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Oil And Gas Discoveries News

29 Dec 2023

Venezuela Slams Deployment of British Warship to Guyana

© Grafvision / Adobe Stock

Venezuelan President Nicolas Maduro on Thursday said the deployment of a British warship to waters off the coast of Guyana breaches the "spirit" of an agreement reached between Venezuelan and Guyanese authorities.Guyana and Venezuela agreed earlier this month to avoid the use of force and avoid increasing tensions in the long border dispute over the oil-rich Essequibo territory.The 160,000-square-km (62,000-square-mile) Essequibo region is generally recognized as part of Guyana…

26 Dec 2023

UK to Send Navy Ship to Guyana Amid Venezuela Border Dispute

(File photo: LPhot Luke / U.K. Royal Navy)

Britain will deploy a naval ship off Guyana later this month, its ministry of defense said on Sunday, as the South American nation faces a border dispute with neighbor Venezuela over the oil-rich Essequibo region.The deployment follows a visit by a British junior foreign minister to Guyana earlier this month, intended to offer the UK's support for the country, an ally and former British colony.Guyana and Venezuela agreed earlier this month to avoid any use of force and not to escalate tensions in the long-running dispute.Venezuelan Defense Minister Vladimir Padrino said in a social media post

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…

13 Dec 2021

Exxon Proposing to Build Supply Base for Guyana Project

Liza Unity will be Guyana's second FPSO in production. It recently reached the country's waters - Image Credit: SBM Offshore

Exxon Mobil Corp outlined a major new investment in Guyana amid government calls for delivering economic benefits to residents from deepwater oil and gas discoveries helping turn the South American nation into an oil powerhouse.A coming onshore supply base will expand jobs and boost local fabrication for future projects starting with its fourth production unit, Exxon's president for Guyana Alistair Routledge said in remarks late Thursday. It will bring total investment in Guyana to $30 billion…

05 Nov 2019

EGPC Leads Oil, Gas Discoveries in Q3 2019

Egyptian General Petroleum Corporation (EGPC) led globally among companies in the third quarter (Q3) 2019 in terms of the highest number of oil and gas discoveries, said GlobalData.Of the total 38 discoveries made worldwide, EGPC had four, all being onshore discoveries. Of these, three were conventional oil discoveries while the remaining was a conventional gas discovery, said a report from GlobalData.Soorya Tejomoortula, Oil and Gas Analyst at GlobalData, explained: “Of the three conventional oil discoveries made by EGPC in Q3 2019, two are in the Western Desert Basin and the remaining is in the Gulf of Suez Basin. This lone conventional gas discovery was made in the Nile Delta Basin.”“Aker BP…

02 Jul 2018

MAC to provide Marine Assurance Services for Chrysaor

(Credit: Fifth Ring, Ltd.)

Maritime Assurance & Consulting (MAC), a Bureau Veritas company, has won a contract from Chrysaor for marine assurance services. The contract also includes engineering, DP assurance, marine warranty surveying (MWS), project assurance and compliance services. Chrysaor is focused on the development and commercialization of dormant oil and gas discoveries and incremental reserves. The company acquired stakes in 10 North Sea fields from Shell last year and was recently granted acreage in the UK’s 30th licensing round.

28 Dec 2015

Offshore Prospects for 2016: Playing the Waiting Game?

Photo: Douglas-Westwood

This year, the offshore oil and gas industry has had to come to terms with the worst downturn for more than a decade. With commodity prices plummeting to an 11-year low in December, market research and consulting firm Douglas-Westwood (DW) reflects on the year gone by and considers the outlook for the year to come. Offshore rig markets still have a lot to digest before recovery. Rig dayrates have plummeted as a function of significant oversupply. Many of these rigs were ordered in the previous up-cycle, but have only recently entered the fleet at a time when the appetite to drill is poor.

29 Aug 2014

East and South China Sea Disputes Need Creative Diplomacy

China and the United States appear headed for a damaging confrontation over the extent of China's territorial claims in the South and East China Seas. Now that China has become the world's largest importer of oil, and energy more generally, the country's need to develop more indigenous energy supplies has become urgent. Expecting China to put the South and East China Seas off limits to exploration and production until disputes over sovereignty can be resolved through some undefined legal or diplomatic process is unrealistic. Part of the problem is that western analysts and policymakers still fail to appreciate the strategic importance of these areas.

23 Apr 2014

Offshore Oil & Gas: Brazil’s Northern Frontier

In an effort to spread out oil and gas production to other parts of the country and increase overall oil production, Brazil has finally intensified hydrocarbon exploration along its northeastern and northern coasts. These are some of the poorest regions in the country and infrastructure for oil and gas exploration is minimal, yet significant discoveries and seismic indicators of large reservoirs are tantalizing and have attracted major local and foreign investors. Potential for oil discoveries in the area is proven, yet players will be faced by many challenges offshore and on land in order to uncork reservoirs at the Northern Frontier.

