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Quality Oil News

07 Dec 2023

PTTEP’s New Discoveries in Malaysia Support Cluster Development

Source: PTTEP

PTTEP has made three consecutive oil and gas discoveries offshore Malaysia and says it is strategically poised to expedite the development of these discoveries through a cluster development approach.Montri Rawanchaikul, CEO of PTTEP, disclosed that PTTEP’s subsidiary, PTTEP HK Offshore Limited and PTTEP Sarawak Oil Limited have made new oil and gas discoveries in three fields offshore Sarawak, Malaysia, including Chenda-1 exploration well in the block SK405B, Bangsawan-1 and Babadon…

05 Jan 2022

ExxonMobil Makes Two Oil Discoveries Offshore Guyana. Liza Unity FPSO on Track for First Oil in 1Q

Oil and gas major ExxonMobil on Wednesday announced two new oil discoveries offshore Guyana, at Fangtooth and Lau Lau wells, adding to previous recoverable resource estimate of 10 billion oil-equivalent barrels.The Fangtooth-1 well, drilled with the Stena DrillMAX drillship, encountered approximately 164 feet (50 meters) of high-quality oil-bearing sandstone reservoirs. The well was drilled in 6,030 feet (1,838 meters) of water and is located approximately 11 miles (18 kilometers) northwest of the Liza field. The Lau Lau-1 well, drilled by the Noble Don Taylor drillship, hit around 315 feet (96 meters) of high-quality hydrocarbon-bearing sandstone reservoirs.

28 Jul 2021

Guyana in Focus: ExxonMobil Finds More Oil; FPSO Appetite 'Huge'

U.S. oil major ExxonMobil has made another oil discovery at the prolific Stabroek offshore block in Guyana. This adds to around nine billion barrels of oil equivalent discovered over the past few years and paves way for future development.The discovery was made at Whiptail-1 well at the 6.6 million acres (26,800 square kilometers) offshore block. The well encountered 246 feet (75 meters) of net pay in high-quality oil-bearing sandstone reservoirs. The Whiptail discovery is located approximately 4 miles southeast of the Uaru-1 discovery that was announced in January 2020 and approximately 3 miles west of the Yellowtail field. Whiptail-1 is being drilled in 5…

21 Jun 2018

ExxonMobil, Hess Announce Oil Discovery Offshore Guyana

Stena Carron (Photo: Stena Drilling)

ExxonMobil and the Hess Corporation announced an eighth oil discovery offshore Guyana at the Longtail-1 well, creating the potential for additional resource development in the southeast area of the Stabroek Block. The companies said approximately 78 meters of high-quality, oil-bearing sandstone reservoir was encountered. The well was drilled to 5,504 meters depth in 1,940 meters of water by the Stena Carron drillship on May 25, 2018. The Longtail-1 well is located approximately 5 miles west of the Turbot-1 well and follows previous discoveries on the Stabroek Block at Liza…

05 Jan 2018

ExxonMobil Announces Oil Discovery Offshore Guyana

(Photo: ExxonMobil)

Exxon Mobil Corporation announced its sixth oil discovery offshore Guyana since 2015, following positive results from its Ranger-1 exploration well. The Ranger-1 well discovery adds to previous discoveries at Liza, Payara, Snoek, Liza Deep and Turbot, which are estimated to total more than 3.2 billion recoverable oil-equivalent barrels. ExxonMobil affiliate Esso Exploration and Production Guyana Ltd. began drilling the Ranger-1 well on November 5, 2017 and encountered approximately 70 meters of high-quality, oil-bearing carbonate reservoir.

18 Aug 2017

TEN Get Charter for Two Suezmaxes

Tanker operator Tsakos Energy Navigation (TEN) announced the expansion of its long term strategic alliance with a major US oil concern. Two suezmax vessels have been chartered for three years, bringing the relationship to six vessels. These charters are scheduled to commence in early September upon completion of the current employment of each vessel and contain profit sharing arrangements. "We are pleased that these new charters not only solidify the Company's cash generating ability and visibility, but also emphasize the fleet's competitive advantage when seeking to secure charters with high quality oil concerns," stated George Saroglou, Chief Operating Officer of TEN.

