In a break from the energy industry’s current contraction trend of spending cuts, employee layoffs, contract delays and cancellations, Abu Dhabi National Oil Co. (ADNOC) recently announced plans to spend more than US$25 billion on various offshore fields…
KrisEnergy plans to develop the Wassana oil field beginning with drilling a new exploration well in Block G10/48 offshore Thailand. Wassana well projection. From KrisEnergy. The Rayrai-1 well is at a water depth of 170ft and is 2…
The Kenli 10-1 field offshore China is now online, according to China National Offshore Oil Corp. (CNOOC). Image from CNOOC. Production at the field located in Bohai Bay began on 23 April at an average water depth of 17m…
Huisman officially opened their new production facility in Navegantes, Santa Catarina state on 16 April 2015, in the south of Brazil. The facility is used for the manufacturing of offshore equipment for the Brazilian market. It is located along the Itajai-Açu river…
Battered by the ramifications of rapidly declining oil prices, oil and gas company share prices continued to fall in 1Q 2015, but the share price declines have lagged behind the drop in oil prices, suggesting the market is pricing a recovery into the stocks…
The sudden drop in oil prices is different from cycles in the recent past, said Rex Tillerson, chairman and chief executive of ExxonMobil, during his Tuesday morning keynote speech and discussion at the recently held CERAWeek. This event has been created due to oversupply…
Colombia yet again made another push this year at IHS CERAWeek in Houston to alert the oil and gas industry that not only is the South American country open for business, like that of its northern competitor Mexico, but that it is willing…
The global oil and gas industry, and US companies in particular, will require four key changes to expedite recovery from the current slowdown in activity, said Ryan Lance, chairman and chief executive of ConocoPhillips. Ryan made his comments…
Norway-based North Atlantic Drilling (NADL) and Russia's Rosneft recently agreed to extend the termination date of the 2014 framework agreement until May 31, 2017. The agreement states that either party can end the agreement, including any offshore drilling contracts…
Karoon Gas Australia confirmed a 213m gross oil column at its Echidna-1 well offshore Brazil. The Olinda Star. From Karoon. The exploration well is located in the Santos basin…
Louisiana-based LLOG Exploration Co. began production from the Delta House floating production system (FPS) in the Gulf of Mexico. Delta House. From LLOG. Delta House is located in Mississippi Canyon 254…
Petroleum and energy minister Tord Lien opened the Valemon gas and condensate field in the North Sea on 16 April. Expected recoverable reserves from the field are 192 MMboe. Valemon ribbon cutting…
While the latest revisions to the terms for shallow water areas in Mexico’s first licensing round have increased the attractiveness of the production sharing agreement terms by improving the contractor’s upside potential, the benefits remain…
KrisEnergy began drilling the Rossukon-3ST sidetrack well offshore Thailand. Image from KrisEnergy. Rossukon-3ST is located in the G6/48 license that covers 566sq km over the Karawake basin…
Lundin’s first development project offshore Malaysia, the Bertam field, is now onstream, with plans to continue with production from remaining wells throughout 2015. Malaysia drilling operations…
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