- FILTER YOUR SEARCH
Cost cuts targeted for Equinor's Bay du Nord
Partners striving for 'better business case' before progressing with challenging deep-water projectWeekly upstreamonline.com 14 Mar 23:00 GMT
Total eyes Preowei design contest
French operator considers launching competition to find subsea contractor for delayed deep-water project off NigeriaWeekly upstreamonline.com 14 Mar 23:00 GMT
Equinor’s Sverdrup topsides move pays off
Pioneering Spirit to begin heavy-lift work at North Sea fieldWeekly upstreamonline.com 14 Mar 23:00 GMT
Market 'cushion' to take sting out of Venezuela hit
Monthly report from IEA highlights uncertainty over South American producer but points to spare capacity recently freed up by Opec cutsOnline upstreamonline.com 14 Mar 23:00 GMT
Sabah still pushing for royalty hike in Malaysia
Government officials in Sabah are continuing to push Malaysia’s Prime Minister Mahathir Mohamad to increase the 5% oil royalty paid to the hydrocarbon-producing state. “The 5% value is ludicrous in this day and age,” said Kemabong assemblyman Jamawi Jaafar. “The state government, through Chief Minister Shafie Apdal, has asked for an increase of the oil royalty to 20% for Sabah.” Jamawi further arWeekly upstreamonline.com 14 Mar 23:00 GMT
Nigeria sees low turnout
Nigerian Peoples Democratic Party (PDP) leader Atiku Abubakar said voter turnout was low in last weekend’s gubernatorial and State Assembly elections, blaming the violence and irregularities experienced by a jaded electorate during presidential elections held in late February, writes Barry Morgan. Abubakar lost the presidential elections to incumbent head of state Muhammadu Buhari, flagbearer ofWeekly upstreamonline.com 14 Mar 23:00 GMT
Equinor possible target of GPS jamming
Equinor’s drilling operation at the Gjokaasen prospect in the Barents Sea may have been the target for Russian jamming of global positioning system (GPS) signals, according to Norwegian police, writes Beate Schjolberg. Norwegian authorities last year registered a total of six weeks of disruptions to GPS signals in the airspace over the northern county of Finnmark caused by signals sent from the RWeekly upstreamonline.com 14 Mar 23:00 GMT
Iran says it will respond if Israel takes action
Iran has warned against any military action a week after Israel said its navy could act against Iranian oil “smuggling” to enforce US sanctions. Israel’s Prime Minister Benjamin Netanyahu told naval officers last week that the Islamic Republic was still resorting to clandestine measures to ship fuel. Iran’s Minister of Defence Amir Hatami said Tehran had the military capabilities to confront anyWeekly upstreamonline.com 14 Mar 23:00 GMT
Guaido reported to be working on new energy legislation in Venezuela
Venezuela’s self-proclaimed interim president Juan Guaido is said to be preparing draft legislation that would allow international companies to have a more active role in the country’s oil and gas sector, writes Fabio Palmigiani. The proposed revamp in the hydrocarbons sector of the oil-rich nation takes place as the power struggle between Guaido and incumbent Nicolas Maduro is about to enter itsWeekly upstreamonline.com 14 Mar 23:00 GMT
Protest campaign continues in Algeria
Public dissatisfaction with President Abdelaziz Bouteflika has not abated despite his promise not to seek another termWeekly upstreamonline.com 14 Mar 23:00 GMT
Saipem spree
Saipem has revealed new onshore contract awards and contract extensions in five different countries worth a total of $220 million. The Italian services player has won a new deal and a deal extension in Saudi Arabia as well as a fresh contract in Bolivia. Other extensions were in Peru, Morocco and Romania. No individual contract values were disclosed.Weekly upstreamonline.com 14 Mar 23:00 GMT
UK faces dip in oil revenues
UK government receipts from the oil and gas industry up to 2024 are expected to be an average of £600 million ($792 million) a year lower than forecasts made a few months ago. The figures, a revision of estimates made in October, were published by the UK’s budget watchdog following Chancellor of the Exchequer Philip Hammond’s spring financial statement to parliament on Wednesday. Revenues for thWeekly upstreamonline.com 14 Mar 23:00 GMT
Output is on the up for UK
