Exploration ///
The American Petroleum Institute released the following statement regarding the Department of the Interior’s presentation of nearly $500 million in revenue awarded to New Mexico from oil and natural gas production on federal lands:
Last week, I was in London at the Oil & Gas Council World Energy Capital Assembly (WECA), speaking on a panel about collaboration and capital efficiency in a new oil world.
Total is ready to start its exploration campaign on the Guyane Maritime license, located 93.2 mi (150 km) off the French Guiana coast, in the days following the arrival of the drilling ship on site, as authorized by the prefectoral decree dated October 22, 2018.
Hess Corporation has announced a 2019 E&P capital and exploratory budget of $2.9 billion. Of this, approximately 75% will be allocated to high return growth assets in the Bakken and Guyana.
Michele Cowart, World Oil
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Michele Cowart, World Oil
Companies in the news
The Ministry of Petroleum and Energy has approved the plan for development and operation (PDO) of the Troll Phase 3 development. Capital expenditures of $918.5 million (NOK 7.8 billion) will help extend the productive life of the Troll field beyond 2050.
President of PJSC LUKOIL Vagit Alekperov and Chairman of the Management Board of JSC NC KazMunayGas Alik Aidarbayev signed agreements on joint cooperation and financing of the Zhenis project in the Kazakhstan's sector of the Caspian Sea.
The U.S.’s fastest growing oil field may have even more to give.
The Partners on the Orinduik Block, being Eco Atlantic, Total and Tullow (Operator), approved the initial 2019 work plan and budget for the first exploration well on the Orinduik Block on Nov. 30, 2018.
The waters around the sensitive Lofoten islands will probably never be opened to oil exploration, according to Norway’s climate and environment minister.
Faroe Petroleum, the independent oil and gas company focusing principally on exploration, appraisal and production opportunities in Norway and the UK, is pleased to announce the commencement of the Cassidy exploration well 8/10-7 S in the Norwegian North Sea (Faroe 15% working interest).
Accenture has acquired Enaxis Consulting, a Houston-based management consulting firm with deep experience in digital capabilities, data science and agile project delivery focused on the upstream oil and gas and oilfield services sectors and the airline industry.
Eagle Resources Corporation has entered into a joint venture agreement with Freedom Energy Resources LLC to explore and develop conventional oil drilling prospects in the Lodgepole Reef Formation in North Dakota, offsetting existing Lodgepole fields.
Talos Energy Inc. has announced that the Zama-2 appraisal well was spud in late November 2018. The spudding of the Zama-2 well marks the commencement of the Zama discovery appraisal program, which will consist of three reservoir penetrations, including two wells and one sidetrack.
Royal Dutch Shell plc (Shell), through its affiliate Shell Overseas Holdings Limited, has completed the sale of its shares in Shell E&P Ireland Limited (SEPIL), which holds a 45% interest in the Corrib gas venture, for up to $1.30 billion (€1.14 billion), to Nephin Energy Holdings Limited (NEHL), a wholly-owned subsidiary of Canada Pension Plan Investment Board (CPPIB).
Rosneft Oil Company and Chinese Hengli Group signed a cooperation agreement as part of the first Russian-Chinese energy business forum. The document was signed by Igor Sechin, CEO, Rosneft Oil Company, and Chen Jianhua, president of Hengli Group.
A trio of oil executives who hit the jackpot with a gas find off Mozambique have long believed they can repeat that success not far from their original discovery.
Pemex has more than tripled its estimated reserves in its Ixachi field.
Morrison was awarded the Engineering, Procurement, Construction, Installation and Commissioning (EPCIC) contract from Trinidad and Tobago’s newest upstream operator, DeNovo Energy Limited (DeNovo).