On Tuesday, the Azeri-Chirag-Gunashli field development in the Azeri sector of the Caspian Sea produced its three billionth barrel of oil since the start of production from the Chirag platform in 1997. Read Full Article Here For more great articles: Offshore RSS Feed
A proposed cap on emissions of greenhouse gases (GHGs) will limit production growth from Alberta’s oil sands and cost the provincial economy as much as $254.74 billion (Can.) during 2025-40, according to a study by the Fraser Institute. Read Full Article Here For more great articles: Oil & Gas Journal – General Interest
New Guinea Energy Ltd. (NGE), Melbourne, has decided to hand back its final two petroleum exploration permits in Papua New Guinea and complete its planned transition to a listed investment company. Read Full Article Here For more great articles: Oil & Gas Journal – General Interest
A large shift to tight gas production in Argentina’s Neuquen basin is being driven by pricing incentives and lower costs vs. shale gas wells. However, at current costs, only the best tight gas wells break even at the incentivized $7.50/MMbtu gas price, according to analysis from research and consultancy firm Wood Mackenzie Ltd. Read Full…
Noble Energy, Avner Oil Exploration, and Delek Drilling have agreed to sell all rights in the I/16 Tanin and I/17 Karish leases offshore Israel to Ocean Energean Oil and Gas. Read Full Article Here For more great articles: Offshore RSS Feed
Nido Petroleum has issued an update on its incremental development plans for the Galoc field offshore the Philippines. Read Full Article Here For more great articles: Offshore RSS Feed
Noble Corp. has issued a brief update on its offshore drilling rig fleet. Read Full Article Here For more great articles: Offshore RSS Feed
US commercial crude oil inventories, excluding those in the Strategic Petroleum Reserve, fell 2.5 million bbl during the week ended Aug. 12 compared with the previous week’s total, according to the US Energy Information Administration’s Petroleum Status Report. Read Full Article Here For more great articles: Oil & Gas Journal – General Interest
Brent crude oil prices topped $49/bbl on the London market on Aug. 16, marking the highest front-month settlement since July 4. US light, sweet crude oil price for September delivery settled above $46/bbl on the New York market on Aug. 16. Read Full Article Here For more great articles: Oil & Gas Journal – General…
By Offshore Energy Today China’s oil giant CNPC has hired Frigstad Offshore’s semi-submersible drilling rig Frigstad Shekou. This is Frigstad’s first of two drilling rigs under construction at China’s Yantai CIMC Raffles yard. With the length of 117m, width of 92.7m and height of 118m, Frigstad Shekou is equipped with DP3 dynamic positioning system and…