UK oil and gas production increased by more than 4% in 2018 year-on-year to 1.7 million barrels of oil equivalent per day, continuing the recent reversal of a longer-term trend of decline, according to new report from the Oil & Gas Authority (OGA), writes Rob Watts. In 2018, oil output alone rose to 1.09 million barrels per day — up 8.9% on the previous year and the highest UK crude production raWeekly upstreamonline.com 14 Mar 23:00 GMT
Production cash flows in to cut debt pile
Premier Oil has hailed the improving health of its UK North Sea business, where strong production of new high-margin barrels is now driving cash flow and slicing away at burdensome debt levels, writes Rob Watts. Premier posted a net profit of $133.4 million for 2018, returning to positive numbers after recording a net loss of $253.8 million the previous year. This was on the back of record outpuWeekly upstreamonline.com 14 Mar 23:00 GMT
Pressure pumpers work through price slump
Services players across US shale sector talk numbers with operators to tackle weakened hydraulic fracturing marketWeekly upstreamonline.com 14 Mar 23:00 GMT
Shell makes stand against reversing methane regulations
Anglo-Dutch supermajor Shell has put its head above the parapet and argued strongly against a proposal to roll back US methane regulations, writes Caroline Evans. Shell Oil president and executive vice president of unconventionals Gretchen Watkins told a conference in Houston this week that the company supports direct regulation of methane on existing and future sources, and does not support theWeekly upstreamonline.com 14 Mar 23:00 GMT
Chinese government to cut red tape for developments
The Chinese government has further relaxed its policy on onshore and offshore oil and gas development by foreign companies in China by allowing them to proceed with projects without having to wait on approvals for overall development plans (ODPs), writes Xu Yihe. In late February, the country’s Cabinet, the State Council, issued a circular saying that while ODPs would still be submitted for onshoWeekly upstreamonline.com 14 Mar 23:00 GMT
Relief for yard as trio of deep-water rigs find work
Semisubs built by CIMC Raffles secure charters, with Beacon Atlantic to drill off Norway, and Bluewhale 1 and Bluewhale 2 to drill in South China SeaWeekly upstreamonline.com 14 Mar 23:00 GMT
Lebanon qualifying
A pre-qualification exercise for Lebanon’s second licensing round is set to start within weeks. A source close to the planned acreage offering said oil companies interested are due to start being pre-qualified “this month”. It is understood the proposed timetable would call for bids to be submitted this October, with contracts finalised in early 2020. Four blocks are available: Block 1 in the fWeekly upstreamonline.com 14 Mar 23:00 GMT
SBM lines up yard for FPSO
SBM Offshore has lined up a Chinese yard to build the hull of a floating production, storage and offloading vessel under the Dutch floater specialist’s Fast4Ward design, writes Xu Yihe. The order with Chinese yard China Merchant Heavy Industry (CMHI) is the third for a Fast4Ward hull to be made in China by SBM. SBM confirmed to Upstream last week that it has placed the order for its third Fast4WWeekly upstreamonline.com 14 Mar 23:00 GMT
Awilco order latest sign rig market recovery is close
One year on from its surprise order for a newbuild semi-submersible rig at Keppel Shipyard, UK-based Awilco Drilling has doubled down on its belief in a vibrant harsh-environment market. The company last week firmed up the first of its three options with Keppel Fels for an identical midwater unit to the one ordered in February 2018 for $425 million. The second Moss Maritime CS60 Eco MW-design seWeekly upstreamonline.com 14 Mar 23:00 GMT
China stepping into the offshore spotlight
The head of French classification society Bureau Veritas (BV) in China believes the country has stepped into the offshore engineering and fabrication spotlight by drawing on its strong shipbuilding industry and is steadily coming into its own as a provider of services and products, including subsea systems, writes Xu Yihe. Claude Maillot, senior vice president and chief executive of BV's marine aFocus Editions upstreamonline.com 14 Mar 23:00 GMT
CNOOC to plug in to digital revolution
