Exxon Set to Order Fifth Guyana FPSO, Sizing up More Blocks
Exxon Mobil Corp. is preparing to approve its fifth oil production project in Guyana and is considering taking additional exploration acreage, the head of its Guyanese operations, Alistair Routledge, told Reuters in an interview. The efforts would add significantly to the $30 billion committed thus far by Exxon and Guyana partners Hess Corp and CNOOC Ltd. The latest development will cost about 27% more than the last, a new estimate showed, reflecting inflation and the larger scope of the project.
Gazprom’s Arctic Offshore Platform Hits Milestone
Russian shipping company Sovcomflot (SCF Group) said that the Arctic shuttle tanker Mikhail Ulyanov loaded the milestone 10-millionth tonne of commercial oil produced at Prirazlomnaya offshore platform in the Pechora Sea.The energy shipping companies, specialising in the transportation of crude oil, petroleum products, and liquefied gas, as well as the servicing of offshore oil and gas exploration and production said that this cargo of oil has become the 150th shipped from the platform since the transportation began in April 2014.Symbolically, it was also Mikhail Ulyanov who has delivered the very first cargo of oil produced at the platform…
AIOC Awaits Go-Ahead on Caspian Oil Project
The BP-led Azerbaijan International Operating Company (AIOC) said on Wednesday it expected the Azeri government to give a green light in August for the next phase of its Caspian oil production project. AIOC's president David Woodward told an oil and gas conference in the Azeri capital Baku the next phase aims to boost production to 350,000 barrels per day in 2005 from current levels of 100,000-130,000 bpd. The project envisages bringing the Azeri field onstream in early 2005, adding to volumes from the Chirag field, which has been in production since 1997. The cost of the expansion plans, called Phase One, is put at $3.3-3.4 billion, Woodward said.
Offshore Project To Get Green Light
The BP-led Azerbaijan International Operating Company (AIOC) expects the Azeri government to give a green light in August for the next phase of its Caspian oil production project. AIOC's president David Woodward said the next phase aims to boost production to 350,000 bpd in 2005 from current levels of 100,000-130,000 bpd. The project envisages bringing the Azeri field onstream in early 2005, adding to volumes from the Chirag field which has been in production since 1997. The cost of the expansion plans, called Phase One, is put at $3.3-3.4 billion, Woodward said. The next phase envisages the construction of a drilling platform for 48 wells, a gas compressing facility, an underwater pipeline from the Azeri field and modernization of an onshore oil terminal.
