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Latest Headlines

Total starts production at West of Shetland Laggan & Tormore
Total has commenced production at its Laggan and Tormore gas and condensate fields in the UK sector of the North Sea West of Shetland area...

Saturn scores oil discovery with Saskatchewan Bannock Creek well
(2/10/2015) Saturn Minerals has achieved a new oil discovery on its Saskatchewan Block EP71 with its exploration well 9A-5 in its Bannock Creek Project...

Diving services hired for FSO hookup & installation off Libya
(2/10/2016) Emas AMC has retained Rana for provision of diving services for installation and hookup of the floating storage and offloading vessel Gaza...

Petrofac providing well services for North Sea Finlaggan appraisal
(2/10/2016) The SPD unit of Petrofac has secured a contract from Zennor Petroleum to provide well design and well construction management services...
Harkand completes Trinidad IRM campaign for BPTT
(2/10/2016) Harkand has completed an inspection, repair, and maintenance campaign for BP Trinidad and Tobago utilizing the Harkand Da Vinci DSV...

Petronas & Sabah Energy cancel Sulu Sea regasification terminal
(2/10/2016)The Petronas Gas subsidiary of Malaysia's national oil company Petroliam Nasional and Sabah Energy have cancelled the proposed construction...

Noble Upstream acquiring stake in UK North Sea Maclure Field
(2/10/2016) Noble Upstream, an independent UK-based exploration and production company, has signed an agreement with Royal Dutch Shell to acquire...

Tie-in of new processing platform & future Johan Sverdrup satellites
(2/10/2016) Aker Solutions will deliver a concept study for a new processing platform for future phases of the Johan Sverdrup Field in the Norwegian North Sea...

Cooper sells Indonesian exploration assets to Mandala Energy
(2/10/2016) Cooper Energy has agreed to the sale of its Indonesian exploration assets Sumbagsel and Merangin III to Mandala Energy for US$8.25 million...

Magseis to shoot Red Sea ocean bottom seismic survey
(2/10/2016) Magseis has reported the award of a large-scale ocean bottom seismic acquisition in the Red Sea by Saudi Aramco to it and its partner BGP...

MEO confirms Cuba's onshore Block 9 prospectivity
(2/9/2016) MEO Australia has confirmed the prospectivity of northern Cuba's onshore Block 9 and is reprocessing existing 2D seismic data to determine the extent...

Genel set to restart production drilling on Kurd Iraq Taq Taq Field
(2/9/2016) Genel Energy gas revealed it is gearing up to resume drilling operations on its Taq Taq Field in Kurdistan Iraq for the first time in more than a year...

Aibel doing concept study for Johan Sverdrup Field Phase 2
(2/9/2016) Aibel has been awarded part of the concept study for the second phase of the Johan Sverdrup development in the Norwegian sector of the North Sea...

Engie sells part of stake in Norway's Cara block to Wellesley
(2/9/2016) The GdF Suez E&P Norge unit of Engie has sold part of its operating interest in the Norwegian North Sea license and block containing the Cara Prospect...

Frontera & Naftogaz sub sign Ukraine E&P agreement
(2/9/2016) Frontera Resources has signed a memorandum of understanding with UkrGasVydobuvannya, a subsidiary of Ukraine's Naftogaz...
ExxonMobil set to plug & shutdown Norway's Jotun Field
(2/9/2016) ExxonMobil is reported to be preparing to shutdown and decommission the Jotun Field in the Norwegian sector of the North Sea with plugging of wells...

Technip contracted for ultra-deepwater US Gulf field developments
(2/9/2016) Technip has been awarded a lump sum contract by Deep Gulf Energy III for the development of ultra-deepwater South Santa Cruz and Barataria Fields...

Ghana's Tema LNG Project construction & operation agreed
(2/9/2016) Ghana National Petroleum Corporation and Quantum Power have signed heads of terms for the construction and operation of the LNG facilities...

Wood Group wins extension to Chevron North Sea contract
(2/9/2016) Wood Group PSN has secured an extension to continue to support Chevron Upstream Europe across four offshore assets in the UK North Sea...

WPX sells US Rocky Mountain subsidiary for $910 million
(2/9/2016) WPX Energy has signed an agreement to sell its wholly owned subsidiary WPX Energy Rocky Mountain to Terra Energy Partners for US$910 million...

PA Resources divests North Sea assets to Petrogas E&P
(2/9/2016) PA Resources has agreed to divest its portfolio of North Sea assets offshore Denmark, Netherlands, Germany, and the UK to Petrogas E&P...

Senegal's Sangomar Deep estimated resources increase 42%
(2/8/2016) First Australian Resources has reported Cairn Energy, operator of the Sangomar Deep Offshore Block off Senegal has obtained an estimate...

UK onshore Horse Hill discovery well extended flowtest underway
(2/8/2016) Horse Hill Developments Limited has reported operations have commenced at the Horse Hill site in the UK's Weald Basin near the Gatwick Airport...

MicroSeismic launches completion evaluation services
(2/8/2016) MicroSeismic has released three new proprietary completions evaluation services to quantify and predict reservoir drainage and production...

Murphy terminates Transocean drillship contract early
(2/8/2016) The Murphy Exploration & Production USA subsidiary of Murphy Oil has notified Transocean that it is terminating its contract nine months early...