In a recent open letter to employees at China National Offshore Oil Corporation (CNOOC), chairman Yang Hua expresses a degree of frustration with a major challenge facing the oil and gas industry, writes Xu Yihe. He highlights the challenges facing industry to adapt to the changing operating environment brought about by advances in digital technology. Yang tells employees that the digital worldFocus Editions upstreamonline.com 14 Mar 23:00 GMT
Chevron closing in on Anchor award
D-day by end of this month on shipyard plans for semisub constructionWeekly upstreamonline.com 14 Mar 23:00 GMT
Kenya eyes start-up for Lamu export terminal
Government looking to have facility operational by end of year as Tullow targets Lokichar sanctionWeekly upstreamonline.com 14 Mar 23:00 GMT
Improving economics for China’s renewables sees positive rethink
China’s state-run oil companies are re-considering renewable power, both as a profit generator and a source of environmentally friendly power for their upstream operations, writes Xu Yihe. The nation's second-largest energy company Sinopec is pursuing geothermal heating projects in northern China’s Hebei province. It now provides geothermal heating for an area of around 50 square kilometres, a sFocus Editions upstreamonline.com 14 Mar 23:00 GMT
Total to wait for well data
France's Total reckons an appraisal well due to be drilled in the second half of this year will be crucial in sizing up the Chevron-operated Ballymore discovery and in determining an ultimate development plan for the deep-water US Gulf discovery, writes Kathrine Schmidt. Chevron currently has the drillship Pacific Sharav on site at Mississippi Canyon 434, the site of the US supermajor's Yarrow prWeekly upstreamonline.com 14 Mar 23:00 GMT
QGEP in campaign at Atlanta
Brazilian independent Queiroz Galvao E&P (QGEP) has started drilling a new oil production well in the Atlanta field off Brazil in an attempt to increase output from the Santos basin deep-water development, writes Fabio Palmigiani. The campaign, taking place in 1549 metres of water with the drillship Laguna Star, owned by sister company Constellation Oil Services, is expected to last 90 days. TheWeekly upstreamonline.com 14 Mar 23:00 GMT
Going with the flow...
Jon Oliver Bryce has left as chief executive of Awilco Drilling, to be replaced by Prosafe chief operating officer Jens Berge EQT has appointed Gary Gould chief operating officer Angus Energy has named Paddy Clanwilliam chairman, Carlos Fernandes finance director and Andrew Hollis technical director Nostrum Oil & Gas has appointed Robert Tinkhof chief operating officer, replacing the retiring HWeekly upstreamonline.com 14 Mar 23:00 GMT
Vaar gets online at Goliat
New operator of Barents Sea facility calls in Telenor for 2G and 4G network upgradesWeekly upstreamonline.com 14 Mar 23:00 GMT
Inspector remorse in Russia
Russian technical watchdog Rosteknadzor revealed in a recent report that a key gas pipeline feeding a major region near Moscow that suffered a huge explosion late last year had not been subjected to any inspections in 67 years. The report was prepared after a major accident on the Serpukhov–Leningrad trunk gas pipeline near the village of Ivankovo on the eve of 2019 left thousands of residents inWeekly upstreamonline.com 14 Mar 23:00 GMT
Arrests follow Scottish Oil Club dinner protests
Police arrested and charged 14 people after protests against the fossil fuel industry at the Scottish Oil Club’s annual dinner at the National Museum of Scotland in Edinburgh last week. About 20 activists from the Extinction Rebellion Scotland group occupied the main hall of the museum and several chained themselves to railings in an attempt to delay the dinner, usually attended by more than 800Weekly upstreamonline.com 14 Mar 23:00 GMT
Engie closing in on 90% stake in TAG pipeline
French company closing in on deal to take control of system in northern Brazil as Petrobras expands plans for divestmentWeekly upstreamonline.com 14 Mar 23:00 GMT
Petrobras near sale of assets
At the other end of the scale from the huge TAG pipeline transaction with France's Engie, Brazilian giant Petrobras is also close to selling some of the mature onshore assets that were packaged into divestment clusters, writes Gareth Chetwynd. Brazilian independent PetroReconcavo is positioned to pick up a cluster of selected oilfields in the state of Rio Grande do Norte, known collectively as RiWeekly upstreamonline.com 14 Mar 23:00 GMT
