extended until the 30th of May 2019.

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Petrobras Nears Sale of Offshore Oilfields

May 28, 2019

Brazil's Petroleo Brasileiro SA is nearing the sale of two oilfields in a process that could fetch around $1 billion and aid the state-run oil firm in its bid to reduce debt. Petrobras, as the company is known, has set a June 5 deadline to receive…

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Banff FPSO Contract Extended

May 23, 2019

Teekay said it has entered into an agreement with Canadian Natural Resources (CNR) to extend the employment of the Petrojarl Banff FPSO unit on the Banff field in the UK North Sea for a period of one year to the end of August 2020. According to Teekay…

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BW Offshore to Float Energy Unit

May 23, 2019

Oslo-listed BW Offshore said it will float BW Energy this year to help expand the oil and gas business, particularly in Brazil, as its first quarter earnings rose 72%. Shares in BW Offshore, originally an owner of floating production, storage…

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Petrobras Interested in Two TOR Auction Areas

May 22, 2019

Petroleo Brasileiro said on Tuesday it is interested in exercising its preferential right to tender in two areas in an auction of excess oil from the so-called "transfer of rights" (TOR) area, according to a company filing. The Brazilian state…

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Petrobras Eyes $9 Bln Transfer-of-rights Addendum

May 21, 2019

Brazil's state-run oil company Petrobras said on Tuesday its board of directors approved an addendum to a transfer-of-rights oil contract that will see it reimbursed to the tune of $9.06 billion, but the deal remains subject to governmental agreement.

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FLNG Satu Achieves First LNG at Kebabangan

May 21, 2019

Petronas has produced its first liquefied natural gas (LNG) from a floating LNG (FLNG) facility at the Kebabangan cluster field, 90 kilometers offshore the eastern state of Sabah, the Malaysian state-owned oil company announced on Tuesday. First…

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Premier Oil Raises Output Guidance

May 16, 2019

Britain's Premier Oil increased its 2019 production guidance on Thursday, saying output had been boosted by efficiency measures and a late sale from its now-divested Pakistan oil fields. The company said it now expects output to reach 75,000 to 80…

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McDermott Scores EPCI Work at Sepia

May 14, 2019

McDermott International said on Tuesday it has been awarded contract from Petrobras for engineering, procurement, construction and installation (EPCI) of subsea risers and flowlines for the first phase of the Sepia field, located 280 kilometers from the Rio de Janeiro coastline in Brazil.

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Hurricane Energy Starts Up Lancaster Field

May 13, 2019

British oil and gas company Hurricane Energy started up its Lancaster field west of Scotland's Shetland Islands, it said on Monday, pushing its shares up 6 percent to a seven-week high. Hurricane specializes in recovering oil from fractures…

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