Shell Petroleum N.V. has signed an agreement with Malampaya Energy XP Pte Ltd (a subsidiary of Udenna Corporation), for the sale of its 100% shareholding in Shell Philippines Exploration B.V. (SPEX). SPEX holds a 45% operating interest in Service Contract 38 (SC38), which includes the producing Malampaya gas field. The base consideration for the sale […]

Tethys Oil has released update on the exploration well Thameen-1 on Block 49 onshore Oman that was drilled to its final total depth and wireline logging operations completedThe drilling of the Thameen-1 exploration well stands out as quite a transformational event for Tethys Oil and certainly as the most significant event during the first quarter […]

CNOOC Limited has announced commencement of production in Liuhua 29-2 gas field offshore china. The Liuhua 29-2 gas field is located in the eastern South China Sea, 300 kilometers southeast of Hong Kong, with water depth of about 750 meters. A new subsea wellhead has been built, with 1 development well planned, which will fully […]

Petrobras has commenced the bidding process for the acquisition of a new FPSO for the Búzios field, in the Santos Basin pre-salt area, offshore Brazil, source said. Called P-80, the FPSO will be the ninth unit to operate in the field, with the capacity to process 225 thousand barrels of oil and 12 million cubic […]

A jack-up drilling rig owned by Malaysia’s Velesto Energy, and working for ConocoPhillips, off the Malaysian state of Sarawak, has sunk our source reported. According to the source, the jack-up rig Naga (dragon) 7 started to sink after it apparently “punched through” the seabed. “What I understand by this is that when it started testing […]

FAR has said that the company is in progressing as in continuation of interpretation of the Davros Extension multiclient 3D survey, which has provided additional insight on the prospectivity of the block. The according to the company as released in its first quarter 2021 0perational update , Further detailed analysis is ongoing as  gradual easing […]

First Quarter 2021 Results and Management Perspectives Cash flow from operating activities of $9.3 billion fully funded dividend and capital expenditures, and drove debt reduction of over $4 billion Lowered cash operating expenses versus the first and fourth quarters of 2020; on pace to deliver additional structural cost savings Advanced several initiatives to reduce emissions […]

KrisEnergy Ltd together with its subsidiaries, an independent upstream oil and gas company, refers to its announcement dated 31 March 2021 in relation to the production performance of the KrisEnergy-operated Apsara oil development.  The Company has received the update on the independent review of the Apsara field’s performance by third-party petroleum engineering consultant, Netherland, Sewell […]

ExxonMobil said that it made an oil discovery at the Uaru-2 well in the Stabroek Block offshore Guyana. Uaru-2 will add to the previously announced gross discovered recoverable resource estimate for the block, which is currently estimated to be approximately 9 billion oil-equivalent barrels. Drilling at Uaru-2 encountered approximately 120 feet (36.7 meters) of high […]

Equinor and Grayson Mill Energy have completed their transaction that was previously announced in February 2021. As a result, Equinor has divested all its operated and non-operated acreage in the Bakken field in the US states of North Dakota and Montana to Grayson Mill Energy, along with associated midstream assets, for a total consideration of […]