OHH dishes out Permian grants
Houston-based charity Oilfield Helping Hands (OHH) has dished out its first grants from its Permian basin chapter to industry workers. The non-profit organisation, which helps families that work in the sector and are in crisis, did not, however, disclose how many people received grants or the total sum of funds distributed. To qualify for a grant from the chapter covering the prolific shale patcWeekly upstreamonline.com 14 Mar 23:00 GMT
State-owned rig outfit offers lifeline to Chinese yards
New management company looking to monetise abandoned offshore units via sales or leasesFocus Editions upstreamonline.com 14 Mar 23:00 GMT
Venture for CMIC Ocean
Chinese drilling equipment package provider CMIC Ocean En-Tech Holding, formerly known as TSC Group, is expanding into marketing and management of offshore drilling rigs through its joint venture with China Merchants, writes Xu Yihe. Hong Kong-listed CMIC Ocean refocused its business operations in late 2017, when China Merchants, via its subsidiary China Merchants & Great Wall Ocean Strategy & TeFocus Editions upstreamonline.com 14 Mar 23:00 GMT
PetroChina and Sinopec remain leaders in drive for shale gas
China will continue to rely on the country’s top two energy companies, PetroChina and Sinopec, to boost shale gas production to a target of 80 billion to 100 billion cubic metres per annum by 2030, following the government's lack of success in attracting private and independent companies to the sector, writes Xu Yihe. Some are questioning the government’s commitment to the initiative, given thereFocus Editions upstreamonline.com 14 Mar 23:00 GMT
CNOOC Ltd sets course to double its reserves
Company will need to make huge new discoveries to hit ambitious seven-year target and take on more expensive and riskier projectsFocus Editions upstreamonline.com 14 Mar 23:00 GMT
China set to dock as world’s largest LNG importer
Country aims to capitalise on growing availability of sales and purchase agreements as political drive and demand for cleaner fuel spreadsFocus Editions upstreamonline.com 14 Mar 23:00 GMT
Shell and Total target Ordos basin tight gas output
International supermajors Shell and Total hope to boost tight gas production in the Ordos basin despite complex geological challenges in the northern China region, writes Xi Yihe. France’s Total has been working with PetroChina since 2011 to develop the Sulige South tight gas field, where the challenges include changing dip, significant back pressure from the horizontal wells and possible leaks fFocus Editions upstreamonline.com 14 Mar 23:00 GMT
US-China dispute casts a shadow
Trade friction between China and the US has added uncertainties about China’s ability to rely on North America for a portion of its liquefied natural gas imports, writes Xu Yihe. Officials on both sides are hopeful that ongoing, intense negotiations between the two countries will sort out the dispute. LNG exports could help the US reduce its trade deficit with China and at the same time allow gaFocus Editions upstreamonline.com 14 Mar 23:00 GMT
LNG players slam Western Australia's emission guidelines
Industry claims Environmental Protection Authority recommendations on greenhouse gases discourage future investmentWeekly upstreamonline.com 14 Mar 23:00 GMT
Vietnam plans LNG import development at Khan Hoa
Vietnam National Petroleum Group (Petrolimex) has unveiled plans to build a liquefied natural gas import project on home soil, following the lead of state-owned PetroVietnam. Petrolimex’s plans centre on an LNG receiving and regasification terminal in the southern province of Khan Hoa. Gas would be used as feedstock at a nearby power plant to be built by Vietnam Electricity or EVN. Meanwhile, PeWeekly upstreamonline.com 14 Mar 23:00 GMT
PFLNG Satu en route to Kebabangan field
Petronas leaves Kanowit for new destinationWeekly upstreamonline.com 14 Mar 23:00 GMT
Freeport LNG sets sights on more trains for Texas
