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12 Dec 14
Norway: Statoil receives consent to carry out exploration drilling of well 30/11-11 in the Krafla Prospect
Statoil is the operator for exploration licences 272 and 035 in Block 30/11 in the northern part of the North Sea. Exploration well 30/11-11 is to be drilled in a prospect called Krafla.
12 Dec 14
Italy's Eni puts Saipem stake sale on hold
Italian oil major Eni has put the sale of its stake in Saipem on hold after the cancellation of the lucrative South Stream gas pipeline project and plunging oil prices shaved off almost half the oil contractor's market value in two months.
11 Dec 14
PNG: InterOil announces discovery at Bobcat-1 in PPL476
InterOil has notified the Papua New Guinea Department of Petroleum and Energy of a discovery at the Bobcat-1 exploration well in PPL476. The well was tested over an interval of about 320 meters of Kapau limestone, the upper section of the target reservoir, and flowed and flared hydrocarbons at surface.
11 Dec 14
Mexico opens bidding for oil exploration in Gulf of Mexico
The Mexican government has announced the start of bidding for oil exploration rights in 14 areas in the Gulf of Mexico open to domestic and international companies. Bidding will be open until July 15, and marks an important step following Mexico's energy reforms that broke a seven-decade state monopoly.
11 Dec 14
New Zealand: TAG Oil increases exploration interests in Taranaki Basin
TAG Oil has announced that New Zealand Petroleum and Minerals has awarded the Company 100% interest in two new onshore Taranaki Basin permits: Petroleum Exploration Permit 57065 ('Sidewinder North') and Petroleum Exploration Permit 57063 ('Waiiti').
11 Dec 14
Australia: Carnarvon Petroleum provides update on the Phoenix South-1 well
Carnarvon Petroleum has provided provide an update on the work being performed in assessing the results from the Phoenix South-1 well.
11 Dec 14
Australia: Senex Energy reports good gas flows at its Vanessa-1 well in the Cooper Basin
Senex Energy has reported strong production testing results at the Vanessa conventional gas field in the South Australian Cooper Basin. The well, located in PEL 182, flowed gas to surface at an average rate of 5.0 mmscf/d.
11 Dec 14
UK: Wood Group secures major BP contract
Wood Group has been awarded a five year contract with an estimated value of $750million from BP. Under the contract Wood Group PSN will deliver engineering, procurement and construction services to six UK continental shelf (UKCS) offshore upstream assets and the Forties Pipeline System (FPS) onshore midstream facilities in Grangemouth.
11 Dec 14
Argentina: President Energy announces significant increase in reserves and valuation for its Puesto Guardian Area
President Energy has announced the issue of a new independent statement of Crude Oil Reserves and Contingent Resources for its 100% owned and operated Puesto Guardian Area, carried out by the international petroleum consultancy, Gaffney, Cline & Associates.
11 Dec 14
Mosman Oil and Gas announces takeover proposal for MEO Australia
Mosman Oil and Gas has announced that Mosman proposes to make a takeover bid to acquire 100% of the fully paid ordinary shares in the issued capital of the ASX listed MEO Australia. MEO is currently subject to a merger proposal with ASX listed company, Neon Energy.
11 Dec 14
Australia: Oilex converts Canning Basin SPA 17 AO to an Exploration Permit Application
Oilex has announced that its application to convert the Special Prospecting Authority (SPA 17 AO) to Exploration Permit Application (STP-EPA-0131) has been approved by the WA Department of Mines and Petroleum (DMP).
11 Dec 14
Australia: Bengal Energy announces gas discovery in Australia's Cooper Basin
Bengal Energy has announced a new natural gas discovery with the Nubba-1 well in the Wompi sub-block of ATP 752P in Australia's Cooper Basin.
11 Dec 14
US: Goodrich and Oasis Petroleum cut spending for 2015 as oil slides
Goodrich Petroleum and Oasis Petroleum said they expect to spend much less on exploration and production next year, joining a list of U.S. oil and gas companies cutting capital spending as oil prices plunge.
10 Dec 14
Dolphin Geophysical to purchase new 3D streamer acquisition technology
Previously, Dolphin Geophysical announced that a selection of next generation streamer technology would be made in 2014. Based on thorough evaluation, Dolphin has selected the proven WesternGeco Q-Marine point-receiver marine seismic system for the Polar Empress.
10 Dec 14
OPEC cuts 2015 demand forecast for its oil to lowest in a decade
Global demand for OPEC crude in 2015 is expected to fall to the lowest level in more than a decade and far below current output, the group said on Wednesday, pointing to a hefty supply surplus without OPEC output cuts or a slowdown in the U.S. shale boom.
10 Dec 14
Total announces organisation changes and new appointments in Exploration and Production
Total announced Tuesday that, as from January 1st 2015, the Exploration and Production Branch of Total will be restructured with five geographical divisions, an Exploration division and five functional divisions.
10 Dec 14
China: CNOOC signs PSCs with KUFPEC
CNOOC has signed three production sharing contracts (PSCs) with KUFPEC (China) for Blocks 52/22, 52/26 and 63/13 in the Yinggehai Basin of the South China Sea.
10 Dec 14
Croatia: South Stream demise leads Croatia to revive gas terminal project
Spurred by the demise of Russia's South Stream gas pipeline project, Croatia has revived a decade-old idea of building a liquefied natural gas import terminal at the deepwater oil port of Omisalj on the island of Krk.
10 Dec 14
BP presents Upstream strategy to investors
BP on Wednesday presented to investors its strategy and plans to the end of the decade and beyond for its Upstream oil and gas business. The day-long presentation, led by BP’s Upstream chief executive Lamar McKay, provided an in-depth and detailed account of how BP is managing its Upstream business and its distinctive strategy for the long term.
10 Dec 14
UK: Talisman Sinopec closes North Sea platform ahead of storm
Talisman Sinopec Energy UK has closed its Buchan Alpha platform in the North Sea, the company said on Wednesday, ahead of an expected severe winter storm.The Buchan Alpha is a floating production installation that contributes less than 5,000 barrels of oil per day to the Forties crude stream.
10 Dec 14
U.S. government cuts 2015 domestic oil production forecast
The U.S. government on Tuesday cut its forecast for domestic oil production growth in 2015 by about 100,000 barrels per day and trimmed its forecast for global oil demand growth next year by 240,000 bpd.
10 Dec 14
Australia: Comet Ridge provides update on Mahalo 7 horizontal well in ATP 337P
Coal seam gas explorer and developer Comet Ridge has provided an operational update on the progress of the Mahalo 7 horizontal surface to in-seam well project. The well was drilled during the first half of November 2014 in the ATP 337P Mahalo Block in Queensland’s Bowen Basin.
10 Dec 14
EMGS extends the charter agreement for the EM Leader at improved commercial terms
Electromagnetic Geoservices (EMGS) has signed an extended charter agreement for the vessel EM Leader with Seatrans (owner of the vessel) at new and improved commercial terms.
10 Dec 14
Fastnet Oil & Gas announces Board changes and operational update
Fastnet Oil & Gas, the UK and Irish listed E&P company focussed on near-term exploration and appraisal acreage in Morocco and the Celtic Sea, has announced the appointment of a Chief Executive, other board changes and provided an operational update on the Company's key assets.
10 Dec 14
Paraguay: President Energy to test Lapacho x-1 well in the Pirity Basin
President Energy has announced that the Lapacho x-1 well has reached TD and has encountered very encouraging hydrocarbon shows extending to TD. The rig is now progressing to open hole well testing operations and a multi-rate test is planned to commence in the next few days.
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