Swedish oil company Lundin Petroleum AB has announced its 2015 development, appraisal and exploration budget which totals $1.45 billion and represents a 31% decrease on forecast 2014 capital expenditure. The 2015 expenditure on development projects is budgeted at $980 million which represents a 30 p
Chevron Corporation today announced a significant oil discovery at the Anchor prospect in the deepwater U.S. Gulf of Mexico. Anchor is Chevron’s second discovery in the deepwater Gulf in less than a year. “The Anchor discovery, along with the previously announced Guadalupe discovery, are significant
Archer, a global supplier of drilling and well services, has received a thirty-day notice of early termination from Talisman Sinopec Energy UK Limited of its modular rig contract for the Archer Emerald. The effective date of termination is expected as the 29 of January 2015. The original two-year co
Lundin has received consent from the Petroleum Safety Authority (PSA) Norway to carry out exploration drilling of well 16/1-24, in a prospect named Gemini, in the North Sea. The well is located in the production licence PL 338 in block 16/1 in the central North Sea, where Lundin Norway AS (Lundin) i
South Korea’s Hyundai Heavy Industries (HHI), one of the world’s biggest shipbuilders and an offshore facilities contractor, has Park Jong-bong, executive vice president, to senior executive vice president, and appointed him as a new COO of its Offshore & Engineering Division. Park who has taken ove
Lundin Petroleum’s subsidiary Lundin Norway has completed the drilling of wildcat well 25/10-12S, located in the North Sea. The well is dry. The well investigated the hydrocarbon potential of the Kopervik prospect in PL625, which is located 175 km west of Haugesund on the Norwegian west coast and ap
Karoon Gas Australia Ltd’s Kangaroo-2 appraisal well, located in exploration Block S-M-1165, off Brazil, confirmed a 250 metre gross (135 metre net) oil column in Paleocene and Maastrichtian aged reservoirs, as announced on November 26, 2014. The company says that as at 0600 hrs AEST on January 6, 2
AGR has been awarded the Well Management Services Contract with Edison Norge AS. AGR will support Edison across its operating licences, including its first exploration well on the Norwegian Continental Shelf (NCS). The company will deliver services relating to well construction, operational support,
Baker Hughes Incorporated has posted Weekly Rig Count reports to its Investor Relations website according to which offshore rig count has dropped. BHI Rig Count: U.S. -29 to 1811 rigs U.S. Rig Count is down 29 rigs from last week to 1811, with oil rigs down 17 to 1482, gas rigs down 12 to 328, [&hel
McDermott International, Inc. has been awarded a contract to install the offshore jacket, deck and piles for the Ayatsil-A drilling platform for PEMEX Exploracion y Produccion (PEMEX) in the Bay of Campeche Ayatsil field. McDermott says that the value of the award is included in its fourth quarter b
Norway’s Statoil has informed that the Valemon gas and condensate field in the North Sea was brought on stream on Saturday, January 3, 2015 at 08.36 a.m. According to Statoil, recoverable reserves from the field are estimated at 192 million barrels of oil equivalent. “Valemon is one of several new p
Baker Hughes Incorporated has posted Weekly Rig Count reports to its Investor Relations website. Offshore rig count is unchanged from last week. BHI Rig Count: U.S. -35 to 1840 rigs U.S. Rig Count is down 35 rigs from last week to 1840, with oil rigs down 37 to 1499, gas rigs up 2 […]
CAMAC Energy Inc. announced today that the semi-submersible drilling unit, Sedco Express, has arrived to the Oyo Field located in OML 120 offshore Nigeria. CAMAC has contracted the Transocean Sedco Express to expedite the timing of production tie-in from the Oyo-7 and Oyo-8 development wells. The Se
A plot twist is a radical change in the expected direction or outcome of the plot of a novel, film, television series, comic, video game, or other work of narrative. That’s exactly what happened with one drilling contractor in Norway. At the times when oil companies are cutting costs and scrapping
