Shell Makes Big Deepwater Oil Discovery in Gulf of Mexico
Oil major Royal Dutch Shell said its U.S. unit had made one of its biggest oil discoveries in the past decade in the Whale deepwater well in the U.S. Gulf of Mexico. The Whale is operated by Shell and co-owned by U.S. oil giant Chevron Corp. "Evaluation of the discovery was ongoing, and appraisal drilling is underway to further delineate the discovery and define development options," Shell Offshore Inc said in a statement without giving figures. Shell has three Gulf of Mexico deepwater projects under construction -- Appomattox, Kaikias and Coulomb Phase 2. It has added more than one billion barrels of oil equivalent (boe) resources in the last decade in the Gulf of Mexico.
Total Announces Major Deepwater Oil Discovery in US Gulf
French oil and energy group Total said on Wednesday that it had made a significant oil discovery at the Ballymore prospect in the deep offshore in the U.S. Gulf of Mexico, its largest discovery in the area. "This major discovery gives us access to large oil resources and follow on potential in the emerging Norphlet play," Arnaud Breuillac, Total's president for exploration and production, said in a statement. "While already deemed commercially viable, we will work together on the appraisal of this discovery and a cost-effective scheme to ensure a rapid, low breakeven development," he added. An assessment of the resource estimate was ongoing, the company said, adding that the discovery will bolster Total's new exploration strategy put in place since 2015.
McDermott Wins Subsea Contract in Malaysia
McDermott International, Inc. (NYSE: MDR) (“McDermott”) announced theaward of a subsea contract to its Malaysian subsidiary for deepwater offshore engineering and construction, including transportation and installation of subsea infrastructure. The award is for the Kikeh Subsea Expansion Project by Murphy Sabah Oil Co., Ltd. for the engineering, procurement, construction, installation andcommissioning of pipelines and an umbilical and subsea hardware package.Engineering work on the Kikeh Subsea Expansion Project has started and is expected to be completed in the third quarter of 2012. The Kikeh area is located 120 kilometers northwest of Labuan, Malaysia, in 1,350 meters of water and is Malaysia’s first deepwater oil discovery.
BP Amoco To Update Mammoth GOM Oil Discovery Soon
BP Amoco Plc said it should be able to provide an update on its giant Crazy Horse deepwater oil discovery in the Gulf of Mexico when two appraisal wells are completed during the next couple of months. "I would say the preliminary results are very encouraging and hopefully we will have some news in the near future," BP Amoco's Houston region Vice President David Welch told reporters after addressing the American Petroleum Institute's Houston chapter. The London-based company announced the Crazy Horse discovery last year, estimating that it contained reserves of at least one billion barrels of oil, making it the biggest ever deepwater discovery in the Gulf of Mexico.
