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Tuesday, August 26, 2014 - Research firm Wood Mackenzie says there are 10 billion barrels of hydrocarbons on the Norwegian Continental Shelf, of which 60% could be commercialized.
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Industry Headlines

Aker Solutions CEO: Oil Sector Should Simplify Tenders To Cut Costs
Tuesday, August 26, 2014 The oil industry could cut down costs by simplifying the process of tendering for contracts, Aker Solutions CEO Luid Araujo says.
Wood Mac: 10B Barrels of Undeveloped Resources on NCS
Tuesday, August 26, 2014 Research firm Wood Mackenzie says there are 10 billion barrels of hydrocarbons on the Norwegian Continental Shelf, of which 60% could be commercialized.
Kemp: East And South China Sea Disputes Need Creative Diplomacy
Tuesday, August 26, 2014 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.
Developer to Lease Ohio Site for Ethane Cracker
Tuesday, August 26, 2014 Slightly larger but still "less than world-scale," $1 billion integrated ethylene/polyethylene project advances.
US Crude Rises On Supportive Data, Brent Slips
Tuesday, August 26, 2014 US crude rises as supportive US economic data overshadowed concerns about slowed growth in other oil consuming economies and ample global oil supplies.
Songa Offshore Sees Improved Norway Rig Market From 2H 2015
Monday, August 25, 2014 Songa Offshore says it expected the Norwegian rig market to improve beginning in the second half of 2015 due to lower supply as it posted an unexpected quarterly net loss.
Remote, Gas-Rich Islands On Indonesia's South China Sea Frontline
Monday, August 25, 2014 The word "sleepy" could have been invented for Ranai, the largest town in Indonesia's remote and sparsely populated Natuna archipelago.

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Exploration

Santos to Commence Re-Entry Works at Mt Kitty Well in NT's Amadeus Basin
Wednesday, August 27, 2014 Santos plans to commence re-entry works to complete the evaluation of the Mt Kitty exploration well in permit EP 125 in Amadeus Basin, Northern Territory, Australia.
Australia's Northern Territory Government Awards EP145 to Trident Energy
Wednesday, August 27, 2014 Trident Energy receives the grant of permit EP145 in Australia's Northern Territory from the authorities, paving the way for Mosman Oil and Gas to acquire the firm.
Strike Energy Secures Block CO2013-B in South Australia's Cooper Basin
Wednesday, August 27, 2014 Strike Energy secures Block CO2013-B in South Australia's Cooper Basin exploration acreage released by the state government.
Statoil Abandons OzBeta-1 Well in Permit EP 127 in Northern Territory
Wednesday, August 27, 2014 Statoil abandons OzBeta-1 well in exploration permit 127 in Australia's Northern Territory after it failed to produce oil or gas.
Shell Makes Gas Find at Marjoram-1 Well in Block SK318 Offshore Sarawak
Tuesday, August 26, 2014 Shell makes a gas discovery at Marjoram-1 exploration well in deepwater Block SK318, offshore Sarawak, Malaysia.
OMV Completes Drilling at Whio-1 Well in NZ's PEP 51313, No Commercial Find
Tuesday, August 26, 2014 OMV New Zealand completes drilling operations at Whio-1 exploration well in permit PEP 51313 in the Taranaki Basin, offshore New Zealand without making a commercial discovery.
KrisEnergy Completes Drilling at Mancharee-1 Well in Gulf of Thailand
Tuesday, August 26, 2014 KrisEnergy completes drilling at Mancharee-1 exploration well in Block G10/48 in the Gulf of Thailand, but did not find any significant pay zones.
Key Petroleum Faces Mechanical Problem at Dunnart-2 Well in Perth Basin
Monday, August 25, 2014 Key Petroleum reports that a drill stem test tool encountered mechanical failure at Dunnart-2 well in EP437 in Perth Basin, Western Australia.
Metgasco in Out-of-Court Talks with NSW Government on PEL 16 Drilling Spat
Monday, August 25, 2014 Metgasco in discussions with the New South Wales (NSW) government on an out-of-court settlement over the suspension of an approval for the firm to drill in PEL 16 in northern NSW, Australia.
Swala Begins Seismic Survey Over Moshi Basin in Tanzania's Pangani Permit
Monday, August 25, 2014 Swala Energy commences 2D seismic data acquisition program over the Moshi Basin in the Pangani exploration license in northern Tanzania.

