Biguet to replace Ayat as Schlumberger's finance chief

US oilfield services giant Schlumberger is set to replace its chief financial officer after present incumbent Simon Ayat resigned from the position. Ayat will step down on 22 January next year after 12 years in the role, having been with the company since 1982, and will be replaced by Stephane Biguet, who currently serves as vice president finance. However, Ayat will remain as a senior strateg

NEWS  upstreamonline.com 12 Dec 23:00 GMT Global Mediator

$10 billion hit for Chevron

Chevron is to take a $10 billion to $11 billion impairment in the fourth quarter of 2019, the majority of which is associated with its Appalachian basin shale gas asset in the north-eastern US, after revising its long-term commodity price outlook, writes Caroline Evans. The US supermajor made the disclosure in a release announcing its 2020 capital budget, which it plans to keep flat over 2019 lev

NEWS  upstreamonline.com 12 Dec 23:00 GMT Caroline Evans

Devon in new deal for Stack

US independent Devon Energy plans to jointly develop part of its Stack acreage in the Anadarko basin of Oklahoma in a joint venture with chemicals giant Dow. Under the terms of the agreement confirmed this week, Dow will commit $100 million to fund drilling over the next four years in exchange for half of Devon's working interest in 133 undrilled locations. The average working interest is estim

NEWS  upstreamonline.com 12 Dec 23:00 GMT Caroline Evans

Venture starts field revamps

A joint venture of state-owned oil producer Zarubezhneft and Uzbekistan's state oil and gas producer Uzbekneftegaz called Andijanpetro has taken on operatorship of three ageing oilfields in the Andizhan region of Uzbekistan. According to a statement from the Uzbek energy ministry, Andijanpetro will invest in rehabilitation of the South Alamyshyk, Khartum and East Khartum fields. The assets have b

NEWS  upstreamonline.com 12 Dec 23:00 GMT Vladimir Afanasiev

Energy Drilling gets PTTEP job

Energy Drilling has been awarded a long-term contract by Thailand’s state-owned PTT Exploration & Production for development drilling at the Arthit field in the Gulf of Thailand. The Singapore-based drilling contractor’s high-specification tender rig EDrill-1 will be employed on the contract, which has a firm duration of three years and four months and an optional period of seven months. Drillin

NEWS  upstreamonline.com 12 Dec 23:00 GMT Mark Hillier

SBM firms up Sepetiba award

SBM Offshore has signed firm contracts with Brazilian state-controlled operator Petrobras for the 22.5-year lease and operation of the Sepetiba floating production, storage and offloading unit, previously known as Mero 2. The deal formalised a letter of intent announced in June. "SBM Offshore is progressing with the design and construction using its industry leading Fast4Ward programme as it inc

NEWS  upstreamonline.com 12 Dec 23:00 GMT Kathrine Schmidt

Genting resets its Kasuri schedule

Genting Oil & Gas is facing challenges at its Kasuri onshore gas development in West Papua, Indonesia, where the front-end engineering and design contractor is working hard to stick to its schedule. Well-placed sources said the FEED contract was awarded to a local consortium comprising Bina Reka Cipta Utama, Tiga Inti Pilar and Suluh Ardi Engineering. Genting confirmed in its recent quarterly re

NEWS  upstreamonline.com 12 Dec 23:00 GMT Russell Searancke

Medco in mood for FEED at Sampang

Medco Energi is tempting engineering houses in Indonesia with a contract for front-end engineering and design linked to the Paus Biru shallow-water gas discovery off East Java, writes Russell Searancke. The Paus Biru field is to be developed via a single well with a minimum facility wellhead platform tied back via a 27-kilometre subsea pipeline to the existing Oyong platform. It could not be con

NEWS  upstreamonline.com 12 Dec 23:00 GMT Russell Searancke

UK E&A activity improves

UK offshore exploration and appraisal drilling is rebounding from historic lows, but operators are still failing to deliver on all of their promised activity, writes Rob Watts. The latest provisional forecast from the Oil & Gas Authority (OGA) is that 18 exploration wells and 11 appraisal wells will have been spudded by the end of this year, according to the regulator’s exploration and new ventur

NEWS  upstreamonline.com 12 Dec 23:00 GMT Global Mediator

Repsol in Indonesia exercise

Repsol and its joint venture partners in the Sakakemang permit in Indonesia are identifying potential contractors for the large Kali Berau Dalam gas discovery’s early production system, writes Russell Searancke. Sources said Repsol had launched a pre-qualification exercise to gauge the interest and capacity of the oilfield services community in delivering the onshore early production system. It

NEWS  upstreamonline.com 12 Dec 23:00 GMT Russell Searancke

OMV's NZ campaign under way

Austrian operator OMV has launched a multi-well offshore exploration drilling campaign in New Zealand that will include one ultra-deepwater well in the Great South basin. The semi-submersible rig COSL Prospector is being used in the programme, which an OMV spokesperson said will comprise the Gladstone-1 well in Block PEP 57075, the Toutouwai-1 well in PEP 60093 and the Maui-8 well in the Maui fie