Privately owned US liquefied natural gas developer Freeport LNG is set to consider expanding its Texas facility beyond the four liquefaction trains it is already planning, writes Caroline Evans. "We have visions of Freeport being more than just a four-train company," Freeport LNG chief executive Michael Smith told Upstream on Monday. Freeport is currently building a three-train, 15 million tonneWeekly upstreamonline.com 14 Mar 23:00 GMT
Premier Oil continues to get more from its Chim Sao field
UK operator Premier Oil believes there are 45 million barrels of oil equivalent remaining in the Chim Sao field reservoirs off Vietnam and the potential for additional volumes, writes Russell Searancke. The field contained 55 million boe at the time of sanction in 2009, and has already produced 77 million boe, said Premier. Operating costs are $5 per boe plus $6 per boe for lease rates. In 2018Weekly upstreamonline.com 14 Mar 23:00 GMT
Jadestone to receive bids for production facilities
Player to weigh up offers for floater and wellhead platforms at Nam Du-U Minh project off coast of VietnamWeekly upstreamonline.com 14 Mar 23:00 GMT
Berry to focus on US basin
US conventional oil operator Berry Petroleum has cut capital expenditure and in 2019 will shift almost all of its investment toward California’s San Joaquin basin, writes Julia Martinez. “For Berry, right now, it's all about California,” chief executive Trem Smith said in a fourth-quarter earnings call. Berry operates in the San Joaquin basin of California, the Piceance basin in Colorado and theWeekly upstreamonline.com 14 Mar 23:00 GMT
Resumption of extended well test sees output rise at Mero
Production from the Mero pre-salt field has soared after Brazil’s Petrobras resumed operations from an extended well test in the Santos basin development, writes Fabio Palmigiani. The single well test, being carried out by the Pioneiro de Libra floating production, storage and offloading vessel, reached 34,200 barrels per day of oil and 2.3 million cubic metres per day of natural gas in January fWeekly upstreamonline.com 14 Mar 23:00 GMT
Corpus Christi gas boost
US federal regulators have given liquefied natural gas developer Cheniere Energy the green light to introduce feed gas to its second liquefaction train at the Corpus Christi liquefied natural gas export facility. The company asked the Federal Energy Regulatory Commission (Ferc) to begin commissioning activities on the second train on 26 February. Chief executive Jack Fusco earlier said the unitWeekly upstreamonline.com 14 Mar 23:00 GMT
Wildcats lose their bite as seven out of eleven prove toothless
Norway is off to a mediocre start to its exploration year, with seven of 11 wildcats completed so far this year coming up dry, write Beate Schjolberg and Ole Ketil Helgesen. Now all eyes are on Equinor’s ongoing probe at the Gjokaasen Deep prospect in the Barents Sea as one of this year’s most-watched and high-potential wells approaches reservoir depth. Junior independent Wellesley Petroleum wasWeekly upstreamonline.com 14 Mar 23:00 GMT
Hyundai signs deal to acquire compatriot DSME
Merged entity of South Korea’s Hyundai Heavy Industries and Daewoo Shipbuilding & Marine Engineering to control a fifth of global shipbuilding marketWeekly upstreamonline.com 14 Mar 23:00 GMT
Aker invests in Airborne
Engineering giant Aker Solutions has made an investment in Netherlands-based thermoplastic composite pipe manufacturer Airborne Oil & Gas. The Oslo-based services contractor joins a list of big-name investors in Airborne, including Chevron, Saudi Aramco, Shell, Subsea 7, Sumitomo Corporation, Evonik and private equity investor HPE Growth Capital. Neither company revealed details of the investmenWeekly upstreamonline.com 14 Mar 23:00 GMT
M&A deal flow in US slows
The US market for mergers and acquisitions has slowed so far this year as companies deal with sour investor sentiment and commodity price volatility, according to leading US oil and gas investment houses, writes Caroline Evans. Last year saw around six large deals, including Concho Resources' $9.5 billion takeover of RSP Permian, but the momentum has not carried over into 2019, Tudor Pickering HoWeekly upstreamonline.com 14 Mar 23:00 GMT
Sierra Leone set for relaunch
Sierra Leone will relaunch a licensing round next month, with five blocks across shallow- and deep-water areas to be put up for grabs. “At the end of April, we will re-launch the licensing round,” Petroleum Directorate director general Timothy Musa told Upstream on the sidelines of the CERAWeek by IHS Markit conference in Houston. “We are going to offer very competitive blocks with 2D and 3D seiWeekly upstreamonline.com 14 Mar 23:00 GMT