04 Jan 2016

Cairn Confirms Successful Senegal Appraisal

Cairn informed that the successful testing of the SNE-2 appraisal well offshore Senegal with positive results. Operations have been safely and successfully completed following drilling, coring, logging and drill-stem testing (DST). The well is now being plugged and abandoned. Following this first successful appraisal well, resource estimates for the SNE field will be fully revised and  announced after the results of the further appraisal activity. * DST over a 15m interval (~3.5m net) of relatively low quality “heterolithic” pay flowed at a maximum rate of ~1,000 bopd on a 24/64” choke, confirming that these reservoirs are able to produce at viable rates and thus make a material contribution to resource volumes.

28 Nov 2015

Statoil Picks MacGregor Mooring Systems for Hywind

MacGregor, part of Cargotec, has won an order for substructure connection mooring systems for the world's first floating offshore wind farm: Statoil's Hywind pilot park in Scotland. MacGregor will be responsible for the delivery of the Pusnes substructure mooring connection system for the pilot project's five floating wind turbines. Delivery of equipment is planned from the second through the fourth quarter of 2016 and installation of the wind turbines is scheduled for 2017. "This contract represents a step change for MacGregor in terms of entering a new industry sector," says Jan Martin Grindheim, Director, Sales and Business Development, MacGregor Offshore Mooring Systems. "The project hinges on applying proven technology in new applications.

23 May 2015

Mobil Says Oil Discovery off Guyana is 'Significant'

Unlike almost all its neighbors, Guyana isn’t an oil producer yet. But the energy giant Exxon Mobil recently announced it had discovered “significant” oil off the coast. The discovery could put Guyana on oil and gas Map and the country could become a player in the oil marketplace. However, it will take months to ascertain the size and commercial potential of this discovery. And there could be issues, as the waters also claimed by Venezuela as part of a long-running border dispute between the South American countries. But oil discovery offshore Guyana is the most exciting thing happening in terms of Latin America exploration right now. On Tuesday, Exxon Mobil Corporation announced a significant oil discovery on the Stabroek Block, located approximately 120 miles offshore Guyana.

05 Jan 2015

Petrobras Finds Oil in Offshore Pudding Well

Brazil's state-run oil company Petroleo Brasileiro SA said on Monday it had found "excellent quality" oil in an off-shore well known as Pudim, or pudding, in the Espirito Santo basin. Drilling confirmed oil at around 4,670 meters, the company known as Petrobras said in a securities filing. A previous test had confirmed oil at between 4,305 and 4,383 meters at 35 degrees on the American Petroleum Institute (API) scale. Petrobras is the operator of the consortium drilling in the basin, with a 65 percent stake. PTTEP Brasil Investimentos em Exploração e Produção de Petróleo e Gás has 20 percent, while Inpex Petróleo Santos Ltda has 15 percent.

11 Nov 2014

Cairn Makes Second Senegal Find

Cairn has made a discovery of high quality oil in the second well in the Senegal exploration programme. The SNE-1 well is located in 1,100 metres (m) water depth and approximately 100 kilometres (km) offshore in the Sangomar Offshore block with a target depth of ~3,000 m and targeting the Shelf Edge Prospect. Intermediate logging of the SNE-1 well has confirmed hydrocarbons in the Cretaceous clastics objective which is of similar age to oil bearing sands found approximately 24 km away in FAN-1. As operator, Cairn has now issued Notices of Discovery for the SNE-1 well and FAN-1 well to the Government of Senegal on behalf of the Joint Venture. Further evaluation of this zone is continuing. The deeper target of karstified and fractured Lower Cretaceous shelf carbonates is yet to be reached.

