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Upstream

Crude Oil prices rally as Saudi pledges output cut

Crude oil prices were observed in February climbed to almost a year high since same period in previous year. This positive crude market upthrust is not far from recent Saudi Arabia’s pledge to cut its crude production output in strengthening the global crude oil prices from sliding further. Saudi Arabia, the world’s biggest oil exporter, […]

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Drilling Activities & Discoveries across the Globe

Carnarvon Petroleum to spud Buffalo-10 well offshore Timor Leste next year. The objective is for drilling operations to take place in late 2021, with a date to be determined once a rig has been identified and long lead items have been ordered, along with completion of any necessary regulatory approvals. It is scheduled that the well will […]

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Drilling Activities & Discoveries the Globe

Beach Energy is now expected to begin its exploration and development drilling campaign offshore Australia, using Diamond Offshore semisub Ocean Onyx, around February 2021. The campaign will keep the rig busy until 2022 with three one-well options also available thereafter.  Serica Energy reports that offshore operations at its UK Rhum field, R3 Intervention Project using Awilco Drilling semisub WilPhoenix, have been […]

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Patches from African Upstream Market

Vantage Drilling jackup Sapphire Driller has been secured by Trident Energy for a new campaign offshore Equatorial Guinea. The work scope consists of two firm wells and five options, commencing in the second quarter of 2021.  Operators Tullow Oil and Eni are both understood to be close to announcing rig contracts for drilling campaigns offshore Ghana, both […]

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Eni and SNOC announce production start-up from Mahani Field in Sharjah Emirate

Eni and Sharjah National Oil Corporation (SNOC) are pleased to announce production start-up from the Mahani field, located in onshore Concession Area B of the Sharjah Emirate. This is the first step in the further evaluation of the Mahani gas and condensate discovery, announced last January, that is estimated to hold significant resources of natural […]

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Taiwan’s CPC Receives first crude from Oxy Field in Chad

The first shipment of oil produced from the Oryx field in Chad operated by CPC Corp. Taiwan arrived in the southern port city of Kaohsiung Nov. 30, marking a milestone in the state-owned company’s overseas operations.   At a ceremony celebrating the occasion, CPC Chairman Jerry Ou said the batch of 950,000 barrels is the […]

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Seplat, Waltersmith sign Crude Purchase Agreement

Seplat Petroleum Development Company a Nigeria based exploration and Production Company has announced a Crude Purchase Agreement (CPA) with Waltersmith Petroman Oil Limited (Waltersmith). The CPA is for the supply of between 2,000 and 4,000 bopd from existing working-interest production from the Ohaji South Field within OML53, for Waltersmith’s new 5,000 bopd modular refinery at […]

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Eni, PTTEP acquire stakes in Offshore Block 3 in Abu Dhabi’s second competitive bid round

Eni has signed a Concession Agreement for the acquisition of a 70% stake in the Exploration Offshore Block 3, leading a consortium including a wholly owned subsidiary of Thailand’s PTT Exploration and Production Public Company Limited (PTTEP) with the remaining 30% stake.The block has been awarded following Abu Dhabi’s second competitive block licensing round aimed […]

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PETRONAS Hits First Crude Oil Discovery in Block 52, Sloanea-1 Offshore Suriname

PETRONAS through its subsidiary, PETRONAS Suriname E&P B.V. (PSEPBV) today announced that it made its first discovery of hydrocarbon in Suriname with the successful drilling of the Sloanea-1 exploration well located in Block 52.  PSEPBV is the operator of Block 52 and holds 50 per cent participating interest, together with ExxonMobil Exploration and Production Suriname […]

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Occidental in for Onshore Exploration Block in Abu Dhabi’s Second Competitive Block Bid Round

The Abu Dhabi National Oil Company (ADNOC) has announced the signing of an exploration concession agreement, awarding the exploration rights for Abu Dhabi Onshore Block 5 to Occidental, a US-based international oil and gas exploration and production company.  The award has been approved by Abu Dhabi’s Supreme Petroleum Council (SPC) and follows the SPC’s endorsement […]

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