Russian backing for Total
Russian authorities have promised to provide full support to France's Total if the company decides to exercise its option to buy an additional 5% stake in the Arctic LNG 2 project on Russia's Gydan Peninsula, writes Vladimir Afanasiev. According to Russian Federal anti-monopoly service FAS, Total will “only have to inform” authorities that it is increasing its stake in the liquefied natural gas pWeekly upstreamonline.com 14 Mar 23:00 GMT
Crude prices extend gains
Drop in US inventories and heavier output cuts combine with Venezuela chaos to fuel rallyWeekly upstreamonline.com 14 Mar 23:00 GMT
YPF close to Tango start
Argentine state oil company YPF is closing in on initial production later this year via Exmar’s Tango floating liquefied natural gas unit, which the company sees as the first “baby steps” towards realising its export potential from the Vaca Muerta shale. YPF said the FLNG barge, which has capacity ranging from 500,000 to 2 million tonnes per annum, arrived in Argentina about a month ago after a lWeekly upstreamonline.com 14 Mar 23:00 GMT
Aker wins FEED deal at Chevron's Jansz-Io
US supermajor confirms award of contract at offshore compression projectWeekly upstreamonline.com 14 Mar 23:00 GMT
Ecuador licence round lands seven out of eight
Gran Tierra and Frontera-GeoPark partnership take five blocks between themWeekly upstreamonline.com 14 Mar 23:00 GMT
ITT output set to hit 80,000 bpd
Heavy oil production from Ecuador’s Tiputini-Tambococha-Ishpingo (ITT) development will reach 80,000 barrels per day this month, up from year-end output of 64.000 bpd, according to state-run Petroamazonas, writes Gareth Chetwynd. ITT’s production rose to 72,000 bpd in the first days of 2019, when Petroamazonas increased water processing and injection capacity, according to the company’s general mWeekly upstreamonline.com 14 Mar 23:00 GMT
Onshore and offshore fields in Adnoc spotlight
Abu Dhabi National Oil Company (Adnoc) is poised to embark on a series of onshore and offshore development projects as it works to significantly ramp up its crude production capacity over the next decade, writes Nishant Ugal. Adnoc aims to increase its oil production capacity to 4 million barrels per day by 2020, and to 5 million bpd by 2030. The emirate presently has an oil production capacityWeekly upstreamonline.com 14 Mar 23:00 GMT
OPINION: Norway swaps oil for political fudge
Government's decision to drop oil company investments from pension fund is symbolic move with limited effectWeekly upstreamonline.com 14 Mar 23:00 GMT
Tullow eyes Zambia step
Tullow Oil is considering its next steps in Zambia after establishing that an extension of the East Africa Rift System could be more complex than thought. “In 2018, interpretation of a full tensor gradiometry survey and modelling of passive seismic data... indicated that this rift basin may be higher risk than originally anticipated,” said the company in its annual report. “Tullow is therefore evWeekly upstreamonline.com 14 Mar 23:00 GMT
Mozambique stake for QP
Qatar Petroleum (QP) is further expanding its overseas upstream presence by striking a deal with Italian operator Eni for a 25.5% interest in Block A5A off Mozambique. The acquisition underlines QP’s determination to become a major investor in global gas assets as it pushes ahead with a major expansion of its liquefied natural gas production to ensure its status as the world’s largest LNG exporWeekly upstreamonline.com 14 Mar 23:00 GMT
Maputo weighs up round
Mozambique’s government is considering a proposal from INP, the country’s oil and gas regulator, to hold a sixth licensing round, but a final decision has yet to be made, writes Iain Esau. “We still don’t know what the feedback is from the government,” INP project manager Jose Branquinho said last week at an Appex event in London. Nevertheless, he said the INP aims to start an acreage nominationWeekly upstreamonline.com 14 Mar 23:00 GMT
Vaalco targets Africa growth