30 Oct 2014

First Libra Offshore Oil Well Confirms Discovery

Libra consortium reports that drilling the first well in the area extension of Libra, the 3-BRSA-1255-RJS (3-RJS-731), confirmed the discovery of good quality oil in the northwestern part of the structure . Well, informally known as NW1, is located in the pre-salt Santos Basin, approximately 170 km off the coast of Rio de Janeiro and about 4 km southeast of the discovery well, 2-ANP-2A RJS. The carrier oil interval was found through profiles and fluid samples, which will subsequently be characterized by laboratory analysis. The well is still being drilled at a depth of 5,326 meters, and continue until the 5850 meters. The consortium will continue its operations to complete the project well drilling to the intended depth and to verify the extension of the new discovery…

27 Oct 2014

Brazil's Petrobras Finds Oil in Libra Prospect

Brazil's state-run oil company Petroleo Brasileiro SA said on Monday it found "good quality" oil in an exploration well in the giant Libra prospect, off the coast of Rio de Janeiro state. The well is the first drilled by the Petrobras-led consortium which won the right to explore and develop the area which contains an estimated 8-12 billion recoverable barrels of petroleum. Petrobras has a 40 percent stake in the group with Royal Dutch Shell Plc and Total SA each owning 20 percent and China's CNPC and CNOOC Ltd each with 10 percent. Reporting by Stephen Eisenhammer and Jeb Blount

01 Sep 2014

Achinsk Refinery Resumes Operation on Tight Schedule

Achinsk Oil refinery, suspended after the incident of June 15, 2014 has recovered the processes of primary crude oil processing on a tight schedule, according to the plan of repair activities. From the 1st of September the enterprise has commenced production of the main types of oil products: straight-run gasoline, diesel fuel, marine fuel and aviation fuel, as well as WLHF (wide light hydrocarbon fraction). Concurrently with the primary crude processing plant a VT-Bitumen unit, producing petroleum bitumen, resumed to operating. Achinsk refinery is planned to produce more than 400 thousand tons of finished product, which makes more than 70% of prefault performance. The production volume will be increased in months to come.

07 Mar 2014

Petrobras Finds New Oil in Offshore Florim, Lara Fields

Reuters - Brazil's state-run oil company, Petroleo Brasileiro SA, said on Friday that it had discovered new, good-quality oil deposits in the so-called sub-salt region. Petrobras, said the discovery was made in the Florim and Iara fields in the offshore Santos basin. Petrobras expects to continue exploration around the two wells until September. (Reporting by Paulo Prada. Editing by Andre Grenon)

22 Aug 2012

Deepwater Oil Strike by Petrobras Offshore Brazil

Petrobras strikes oil deposits in a new discovery in the 'Rights Transfer Area' some 200 km off the coastal city of Rio de Janeiro. Petrobras has discovered good quality oil in the fourth well drilled in the Rights Transfer area in the Santos Basin pre-salt cluster. The well, 3-BRSA-1053-RJS (3-RJS-699), known as Franco SW, is located at a water depth of 2,024 m, some 210 km off the coast of the city of Rio de Janeiro and 17 km south of discovery well 2-ANP-1-RJS (Franco). The discovery was confirmed by good quality cable test oil samples (28º API). They were collected in carbonate rock reservoirs, with rock thicknesses similar to those found in the discovery well. The discovery also confirms the extension of the oil reservoirs in the southern Franco area.

14 Mar 2012

First Oil Drawn From Caesar Tonga Field in Gulf of Mexico

The Constitution spar floating production facility (Photo: Anadarko).

Statoil’s operations in North America got another boost when operator Anadarko Petroleum and co-owners Shell and Chevron today announced the beginning of first oil production from the Caesar Tonga deep-water project in the Gulf of Mexico. Caesar Tonga, in which Statoil Gulf of Mexico LLC has a 23.55 percent  working interest, began flowing high-quality oil on March 7. Production from the project’s first three wells is expected to ramp up to approximately 45,000 barrels of oil equivalent (BOE) per day.

