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14 Dec 17
UK: UKCS operating costs decrease by 14% in 2016 - falling for second consecutive year
Operating costs in the UK Continental Shelf (UKCS) dropped by 14% in 2016 with operators securing approx. £1.1 billion reductions in operating expenditure (OPEX).
14 Dec 17
US: Cobalt International Energy files for Chapter 11 to facilitate restructuring
Cobalt International Energy, an independent exploration and production company active in the deepwater U.S. Gulf of Mexico and offshore West Africa, has announced that it and certain of its U.S. affiliates filed voluntary petitions for relief under chapter 11 of the United States Bankruptcy Code.
14 Dec 17
Lebanon approves awards of two exclusive petroleum licences for exploration
Lebanon has approved the awards of two exclusive petroleum licences for exploration and production in Blocks 4 and 9 to a consortium composed of Total, Eni International and NOVATEK. The blocks were offered as part of Lebanon's first offshore licensing round.
14 Dec 17
Norway: Statoil awards long-term subsea contracts on the Norwegian continental shelf
Statoil has awarded new subsea maintenance framework agreements to Aker Solutions, TechnipFMC and OneSubsea. The contracts have a total estimated value of more than NOK 8 billion and a duration extending to 2023. In addition, the contracts include options for a total of 20 years.
14 Dec 17
Australia: Carnarvon and Quadrant to drill Phoenix and Dorado wells in 2018
The Quadrant Energy and Carnarvon Petroleum JV met recently to review progress on the Phoenix project. The key work flows presented included preparing for drilling the Phoenix South-3 and Dorado-1 wells in 2018 and considering potential development concepts.
14 Dec 17
Morocco: Sound Energy completes first phase of 2D seismic and magneto-telluric acquisition in Eastern Morocco
Sound Energy has confirmed that it has now completed the first phase of the 2D seismic and magneto-telluric (MT) acquisition in Eastern Morocco.
14 Dec 17
Norway: Aker Solutions secures subsea services agreement with Statoil
Aker Solutions has secured a framework agreement to provide subsea services for Statoil-operated oil and gas fields offshore Norway. The contract has a fixed period of five years, starting in the first quarter of 2018, and contains five four-year extension options.
14 Dec 17
Norway: EMGS reports multi-client sales in the Barents Sea
Electromagnetic Geoservices (EMGS) has entered into data licensing agreements related to 3D CSEM multi-client data in the Barents Sea in Norway. The agreements represent combined revenues of approx. USD 1.4 million.
14 Dec 17
Brazil: Statoil and QGEP complete transaction on the Carcará oil discovery in Brazil
Statoil and QGEP have completed their transaction announced in July 2017, whereby Statoil has acquired QGEP’s 10% interest in the BM-S-8 block in Brazil’s Santos basin for a total consideration of USD 379 million.
13 Dec 17
World Bank to cease financing upstream oil and gas after 2019
The World Bank will no longer finance upstream oil and gas projects after 2019, apart from certain gas projects in the poorest countries in exceptional circumstances, it said on Tuesday, drawing praise from environmental groups.
13 Dec 17
Mozambique: ExxonMobil completes LNG acquisition in Mozambique Area 4
ExxonMobil has announced the completion of a transaction by ExxonMobil Development Africa to acquire a 25 percent indirect interest in Mozambique’s gas-rich Area 4 block from Eni and assume responsibility for midstream operations.
13 Dec 17
Israel: Energean awarded five exploration licences, offshore Israel
Energean Oil & Gas has been awarded five offshore exploration licences within the Israeli Exclusive Economic Zone (EEZ). The awarded Licences comprise Blocks 12, 21, 22, 23 and 31, which were published for bidding in the recent First Israeli Offshore Bid Round.
13 Dec 17
Norway to open acreage for offshore floating wind power
Norway plans to open one or two offshore regions for construction of floating wind turbines, the Ministry of Petroleum and Energy said in a statement on Wednesday.
13 Dec 17
Iraq: Petrofac secures US$160 million award from Basra Oil Company
Petrofac’s Engineering & Production Services (EPS) division has secured an award worth US$160 million from Basra Oil Company, previously known as South Oil Company, for its Iraq Crude Oil Export Expansion Project (ICOEEP).
13 Dec 17
UK: Forties pipeline shutdown costing £20 million per day
Oil & Gas UK, the leading representative body for the UK offshore oil and gas industry, reports that the current shutdown on the Forties Pipeline System is resulting in lost production worth around £20m per day.
13 Dec 17
Norway: Aker Solutions awarded Yme field contract
Aker Solutions has won an order from Maersk Drilling to modify the production module on the Mærsk Inspirer jack-up rig for the Repsol-operated Yme oil field offshore Norway. The order is valued at about NOK 1 billion.
13 Dec 17
Chariot Oil & Gas provides pre-close operational update
AIM-listed Chariot Oil & Gas, the Atlantic margins focused oil and gas exploration company with assets in Namibia, Morocco and Brazil, has provided an operational update prior to its 31 December year end.
13 Dec 17
Ireland: Europa Oil & Gas provides technical update on LO16/20, offshore Ireland
Europa Oil & Gas has announced an update on its 100% owned Licensing Option (‘LO’) 16/20 in the Slyne basin, offshore Ireland which lies adjacent to the producing Corrib gas field.
13 Dec 17
Australia: Cue Energy extends BP's option to farm into the Ironbark well in WA-359-P
Cue Energy Resources has agreed to extend the 42.5% equity option over exploration permit WA-359-P granted to BP Developments Australia until 25 April 2018, with a further 6 month extension available under certain circumstances. WA-359-P contains the 15 TCF prospective Ironbark gas prospect.
13 Dec 17
New Zealand: NZOG receives regulatory approvals to acquire Mitsui's stake in Kupe field
Approval has been received from the Overseas Investment Office and from New Zealand Petroleum & Minerals for New Zealand Oil & Gas (NZOG) to purchase Mitsui E&P Australia's 4 per cent interest in the Kupe gas and light oil field.
12 Dec 17
Russia: NOVATEK acquires Chernichnoye field
NOVATEK has concluded an agreement to acquire the Chernichnoye field. The field contains estimated hydrocarbon resources of 179 million barrels of oil equivalent and is located in close proximity to NOVATEK’s infrastructure.
12 Dec 17
U.S. looks to Germany to stop Baltic undersea Russian gas pipeline
A Russian pipeline project - Nord Stream 2 - that would boost Moscow’s ability to manipulate European energy markets can be slowed by Denmark but ultimately Germany would be needed to stop it, U.S. State Department officials said on Tuesday.
12 Dec 17
US: Carrizo Oil & Gas divests a portion of its Eagle Ford acreage
Carrizo Oil & Gas has entered into an agreement to divest a portion of its assets in the Eagle Ford Shale for $245 million in cash.
12 Dec 17
Oman: Petrofac awarded contract for Khazzan Phase 2 in Oman
Petrofac has been awarded a lump-sum contract worth approx. US$800 million by BP for the Phase 2 central processing facility (CPF) at the Khazzan Phase 2 (Ghazeer) gas development in the Sultanate of Oman. This follows the US$ 1.4 billion Phase 1 CPF Khazzan project, awarded to Petrofac in February 2014.
12 Dec 17
UK: Apache North Sea shuts down Forties field production
Apache North Sea confirms that production from the company's Forties field has been shut down as of December 11, 2017. Production from impacted Apache operations is 35,800 net barrels of oil per day.
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