US independent Vaalco Energy aims to strengthen its shallow-water oil portfolio in Africa through mergers and asset acquisitions, writes Iain Esau. Building on the producing and cash-generating Etame project off Gabon, chief executive Cary Bounds said that by 2025 “we are targeting five times growth in production reserves and value.” He told analysts at the company’s fourth quarter earnings lateWeekly upstreamonline.com 14 Mar 23:00 GMT
BP's Birrell facing his biggest challenge in 30 years
From childhood on a farm in Fife to the sharp end of the rapidly evolving digital oilfieldsWeekly upstreamonline.com 14 Mar 23:00 GMT
Petronas posts profits boost
Malaysian state player warns of 'year of uncertainty' due to price volatility and geopolitical riskWeekly upstreamonline.com 14 Mar 23:00 GMT
OMV casts wide net for Wisting
'More than a dozen' contractors, shipyards and FPSO players sounded out for challenging Barents projectWeekly upstreamonline.com 14 Mar 23:00 GMT
New players enter fray in Colombia's latest round
First licensing exercise in five years attracts offers from companies making their first forays into the country, amid renewed interest from othersWeekly upstreamonline.com 14 Mar 23:00 GMT
Shell planning to drill at Col-3 and Gua-3 after E&P deals
Anglo-Dutch supermajor Shell has finalised exploration and production contracts for two blocks off Colombia, with expectations to drill an exploration well by next year at the latest, writes Julia Martinez. Shell’s Col-3 and Gua-3 tracts in the Caribbean Sea were upgraded from technical evaluation agreements to exploration and production contracts early last week. The blocks cover around 800,00Weekly upstreamonline.com 14 Mar 23:00 GMT
Wang and CNPC betting big on oil finds in north-west China
Chinese giant's chairman — who is expected to retire this year — stepping up exploration to tackle rapidly declining outputFocus Editions upstreamonline.com 14 Mar 23:00 GMT
China on the road towards energy transition
Government is urging change as a vital part of the country’s future energy plan and companies are taking up the challengeFocus Editions upstreamonline.com 14 Mar 23:00 GMT
Agogo could be new hub
Eni could have a new hub project on its hands off Angola after discovering between 450 million and 600 million barrels of oil equivalent in place at the Agogo prospect in Block 15/06, writes Iain Esau. Agogo, which has resource upside, lies about 20 kilometres west of Eni’s N’Goma (West Hub) floating production, storage and offloading vessel. While a subsea tie-back to the floater could make senWeekly upstreamonline.com 14 Mar 23:00 GMT
Agogo rings the changes
Eni’s large Agogo oil discovery off Angola has highlighted the country’s remaining exploration potential at a critical time for the country. Agogo — a type of African cowbell — and Eni’s two other recent discoveries at Kalimba and Afoxe in Block 15/06, will be music to the ears of Angola's President Joao Lourenco, whose revenue-strapped government is desperate to attract investment dollars. AngoWeekly upstreamonline.com 14 Mar 23:00 GMT
China reaches for Blue Sky with gas drive
Government relying on fuel as stepping stone to renewable energy, with demand set for huge increaseFocus Editions upstreamonline.com 14 Mar 23:00 GMT
Kenyan oil law finally enacted
Kenya President Uhuru Kenyatta has finally enacted a new petroleum code to govern upstream policy, exploration and production, setting broad parameters for institutional reforms set to frame operations and apportion revenue. Under the new 2019 Petroleum Act, the central government will retain 75% of oil revenues while county governments shall receive 20% and local host communities 5% of the proceWeekly upstreamonline.com 14 Mar 23:00 GMT
Foreign players pitch in for China
Foreign companies in production sharing partnerships with China National Petroleum Corporation (CNPC) are expanding their operations in China, cashing in on initial successes in the world’s largest energy-consuming country, writes Xu Yihe. CNPC’s production partners, led by Anglo-Dutch supermajor Shell, Total of France and US giant Chevron, last year produced more than 10 million tonnes of oil eqFocus Editions upstreamonline.com 14 Mar 23:00 GMT
CNPC drilling spree aimed at prioritising domestic output