26 Jan 2012

Coast Guard Conducts MI Spill Drill

USCG crewmembers used an oil-skimming device to recover peat moss, acting as a substitute for spilled oil, near Mackinac Island.

Coast Guard, Response Agencies deploy equipment for oil-recovery training in Michigan waters. Members of the U.S. Coast Guard, Michigan Department of Environmental Quality, oil spill response organizations, Enbridge Energy Partners and several other agencies this week participated in a unique exercise out of St. Ignace, Mich., Monday through Wednesday, during which several techniques for recovering spilled oil and other hazardous materials from icy waterways were tested and evaluated.

05 May 2010

Statoil Stronger Results, Volatile Markets

Statoil's first quarter 2010 net operating income was NOK 39.6 billion, an 11% increase compared to NOK 35.5 billion in the first quarter of 2009. The quarterly result was mainly affected by a 48% increase in liquids prices measured in NOK and a 35% decrease in gas prices. Adjusted earnings in the first quarter of 2010 were NOK 38.9 billion. The 8% increase in adjusted earnings from first quarter 2009 to first quarter 2010 was primarily caused by the increase in prices for liquids and was only partly offset by reduced gas prices, lower entitlement volumes and lower results from oil trading. Net income in the first quarter of 2010 was NOK 11.1 billion, compared to NOK 4.0 billion in the first quarter of 2009.

23 Mar 2010

New Discovery in GOM, Vito Appraisal

Statoil USA E&P Inc. announced that the Shell operated Vito appraisal well in deep water Gulf of Mexico has encountered more than 600 net feet of high-quality oil pay in thick subsalt Miocene sands. This sidetrack appraisal well, which is located in Mississippi Canyon block 940, is more than one mile from the 2009 Vito discovery well. Statoil holds a 25% working interest in the block. “The Vito oil discovery is located in an area of good reservoir development within the Miocene play. In addition to our participation in other large discoveries in this play, Statoil plans to test several new Miocene exploration opportunities through its current operated drilling campaign,” said Helen Butcher, head of Gulf of Mexico Exploration.

06 Oct 2003

Another Brostrom Newbuilding Launched

At a ceremony on October 4 at the Shipyard Ferus Smit in the Netherlands, another product tanker was launched and named. The vessel was given the name BRO GRATITUDE by her Godmother Mrs Karla Peijs, Minister of Transport, Public Works and Water Management in the Dutch Government. In her speech to the participants attending the launching Mrs Peijs emphasized the growing importance of quality shipping as part of the European infrastructure. She also commented that shipping policy…

13 Nov 2003

Propulsion: Optimizing Feed Rates For Crosshead Diesels

ExxonMobil introduced a program to optimize cylinder oil feed rates in low-speed (crosshead) diesel engines. The "Feed Rate Optimization" program is designed to help minimize operating expenses by analyzing scrapedown oil as a way to detect changes in the condition of an engine¹s cylinders. The program, which is designed to help customers find a balance between the cost of cylinder oil and the expense of wear-related cylinder maintenance, analyzes scrapedown oil collected from the engine’s scavenge space, a technique pioneered by ExxonMobil. It is designed to provide comprehensive laboratory testing and analysis of the oil sample, and offers onboard testing tools that enable ship’s engineers to quickly detect substantive changes in cylinder condition.

16 Jun 2000

Is The Tanker Top Near?

Oil tanker markets are again knocking at price barriers with year-highs expected to tumble as demand exceeds supply of modern ships, brokers were reporting. Shortages of high quality oil company approved vessels were causing rates to peak for Suezmaxes in the Mediterranean and West Africa and for Suezmaxes in the North Sea. July cargo demand for VLCCs in the Middle East was also seen possibly puncturing previous highs for the year. Strong demand from Western loading areas could deplete a potential 68 vessels available in the Middle East, of which just half were modern, broker E.A. Gibson said in a report. "(This) should contribute to a further upturn in rates," the broker said. Westbound VLCC rates have remained stable all week at W87.5-90 ($15.50 per ton) for the U.S. Gulf.