Santos announced the acquisition of a 50% interest in the Northwest Natuna Production Sharing Contract (PSC) in the South China Sea offshore Indonesia from AWE Ltd. The NW Natuna PSC contains the undeveloped Ande Ande Lumut oil field, which…
Upstream oil and gas investment on the UK Continental Shelf (UKCS) reached a record £13.5 billion this year, according to a new study. But, despite the high spending, production efficiency continues to be an issue in the North Sea, says Oil & Gas UK’s 2013 Economic Report…
Lundin Norway AS has plugged and abandoned well 16/4-7, northeast of the Sleipner Øst field in the central North Sea off Norway, after it was found to be dry. The objective of the well, in 91m deep water, was to prove petroleum in Jurassic…
Vince Cable, MP, secretary of state for business, innovation and skills (BIS) is to speak at SPE Offshore Europe 2013 at one of the conference’s keynote sessions. The session, The technology imperative – collaborating today to realise the next 50 years of North Sea potential…
Austrian energy group OMV is to buy Norwegian and UK North Sea assets from Norway’s Statoil in a US$2.65billion deal. The deal will see OMV acquire 19% interest in the producing Gullfaks field and 24% in the Gudrun field, both oil and gas fields offshore the Norwegian Continental Shelf…
India's Oil & Natural Gas Corp. (ONGC) announced three offshore and one onshore discovery during Q1 of its fiscal year 2013-2014, which ended 30 June, and one additional onshore discovery in August 2013 (Q2). Offshore: New prospect discovery: exploratory well KGOSN041NANL-2…
Mexican President Enrique Peña Nieto proposed his plans to reform Mexico’s energy industry in an effort to ease restrictions on foreign investment. The plan calls for amendments to articles 27 and 28 of the Mexican Constitution, which…
Faroe Petroleum completed the acquisition of a 10% non-operated interest in the BP-operated East Foinaven oil field and a 0.5% interest in the West of Shetland Pipeline System, both from Marubeni Oil & Gas (North Sea) Ltd . The net consideration payable for the acquisition of the interests…
Beach Energy announced that drilling is expected to begin on the 01RX Cobalcescu South exploration well in Block EX-28 offshore Romania. According to the company, the well will be spudded during Beach Energy’s August reporting period…
Eni has spud the Cua Lo-1 exploration well located in Block 105-110/04, in the Gulf of Tonkin, off Vietnam, partners Neon Energy and KrisEnergy announced. The well, spud on August 11, 2013, is designed to test the large Cua Lo gas prospect…
The United States Energy Information Administration (EIA) issued news release on 9 August with its forecast that China's net oil imports will exceed those of the U.S. by October 2013 on a monthly basis, and by 2014 on an annual basis, making China the largest oil importer in the world…
W&T Offshore, Inc. (NYSE: WTI) announced on 25 July 2013 that it made a subsalt discovery in a deep shelf exploratory target beneath its Ship Shoal 349 Mahogany field. The SS 359 A-14 well exceeded expectations and is currently producing from the targeted T-sand (in excess of 17…
Volunteer staffs of PTT Global Chemical Plc (PTT), along with Thailand Navy personnel, are still working to clean up the remaining oil slick that washed up on the beach of Koh Samet Island. The crew placed an absorbent boom along the beach…
Petrobras encountered oil in well 3-SPS-101 (3-BRSA-1179-SPS), in the Carioca Discovery Evaluation Plan area, block BM-S-9, Santos Basin pre-salt. The well, also known as Iguaçu Mirim, is located 303km off the coast of the state of São Paulo…
Exploration well 16/2-18S, located on Statoil operated PL265 in the North Sea, was drilled west of Johan Sverdrup discovery about 9 km west of well 16/2-6 and 3 km west of appraisal well 16/2-14. The primary exploration target of the well…