13 Mar 2014

VIKING Reports 10 Years of Profit Growth

Henrik Uhd Christensen

VIKING Life-Saving Equipment A/S announced its 2013 financial results, reporting growth in both turnover and profits for 10 straight years. Adjusted for falls in the U.S. dollar exchange rate, currencies pegged to the dollar, and European member state non-euro currencies, the company’s turnover for 2013 increased 6 percent to DKK 1.612 billion, VIKING said. Profit before tax grew more than 20 percent to a record DKK 141.2 million. “Our earnings have now reached an appropriate level for a healthy manufacturing company,” says VIKING CEO Henrik Uhd Christensen.

16 Apr 2013

Nor-Shipping 2013 Features Agenda Offshore Conference

Photo: Nor-Shipping

Building on the success of its first offshore conference in 2011, Nor-Shipping will again host Agenda Offshore on June 5, signifying the importance of the maritime industry as it increasingly moves offshore to service the oil and gas industry. Speakers Helge Lund, CEO of Statoil, and Andy Brown, the Upstream International Director of Royal Dutch Shell plc, will share their insights as major oil and gas companies that are dependent on the maritime supplier industry for their cutting-edge technology and sophisticated equipment and vessels.

08 Apr 2013

Swire Oilfield Services Strengthens East African Presence

Dan Davies

Swire Oilfield Services, a global supplier of cargo carrying solutions, modular systems, offshore aviation services and fluid management, is strengthening its newly established presence in Kenya, East Africa with the appointment of Dan Davies as the new commercial manager. Dan will be responsible for the commercial activity across East Africa and further developing business in Kenya, Tanzania, Uganda, Madagascar and the wider East African region. The opening of an office in Kenya and the appointment of Dan comes as part of an overall growth strategy for Swire Oilfield Services in East Africa.

21 Dec 2012

EnerMech Weighs Up African Expansion

EnerMech acquisition Water Weights International specialize in proof load testing of cranes and lifting equipment.

EnerMech Ltd has stepped up its presence in the African oil and gas sector with the £3 million (43 million Rand) acquisition of heavy load testing company Water Weights International SA (Pty) Ltd. The mechanical engineering group will use Water Weights International’s (WWI) strategic relationships to accelerate growth of its main business lines in South Africa and in key East and West African countries. EnerMech will invest up to £20 million (284 million Rand) in its African operations over the next three years and expects its workforce to grow to 250 in the same period.

05 Dec 2012

Tidewater Well Positioned After Spending On Deepwater Vessels

Global demand driving consistent year-over-year profits for Tidewater. A more modern fleet riding a rising tide should continue that trend, analysts and company officials say. Tidewater Inc., based in New Orleans, has invested in deepwater, platform supply vessels in recent years, a move that looks to be paying off as demand for those boats improves during a rush to build deep-ocean rigs. The company provides offshore supply vessels and marine support services for the world’s energy industry.

28 Nov 2012

Drydocks World to Build Solan Underwater Facility

HH Sheikh Mansour Bin Mohammed attends Drydocks World - Dubai multi-million dollar contract signing. Sword of Honour for 2012 received for excellent safety credentials. Drydocks World, a  service provider to the global maritime and offshore oil and gas industry has entered into a multi-million contract with Premier Oil, a well-known oil exploration and production company with interests in several countries, to build subsea facility for Solan oil field, at its Dubai based premium shipyard.

18 Sep 2012

World’s Largest Testing Vessel Unveiled

Left to right) Thor Hegg Eriksen - President of the Offshore BA of Trelleborg, Louise N. Anderson - General Consulate of Sweden, Riverton Mussi - Mayor of the city of Macaé , Julio César Carmo Bueno - Secretary for Economic Development, Energy, Industry and Services, Fredrik Meuller - President of Trelleborg Offshore & Construction, Conceição Ribeiro – President of CODIM, Luiz Edmundo Costa Leite – State Secretary for Science and Technology.

A global manufacturer of polymer and syntactic foam-based solutions for the offshore oil and gas industry, Trelleborg officially opened its newly constructed facility in Macaé, Brazil, on 13th September 2012. To support offshore customers in their quest to reach greater subsea depths, the new facility boasts the largest hydrostatic pressure testing vessel in the world. Trelleborg’s President for Offshore and Construction, Fredrik Meuller, commented: “As a business we have a continued long-term strategy to invest in markets with encouraging growth potential.

