Archives July 2014

Jul
31
2014

Drilling commences in Sidi Moussa block offshore Morocco

Drilling has begun on the Sidi Moussa block offshore Morocco, said joint-venture partner Serica Energy PLC. The Noble Paul Romano semisubmersible spudded the SM-1 well on July 30 about 60 km offshore in 990 m of water. Operations are expected to be completed in 60-90 days. …read more Source: Oil Gas Journal   

Jul
31
2014

CNOOC starts oil production from Panyu project in S. China Sea

CNOOC Ltd. reported that its Panyu 10-2/5/8 project has started oil production. The Panyu 10-2/5/8 project lies in 100 m of water in the Pearl River Mouth basin of the South China Sea. …read more Source: Oil Gas Journal   

Jul
30
2014

Rosneft, PDVSA sign agreements for offshore projects

OAO Rosneft and Petroleos de Venezuela SA (PDVSA) have signed a cooperation agreement for offshore projects in the Rio-Caribe and Mejillones blocks, the second stage of the Mariscal Sucre gas project …read more Source: Oil Gas Journal   

Jul
29
2014

Chesapeake, RKI E&P agree on Powder River acreage exchange

Chesapeake Energy Corp. and RKI Exploration & Production LLC (RKI), both of Oklahoma City, have agreed to exchange nonoperated interests in 440,000 gross acres in the Powder River basin in southeastern Wyoming. …read more Source: Oil Gas Journal   

Jul
29
2014

CNOOC starts natural gas production from East China Sea field

China National Offshore Oil Corp. Ltd. reported the start of natural gas production from Lishui 36-1 field on Block 25/34 in the East China Sea. …read more Source: Oil Gas Journal   

Jul
28
2014

EIA: Summer natural gas injection continues at a record pace

The US Energy Information Administration’s current Short-Term Energy Outlook projects a record build of nearly 2,600 bcf from the beginning of April through the end of October, which would put inventories at 3,431 bcf at the end of October. In line with EIA’s expectations, working natural gas storage midway through the summer storage injection season […]

Jul
28
2014

Statoil installs Valemon topsides in Norwegian North Sea

Statoil ASA has installed topsides for the Valemon platform on Blocks 34/11 and 34/10 in the Norwegian North Sea. Samsung Heavy Industries built the structure after receiving a 2.3-billion kroner contract in 2011. …read more Source: Oil Gas Journal   

Jul
28
2014

EIA: OPEC’s 2013 oil export revenues fall 7%

According to recent estimates from the US Energy Information Administration, members of the Organization of the Petroleum Exporting Countries, excluding Iran, earned about $826 billion in net oil export revenues in 2013, a 7% decrease from 2012 earnings. But this was still the second-largest earnings totals during 1975-2013—the timespan of how long EIA has tracked […]

Jul
28
2014

States with fracing are economically stronger, House panel told

US states that embraced hydraulic fracturing and horizontal drilling staged stronger economic recoveries than those that did not since 2008 when the country plunged into recession, an economist told a House Energy and Commerce subcommittee. …read more Source: Oil Gas Journal   

Jul
28
2014

An Atlantic OCS step

If oil and gas drilling ever occurs off the US East Coast, the risk that a well will blow out catastrophically and spill oil, as tragically happened in the Gulf of Mexico 4 years ago, will be remarkably low. …read more Source: Oil Gas Journal   

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