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Latest Headlines

Anadarko strikes light oil in Cote d'Ivoire deepwater block
(5/3/2016) Anadarko has struck light oil with its exploration/appraisal well Paon-5A offshore Cote d'Ivoire in the deepwater CI-103 Block in the Gulf of Guinea...

Finder selling stakes in 4 Western Australia offshore permits to Quadrant
(5/3/2016) Finder Exploration has agreed to sell its entire acreage holding in the Bedout Sub-basin offshore Western Australia to the operator Quadrant Oil Australia...

CGG launches new version of well log petrophysical analysis software
(5/3/2016) CGG GeoSoftware has launched PowerLog 9.5, the new version of its flagship well log petrophysical analysis software designed for multi-user...

Statoil swaps stake in Grieg Field for added Lundin ownership
(5/3/2016) Statoil has entered into an agreement with Lundin Petroleum to exchange its entire interest in the Edvard Grieg Field for increased shareholding in Lundin...

WesternZagros resumes production at Kurd Iraq Garmian Block
(5/3/2016) WesternZagros Resources has resumed crude oil production and sales from the Sarqala-1 well on the Garmian Block in the Kurdistan Region of Iraq...

Proserv contracted for Apache's Callaster North Sea development
(5/3/2016) Proserv has been awarded a contract by Apache North Sea for the provision of a subsea control system and associated topside and subsea interface...

Hess farms into offshore Suriname Block 42 with Kosmos & Chevron
(5/3/2016) Kosmos Energy, operator of the Block 42 contract area offshore Suriname, has reported concluding a farmout agreement with Hess Corporation...

Bill Barrett sells non-core Uinta Basin assets for $30 million
(5/2/2016) Bill Barrett Corporation has entered into an agreement to sell certain non-core assets in northeastern Utah's Uinta Basin for cash proceeds...

Court strikes down local Colorado fracking bans
(5/2/2016) The Colorado Supreme Court has ruled that only the state government has the legal authority to regulate oil and gas industry operations within the state...
Statoil divests US Marcellus assets in West Virginia
(5/2/2016) Statoil has agreed to divest its operated properties in the United States' Marcellus play located in the state of West Virginia to EQT Corporation...

Ghana's $7 billion Sankofa & Gye Nyame development underway
(5/2/2016) Development of the Ente Nazionale Idrocarburi-operated Offshore Cape Three Points Project in the Tano Basin offshore Ghana has commenced...

Highest pull wireline conveyance system
(5/2/2016) Schlumberger has launched its MaxPull high-pull wireline conveyance system capable of pulling 18,000 to 30,000 lbf in wells 40,000 ft deep...

Byron reaches deepened TD in US Gulf South Marsh Island discovery
(5/2/2016) Byron Energy has deepened its South Marsh Island Block 71 discovery well SM71-1 in the US Gulf of Mexico to the predrill planned total measured depth...

SeaBird's Osprey Explorer bound for North Sea survey
(5/2/2016) Geophysical acquisition specialist SeaBird Exploration has concluded an agreement to provide a source vessel for a new North Sea seismic survey...

Pipeline laid in Mexican Gulf of Mexico at record 3,000-ft depth
(5/2/2016) More than 140 km of pipeline manufactured at Tata Steel's Hartlepool, UK double submerged arc welded mill has achieved an industry first...

Halliburton & Baker Hughes terminate merger
(5/2/2016) Yesterday, Halliburton and Baker Hughes advised that they have terminated their agreement to merge companies that was entered into in November 2014...
Aberdeen University receives OGA grant to assess Rockall potential
(5/2/2016) Scotland's University of Aberdeen has been awarded a grant from the UK Oil & Gas Authority to investigate the potential for hydrocarbon exploration...

TGS & PGS launching new 2D MC survey off Eastern Canada
(5/2/2016) TGS Nopec Geophysical is expanding its multi-client library offshore Eastern Canada by acquiring more than 36,000 km of 2D seismic data in partnership...

