Exploration ///
Petrofac will provide FEED and conceptualization studies to clients in Oman and Libya following the award of a clutch of new contracts.
Uganda has some of the biggest oil reserves in sub-Saharan Africa – 6 Bbbl – of which it has estimated 1.4 billion are recoverable. It canceled a plan in 2016 to jointly develop an export pipeline to Kenya’s coast in favor of a southern route through Tanzania.
An auction next month of oilfields in Brazil may be the priciest ever held, raising at least $50 billion in licensing fees and compensation, according to people familiar with government estimates.
Ecopetrol reports that the Flamencos-1 well, located in Puerto Wilches, confirmed presence of crude oil in the La Paz formation.
Under the terms of the agreement, ADNOC and REA will jointly explore opportunities for collaboration in relation to Abu Dhabi’s exploration and production concessions.
"We see many prospects that have the potential to hold billions of barrels of oil. There are probably two dozen prospects HIbernia-size or bigger," said Jim Keating, executive vice president, offshore development and corporate services at Nalcor Energy.
Mongolian oil explorer Petro Matad Limited has commenced testing operations at the Heron-1 well in the north of Block XX, eastern Mongolia.
Eager to demonstrate to the world that Somalia is open for business, the minister said the country is currently on an international roadshow which will showcase the exploration opportunities available in its hydrocarbons sector.
U.S. ambassador to Angola, the Hon. Nina Maria Fite, hosted a delegation of top Angolan oil and gas officials to explore opportunities for the two nations to collaborate on the next phases of Angolan energy development.
Lease Sale 254, scheduled to be livestreamed from New Orleans, will be the sixth offshore sale under the 2017-2022 Outer Continental Shelf Oil and Gas Leasing Program.
Discovered in 2010 in an area that had been disregarded by most explorers, the site started production on Saturday and is set to reach 440,000 bpd by next summer.
Petrofac has been awarded a contract to support the concept appraisal and selection phase of Jersey Oil and Gas’ (JOG) Greater Buchan Area development in the North Sea.
While the speed of the announcement is a surprise,
Looney’s ascent to the top of the company follows a well-trodden path. Dudley’s two immediate predecessors also ran the upstream division before becoming CEO.
“In just 9% of our offshore, we have a combined resource potential of 52.2 Bbbl oil and 199.6 Tcf gas. We have over 650 leads and prospects identified to date, and $4 billion in recent exploration work commitments," said the Honorable Siobhan Coady, Canada's Minister of Natural Resources.
Supported by the African Energy Chamber, the Year of Investment 2020 is an initiative of the Ministry of Mines and Hydrocarbons to pursue Equatorial Guinea's agenda of energy cooperation and investment, and see the signing of several energy deals in 2020.
The nine blocks on offer in the Namibe basin include—11, 12, 13, 27, 28, 29, 41, 42 and 43. The single block on offer in the Benguela Basin is block 10. All are considered frontier and currently have no hydrocarbon production.
Radwa El Zidan, geophysicist from the BP-Angola asset team, said “We were very impressed by the CGG team’s commitment to achieving an early delivery of the data on what was already a challenging schedule. The early delivery of results will accelerate our active reservoir management program for this field.”
The low levels in discoveries come as a result of a pullback during the past 10 years in the wildcat drilling that targets conventional oil and gas plays—most drastically after oil prices collapsed in 2014.
Benthic has secured an offshore geotechnical and geophysical contract from TechnipFMC for the Golfinho development
There definitely is a lower-carbon model in the oil and gas industry’s future, agreed executive participants in the opening session of SPE’s 2019 Annual Technical Conference and Exhibition.