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Latest Headlines

OPEC & non-OPEC producers extend output cut 9 months
Today's Conference of the Organization of the Petroleum Exporting Countries has extended by an additional nine months the 1.8 million b/d cut...

GE Oil & Gas selected as EPC provider for Alpha’s Cheviot Field
(5/26/2017) Alpha Petroleum is partnering with GE Oil & Gas on advancement of the subsea infrastructure for the Cheviot Field in the UK sector of the North Sea...

Equatorial Guinea becomes OPEC's 14th member
(5/26/2017) During its meeting yesterday in Vienna, the Organization of Petroleum Exporting Countries approved Equatorial Guinea's January application...

BP gets extension to farm-in option for Western Australia's Ironbark
(5/26/2017) Cue Energy Resources has agreed to extend the 42.5% equity option over exploration permit WA-359-P granted to BP Developments Australia...

North American rig count rises above 1,000 rigs this week
(5/26/2017) Baker Hughes has reported the North American rig count rose above 1,000 rigs this week for the first time in more than two years with the addition...

New gasfield discovered near South Pars Field in Persian Gulf
(5/26/2017) National Iranian Oil Company has reported discovery of a new gasfield not far from the giant South Pars Field in the Iranian sector of the Persian Gulf...

TGS & PGS to acquire Long Range 3D Survey off Newfoundland
(5/26/2017) TGS and Petroleum Geo-Services will be undertaking their fourth 3D seismic project this year offshore Eastern Canada off Newfoundland...

Frogtech releases basement topography study and GIS
(5/26/2017) Frogtech Geoscience has released its North Atlantic Regional SEEBASE Study and GIS, a new comprehensive regional study of basement architecture...

Interoil set to production test Vikingo-1 onshore Colombia
(5/26/2017) Interoil Exploration & Production has concluded drilling its exploration well Vikingo-1 in Colombia's Llanos Basin and is preparing to test its productivity...

Cairn drilling FAN South-1 exploration well offshore Senegal
(5/26/2017) FAR Limited has reported that Cairn Energy has commenced drilling the FAN South-1 exploration well on the South Fan Prospect offshore Senegal...

TAG adds another successful Cheal exploration well in New Zealand
(5/25/2017) TAG Oil has successful drilled and flowtested the Cheal-E8 exploration well, which will now be tied-in to the company's existing infrastructure...

Galp & Namcor granted Kudu Basin blocks offshore Namibia
(5/25/2017) Namibia's Ministry of Mines and Energy has issued two new Kudu Gas Basin exploration licenses to Namcor in joint venture with Galp Energia...

Statoil sells stake in Lundin spin-off IPC for $80.8 million
(5/25/2017) Statoil has sold its interest in Netherlands-based International Petroleum Corporation, a recently formed spin-off of Lundin Petroleum...
Eni & Oman Oil granted Oman's Block 52 in Arabian Sea
(5/25/2017) Oman's Ministry of Oil & Gas has granted Ente Nazionale Idrocarburi and local government-owned company Oman Oil exploration rights to Block 52...

Octanex contracts Naga 2 jackup to drill Malaysia's Ophir Field
(5/25/2017) Octanex has advised that the Naga 2 jackup drilling rig will shortly commence mobilization to the Ophir oilfield in the South China Sea...

Energean signs for onshore Greece's Aitolokarnania Block
(5/25/2017) Energean Oil & Gas has signed a lease agreement with the Greek government for the exploration and exploitation of Aitolokarnania Block...

UKOG ready to spud Broadford Bridge-1 in southern England
(5/25/2017) UK Oil & Gas Investments has advised the drilling rig and equipment to drill the Broadford Bridge-1 Kimmeridge Limestone well are now on site...

Amerisur brings on another successful Platanillo well in Colombia
(5/25/2017) Amerisur Resources has advised that its Platanillo-21 well on Pad 2N in the northern extension of Colombia's Platanillo Field has been successful...

UK North Sea Kraken Field set for startup in June
(5/25/2017) EnQuest has reported that its Kraken Field development in the UK sector of the North Sea is on track to deliver first oil before the end of June...

Petrobras to exercise preferential rights in upcoming license rounds
(5/25/2017) Petroleo Brasileiro has advised it intends to exercise its preferential rights in two upcoming offshore licensing rounds focused on the pre-salt region...

Faroe drilling Brasse appraisal in Norwegian North Sea
(5/25/2017) Faroe Petroleum has begun drilling an appraisal well on its Brasse oil and gas discovery of last year in the Norwegian sector of the North Sea...

Buru & Mitsubishi swap Western Australia Canning Basin assets
(5/25/2017) Buru Energy has entered into a transformational transaction with its joint venture partners, the Diamond Resources units of Mitsubishi Corporation...

Sirius lines up COSL Power for Ororo drilling offshore Nigeria
(5/24/2017) Sirius Petroleum has executed a contract with China Oilfield Services Limited for its jackup drilling rig COSL Power for drilling on the Ororo Field...

Gulfsands cancels farmout of 2 Colombia concessions to Samarium
(5/24/2017) Gulfsands Petroleum has cancelled its farmout of interest in the Putumayo-14 and the Llanos-50 Blocks onshore Colombia to Samarium Energy...

ExxonMobil extends contract for Maersk Viking ultra-deep drillship
(5/24/2017) Maersk Drilling has been awarded a US$22.5 million contract extension for the ultra-deepwater drillship Maersk Viking working in the Gulf of Mexico...

Nigeria's offshore Aje Field shifts from oil to gas production
(5/24/2017) Partners in the Aje field offshore Nigeria in Block OML113, have agreed to pause oil production on the field and shift its output to natural gas...

