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Latest news - International

Tullow Gets Ugandan Government Approval for $575m Asset Sale

Tullow Gets Ugandan Government Approval for $575m Asset Sale   Tullow Oil Plc received approval from the Ugandan government for its $575 million sale of assets to Total SE, sending the shares up 17%. The beleaguered oil and gas explorer had been waiting since 2017 to close the divestment, an effort repeatedly stymied by tax disagreements. As it sought relief from lenders this year to...

Dvalin field given start-up approval

Dvalin field given start-up approval   The Norwegian Petroleum Directorate has issued consent for start-up of the Dvalin field in the Norwegian Sea. Operator Wintershall DEA estimates that it can recover 18 billion m3 of gas from Dvalin. The operator's investment projection for the development is approximately NOK 11 billion. Wintershall DEA expects to start up in November/December. The field is located in production licence PL435. It consists of two structures situated 3...

Stena Drilling finds more work for Stena Forth drillship. Pens deal with Intebloc

Stena Drilling finds more work for Stena Forth drillship. Pens deal with Intebloc   Offshore drilling contractor Stena Drilling has won a deal from Chinese oil company CNOOC for the use of one of its drillships offshore Canada. The company also started using Intebloc’s data management system. According to Bassoe Offshore, CNOOC hired the Stena Forth drillship for work in the Flemish Pass, offshore Newfoundland and Labrador. The drillship will drill one well in the Flemish...

Caspian Sunrise Buys Shallow Water Drilling Vessel

Caspian Sunrise Buys Shallow Water Drilling Vessel   Caspian Sunrise, an oil and gas firm focused on Kazakhstan, has completed the acquisition of the Caspian Explorer drilling vessel, marking the company's step into offshore drilling. The company, mostly focused on onshore oil and gas activities, had proposed the acquisition of the Caspian Explorer shallow water drilling vessel in January.  It on Monday said it had completed the acquisition of the vessel. The vessel is...

PNOC-EC to start drilling activities off northwest Palawan in 2021

PNOC-EC to start drilling activities off northwest Palawan in 2021   The Philippine National Oil Co.-Exploration Corp. (PNOC-EC) is looking to start drilling activities for one of its petroleum service contracts (SC) covering an area off northwest Palawan in the last quarter of 2021. This comes as President Rodrigo Duterte has already lifted the moratorium on oil and gas exploration in the resource-rich West Philippine Sea. “With the lifting of the moratorium, part of our...

Oil Industry Turns to Mergers and Acquisitions to Survive

Oil Industry Turns to Mergers and Acquisitions to Survive   The once mighty oil and gas industry is flailing, desperately trying to survive a pandemic that has sharply reduced demand for its products. Most companies have cut back drilling, laid off workers and written off assets. Now some are seeking out merger and acquisition targets to reduce costs. ConocoPhillips announced on Monday that it was acquiring Concho Resources for $9.7 billion, the biggest deal in the industry since o...

Wood Mackenzie: how the energy sector is changing

Wood Mackenzie: how the energy sector is changing   Wood Mackenzie’s 2020 Energy and Commodities Summit Asia Pacific edition recently started, with experts sharing their views on how the energy sector is changing in light of the oil price crash, COVID-19 and the latest carbon-neutrality trends. Oil demand takes a hit; demand from petrochemicals bucks trend Global oil demand has been hit hard this year due to COVID-19 and changes in consumer behaviours. Research Analyst...

Shelf Drilling gets another jack-up suspension from Saudi Aramco

Shelf Drilling gets another jack-up suspension from Saudi Aramco   Offshore drilling contractor Shelf Drilling has received a suspension notice for one of its jack-up drilling rigs. Shelf Drilling said on Monday that an undisclosed customer sent the suspension notice for the Main Pass I jack-up rig. According to the company, the operations of the Main Pass I would be suspended for a period of up to 12 months. “The foregoing suspension at zero dayrate is effective Octobe...

ConocoPhillips to buy Concho Resources for $9.7 billion in 2020's top shale deal

ConocoPhillips to buy Concho Resources for $9.7 billion in 2020's top shale deal   ConocoPhillips said on Monday it will buy Permian-focused driller Concho Resources Inc for $9.7 billion, the largest shale deal this year as oil and gas producers turn to consolidation to survive a slowdown in oil prices and demand. The all-stock deal comes as U.S. shale companies have posted big losses due to weak crude prices amid the COVID-19 pandemic and have struggled to raise new capital to...

Sharing data from Northern Lights well

Sharing data from Northern Lights well   The Northern Lights project will disclose datasets from the confirmation well 31/5-7 Eos drilled in the North Sea and completed earlier this year. Extensive amounts of data have been acquired through coring, logging, sampling and a production test. Equinor is developing the Northern Lights project with Shell and Total as equal partners. Willing to share knowledge in a transparent manner the Northern Lights projects partners have decided t...

