Archives May 2015

May
5
2015

Wintershall submits development plan for Maria field offshore Norway

Wintershall Holding GMBH submitted a plan for development and operation (PDO) for Maria field in the Norwegian Sea to the Norwegian Ministry of Petroleum and Energy. …read more Source: Oil Gas Journal   

May
5
2015

OTC: Brazil’s 13th bid round will be concession model, energy minister says

Brazil will use a concession model rather than a production-sharing model in the country’s 13th bid round later this year. The 269 blocks to be auctioned in the fourth quarter are outside of the presalt area and can be explored by any operator without a Brazilian partner, said Eduardo Braga, Brazil’s minister of mining and […]

May
4
2015

EOG Resources posts $170-million 1Q net loss

EOG Resources Inc., Houston, reported a first-quarter net loss of $169.7 million, down from net income of $660.9 million during first-quarter 2014. …read more Source: Oil Gas Journal   

May
4
2015

USGS report aims to improve quake prediction from induced seismicity

The US Geological Survey issued a report with preliminary outlines of models to predict severity of ground tremors in areas where sharp seismicity increases have been reported. …read more Source: Oil Gas Journal   

May
4
2015

GOM REVENUE SHARING-3 Forecast sheds light on GOMESA Phase II expected revenues

The second phase of Gulf of Mexico Energy Security Act of 2006 (GOMESA) revenue sharing will begin in 2017 and specifies that 37.5% of qualified revenues from Outer Continental Shelf (OCS) leases issued after Dec. 20, 2006, will be shared with gulf producing states, subject to an annual cap of $375 million. …read more Source: […]

May
4
2015

CERAWeek: Evolutions of Pemex, YPF running parallel

Chief executives of Mexico’s Petroleos Mexicanos (Pemex) and Argentina’s YPF SA are both seeing energy reforms within their respective countries, and both emphasize the need for investment from international oil and gas companies to achieve their new goals. …read more Source: Oil Gas Journal   

May
4
2015

Subsea gas compression increases chance of deepwater development

…read more Source: Oil Gas Journal   

May
4
2015

FE analysis controls subsea pipeline buckling

Finite-element (FE) analysis, as presented in the recently completed Safebuck joint industry project’s (JIP) design guideline, can help control buckling of subsea pipelines. …read more Source: Oil Gas Journal   

May
4
2015

GUIDE TO WORLD CRUDES: BG Group assays Brazilian Iracema crude

BG Group published a crude oil assay in February for its jointly owned Iracema discovery, which began producing third-quarter 2014 on Block BM-S-11 in the Santos basin off Brazil (OGJ Online, Oct. 14, 2014). …read more Source: Oil Gas Journal   

May
4
2015

Deepwater prospects gain momentum off Morocco

Morocco’s long-awaited offshore oil and gas development may soon be under way. …read more Source: Oil Gas Journal   

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