Tag: oil and gas industry

Black Sea Oil & Gas SRL announced the completion of a two well exploration drilling program in the XV Midia block, offshore Black Sea. As the company said the Iulia-1 well did not encounter any reservoir, while dry gas discovered at Paula-1 did not prove commercially viable for testing.

Serica Energy signed a Sale and Purchase Agreement to acquire further interests in the Bruce and Keith fields and associated infrastructure in the UK North Sea from Total. Completion of the transaction with is anticipated to take place after completion of the acquisition of interests in the Bruce, Keith and Rhum fields.

Norway's PSA has given the Norwegian oil firm DEA Norge consent for exploration drilling in block 7321/4 in the Barents Sea. Earlier in July, PSA granted oil major Equinor consent for exploration drilling in block 7132/2, as well as 7220/5-3 in production licence 532 in the Barents Sea.

Mexico’s National Hydrocarbon Commission approved the Development Plan for Eni's discoveries of Amoca, Miztón and Tecoalli, located in Area 1, in the shallow waters of the Campeche Bay. Area 1 holds about 2.1 billion of oil equivalent in place. Eni plans to drill two exploration wells in 2019 in the new blocks recently awarded.

Norwegian oil major Equinor issued a video depicting the installation of four huge modules at the Martin Linge field, in the North Sea, last week. The largest module lifted into place by Thialf was a whopping 10,500 tonnes. The hook up now begins, connecting steel, pipes and cables.

Australia-based Triangle confirmed an oil spill on 24 July at its Cliff Head Alpha Offshore Platform, 14 km offshore in the Perth Basin, around 300 km north of Perth. An aerial and shoreline surveillance on Thursday however showed no hydrocarbons in the marine environment.

BP agreed to buy US shale oil and gas assets from BHP Billiton for $10.5 billion, improving the British oil major’s impact in oil-rich onshore basins in its biggest deal in almost two decades. This sale will increase BP's quarterly dividend for the first time in four years and puts an end to disastrous seven years by BHP.

Jan-Hugo Marthinsen, Vice President, Head of Offshore Energy Claims at Gard P&I Club looks back at the world's deadliest offshore disaster: Piper Alpha. On 6 July 1988 an explosion and fire ripped through the Piper Alpha oil platform located in the North Sea, killing 167, while only 61 managed to escape and survive.

Three European oil and gas majors, UK's Shell, BP, and Italian Eni, have outperformed their peers in new project approvals and lifting costs, according to latest research by Rystad Energy. For projects that have started up since 2014, majors have collectively achieved greenfield costs of $13.50 per barrel of oil equivalent.

From 16 to 31 May 2018, PSA Norway conducted an audit of Seadrill’s management of emergency preparedness and the working environment, including arrangements for employee participation, on the West Elara mobile drilling facility. A non-conformity concerning the maintenance of emergency preparedness equipment was found.