Socar completes West Absheron well in Azerbaijani Caspian Sea
(5/1/2016) The State Oil Company of Azerbaijan Republic and Absheron Drilling Company joint venture Socar-AQS, has completed the #20 production well...

88 Energy prepping for 2nd Icewine well in Alaska North Slope
(5/1/2016) 88 Energy has advised that its design for the second well at its Project Icewine onshore Alaska's North Slope is near completion in preparation...

Seadrill selling ownership interest in SapuraKencana
(5/1/2016) Seadrill has put its entire interest in Malaysian oil and gas company SapuraKencana Petroleum up for sale to end its shareholding...

Saudi Arabia, Kuwait & Iraq revving up oil production
(5/1/2016) Three of the largest producers in the Organization of Petroleum Exporting Countries, Saudi Arabia, Kuwait, and Iraq, are in full-out campaigns...
Ecopetrol shuts in sabotaged Cano-Limon Covenas Pipeline
(5/1/2016) Colombia's national oil company Empresa Colombiana de Petroleos has halted the flow of oil through the 780-km Cano-Limon Covenas Pipeline...

Tullow set to resume Turkana Rift Basin exploration
(5/1/2016) Tullow Oil has advised ongoing assessment of its recently completed appraisal program in Kenya has indicated increased recoverable resources...

Researchers say US East Coast seismic to jeopardize right whale survival
(5/1/2016) An international group of 28 right whale researcher has called upon US President Barack Obama not to permit seismic surveys in American waters...

Cambodia cancels Mirach & CPHL license for Block D
(5/1/2016) Mirach Energy and China Petrotech Holdings Limited have received a letter from Cambodia's Ministry of Mines and Energy terminating their concession...

All EC255 helicopters in Norway grounded following Friday crash
(5/1/2016) The Norwegian Civil Aviation Authority has grounded all Eurocopter EC255 helicopters operating in Norway in the wake of the fatal crash on Friday...
All 13 aboard CHC copter feared dead in Norway crash
(4/29/2016) Statoil has advised that police have confirmed that the 13 people on board the CHC helicopter on assignment for Statoil are now feared dead...
Petro Matad's partner Shell exits Mongolia's Blocks IV and V
(4/29/2016) Petro Matad has received notification from Shell's affiliate company that it is withdrawing from its Blocks IV and V partnership in west and central Mongolia...

Ukrgazvydobuvannia makes discovery in Ukraine's Kharkiv region
(4/29/2016) Ukrgazvydobuvannia has achieved a gasfield discovery in the Shevchenkivsky Dstrict of Kharkiv, Ukraine with significant reserves...

Shell wins approval to use 2 subsea wells on Draugen Field
(4/29/2016) The Norwegian Petroleum Safety Authority has given permission to Norske Shell to use two subsea wells on the Norwegian Sea Draughen Field...

US working rotary rig count down 11 rigs this week
(4/29/2016) Baker Hughes has reported the working rig count for the United States was lower by 11 rigs this week at total of 420, while this time last year it was 905...

ConocoPhillips cuts US Gulf drilling after Melmar duster
(4/29/2016) ConocoPhillips has decided it will not proceed with its planned deepwater drilling program in the US Gulf of Mexico after failing to find hydrocarbons...

Skyland takes stake in Rep of Georgia's Block XIG
(4/29/2016) Skyland Petroleum has acquired interest in the Republic of Georgia's Block XIG production sharing contract from operator Georgia Oil & Gas...

Neos acquires CGG's Multi-Physics business segment
(4/29/2016) Neos has concluded an agreement with CGG to acquire its Multi-Physics business group, its General Geophysics Italy group, and its data libraries...

Eleven dead, 2 missing in Statoil copter crash off Norway
(4/29/2016) Statoil has reported that a helicopter transporting 13 of its employees from the Gullfaks Field in the Norwegian sector of the North Sea has crashed...