Philippines to restart oil and gas exploration in South China Sea

Philippines to restart oil and gas exploration in South China Sea   The Philippines will resume oil and gas exploration in the South China Sea, in a move that will test how far the country and Beijing are willing to compromise over rival maritime claims and the US’s resolve to back Manila. “We trust China will respect our sovereign decision,” Alfonso Cusi, energy secretary, said on Friday about the move to end a six-year moratorium on resource exploration in the d...

OGV Energy weekly oil and gas update

OGV Energy weekly oil and gas update   Zephyr Energy PLC this week unveiled the results of an oversubscribed share placing that it said will fully finance its maximum funding obligations for drilling the State 16-2 dual-use well at its acreage in the Paradox Basin in Utah. The AIM-listed oil and gas firm said the placing of around 409mln new shares at a price of 0.55p each, a 24% discount to its Thursday closing price, has raised £2.25mln and has been conducted with a range o...

OPEC+ meeting initial comment -Rystad Energy

OPEC+ meeting initial comment - Rystad Energy   It’s that time of the month again and all eyes are on the OPEC+ meetings. Here is an initial comment on today’s OPEC+ technical committee meeting by our Head of Oil Markets Bjornar Tonhaugen: Today’s OPEC+ meeting is the starter, with the main dish served on Monday when the ministerial meeting takes place. The meeting is nevertheless important as it assesses market conditions and prepares the ground with recomm...

Stork awarded maintenance contract by Shell & Esso JV

Stork awarded maintenance contract by Shell & Esso JV   Fluor Corp. has announced that Stork, part of Fluor’s Diversified Services segment, was awarded a three-year maintenance contract by NAM (Nederlandse Aardolie Maatschappij), a joint venture (JV) between Shell and Esso, in the Netherlands. Fluor booked the undisclosed value in 3Q20. Stork will provide all daily maintenance and rapid response services as well as deliver engineering, project and turnaround-related servi...

Norway clears OKEA’s buy of Equinor’s Aurora discovery

Norway clears OKEA’s buy of Equinor’s Aurora discovery   Norway’s Ministry of Petroleum and Energy has approved OKEA’s acquisition of Equinor’s operated 40 per cent working interest in PL195 and PL195 B, which include the Aurora discovery. Norwegian oil and gas company OKEA said on Thursday that the acquisition of Equinor licenses would have an effective date on 1 January 2020. Erik Haugane, CEO of OKEA, said: “As the operator of PL195 and PL1...

Norway’s Serious Oil, Gas Incidents Surge During Pandemic

Norway’s Serious Oil, Gas Incidents Surge During Pandemic   Company responses to the coronavirus pandemic may have contributed to deteriorating safety at Norway’s oil and gas infrastructure, which has seen 50 serious incidents so far this year—double that from the same time last year and four times higher than in 2018, the Petroleum Safety Authority Norway (PSA) said on Wednesday. The regulator is concerned about the alarmingly high number of incidents and has ask...

Petrobras Awards Oceaneering BOP Tethering Services Contract Offshore Brazil

Petrobras Awards Oceaneering BOP Tethering Services Contract Offshore Brazil   Oceaneering International Inc. has been awarded a BOP tethering services contract offshore Brazil from Petrobras, the company said on Oct. 13. The contract duration is one-year with the option to extend for an additional year. The scope of work includes data acquisition and real-time riser analysis for dynamic positioning rig operations for up to seven wells in water depths between 150 m and 700 m. Oc...

Iraq forecasts 2021 crude oil price at $50/b; proposes oil, gas reforms

Iraq forecasts 2021 crude oil price at $50/b; proposes oil, gas reforms   Iraq has forecast the average price of its crude oil at $50/b in 2021, 23.4% higher than that which was proposed in the 2020 budget, as OPEC's second largest producer plans for energy reforms over the next few years, according to a government white paper seen by S&P Global Platts. Iraq's oil revenues are also forecast to rise 23.4% to Dinars 71.86 trillion ($60 billion) in 2021 from an estimated D...

Petrofac Becomes First Global Training Provider To Be Approved By Opito For Renewables Standard

Petrofac Becomes First Global Training Provider To Be Approved By Opito For Renewables Standard   Leading energy industry training provider, Petrofac, has become the first company globally to be approved by OPITO to deliver its ‘Emergency Coordinator for Renewable Energy (Wind Sector)’ course. The move comes after energy industry skills body OPITO announced the launch of a new suite of safety and technical training standards, and qualifications, aimed specifically at th...

Europa Oil & Gas is looking ahead with confidence

Europa Oil & Gas is looking ahead with confidence   Europa Oil & Gas Holdings PLC chief executive Simon Oddie has said he is confident that positive momentum can be carried behind its various projects. In its final results statement, for the year ended July 31, 2020, Europa noted that UK onshore production is due to double and it has refocused its Irish offshore exploration portfolio on lower risk gas targets. Meanwhile, the company also entered Morocco during the year w...
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