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Latest Headlines

Repsol scores deepwater discovery offshore Gabon
Woodside Petroleum has revealed that operator Repsol has achieved an ultra-deepwater presalt discovery offshore Gabon with its Ivela-1 well...

UK North Sea Erskine Field to remain offline until September
(4/24/2018) Serica Energy has advised the production interruption at the Erskine Field in the UK sector of the North Sea continues due to pipeline blockage..

Saipem picks up 3 new drilling & 2 decom contracts
(4/23/2018) Saipem has been awarded five new contracts, three of them for offshore drilling with its semisubmersible drilling rig Scarabeo 8 in the North Sea...

Petrobras puts Brazil's Santos Basin presalt Buzios Field onstream
(4/23/2018) Petroleo Brasileiro has commenced production from its Buzios Field in the presalt region of the Santos Basin offshore Brazil's Rio de Janeiro state..

Savannah makes oil discovery in SE Niger with Bushiya-1
(4/23/2018) Savannah Petroleum has achieved an oil discovery with the first well in its three-well drilling campaign, Bushiya-1, in the R3 PSC in southeast Niger...

Oryx divesting interests in Congo's Haute Mer B to Total
(4/23/2018) Oryx Petroleum has entered into a farmout agreement with Total E&P Congo for the transfer of its 30% participating interest in the Haute Mer B...

Baker Hughes GE contracted for Johan Castberg FPSO turbomachinery
(4/23/2018) Statoil Petroleum and Aker Solutions have awarded Baker Hughes GE a contract to provide turbomachinery equipment for the topside structure...

Australia's Barossa-Caldita partners agree to FEED phase
(4/23/2018) Santos has reported an agreement reached by the ConocoPhillips-led Barossa-Caldita Offshore Project partners to enter front-end engineering...

Admiral adds acreage in Texas' Permian Delaware Basin
(4/23/2018) Admiral Permian Resources has acquired more than 59,000 net acres of leasehold and related assets in Reeves and Culberson Counties, Texas...
Bibby Offshore deploys COBRA diving safety system
(4/23/2018) Bibby Offshore is the first to deploy a pioneering diving safety system in the North Sea with launch of its Compact Bailout Rebreathing Apparatus...

3D shoot over offshore southwestern Jamaica license 45% completed
(4/22/2018) Tullow Oil has reported that the 3D seismic survey being carried out over its operated Walton-Morant license off Jamaica is being acquired by Polarcus...

Curzon revving up CBM gas production at Coos Bay, Oregon
(4/22/2018) Curzon Energy has advised it will begin an additional fieldwork program to accelerate gas production at its Coos Bay coalbed methane project...

Modec contracts ASOM for FPSO Baobab Ivoirien deck reinstatement
(4/22/2018) Modec has contracted ASOM to undertake the reinforcement of the decks on its Baobab Ivoirien floating production, storage, and offloading vessel...

China to near double shale gas production by 2020
(4/22/2018) Consultancy Wood Mckenzie has advised that China is expected to reach some 600 bcf in shale gas production in 2020, roughly double 2017's output...

Participants in 1.8 million b/d supply cut disagree on duration
(4/22/2018) Ministers representing those countries participating in the 1.8 million b/d output cut have let their monitoring committee meeting with mixed views...

US rotary rig count rises by another 5 rigs this week
(4/20/2018) Baker Hughes has reported the US rig count increased by five more rigs this week for a total of 1008 working rigs, which is 161 more than last year...

Ichthys Project saturation diving injuries under investigation
(4/20/2018) Australia's National Offshore Petroleum Safety & Environmental Management Authority is investigating saturation diving operations...

Rowan rigs set for US Gulf, UK & Norway North Sea, & Saudi Arabia
(4/20/2018) Rowan Companies has reported securing work for its drilling rigs in the Gulf of Mexico, the UK and Norwegian North Sea, and offshore Saudi Arabia...

Golar LNG agrees to BP charter of FLNG for Greater Tortue Field
(4/20/2018) Golar LNG has entered into a preliminary agreement and exchanged heads of terms for a charter agreement with BP Mauritania and BP Senegal...

Aker BP given permit for Barents Sea wildcat
(4/20/2018) The Norwegian Petroleum Directorate has granted Aker BP a drilling permit for a wildcat well on the Svanefjell Prospect in the Norwegian Barents Sea...

Newbuild Kreuz Challenger mobilized for long-term Brunei Shell contract
(4/20/2018) Kreuz Subsea has mobilized the recently delivered newbuild dive support vessel, Kreuz Challenger, as part of its contract with Brunei Shell Petroleum...

SDX logs gas discovery in Morocco's Lalla Mimouna Block
(4/20/2018) SDX Energy has reported a conventional natural gas discovery at its LNB-1 exploration well on the Lalla Mimouna Block onshore Morocco...

Sonangol offering 2 offshore blocks for bid
(4/20/2018) Angola's national company Sociedade Nacional de Combustiveis de Angola is inviting international oil companies to bid for two blocks in the Kwanza Basin...