China National Petroleum Corporation (CNPC) has decided to drill up to 20,000 oil and gas wells per year through 2024, many of which will target shale gas, tight gas and shale oil, writes Xu Yihe. In 2019 alone, drilling footage is expected to rise by 20%, and the number of horizontal wells will reach 2000, the company said. Wang and CNPC betting big on oil finds in north-west China SourcesFocus Editions upstreamonline.com 14 Mar 23:00 GMT
Awilco order at Keppel
Singapore’s Keppel Offshore & Marine has boosted its order book with another US$425 million harsh environment semi-submersible rig for repeat customer Awilco Drilling, writes Amanda Battersby. Keppel Fels will construct the mid-water semisub, scheduled for completion in the first quarter of 2022, after Awilco exercised an earlier secured option. The Oslo-listed drilling company has independent oWeekly upstreamonline.com 14 Mar 23:00 GMT
Calls to tackle frack hits in US
The US shale industry is being urged to take a more organised approach to dealing with the growing problem of interference between wells, writes Caroline Evans. Operators have until recently approached the growing issue of frack hits, which occur when the intensity of completions migrate to other wells and cut into production, on a trial-and-error basis by experimenting with the amount of spacingWeekly upstreamonline.com 14 Mar 23:00 GMT
Financing headwind forces delay at Equinor's Tampen
Equinor has pushed back a final investment decision for its Hywind Tampen floating wind development off Norway to the fourth quarter from mid-year as it struggles to meet its partners’ required rate of return for the project. The Norwegian player is set to release its impact assessment report on Hywind Tampen in a couple of weeks. The project aims to cut emissions from the Snorre and Gullfaks fiWeekly upstreamonline.com 14 Mar 23:00 GMT
Husky to start White Rose recovery work
Canadian independent set to begin flowline connector recovery on FridayOnline upstreamonline.com 14 Mar 21:39 GMT
Attack on Cano Limon pipeline causes crude spill
Pipeline system attacked 12 times already this yearOnline upstreamonline.com 14 Mar 21:35 GMT
Total takes Nigeria-Sao Tome blocks
French giant signs trio of PSCs for acreage in joint development zoneOnline upstreamonline.com 14 Mar 21:32 GMT
Jumbo wins Dutch decom work with Taqa
Contract awarded for removal of three subsea protection domes and pilesOnline upstreamonline.com 14 Mar 21:12 GMT
Frontera sees better times ahead after Q4 loss
Canadian independent recently bid in Ecuador's onshore roundOnline upstreamonline.com 14 Mar 17:19 GMT
Venture Global to double LNG capacity
US liquefaction player to expand export capacity to 60 mtpa across two projectsOnline upstreamonline.com 14 Mar 17:18 GMT
Rosneft claims victory in Lukoil tariffs spat
Russian anti-monopoly agency rules in favour of state oil giant over transhipment fees in Nenets regionOnline upstreamonline.com 14 Mar 17:17 GMT
Eni, Total line up multi-well Cyprus drive
Majors to begin back-to-back drilling programme this year, with Eni set for return to controversial Block 3Online upstreamonline.com 14 Mar 17:01 GMT
Two killed in blaze at ONGC well
Four others injured in fire at onshore India well in Ahmedabad assetOnline upstreamonline.com 14 Mar 16:49 GMT
Luno 2 PDO 'imminent' off Norway
Swedish operator set to invest $746m to exploit Norway find as subsea tieback as it continues work on Alta-GohtaOnline upstreamonline.com 14 Mar 16:36 GMT
Legacy mulls potential sale
US independent eyes alternatives as market-watchers expect Permian consolidationOnline upstreamonline.com 14 Mar 16:29 GMT
TechnipFMC set for Sverdrup SPS award
Contractor in pole position to take coveted deal on phase two of giant field scheme off NorwayOnline upstreamonline.com 14 Mar 14:09 GMT
Norway expands APA offering
90 new blocks proposed for latest round in established exploration areas with over half in Barents SeaOnline upstreamonline.com 14 Mar 13:35 GMT
Equinor eyes Norway field acquisitions
State-controlled giant targeting 'opportunities' as it faces dearth of greenfield schemes post-2022Online upstreamonline.com 14 Mar 13:02 GMT
Sanction target for NLNG Train 7
Head of key stakeholder in planned Nigerian expansion scheme gives expected FID dateOnline upstreamonline.com 14 Mar 12:59 GMT
Total’s Uganda FID seen in June
French giant, CNOOC Ltd and Tullow getting closer to Lake Albert project sanctionOnline upstreamonline.com 14 Mar 12:58 GMT