Hercules 205 set to drill Otto's US Gulf farm-in well with Byron
(2/8/2016) The Hercules 205 jackup drilling rig has been contracted by Byron Energy to carry out the drilling of the first of three wells in a farmout with Otto Energy...

Sound granted option for Morocco's Merida Permit
(2/8/2016) Sound Energy has signed an agreement with Morocco's Oil & Gas Investment Fund whereby it has granted an option to acquire 55% interest...

Egdon suspends UK Keddington-5 for flowtesting
(2/8/2016) Egdon Resources has concluded drilling the Keddington-5 conventional sidetrack development well in the Keddington Field onshore the UK...

Fire on Pemex's Abkatun A platform kills 3, injures 9 workers
(2/8/2016) A fire still burning after erupting yesterday on the Abkatun A platform in Mexico's Campeche Bay has taken the lives of three offshore workers...

Soco drilling exploration well in Congo's Mer Profonde Sud Block
(2/8/2016) Soco International has commenced drilling operations in its Baobab Marine-1 commitment well offshore the Republic of Congo in the Lower Congo Basin...

Qatar Petroleum farming into Chevron's Moroccan deepwater blocks
(2/8/2016) Qatar Petroleum has reached an agreement with the Moroccan subsidiary of Chevron to farm into its three deepwater leases in the Moroccan Atlantic...

Rosneft & Statoil testing 2 Severo-Komsomolskoye producers
(2/8/2016) Rosneft and partner Statoil have begun testing operations in two wells that produce highly viscous oil from Russia's Severo-Komsomolskoye Field...

North Sea Imogen storm triggers evacuation of Brent Bravo platform
(2/8/2016) Royal Dutch Shell has evacuated approximately 80 workers from its Brent Bravo platform in the UK sector of the North Sea as a precaution...

Diamond Offshore does BOP performance pact with GE Oil & Gas
(2/8/2016) Diamond Offshore Drilling has entered into a contractual service agreement that transfers full accountability for BOP performance to GE Oil & Gas...
Vegas finds significant reserves in Egypt Al Amir development well
(2/8/2016) Vegas Oil & Gas has encountered significant oil-bearing reservoir with its Al Amir SE-23 development well in Egypt's Northwest Gemsa Concession...

Venezuela & Saudi oil ministers meet without supply resolution
(2/7/2016) Venezuela's Minister of Petroleum Eulogio del Pino met with Saudi Arabia's Minister of Petroleum Ali al-Naimi today to try to reach an agreement...

Shell delaying Nigeria deepwater Bonga Southwest FID again
(2/7/2016) Royal Dutch Shell subsidiary Shell Nigeria Exploration & Production has revealed that due to earnings losses it is deferring the final decision...

Russia losses due to oil prices & sanctions at $600 billion
(2/7/2016) An independent consultancy in Moscow has estimated Russian losses as a result of dwindling oil prices and Western sanctions due to its culpability...
Caspian Geophysical 3D shoot over Shah Deniz Field completed
(2/7/2016) The Azerbaijan unit of BP has advised that Caspian Geophysical has concluded its 3D seismic survey over the Shah Deniz Field in Azerbaijan...

Maersk pays Africa Oil $427 million for half its stakes in Kenyan blocks
(2/7/2016) Maersk Oil's farm-in for half of Africa Oil's interests in Kenya's onshore Lokichar Basin Blocks has been approved by the Kenyan government...

H225 Rig'N Fly automatic oil platform approach mode certified
(2/7/2016) Airbus Helicopters has received European Aviation Safety Agency certification for its Rig'N Fly avionics enhancement for automatic rig approaches...

Algeria's In Salah gas developments to resume
(2/7/2016) The Sonatrach-BP-Statoil joint ventures operating Algeria's two major gas projects at In Salah are resuming development operations at both of them...

Sakhalin-2 LNG maintenance shutdown until March
(2/7/2016) Sakhalin Energy, operator of the Sakhalin 2 LNG facility on the Russian Far East's Sakhalin Island has advised that production problems have occurred...

Faroe prepping to drill Brasse Prospect in Norwegian North Sea
(2/7/2016) Faroe Petroleum has confirmed it will be undertaking the drilling of an exploration well on the Brass Prospect in the Norwegian North Sea...

 For more headlines, select from OGI Departments at top left
From the Editor

Producers holding to hope for higher prices

Dev George
Managing Editor

The oil price crash has been disastrous for oil producers large and small around the world but few have shut-in their production because of it, with only 100,000 b/d out of the planet's total output of 96.1 million b/d suspended, or less than 0.1%.
That statistic, which comes from a recent Wood Mackenzie global oil production analysis, should not be taken as positive...⇒⇒⇒
Latest Editorials
Oil/Gas Prices & Analysis
Prices plunge another fourth day on demand & supply predictions

(2/9/2016) Crude futures fell for a fourth consecutive day at London's Intercontinental Exchange (ICE) and the New York Mercantile Exchange (Nymex) to near their 12.5-year lows recorded in January as a result of reports by the US Energy Information Administration (EIA) and the International Energy Agency (IEA) offered that demand growth over the next two years will be lackluster at best and that the globe will continue to be inundated with excess oil supply...⇒⇒⇒
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