TWMA wins 2 new Central North Sea projects with Maersk Oil UK
(5/24/2017) TWMA has been awarded two new projects with Maersk Oil UK in the North Sea underway aboard the Ocean Valiant and the Maersk Gallant...

CGG launches Multi-Physics Imaging group
(5/24/2017) CGG has launched its Multi-Physics Imaging group, consolidating its multi-physics data processing and interpretation, technical consulting services...

Magseis in ocean bottom seismic tech agreement with Seismic Apparition
(5/24/2017) Magseis and Seismic Apparition have signed an exclusive technology agreement for a new technology that reduces the OBS operational time...

CNPC pegs $2 billion for development of Peru's Block 58
(5/24/2017) Perupetro, the Peruvian government's petroleum agency, has revealed that China National Petroleum Corporation intends to invest US$2 billion...

Statoil gets go-ahead to start production at Gina Krog Field
(5/24/2017) The Norwegian Petroleum Directorate has granted operator Statoil its consent for start-up of production from the North Sea Gina Krog Field...

Abraxas acquiring Texas Wolfcamp/Bone Spring acreage
(5/24/2017) Abraxas Petroleum has signed a definitive agreement to acquire acreage in Ward County, Texas that is prospective for the Wolfcamp/Bone Spring...

Hyperdynamics drilling Fatala-1 exploration well off Guinea
(5/24/2017) Hyperdynamics subsidiary SCS Corporation has begun drilling operations on its Fatala-1 exploration well offshore the Republic of Guinea...

SeaBird scores follow-up seismic project off West Africa
(5/24/2017) SeaBird Exploration has reported that it has signed a letter of award for additional seismic acquisition offshore West Africa...

ExxonMobil & Rosneft JV set to start offshore Mozambique exploration
(5/23/2017) Rosneft has reported its subsidiary RN-Exploration and ExxonMobil E&P Mozambique will commence exploration work offshore Mozambique...

Mexico awards deepwater Mexican Gulf Chachiquin Block to Pemex
(5/23/2017) Mexico's Comision Nacional de Hidrocarburos, has given its approval to the award of newly established Chachiquin Block in deepwater Gulf of Mexico...

AziPac sub takes over Mitra's Bone PSC in Indonesia
(5/23/2017) The Azimuth Indonesia subsidiary of AziPac has agreed with Mitra Energy to acquire its remaining interest in the Bone Block off South Sulawesi...

Carlyle Group & EOG link to develop Oklahoma oil & gas
(5/23/2017) EOG Resources has formed a joint venture with the Carlyle Group, which is to invest up to US$400 million in development of EOG's Ellis County assets...

Sound's TE-8 in Eastern Morocco a definitive Paleozoic play opener
(5/23/2017) Sound Energy has completed drilling its third well at Tendrara in Eastern Morocco, the TE-8, achieving a target depth of 3,120 meters...

Petrobras selling Brazil Amazon Solimoes Basin gasfield
(5/23/2017) Petroleo Brasileiro has revealed that it intends to sell its Jurua natural gas field in the Brazilian Amazon's Solimoes Basin in Block SOL-T-169...

Sakunda granted Lupane, Zimbabwe exploration permit
(5/23/2017) Zimbabwe's Ministry of Mines has reported an exploration license has been granted to Sakunda Energy for the Lupane area in western Zimbabwe...

Mosman acquires stake in Oklahoma's Arkoma Stacked Pay Project
(5/23/2017) Mosman Oil & Gas has contracted to acquire interest in the Arkoma Stacked Pay Project in Okfuskee County, Oklahoma, from Inland Oil & Gas...
Regal reaches primary reservoir in Ukraine MEX-109 well
(5/23/2017) Regal Petroleum has obtained the initial testing results from its MEX-109 production well on its Mekhediviska-Golotvshinska gas and condensate field...

TGS & PGS launching 2 new 3D MC surveys offshore Eastern Canada
(5/23/2017) TGS Nopec Geophysical and Petroleum Geo-Services have two new multi-client 3D seismic projects set to get underway offshore Eastern Canada...

PDO extends CGG contract for subsurface imaging to 2021
(5/23/2017) CGG has received an extension, until the end of 2021, of its contract with Petroleum Development Oman for subsurface imaging technology...

Proserv wins $11 million in UAE & Saudi contracts
(5/23/2017) Proserv has been awarded a series of contracts worth a combined value of more than US$11 million for production control and after-market services...
 For more headlines, select from OGI Departments at top left
From the Editor

Guest Editorial: Brexit & the oil industry

by Prof Paul de Leeuw, Director, Oil and Gas Institute, Robert Gordon University, Aberdeen, Scotland

Few could have predicted the sequence of events triggered by former Prime Minister David Cameron, when in February 2016 he made his announcement on the steps of Downing Street that the Brexit referendum would indeed take place. Irrespective of the way people then voted on 23 June 2016, very few would have wagered that the FTSE 100 index of leading shares would now be at a record high and that the UK would be one of the fastest growing economies in the developed world...⇒⇒⇒
Latest Editorials
Oil/Gas Prices & Analysis
Prices tumble about $2.50/bbl on same 1.8 OPEC-led cut

(5/25/2017) There was considerable disappointment by speculators and traders at the New York Mercantile Exchange (Nymex) and the London Intercontinental Exchange (ICE) that the Organization of Petroleum Exporting Countries (OPEC) and its fellow participants in the 1.8 million b/d output cut of the first half of this year did not increase their production cut by a larger percentage when they voted to extend the reduction to March 2018...⇒⇒⇒
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