Archives May 2016

May
3
2016

OTC: Egypt eyes free-market future as gas demand requires more development

The recent Zohr discovery in Egypt’s Mediterranean basin has given the country an impetus to further its move to an open oil economy, according Minister Tarek Elmolla of Egypt’s Petroleum and Mineral Resources Ministry. …read more Source: Oil Gas Journal   

May
3
2016

Swap deal to boost Statoil’s stake in Lundin

Statoil ASA has agreed to divest its entire 15% interest in Edvard Grieg field on PL338 offshore Norway to Lundin Petroleum AB in exchange for an increased shareholding in Lundin. …read more Source: Oil Gas Journal   

May
3
2016

Production resumes from Oyo-8 well offshore Nigeria

Production has resumed from the Oyo-8 well offshore Nigeria after the Island Constructor light well intervention (LWI) vessel successfully completed work, Erin Energy Corp. reported on May 3. …read more Source: Oil Gas Journal   

May
3
2016

Woodside, Talisman complete sale of Timor Sea fields

Partners Woodside Petroleum Ltd. and Talisman Energy Ltd. have completed their joint 2015 deal to sell mature Laminaria and Corallina oil fields in the western Timor Sea. …read more Source: Oil Gas Journal   

May
2
2016

EQT to acquire Statoil-operated Marcellus acreage for $407 million

EQT Corp., Pittsburgh, has agreed to acquire 62,500 net acres and current production of 50 MMcfd of natural gas equivalent in the Marcellus shale from Statoil USA Onshore Properties Inc. for $407 million. The deal is expected to close on or about July 8. …read more Source: Oil Gas Journal   

May
2
2016

State law pre-empts local fracing bans, Colorado Supreme Court rules

The Colorado Supreme Court overturned statutes that ban hydraulic fracturing in two communities along the state’s populous Front Range because they conflict with state law that authorizes the technology’s use. …read more Source: Oil Gas Journal   

May
2
2016

National Academies issue remote real-time offshore monitoring report

A new National Academies of Sciences, Engineering, and Medicine report recommends ways the US Bureau of Safety and Environmental Enforcement could apply remote real-time monitoring (RRTM) to improve the safety and reduce the environmental risks of offshore oil and gas operations. …read more Source: Oil Gas Journal   

May
2
2016

Shell cancels FLNG orders for Browse development

Royal Dutch Shell PLC has cancelled a $4.6-billion contract with South Korean shipbuilder Samsung Heavy Industries Co. Ltd. for three floating LNG vessels. …read more Source: Oil Gas Journal   

May
2
2016

CSB: Offshore regulatory reforms since Macondo blowout fall short

Offshore oil and gas regulatory changes since the 2010 Macondo deepwater oil well blowout and crude oil spill do not do enough to place the onus on industry to reduce risk, nor sufficiently empower the federal regulator to proactively oversee industry’s efforts to prevent a similar disaster, the US Chemical Safety Board said in a […]

May
2
2016

Seismic offshore Congo highlights presalt opportunity

Shooting new 3D seismic and reprocessing legacy data offshore Congo (Brazaville) will lead to near-term exploration despite an overall decline in exploration worldwide as the industry works toward oil-price stability. …read more Source: Oil Gas Journal   

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