Communication between the Aldous and Avaldsnes oil discoveries in the North Sea has now been confirmed. In combination these discoveries may represent an oil structure of between 500 million and 1.2 billion barrels of recoverable oil equivalent. If the upper part of the interval strikes pay dirt, the discovery will be one of the ten largest oil finds ever on the Norwegian continental shelf (NCS). Statoil (OSE: STL, NYSE: STO) has a 40% stake both in licence PL 265, where Aldous was discovered, and in PL 501, where the Avaldsnes discovery was made. “Aldous/Avaldsnes is a giant oil discovery, and according to our estimates the combined discovery may make the top 10 list of NCS oil discoveries. Norway has not seen a similar oil discovery since the mid-eighties” says Tim Dodson, Statoil’s executive vice president for Exploration. This is the third “high-impact discovery” (*) for Statoil as an operator in 2011. In April of this year the 250 million barrel Skrugard oil discovery was made in the Barents Sea, and the 150-300 million barrel Peregrino South oil field was discovered offshore Brazil. “The discoveries are a result of Statoil’s exploration strategy of prioritising high-impact opportunities, while focusing on our established core areas,” says Dodson.
Spirit Energy 76, Unocal Corporation's U.S. Lower 48 exploration and production unit, said the exploratory well drilling the Mirage prospect in the Gulf of Mexico deepwater is a significant oil discovery. Spirit Energy holds a 25-percent working interest. Vastar Resources, Inc. owns 75-percent working interest and is the operator. Vastar estimates the well encountered approximately 300 ft. of net pay. The company said it is too soon to estimate the extent of the discovery
BP PLC (BP) reported that its Thunder Horse Gulf of Mexico project faces another setback, as a metallurgical failure will delay first production for at least 18 months pending the rebuilding of all production equipment on the sea bed, according to a Dow Jones Newswire report. The offshore oil and gas platform's new startup date will be mid-2008, a year and a half later than the previous estimate of early 2007, the London-based energy major said.
Sociedade Nacional de Combustíveis de Angola (Sonangol) and BP Exploration (Angola) Limited announced the Terra oil discovery in ultra-deepwater Block 31, offshore Angola. Terra is the twelfth discovery that BP has drilled in Block 31. The well is located approximately 30 km NW of the recently announced Titania discovery. Terra was drilled by the Jack Ryan drill ship, in a water depth of 2,328 metres, some 411 kilometres northwest of Luanda and reached a total depth of 6
Angolan national oil company Sociedade Nacional de Combustíveis de Angola (Sonangol) and BP announced an oil discovery in ultra-deepwater block 31, offshore Angola. This is the nineteenth find made in this block. StatoilHydro holds a 13.33% stake in block 31. The discovery, called Tebe, is located in the southern portion of block 31 about 12 kilometres south-east of the Hebe discovery and some 350 kilometres northwest of Luanda
Statoil's third quarter 2013 net operating income was NOK 39.3 billion. Adjusted earnings were NOK 40.4 billion. "Statoil delivered strong strategic progress in the third quarter. We added high-value barrels through the Bay du Nord discovery offshore Canada, the world's largest oil discovery this year. We also announced a major divestment to capture value created through asset development and unlock capital for investment in high return projects
Husky Energy Inc. Norsk Hydro Canada Oil & Gas say they have found new energy deposits near the Terra Nova oilfield off the East Coast. Calgary-based Husky and Norwegian-owned Norsk Hydro said late Tuesday that offshore drilling in the Jeanne d'Arc Basin off the coast of Newfoundland and Labrador had found hydrocarbons near Terra Nova, Canada's second major offshore field after Hibernia. The companies said the West Bonne Bay F-12 well is about 320 kilometres southeast of St. John's
The Netherlands, April 27, 2011 - Brazilian oil giant Petrobras has specified ultra strong, lightweight Dyneema® fibers for a complete set of mooring ropes for a semi-submersible mobile offshore drilling unit (MODU). Headquartered in Rio de Janeiro, Petrobras has substantial interests in deepwater exploration. Petrobras specifically asked for the ropes to be made with SK78 grade of UHMWPE (ultra high molecular weight polyethylene) fibers from DSM Dyneema for its high strength at low
As part of the Tullow-operated joint venture, Shell today confirms an oil discovery in the Guyane Maritime permit approximately 150-kilometers offshore French Guiana. The GM-ES-1 well is being drilled in a water depth of over 2,000 meters and to date has drilled to a depth of 5,711 meters. The well has encountered over 70-meters of net oil pay in two objectives. The joint venture plans to drill ahead to the planned target depth.