Frontera concludes drilling Dino-2 well in Rep of Georgia
(4/19/2018) Frontera Resources has completed the drilling operations at its Dino-2 well, the second in a three-well drilling campaign at its Taribani Complex...

Stamper's Sudan reserves boosted by Rawat C-10 well
(4/19/2018) Stamper Oil & Gas has advised that its oil and gas reserves and economics evaluation on the Sudan Blocks 25D and 25E have been increased 22%...
Transocean has semisub & drillship drilling options exercised
(4/19/2018) Transocean has advised, in addition to four semisubmersibles being contracted, options have been exercised for a semisubmersible and a drillship...

Ireland's Porcupine Basin LO16/27 partners apply to convert to FEL
(4/19/2018) Providence Resources has revealed that the partners in the License Option 16/27 in Ireland's Porcupine Basin have elected to apply for conversion...

Galilee drilling Glenaras CSG pilot well in Queensland
(4/19/2018) Galilee Energy has reported commenced drilling operations at its Glenaras 10L coal seam gas well in the Glenaras multilateral pilot program...

GeoPark drills & tests Tigana Norte-9 onshore Colombia
(4/19/2018) GeoPark Limited has successfully drilled and tested its Tigana Norte-9 appraisal well in the Tigana Field in Colombia in the Llanos 34 Block...

Interpose acquires 80% interest in Zimbabwe gas condensate project
(4/19/2018) Interpose Holdings has entered an agreement to acquire an 80% interest and operatorship in Zimbabwe's Block SG4571 Cabora Bassa Project...

Otto transfer of Philippines SC55 to partners ratified
(4/19/2018) Red Emperor Resources has received official confirmation from the Philippine Department of Energy ratifying the transfer of interests...

PGS processing 3D seismic over Guyana's Orinduik Block
(4/19/2018) Eco Atlantic Oil & Gas Ltd has advised that the processing and interpretation of recently acquired 3D seismic over the Orinduik Block...

Aibel to upgrade Norwegian Sea Njord Bravo FSO
(4/19/2018) Statoil has awarded a contract to Aibel for the upgrading of the Njord Bravo floating storage and offloading vessel in the Norwegian Sea...

Two dead, two missing in IOOC Persian Gulf helicopter crash
(4/18/2018) Iran's national news agency Irna has reported an Iran Offshore Oil Company helicopter has crashed in the Iranian sector of the Persian Gulf...
Elk & Denbury kick off production at Wyoming Grieve EOR Project
(4/18/2018) Elk Petroleum has reported that the Grieve carbon dioxide enhanced oil recovery project in Wyoming has begun production at 1,000 b/d...

Painted Pony's BC Beg Block Montney discovery flows on tests
(4/18/2018) Painted Pony Energy has reported significant test results for its first discovery Montney horizontal well in northeastern British Columbia...

West Phoenix 700th rig to visit Scotland's Cromarty Firth
(4/18/2018) The semisubmersible drilling rig West Phoenix has become the 700th drilling rig to take temporary residence at the Invergordon Port of Cromarty Firth...

Longitude develops decommissioning barge for PTTEP
(4/18/18) Longitude Engineering has developed a cost effective decommissioning barge concept for the safe removal of small oil and gas platforms...

Eni wins approval of development plan for East Kalimantan field
(4/18/2018) Ente Nazionale Idrocarburi has received approval of its plan of development for the Merakes Field offshore East Kalimantan, Indonesia...

Cue extends BP's Ironbark equity option
(4/18/2018) Cue Energy Resources has extended the 42.5% equity option over an exploration permit granted to BP Developments Australia by six months...

Egypt to offer 10-11 Mediterranean blocks for bid
(4/18/2018) The Egyptian Ministry of Petroleum is planning to launch a new bidding round for some 10 or 11 Mediterranean oil and gas exploration blocks...

NPDC resumes drilling Opuama-9 well onshore Nigeria
(4/18/2018) Eland Oil & Gas has reported that the back-up engines required to recommence drilling the Opuama-9 infill well have arrived at site...

Wheatstone LNG Train 1 achieves stable production
(4/18/2018) Woodside Petroleum's CEO Peter Coleman has advised Train 1 at Chevron Australia-operated Wheatstone LNG Project has achieved steady production...

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

$100/bbl oil in 2019 not likely

Dev George
Managing Editor

So far 2018 has been a rollercoaster ride for oil markets with crude rising and falling to tie record highs and lows of the past few years since the big plunge in prices in 2014. Recently prices have trended higher even as they vacillate, and predictions for the near future from the US Energy Information Administration (EIA) and the International Energy Agency (IEA) anticipate continued growth...⇒⇒⇒
Latest Editorials
Oil/Gas Prices & Analysis
Crude prices rise again as traders ignore Trump rant

(4/20/2018) Traders at the New York Mercantile Exchange (Nymex) and London's Intercontinental Exchange (ICE) basically ignored US President Trump's tweet of the day criticizing the Organization of Petroleum Exporting Countries (OPEC), saying "Looks like OPEC is at it again. With record amounts of oil all over the place, including the fully loaded ships at sea, oil prices are artificially very high....⇒⇒⇒
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