President Energy (AIM: PPC), the oil and gas exploration and production company provides the following update on Argentina operations and revised loan agreements (the “Loan Restructuring”). Highlights President has now engaged drilling contractors for a 2016 three horizontal well programme due to commence by end July. Objective of the drilling campaign is to increase sustainable… Continue Reading »
Workers on Norwegian offshore oil drilling rigs signed a new wage deal on Wednesday, avoiding a strike, labour unions and employers said in separate statements. Some 280 rig workers had threatened to strike if the talks failed, including staff on Rowan Companies’ Viking and Gorilla rigs, and on the Statoil-operated Heidrun, Statfjord, Aasgard, Volve and… Continue Reading »
Leading global drilling and engineering contractor, KCA Deutag, today announces that it has sold its jack-up drilling unit, the Ben Rinnes, to an integrated energy and services company for an undisclosed sum. Built in Clydebank, Scotland in 1973 and acquired by KCA Deutag in 2005, the Ben Rinnes was under contract offshore Angola until February… Continue Reading »
JV of Rosneft and Statoil ASA started drilling the exploration well in the Sea of Okhotsk. The signal to begin drilling was given by the Rosneft Chairman of the Management Board Igor Sechin during the work at the rig Nanhai-9. “Implementation of the offshore projects in upstream is one of the Company’s most important strategic… Continue Reading »
Statoil Petroleum AS, operator of production licence 035, is in the process of concluding the drilling of wildcat well 30/11-12 S and appraisal well 30/11-12 A. The wells were drilled two kilometres south of the 30/11-9 A (Askja Øst) discovery, and about 35 km southwest of the Oseberg Sør facility in the North Sea. The… Continue Reading »
China National Offshore Oil Corp. Ltd. (CNOOC) hoped to increase the firm’s net production to 475 to 495 million barrels of oil equivalent (MMboe) this year, up 10 to 15 percent from approximately 432 MMboe last year, according to its 2015 business strategy and development plan released Tuesday. CNOOC said the 2015 net production target will… Continue Reading »
Cyprus’ president says reunification talks can restart, if Turkey respects the ethnically divided island’s sovereign right to exploit its offshore gas reserves. Nicos Anastasiades said Wednesday that Turkey must stop trying to impose its will on its tiny neighbor. Cyprus was split along ethnic lines in 1974 when Turkey invaded after a coup by supporters… Continue Reading »
Proven crude oil and lease-condensate reserves in the United States increased 9.3 percent to 36.5 billion barrels in 2013, up from 33.4 billion barrels in 2012, the U.S. Energy Information Administration said in a report Thursday. That was the fifth year in a row of increases, with reserves exceeding 36 billion barrels for the first… Continue Reading »
Petrobras has made a discovery of hydrocarbons in the exploratory Orca-1 well, located 40 kilometers north of the coast of Guajira province. Ecopetrol, a partner with 30% stake in the project, announced this first discovery in deep waters of the Colombian Caribbean. The Orca-1 well was drilled within the Tayrona block. The Tayrona block was… Continue Reading »
Briggs Environmental Services has completed the annual Clearwater Forth Oil Spill Emergency Response simulation, which took place earlier this month at Cramond. The ongoing success of these oil spill response simulations is a testament to the environmental plan managed by Forth Ports to protect the estuary in the event of an incident. Upon completion of… Continue Reading »
