If Saudi Arabia wants OPEC and its allies to agree to lower oil output, it will likely have to do “a lot of the heavy-lifting,” one oil watcher has told CNBC. OPEC is weighing possible production cuts at its meeting in Vienna on Thursday and Friday. Prices have struggled following… Continue reading
SINGAPORE: The Sangomar Field Development Phase 1 (Sangomar Development) has been approved by the Rufisque Offshore, Sangomar Offshore and Sangomar Deep Offshore (RSSD) joint venture and has entered the execute phase of activities. Woodside, as operator of the RSSD joint venture, has executed the purchase contract for the floating production… Continue reading
LUXEMBOURG: Subsea 7 S.A. has announced the award of a very large contract (over USD 500mn) by Woodside to Subsea Integration Alliance for the Sangomar Field Development Phase-1 project located in the Sangomar Offshore and Sangomar Offshore Deep oil blocks, offshore Senegal. Subsea Integration Alliance is a non-incorporated strategic global… Continue reading
CALGARY, ALBERTA: Touchstone Exploration Inc. has provided production test results for the Coho-1 well on the Ortoire exploration block, onshore in the Republic of Trinidad and Tobago. As previously reported, the Coho-1 exploration well (Touchstone 80% working interest operator, Heritage Petroleum Company Limited 20% working interest) was spudded on August… Continue reading
TOKYO: MODEC, Inc.; Mitsui & Co., Ltd.; Mitsui O.S.K. Lines, Ltd. and Marubeni Corporation have agreed that Mitsui, MOL and Marubeni will invest in a long-term charter business currently promoted by MODEC for the purpose of providing a floating production, storage, and offloading system (FPSO) for use in the Búzios… Continue reading
STOCKHOLM: S&P Global Ratings have upgraded Norwegian oil and gas company Aker BP to ‘BBB-‘; with stable outlook. Production is increasing and the company retains capital flexibility. The upgrade stems from the view that the production increase stemming from new barrels at Johan Sverdrup will boost Aker BP’s operating cash… Continue reading
DUBAI: Gulf Marine Services (GMS) announced the award of a 4-year contract for a K-Class (Small) vessel. GMS’s customer is a Middle East national oil company, for which GMS will provide support for offshore activities. The work will be undertaken in United Arab Emirates waters, where the vessel will be… Continue reading
DUBAI: Oil rose on Wednesday following media reports that China was open to agreeing a partial trade deal with the United States. on the other hand, Turkey’s military operation in northern Syria also supported prices as it could impact regional oil production. Brent crude was up 97 cents at $59.21… Continue reading
LONDON: The Oil and Gas Development Company (OGDC) Pakistan has notified that as per information received from MOL, the operator of TAL Block, hydrocarbons have been encountered in Development well Makori Deep-02, which has been drilled and is currently under testing phase. As a result of drill stem test (DST)… Continue reading
TOKYO: MODEC, Inc. announced that it has received a Letter of Intent (LOI) for supply, charter, and operations of a Floating Production Storage and Offloading (FPSO) vessel for Petróleo Brasileiro S.A. (Petrobras” for Búzios 5. The firm time charter period of the contract is 21 years. [the_ad id=”31605″]This will be… Continue reading
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