Deepwater ///

Oil rigs left idling turn Caribbean into expensive parking lot

Imagine parking your $300 million boat for months out in the open sea, with well-paid mechanics hovering around it and the engine running.

Exxon’s Guyana oil find may hold 700 MMbbl

An Exxon Mobil discovery off the coast of Guyana may hold oil and natural gas worth 12 times the South American nation’s entire economic output.

Oil explorers retreat from shallow U.S. Gulf in shift to shale

Energy producers are abandoning the search for oil and natural gas close to shore in the U.S. Gulf of Mexico as drilling budgets shrink and exploration migrates to land-based shale fields.

API highlights adoption of industry standards in proposed well control rule

The American Petroleum Institute (API) has welcomed the federal government’s effort to align regulations for offshore well control with industry standards in comments filed with the Bureau of Safety and Environmental Enforcement (BSEE).

BOEM offers 22 million acres in Gulf of Mexico August lease sale

Bureau of Ocean Energy Management (BOEM) Director Abigail Ross Hopper announced Thursday that the bureau will offer approximately 21.9 million acres offshore Texas for oil and gas exploration and development in a lease sale that will include all available unleased areas in the Western Gulf of Mexico Planning Area.

ConocoPhillips cuts deepwater exploration spending, cancels drillship contract

ConocoPhillips is to reduce future deepwater exploration spending, with the most significant reductions coming from the company’s operated Gulf of Mexico program, the company said Thursday.

Big Oil to battle for Mexico’s deep crude after snub

International energy producers that sat out Mexico’s historic auction of oil and natural gas fields this week will be among the fiercest competitors for potentially massive deepwater prospects that go up for sale as soon as next month.

Schlumberger receives Center for Offshore Safety SEMS certification

Schlumberger has achieved SEMS certification to Center for Offshore Safety Program expectations and 30 CFR 250 Subpart S requirements. Schlumberger is the first service/supply contractor to achieve this voluntarily, further demonstrating their commitment to SEMS, assurance of their safety management system, and to ensure they know where is best to focus their continuing work on safety management.

Statoil awards production chemicals contract to Baker Hughes

Statoil Petroleum awarded Baker Hughes an eight-year contract to design and supply production chemicals to the offshore Norne field and the deepwater Aasta Hansteen field in the Norwegian Sea.

BG, Petrobras achieve ambitious ultra-deepwater drilling target

In November 2011, BG’s Brasil’s well engineering team and Petrobras set out an ambitious target at a historic drilling performance workshop—to drill ultra-deepwater, pre-salt wells from spud to final depth in 30 days at a cost of less than $30 million.

Regional report: Northwest Africa

Laura White, Todd Jensen, Wood Mackenzie

The northwest frontier region has seen a boost in exploration efforts, rewarded by some key discoveries that define the region as an up-and-coming E&P province.

G&G integration enhances acquisition of multi-client studies offshore Gabon

Gregor Duval, Jo Firth, CGG

Integrated geoscience project to shine light on Gabon South basin.

Retooling for the upturn

Mike Slaton, Contributing Editor

With rig contract cancellations, fleet retirements, and large-scale cost-cutting slicing through the offshore drilling market, new technology assumes an even more important role in safety, efficiency, capability and—ultimately—marketability. As utilization drops, advantage is often found in innovation—if not now, then certainly in the upturn that will arrive eventually.

Offshore in depth

Ron Bitto, Contributing Editor

Disputed waters raise hopes, create conflict

World of oil and gas

Roger Jordan, World Oil

World of oil and gas

Brazil is in deep trouble: DW Monday

Petrobras has long been a pioneer in the adoption and deployment of deepwater technology. This has enabled them to build huge reserves of some 16 Bbbl of oil. Converting these reserves to production, however, is another matter and Petrobras has a history of setting ambitious targets, with a poor record of meeting them.

FPSO Cidade de Itaguaí arrives in Lula field

The floating production, storage and offloading unit (FPSO) Cidade de Itaguaí is now anchored in the Iracema Norte area of Lula field, in the pre-salt layer of the Santos basin, off the coast of Rio de Janeiro.

BP’s spill deal is ‘catalyst’ for acquirers as uncertainty ends

BP’s $18.7 billion U.S. legal settlement is being cheered by investors and analysts as it ends five years of financial uncertainty. It also makes the British oil producer a more attractive takeover target.

ION launches MexicoSPAN in Mexico’s offshore Gulf waters

ION Geophysical Corporation has launched the first phase of MexicoSPAN, encompassing more than 22,000 km of deep-imaged 2D seismic data.

PetroRio buys Petrobras’ stake in Bijupirá, Salema fields

PetroRio has signed an agreement to acquire 20% of the rights and obligations of the concession contracts for Bijupirá and Salema fields from Petrobras.