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Production

BG Finds More Gas Offshore Tanzania to Feed LNG Project
Wednesday, August 27, 2014 BG Group says encouraging results from its latest test drill offshore Tanzania increased chances to develop an onshore liquefied natural gas project in the country.
Positive Production Test Results Seen at Stanley-5 Well in PDL 10 in PNG
Wednesday, August 27, 2014 Horizon Oil reports positive production testing results at Stanley-5 development well in permit PDL 10 in Papua New Guinea.
Nido Updates on Reserves, Activities at Galoc Oil Field Off the Philippines
Wednesday, August 27, 2014 Nido Petroleum updates on reserves and activities at Galoc oil field in Service Contract 14 C1 offshore the Philippines.
Statoil at ONS: Aasta Hansteen Remains On Track for 3Q 2017
Tuesday, August 26, 2014 Statoil is currently employing 200 people in northern Norway to work on its Aasta Hansteen gas field development, where drilling is set to start in 2016.
Wood Group Kenny Secures Contracts from Petrobras
Tuesday, August 26, 2014 Wood Group Kenny secures two contracts, worth over $2 million, from Petrobras, including one for the pre-salt Lapa field off the south coast of Rio de Janiero.
Nexen Says North Sea Buzzard Oilfield Shut Again After Restart
Tuesday, August 26, 2014 Output from Britain's Buzzard oilfield has been stopped again after restarting over the long weekend, its operator Nexen says.
AWE Deepens Drilling at Senecio-3 in Perth Basin After Elevated Gas Shows
Tuesday, August 26, 2014 AWE drills deeper at Senecio-3 well in Permits L1/2 in Perth Basin, Western Australia after observing elevated gas shows.
First Oil Flows at CNOOC's Wenchang 13-6 Field in South China Sea
Tuesday, August 26, 2014 First production commences at CNOOC's Wenchang 13-6 oil field in the Western South China Sea.
Discoveries, Acquisitions Boost Pacific Rubiales Oil Resources 45%
Monday, August 25, 2014 Pacific Rubiales says its oil resources estimate from exploration blocks had risen 45% to 6.2 billion barrels of oil equivalent by the end of March versus its 2012 estimate.

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Finance and Investing

Drillsearch Raises Stake in Takeover Target Ambassador Oil & Gas to 60.13%
Wednesday, August 27, 2014 Drillsearch Energy raised its interest in Ambassador Oil & Gas to 60.13 percent.
Sources: Sinopec Planning $1.5B Hong Kong IPO of Oilfield Services Unit
Friday, August 22, 2014 Sinopec is planning a $1.5 billion Hong Kong initial public offering for its oilfield services unit in the first half of 2015, people familiar with the matter said.
Santos' Underlying 1H 2014 Net Profit Up 3% YOY to $240M
Friday, August 22, 2014 Santos posts an underlying first half profit of $240.3 million, 3 percent more than last year, with the gains due to an earlier start-up of the PNG LNG project.
Dolphin Sees Possible Start of Dividend after 3Q Report
Wednesday, August 20, 2014 Seismic survey vessel operator Dolphin may soon start paying dividends after an improvement in its earnings.
Gulf's Topaz Energy Gets $75M Investment from Standard Chartered PE
Wednesday, August 20, 2014 Oman's Renaissance Services says its unit Topaz Energy and Marine had secured a $75 million investment from Standard Chartered Private Equity.
Reach Energy Whets Investor Appetite for Malaysian SPACs
Friday, August 15, 2014 Reach Energy, set up by veterans in Malaysia's oil and gas industry, made its market debut in Kuala Lumpur after completing the country's largest-ever initial public offering by a special purpose acquisition company (SPAC.)
Triple Energy Inks MoU for BSP to Invest $6M in Firm's CSG Project in China
Thursday, August 14, 2014 Triple Energy inks memorandum of understanding with Blue Sky Power for the latter to invest up to $6 million in the firm and its coal seam gas project in China.

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Company Operations

Malaysia's Bumi Armada to Raise $633.8M with Rights Shares
Wednesday, August 27, 2014 Malaysian oil field services company Bumi Armada will raise $633.87 million by selling rights shares.
SBI Offshore Negotiates with ME-Chinese Consortium to Build 5 Jackups
Wednesday, August 27, 2014 SBI Offshore negotiates with a Middle East-Chinese consortium to build five jackups, possibly in a shipyard in China or Singapore.
New Firm, Origo Exploration, Launches at ONS
Tuesday, August 26, 2014 Origo Exploration, a new oil and gas company focused on the Norwegian and UK continental shelves, launches at the ONS show after having raised $525 million from investors.
Aker Solutions Says Engineering On Track For 2017 Cost Cut Of 30%
Tuesday, August 26, 2014 Aker Solutions Engineering Vice President Valborg Lundegaard says at ONS that his division is on track to cut costs by 30 percent by 2017.
Energy Project Delays Cut Petrofac Profit Nearly in Half
Tuesday, August 26, 2014 UK oilfield services company Petrofac reports a halving of first-half profits after being hurt by slow progress at some of its projects.
Otto Marine Bags $53M AHTS Charter Contracts for Work Offshore Australia
Tuesday, August 26, 2014 Otto Marine bags $53 million charter contracts to provide 2 anchor handling tug supply vessels for work offshore Australia.
Hallin Completes Replacement of Mooring Lines for FPSO HYSY111 in China
Tuesday, August 26, 2014 Hallin Marine completes replacement of mooring lines beneath the floating production, storage and offloading vessel HYSY111 in China.
Otto Marine Seeks to Raise Profile, Competitiveness of Subsea Services Unit
Monday, August 25, 2014 Otto Marine aims to develop the international profile and competitive position of its subsea services unit.

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