Latest News

CNOOC plans 132 exploration wells and will splash out up to $12.7B in 2018

06/02/2018 Posted by Dale

China National Offshore Oil Corporation (CNOOC) has announced that it will drill up to 132 exploration wells in 2018 and that it will also bring five projects into production.

The giant Chinese oil and gas major said it will acquired about 19000km² of 3-D seismic data as it also strives to bring the Hess-operated Stampede oil field in the United States, the Weizhou 6-13 oil field, Penglai 19-3 oil field 1/3/8/9 comprehensive adjustment project, Dongfang 13-2 gas fields and Wenchang 9-2/9-3/10-3 gas fields offshore China into production.

Bloomberg said the $12,7 billion that CNOOC planned to spend in 2018 represented the company’s highest capex in four years.

‘AWU missing the point with calls to curb gas exports’

06/02/2018 Posted by Dale

The Australian Workers’ Union should be calling for the immediate removal of state government-imposed bans on natural gas development instead of demanding heavy-handed restrictions on gas exports. APPEA Chief Executive Dr Malcolm Roberts said the gas reservation policies being pushed by the AWU would discourage investment in new domestic gas supply, drive up energy costs for businesses and families and, ultimately, cost union members their jobs. Dr Roberts said the AWU was relying on economic modelling that is dated and ignores evidence that gas prices are falling.

Katalyst Data Management Launches Well File and Well Log Scanning “Paper to Digits” Service

06/02/2018 Posted by Dale

Katalyst Data Management announced that it has launched well file and well log scanning services for the oil and gas industry. The company now has the capacity to scan volumes of well logs and associated files that are created during the life cycle of a well into an accessible PPDM database. This announcement follows Katalyst's recent completion of a successful well file scanning project involving the scanning and classification of physical well files associated with over 20,000 wells in the US Lower 48.

Prime time live-streamed Mexican acreage bids up for grabs

29/01/2018 Posted by Dale

Mexico, currently a global hotspot for exploration, will tomorrow open bids for awarding its deepwater oil and gas exploration acreage as it enters the Fourth Tender of Round 2. Tenders will be made for license contracts in 29 offshore contractual areas in the oil provinces of Perdido, Mexican Cordilleras and the Salina Basin. The Comisión Nacional de Hidrocarburos (CNH) has released a list of the nine individual companies that qualified for bidding; BHP Billiton, CNOOC, ExxonMobil, Noble Energy, Pemex, Petronas, Shell, Statoil, and Total. Seventeen consortia also taking part and in total the bidders are from 16 different countries.

Cairn sees the start line for SNE development

29/01/2018 Posted by Dale

Cairn Energy has flagged development approval for the SNE field offshore Senegal - which counts Woodside, Far and Petrosen as JV partners - by the end of 2018. This follows the third phase of a completed offshore drilling program to further evaluate the SNE field using the Stena Drill Max drillship and an operational update from the independent UK-based independent aiming to expedite developments at SNE.

PO Valley advances Saffron Energy expansion with binding deals and £14m capital raise

29/01/2018 Posted by Dale

Shareholders in Australian gas producer, Po Valley Energy have moved a step closer to benefiting from a three-way deal to become part of a larger European energy play under formal contract signings announced recently. Perth-based Po Valley said the signed binding Share Sale and Purchase Agreement with AIM-listed Saffron Energy meant Saffron would acquire onshore and offshore oil and gas production, development and exploration assets in northern Italy held by Po Valley Operations, a 100%-owned subsidiary of Po Valley Energy.

Astronaut Reilly set for lift-off as US Geological Survey Director

29/01/2018 Posted by Dale

Former astronaut, geologist and current technical adviser to the United States’ Air Force National Security Space Institute, James Reilly, is set to become director of the US Geological Survey. This was revealed by the Trump administration, with the White House announcing on Friday that it would nominate Reilly for the role. Reilly spent 13 years at NASA during which time he participated in three spaceflight missions in which over 856 hours of spacewalks were recorded, the White House said.

Shearwater awarded seismic survey off Myanmar

23/01/2018 Posted by Alison McLeod

Marine geophysical services company Shearwater has been awarded a 10,000 square kilometre marine seismic acquisition services contract by Total and Eni for their 2018 exploration program located approximately 300 kilometres offshore Myanmar. Shearwater will deploy the vessel “Polar Empress” for the survey which is expected to take about six months, commencing in January 2018. Shearwater's CEO, Irene Waage Basili commented, “We are pleased to be awarded this significant contract with two oil majors known for their high HSE & quality standards and requirements for leading operational performance. Shearwater has undertaken a significant effort since its inception to pre-qualify for work with major oil companies.

Schlumberger’s WesternGeco quits marine and land seismic acquisition business

23/01/2018 Posted by Dale

WesternGeco is exiting the marine and land seismic acquisition business, Schlumberger has announced. The company said WesternGeco had not delivered a return on expectations going forward. Schlumberger Chairman and CEO Paul Kibsgaard said: ”With the significant changes seen in customer priorities and buying habits in recent years, we have also continued to evaluate the present and future return prospects for all of our product lines, as we look to maximize all aspects of the Company’s long-term financial performance.

CGG supports 2018 Cameroon Licensing Round

23/01/2018 Posted by Dale

CGG announced that it has an agreement with Société Nationale des Hydrocarbures (SNH), the National Oil and Gas Company of Cameroon, to promote enhanced multi-client E&P data packages and interpretative products, in support of Cameroon’s 2018 Onshore & Offshore Licensing Round opened and conducted by SNH for eight free blocks on offer, located in sedimentary basins offshore and onshore Cameroon. The Licensing Round opened on 15th January 2018 and will close on 29th June 2018.