BP considering sale of offshore assets in divestment strategy
(4/29/2016) BP has revealed that some of its offshore assets are being considered for sale as part of its plans to divest £2 billion to £3.5 billion in assets this year...
3D Oil farming out offshore Tasmania Otway Basin block
(4/28/2016) 3D Oil has commenced a farmout process for its Otway Basin permit T/49P offshore Tasmania, Australia with its estimated 6.82 Tcf in resources...

Essar ramping up West Bengal CBM production
(4/28/2016) Essar Oil & Gas is to ramp up its coalbed methane production from the Raniganj East Block in India's West Bengal state to 63.57 million cf/d...

Eco gets okay for next phase in licenses offshore Namibia
(4/28/2016) Eco (Atlantic) Oil & Gas has received various approvals from the Namibia Ministry of Mines and Energy to proceed to the next phase of exploration...
Miller platform late life & decommissioning duty holder goes to Petrofac
(4/28/2016) BP has selected Petrofac as the duty holder to support late life management of the Miller platform in the UK sector of the North Sea...

Wood Group wins 5-year BP contract for Caspian Sea projects
(4/28/2016) Wood Group has won a new five-year contract from BP to provide services to its operated projects in the Azerbaijan sector of the Caspian Sea...

Parex farming into Colombia's De Mares & Playon Blocks
(4/28/2016) Parex Resources has executed two agreements with Colombia's national oil company Empresa Colombiana de Petroleos to farm into and operate...

Hutton formally granted Poland's Kolo Block
(4/28/2016) Prospex Oil & Gas has reported that Hutton Energy's Polish subsidiary has been formally awarded the license for the central Poland Kolo Block...

Suncor adds to Syncrude ownership with interest from Murphy Oil
(4/28/2016) Suncor has agreed to acquire a further position in Syncrude, purchasing interest from Murphy Oil's Canadian subsidiary for some US$746.8 million...

Taqa lines up Peterson for UK North Sea supply base & logistics
(4/28/2016) Peterson has secured a long term logistics contract with the UK subsidiary of Abu Dhabi National Energy Company, Taqa Bratani, for operations support...

Northcote exercises option for stake in South Sumatra contract
(4/28/2016) Northcote Energy has exercised its right to acquire working interest in the Tuba Obi East technical assistance contract in the South Sumatran Basin...

Simmons Edeco awarded North Sea wellhead & valve services contract
(4/28/2016) Simmons Edeco has been awarded a multi-million pound contract to provide wellhead and valve maintenance services in the UK North Sea...
Origin set to start Australia Beetaloo Basin drilling program
(4/28/2016) Falcon Oil & Gas has advised that operator Origin Energy Resources is now moving to Middle Velkerri and Kyalla shale gas drilling and testing...

McDermott completes US Gulf's LLOG Otis subsea tieback
(4/28/2016) McDermott International has successfully completed tieback installation of the Otis development in the US Gulf of Mexico for LLOG Exploration Offshore...

Sterling exiting Madagascar's offshore Ambilobe Block
(4/28/2016) Sterling Resources has issued a notice of withdrawal from the Ambilobe Block offshore Madagascar to joint venture partner Pura Vida Mauritius...

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

The Saudi-Iran standoff & the state of oil prices

Dev George
Managing Editor

There seems to be little that Saudi Arabia and Iran can agree on, since both have their own agendas that have virtually nothing in common. Though they are both in the Middle East and share frontage on the Persian Gulf, they don't cooperate, and, in fact, support opposing sides in the region's civil wars in Yemen and Syria...⇒⇒⇒
Latest Editorials
Oil/Gas Prices & Analysis
Prices steady near $50/bbl - best Brent monthly gain in 7 years

(4/29/2016) Trade at the New York Mercantile Exchange (Nymex) and London's Intercontinental Exchange (ICE) closed out April with prices in our monitored benchmarks about 20% higher, but with North Sea Brent chalking up its best monthly gain in seven years with a 21.5% increase.
Traders attributed the significant growth in oil prices to the weaker US dollar and new optimism that we may be seeing an easing of the global oil glut...⇒⇒⇒
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