NEWS  upstreamonline.com 12 Dec 23:00 GMT Russell Searancke

York Capital in DJ tie-up

Global investment firm York Capital Management plans to commit up to $125 million for drilling in Colorado's DJ basin as part of a joint venture with privately held Bayswater Resources. The investment from York Tactical Energy Fund (YTEF) will be used to drill and complete as many as 63 joint wells targeting the oil-rich Niobrara A, B, C and Codell stacked-pay intervals, YTEF said. The wells, w

NEWS  upstreamonline.com 12 Dec 23:00 GMT Caroline Evans

China set to boost output

China is expected to boost shale gas production by 18% from last year to about 13 billion cubic metres, but faces challenges to meet the government-set target of boosting output of the unconventional gas to 30 Bcm next year, writes Xu Yihe. Industry officials expect shale gas production will reach 18 Bcm next year, about 60% of the target originally set by the government in the 13th five-year pla

NEWS  upstreamonline.com 12 Dec 23:00 GMT Global Mediator

TGS starts shoot in British Columbia

TGS has started another 3D onshore seismic survey in the Montney shale play of north-east British Columbia, Canada a month after launching a similar shoot in the region, writes Caroline Evans. The Norwegian seismic contractor said last week it had started its 2020 South Halfway survey, which will "amplify" its core position in the Inga-Fireweed area. When completed, the South Halfway project wil

NEWS  upstreamonline.com 12 Dec 23:00 GMT Caroline Evans

Pemex signs up semisub

Pemex’s contracting strategy for a rig focused on midwater drilling purposes has remained uncertain, write Kathrine Schmidt and Gareht Chetwynd. Multiple sources told Upstream that the ODN Delba III unit was currently making its way to Mexico for a client focused on midwater drilling after a Dutch offshore services company made a deal for it in Brazil. Documents obtained by Upstream show that in

NEWS  upstreamonline.com 12 Dec 23:00 GMT Gareth Chetwynd

Pemex to develop Quesqui

Mexican state oil company Pemex is planning to develop the onshore Quesqui discovery that was made public in July, aiming to continue with an appraisal campaign and to target production of 110,000 barrels per day there by 2021, writes Kathrine Schmidt. The company aims to drill 11 wells and reach daily production of 69,000 barrels of oil and 300 million cubic feet of gas in the next year, a figur

NEWS  upstreamonline.com 12 Dec 23:00 GMT Kathrine Schmidt

PXP stays with hub plans

Existing operator Shell also keeping close tabs on proposal

NEWS  upstreamonline.com 12 Dec 23:00 GMT Amanda Battersby

Petronas in seismic push

Dubai-headquartered Polarcus will imminently start a streamer seismic survey off Sarawak, East Malaysia for Petronas Carigali, Malaysia’s national upstream company, writes Amanda Battersby. Petronas has contracted Bahamas-flagged 12-streamer survey vessel Polarcus Alima for the shoot, which was expected to start on or around 12 December and be completed by 31 May 2020. This project is understood

NEWS  upstreamonline.com 12 Dec 23:00 GMT Amanda Battersby

Bidding for Bahia terminal

State-controlled oil and gas company Petrobras has started pre-qualifying interested players for the long-term lease of its Bahia liquefied natural gas import terminal in its native Brazil, writes Amanda Battersby. On offer is the use of a terminal, which has regasification capacity of 20 million cubic metres per day of gas, plus the associated 28-inch, 45-kilometre pipeline connecting the termin

NEWS  upstreamonline.com 12 Dec 23:00 GMT Global Mediator

US crude growth 'to decline'

The US Department of Energy expects the nation's crude output growth rate to fall back to less than 1 million barrels per day next year as the slowdown in drilling activity is predicted to extend into next year, writes Caroline Evans. In its latest forecast, the department's Energy Information Administration (EIA) expects US crude production will average 13.2 million bpd in 2020. That is 900,00

NEWS  upstreamonline.com 12 Dec 23:00 GMT Caroline Evans

DOF eyes financing solution

Oslo-listed offshore vessel contractor DOF Subsea is proposing a refinancing solution as it works to try and restructure its significant debts amid a challenging market. The company has gained a conditional commitment from its largest indirect shareholder Laco to subscribe for Nkr200 million ($21.8 million) of new cash equity through a proposed rights issue in parent DOF aimed at raising between

NEWS  upstreamonline.com 12 Dec 23:00 GMT Global Mediator

Shakeup for Providence

Struggling Irish minnow Providence Resources is looking for a new chief executive after long-time leader Tony O’Reilly quit. The Dublin-based explorer’s founder has stepped aside from the board and all subsidiaries, but will remain with the parent company until the end of January for a handover period. In the interim, chairman Pat Plunkett will assume O’Reilly’s executive duties.