08 Aug 2012

Drillship Contracts Worth US$4-billion Awarded to Sembcorp

Sembcorp Marine secures US$ 4.032 Billion drillship contracts from Sete Brasil. Sembcorp Marine Ltd, through Jurong Offshore Pte Ltd’s wholly-owned subsidiarieshas secured contracts from Sete Brasil Participacǒes S.A. (Sete Brasil), for the design and construction of five drillships based on Jurong Shipyard’s proprietary Jurong Espadon drillship design. In addition to the above, Sembcorp Marine had earlier in the year announced that its wholly-owned Brazilian shipyard Estaleiro Jurong Aracruz Ltda secured a US$792.5 million contract for the design and construction of a drillship with Guarapari Drilling B.V., Netherlands, a subsidiary of Sete Brasil.

17 May 2012

ABS to Class Ensco Deepwater Drillships

Ensco plc has selected ABS as the class society for its advanced-capability, ultra deepwater drillship to be built at the Samsung Heavy Industries, Co. Ltd (SHI) Shipyard in Geoje, South Korea. The ENSCO DS-8 will be the sixth Samsung DP3 drillship in the fleet and will extend the benefits of Ensco’s fleet standardization strategy. With drilling capabilities in water depths to 12,000 feet and a total vertical drilling depth of 40,000 feet, this new vessel will meet the demands of ultra deepwater drilling. “Samsung is the market leader in drillship newbuilds and utilizes advanced shipbuilding technology. We’re proud that ABS will be the first class society to deliver this new drillship design,” says In Yong Jeong, ABS District Principle Surveyor.

07 Mar 2012

Strong Russian Presence at Oil & Gas Africa '12

Recent new oil and gas discoveries all over Africa are attracting investors and developers from around the world. Russia is the latest country to show an active interest in the continent’s oil and gas industry. The country will be sending a trade delegation to attend Oil & Gas Africa 2012, which takes place March 13-15 at the Cape Town International Convention Centre. This is the first time these companies and organizations will attend the show. The high-level Russian group will consist of chief executive officers, chief technology officers and policymakers who intend to pursue exploring opportunities on the subcontinent. The Russian delegation represents a wide range of industries related to the oil and gas sector…

08 Feb 2012

ADIL Inks Oil & Gas Contract with Iona

Energy consultancy ADIL announces six-figure contract win with Iona Energy. ADIL, the Aberdeen-based independent energy consultancy, announces a £500,000 contract win with oil and gas company, Iona Energy. ADIL will provide management support, enabling its client to develop a recently purchased field in the UKCS. Iona completed the acquisition of North Sea Block 3/8d, containing the Kells (formerly Staffa) Oil Field, earlier in January. The company is primarily focused on the acquisition, appraisal and development of oil and gas discoveries in the UK North Sea.

24 Jan 2008

Petro-Canada Reports O&G Discoveries

Petro-Canada is reporting oil and gas discoveries at two exploration wells: one in the U.K. sector of the North Sea and one in deep water off Trinidad and Tobago, according to a report on The Canadian Press. In Trinidad and Tobago, the Cassra-1 well in deep-water Block 22 was completed as a significant natural gas discovery. Petro-Canada operates the well and holds a 90 per cent interest. The second discovery was in the British sector of the North Sea, with the successful completion of the 13/21b-7 well. The well encountered two oil columns that total nearly 80 metres when combined.

03 Jan 2005

Keppel FELS Gets New Rig Order

Keppel FELS Limited secured a $110 million contract to build a jackup rig for Petrovietnam Drilling & Well Services Company (PV Drilling). Mr Tong Chong Heong, Managing Director and COO of Keppel O&M, shared, “We are honoured to be the builder of choice for PV Drilling. “Keppel FELS’ relationship with PV Drilling’s parent company, PetroVietnam, goes back some 20 years when we delivered Vietnam’s first rig, Tam Dao, to Vietsovpetro in 1988. “We are pleased to have secured this new contract after a long bidding period, the country’s second newbuilding project.

19 Nov 2007

Gas De France Acquires Stake in Block in Egypt

Gaz de France has acquired 45 percent stake in the Alam El Shawish West license in Egypt from Greek company Vegas Oil and Gas. The license is located at the Abu Gharadig Basin in the Western Desert, southwest of Alexandria. Several significant discoveries have already been made there and an exploration program has been under way. Oil production is expected to begin very shortly, followed by natural gas production in the years to come. Vegas Oil and Gas will remain the operator for the license. The transaction is subject to approval by the Egyptian authorities. A company announcement said that through this acquisition, Gas De France will be able to increase its portfolio of reserves by at least 30 million of barrels of oil equivalent, according to preliminary estimates.