Specialist project management company EPC Offshore has announced the appointment of new managers to work on two of the North Sea’s biggest developments, as the company continues to increase growth in 2012. Project manager Euan Sellar will focus on the final phases of the Rochelle field development for Endeavour Energy in the Central North Sea. Aberdeen-based EPC has provided project management services for the pre-sanction and execution phases of this large subsea project
Five Japanese companies – Mitsubishi Heavy Industries, Ltd. (MHI), Imabari Shipbuilding Co., Ltd., Namura Shipbuilding Co., Ltd., Oshima Shipbuilding Co., Ltd. and Mitsubishi Corporation – have agreed to acquire a stake in ECOVIX -Engevix Construções Oceânicas S.A
The first episode of Discovery Channel’s 6-episode TV series about Maersk Line’s Triple-E vessel will be broadcast in Denmark on Thursday 24 October on the Discovery Channel. The series will be broadcast throughout Europe and Asia in November and December followed by Latin America
Rex International Holding said its 65% indirectly owned subsidiary, Lime Petroleum Norway AS, has received approval from the Norwegian Ministry of Petroleum and Energy for the acquisition of 10% interest in each of the two offshore licenses, PL 707 and PL 708, from North Energy ASA
A&P North East shipyard announces that the Subsea7 vessels 'Acergy Discovery' and 'Rockwater 1' will be dry-docked at the company's Tyne facility in November and December 2013. For the Acergy Discovery the main SOW covers thruster overhaul and general maintenance.
Keppel FELS delivers the harsh environment rig to Discovery Offshore, which is managed by Hercules Offshore. Named Discovery Triumph at the delivery ceremony, the first KFELS Super A Class jackup has been delivered 46 days ahead of schedule and with a perfect safety record.
GDF SUEZ E&P UK Ltd awards a £1.4 million joint study to Xodus Group and Atkins for Concept Select work for the Austen (formerly Jacqui) field in the Central North Sea, with a further option to proceed into the Concept Definition phase.
Inside Syndarma and Abeam: Organizing Brazil’s Maritime and OSV Markets For companies interested in operating in Brazil, it is important to understand the country. MR’s Editor in Rio breaks it down Syndarma – National Syndicate of Maritime Navigation Companies
Peak Production of 39,000 boepd, an increase of 13% over 2012 Dana Gas Egypt operations and production remains unaffected Total investments in Egypt exceeds US$1.8 billion Ongoing discussions with regulatory authorities to improve receivables
CNOOC Limited said that its parent company, China National Offshore Oil Corporation (CNOOC) has signed production sharing contract (PSC) with BP for deepwater Block 54/11 in Pearl River Mouth Basin in the South China Sea. Block 54/11 is located in Pearl River Mouth Basin in the east part
Statoil's second quarter 2013 net operating income was NOK 34.3 billion. Adjusted earnings were NOK 38.0 billion. "Statoil delivered an operationally solid quarter. We produced as planned, delivering record production from our portfolio outside Norway
E.ON Exploration & Production's (E&P) Tolmount gas discovery in the UK North Sea could contain significantly higher volumes than originally estimated, making it one of the largest discoveries made in this part of the North Sea for several years.
Statoil ASA has signed an agreement to divest minority interests in the Gullfaks and Gudrun fields offshore Norway and exit the non-core, non-operated Schiehallion and Rosebank fields, West of Shetlands. In addition to the cash consideration of USD 2
Dana Gas, one of Middle East's leading regional private sector natural gas Company, announces that it has achieved gas production level in Egypt of 200 million standard cubic feet per day (equivalent of 41,500 boepd, including over 8,000 barrels per day of associated liquids)
A new research report from Transport Intelligence (Ti) has suggested that due to a wave of new investment, the scope and structure of oil and gas exploration and production (E&P) has broadened extensively over the past decade, creating an array of opportunities for logistics service
Special to air Friday, September 20 at 10 PM E/P on the Discovery Channel and to Broadcast in Over 220 Countries and Territories Around the World What does it take to lift a ship bigger than the Titanic? On January 13, 2012, the Costa Concordia -- one of the largest and most luxurious