Archives June 2016

Jun
30
2016

Johan Sverdrup riser platform construction begins in South Korea

Statoil ASA said construction has begun at the Samsung Heavy Industries yard in South Korea on the riser platform for the Johan Sverdrup development in the North Sea. …read more Source: Oil Gas Journal   

Jun
30
2016

Tullow’s TEN project nears completion offshore Ghana

The Tullow Oil PLC-operated Tweneboa-Enyenra-Ntomme (TEN) project offshore West Africa is now 96% complete and expected to begin oil production within 3-6 weeks. Nearby offshore Ghana, the firm is developing a long-term oil offtake solution at Jubilee field following an issue with the floating production, storage, and offloading vessel’s turret bearing. …read more Source: Oil […]

Jun
30
2016

Stone Energy cancels contract for Ensco 8503 rig

Stone Energy Corp., Lafayette, La., has agreed with Ensco PLC to cancel the contract for the Ensco 8503 dynamically positioned deepwater drilling rig that was operating in the deepwater Gulf of Mexico. …read more Source: Oil Gas Journal   

Jun
30
2016

Harvest in new deal for Venezuelan assets

Harvest Natural Resources Inc. has reached an agreement to sell its Venezuelan interests and continues to seek a buyer for its remaining exploration and production holdings, which are in Gabon. …read more Source: Oil Gas Journal   

Jun
29
2016

Survey: Outlook improving for US Eleventh District oil, gas firms

Oil and gas companies in Texas, southern New Mexico, and northern Louisiana reported improved business activity for the second quarter and thus a more positive outlook for the rest of the year onward, according to executives responding to a quarterly Dallas Federal Reserve energy survey. …read more Source: Oil Gas Journal   

Jun
29
2016

Magnolia Petroleum acquires assets from Famcor Oil

Magnolia Petroleum Co., a Dallas-based partnership of Burnett Petroleum Co. (BPC) and private equity firm CIC Partners, has acquired all of the assets of Famcor Oil Inc. Houston. …read more Source: Oil Gas Journal   

Jun
28
2016

Contract let for third Peregrino platform

South Atlantic Holding, a joint venture of Statoil SA and Sinochem, is proceeding with the second phase of development of Peregrino heavy oil field offshore Brazil. …read more Source: Oil Gas Journal   

Jun
27
2016

TAEP: Upstream job losses in Texas eclipse 100,000 despite rising oil prices

An increase in crude oil prices in Texas to $43.38/bbl in May from $27.08/bbl in February couldn’t prevent the tally of upstream job losses from surpassing 100,000, according to the Texas Alliance of Energy Producers’ latest Texas Petro Index (TPI). …read more Source: Oil Gas Journal   

Jun
27
2016

Total to receive 30% interest in Qatar’s Al-Shaheen field

Total SA has been awarded 30% interest by Qatar Petroleum (QP) in the concession covering the offshore Al-Shaheen oil field. …read more Source: Oil Gas Journal   

Jun
27
2016

IHS: Oil sands output to rise 1 million bbl during 2016-25

Oil sands production is forecast to increase nearly 1 million b/d by 2025, driven primarily by the expansion of existing facilities with more attractive economics, according to analysis from IHS. …read more Source: Oil Gas Journal   

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