NEWS  upstreamonline.com 12 Dec 23:00 GMT Eoin O'Cinneide

Going with the flow...

Stephane Biguet is replacing Simon Ayat as chief financial officer at Schlumberger Svein Jakob Liknes has been named acting chief executive of Aker Energy after Jan Arve Haugan quit Paul McDade and Angus McCoss have left as chief executive and exploration director, respectively, of Tullow Oil, with Mark MacFarlane named chief operating officer Tony O’Reilly has quit as

NEWS  upstreamonline.com 12 Dec 23:00 GMT Global Mediator

Climate change summit

The United Nations Climate Change Conference held in the Spanish capital of Madrid entered its second week of talks covering the urgency of action on global warming, with a background of protests by environmental activists, writes Anamaria Deduleasa. There has been little new policy making so far at the COP-25 climate talks despite negotiators releasing a new text on the future of carbon markets.

NEWS  upstreamonline.com 12 Dec 23:00 GMT Anamaria Deduleasa

Iran's Rouhani in pledge to overcome US sanctions

President Hassan Rouhani suggested in midweek that Iran will overcome US sanctions which have squeezed Iranian oil exports by either by-passing them or through negotiations with Washington, writes Nassir Shirkhani. Tensions have risen between the two countries since last year when US President Donald Trump tore up the landmark 2015 nuclear deal and reimposed sanctions on Tehran. The crippling sa

NEWS  upstreamonline.com 12 Dec 23:00 GMT Global Mediator

Dos Santos graft trial begins

THE trial began in Luanda this week of Jose Filomeno dos Santos, the son of oil-rich Angola’s former president, on money laundering and embezzlement charges, writes Iain Esau. Dos Santos is accused of helping to transfer hundreds of millions of dollars out of Angola when he headed the country’s Sovereign Wealth Fund between 2013 and 2018. His co-accused are Valter Filipe da Silva, former governo

NEWS  upstreamonline.com 12 Dec 23:00 GMT Iain Esau

Waha to open up for Total

Total has agreed to invest $650 million in developing the North Gialo and NC 98 fields onshore Libya as part of a deal with the government that will now approve its entry into the Waha concessions. The French giant struck a $450 million deal in March this year to acquire Marathon Oil’s 16.33% stake in the six Waha concessions in the Sirte basin. However, Mustafa Sanalla, chairman of state-owned

NEWS  upstreamonline.com 12 Dec 23:00 GMT Iain Esau

Mexico stake for Equinor

Norwegian oil player Equinor has picked up a 20% stake in four deep-water Gulf of Mexico blocks in the remote Walker Ridge area where Spanish explorer Repsol previously permitted a prospect called Mollerussa, according to US records, writes Kathrine Schmidt. The blocks, Walker Ridge 321, 322, 365 and 366, lie only about 10 miles (16 kilometres) east of Equinor's Monument prospect, which it expect

NEWS  upstreamonline.com 12 Dec 23:00 GMT Kathrine Schmidt

Derailment investigated

Canadian federal investigators are looking into what caused a train hauling crude to go off the tracks and burst into flames in Saskatchewan earlier this week. The Transportation Safety Board (TSB) of Canada said it would deploy a team of investigators to the site of the derailment involving a Canadian Pacific train near Lanigan, Saskatchewan. No one was injured in the incident in which around

NEWS  upstreamonline.com 12 Dec 23:00 GMT Caroline Evans

Commercial start-up for Freeport LNG

The first train at the Freeport liquefied natural gas export terminal in Texas has begun commercial operations after construction delays pushed back the start-up date by nine months, writes Caroline Evans. Freeport LNG said that commercial start-up of Train 1 began last Sunday, days after contractor McDermott announced the second train had reached first LNG. The base project comprises three train

NEWS  upstreamonline.com 12 Dec 23:00 GMT Caroline Evans

Afina gets an estimate

Accra-based Springfield E&P Afina-1 discovery off Ghana is estimated by the operator to hold more than 1.5 billion barrels of oil in place. In addition, said the operator, the deep-water find houses 700 billion cubic feet of gas. Drilled in West Cape Three Points Block 2 in 1030 metres of water, the probe hit 50 metres of net, light oil pay in good quality Cenomanian sandstones, said Springfield

NEWS  upstreamonline.com 12 Dec 23:00 GMT Iain Esau

Niger Delta set for new ‘Kutt Throat’ deals

With ink barely dry on last week’s joint venture pact between PetroNor E&P and Nigerian operator Yinka Folawiyo Petroleum (YFP) for development of the Aje field on OML 113 in the Niger Delta, the Oslo-listed explorer is now poised to sign off on two more asset acquisitions. Partnered by Nigerian indigenous player Tee Mac Petroleum and backed by Emirati capital, PetroNor will earn a 75.5% particip

NEWS  upstreamonline.com 12 Dec 23:00 GMT Global Mediator