Field Development News

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Turkey Resumes Offshore Exploration
Friday, August 07, 2020Turkey resumed oil and gas exploration in the Mediterranean Sea days after the government said it would delay offshore surveys to seek a diplomatic resolution with Greece.

Exxon Says 20 Percent of Reserves Threatened
Thursday, August 06, 2020Exxon Mobil Corp. warned that low energy prices may wipe as much as one-fifth of its oil and natural gas reserves off the books.

Canada Oil Sands Output Poised for 41 Percent Increase
Thursday, August 06, 2020IHS Markit anticipates that Canada's oil sands production will grow by nearly 1.1 million bpd.

Permian Execs Signal Milestone
Tuesday, August 04, 2020America's most prolific shale drillers are accepting a fate once anathema to an industry obsessed with growth.

Site Works Start at Wressle
Monday, August 03, 2020Egdon Resources revealed that site works have now commenced at the onshore UK Wressle oil field development.

Total Gabon Sells Assets for up to $350MM
Friday, July 31, 2020Total Gabon has signed an agreement with Perenco to divest its interests in several assets for up to $350 million.

Petrofac Wins Contract for 25 UKCS Wells
Thursday, July 30, 2020Petrofac reported Wednesday that its EPS unit has won a two-year contract from NEO Energy. PHOTO SOURCE: Petrofac

Production Starts from Egypt Oil Discovery
Wednesday, July 29, 2020Eni S.p.A. reported Tuesday an oil discovery in the South West Meleiha Concession in Egypt’s Western Desert.

ADNOC Adds Chinese Firm to Offshore Concessions
Tuesday, July 28, 2020The above image shows the Umm Shaif concession. PHOTO SOURCE: ADNOC

Eni Ups Potential of Vietnam Discovery
Tuesday, July 28, 2020Ken Bau 2X hit more than 361 feet of pay in several intervals.

CNOOC Starts Production from Luda Project
Wednesday, July 22, 2020CNOOC Limited has announced that the Luda 21-2/16-3 regional development project has started production.

Trident Buys 10 Concessions from Petrobras
Thursday, July 16, 2020Trident Energy has closed the acquisition of the Pampo and Enchova clusters offshore Brazil from Petrobras.

McDermott Bags Large Refinery Contract
Wednesday, July 15, 2020McDermott has been awarded a 'large' engineering and procurement contract by Azikel Petroleum.

Weatherford Signs 20-well Iraq Contract
Tuesday, July 14, 2020Weatherford International reported late Monday that it has signed an 18-month contract with Iraqi Drilling Co. (IDC).

$463MM Deal to Boost Iran Oil Field Output
Monday, July 13, 2020Iran's Persia Oil and Gas Industry Development Co. signed a $463 million agreement with state-run National Iranian Oil Co. to operate and further develop Yaran oil field.

$8B Pipeline Cancellation Imperils Appalachia Rebound
Friday, July 10, 2020To understand why the cancellation of the $8 billion Atlantic Coast Pipeline was such big news, consider America's most important natural gas-producing region.

Rystad Sees Speedy FPSO Comeback
Thursday, July 09, 20202021 should mark a recovery period for FPSO contract awards, Rystad Energy predicts.

Equinor Contracts Odfjell Rig for Up to 17 Wells
Wednesday, July 08, 2020Odfjell's Deepsea Atlantic semi-sub, above, will return to Johan Sverdrup. Photo by Marit Hommedal. PHOTO SOURCE: Equinor ASA

Saipem Bags $325MM Petrobras Contract
Monday, July 06, 2020Saipem revealed on Monday that it has been awarded a contract by Petrobras worth approximately $325 million.

Offshore Norway Project to Use Pioneering Tech
Wednesday, July 01, 2020Aker BP awarded Subsea 7 a contract for the Hod Field Development Project in the North Sea. IMAGE SOURCE: Subsea 7

Deepwater GOM Project Gets Green Light
Tuesday, June 30, 2020LLOG Exploration Offshore has sanctioned its Taggart discovery and finalized development plans for the deepwater Gulf of Mexico field.

UK Council and OGTC to Help Develop Energy Hub
Thursday, June 25, 2020Shetland Islands Council has agreed to work together with the Oil and Gas Technology Centre to help develop an energy hub concept.

Aker BP and Pandion Submit Plan for $600MM Hod Project
Thursday, June 25, 2020The original Hod platform, pictured above, will be removed in conjunction with the project. PHOTO SOURCE: Aker BP

FAR in Default on Senegal Project
Thursday, June 25, 2020On top of the default announcement, FAR also revealed more job losses and executive pay cuts.

TechnipFMC Bags Multi-Million Dollar Equinor Deals
Tuesday, June 23, 2020Equinor has awarded two contracts, and issued a letter of intent, to TechnipFMC.

Allseas Removes 17K Ton North Sea Shell Platform
Tuesday, June 23, 2020Shell's 17,000 ton Brent Alpha platform in the North Sea has now been removed.

Continental Switching Gears on Production Curtailments
Monday, June 22, 2020But the comeback will be gradual.

Black Stone Minerals, XTO Ink Shelby Trough Agreement
Tuesday, June 16, 2020The agreement allows for royalty relief on 13 existing DUCs if XTO completes and turns the wells to sales by March 31.

Equinor, Aker BP Set Terms for Norwegian Shelf Development
Monday, June 15, 2020Equinor and Aker BP have agreed on commercial terms for a coordinated development of the Krafla, Fulla and North of Alvheim licenses.

Neptune Reports North Sea Permit Win, Executive Update
Monday, June 15, 2020The company has plans for two new wells and the role of VP of Exploration and Development is changing.

CNOOC Starts Production at Qinhuangdao 33-1S
Friday, June 12, 2020The oilfield is in central and western Bohai with an average water depth of 21 meters.

Kvaerner Bags $100MM+ Aker BP Deal
Tuesday, June 09, 2020Kvaerner revealed Tuesday that it has been awarded a contract by Aker BP to deliver the topside and steel substructure for the normally unmanned wellhead platform at the Hod field.

Aker Energy Eyes Offshore Ghana Options
Monday, June 08, 2020Aker Energy reported that it remains on course to find a way to launch the phased development of the Pecan field offshore Ghana.

KrisEnergy Suspends Oil field and Cuts Staff
Thursday, June 04, 2020KrisEnergy revealed Wednesday that production at its operated Wassana oil field in Thailand has been suspended until further notice.

GWA JV Gets Lincoln Extension from OGA
Wednesday, May 27, 2020The UK Oil & Gas Authority has extended the deadline for the commencement of the GWA joint venture's commitment well on the Lincoln subarea of license P1368 to June 30, 2022.

Exxon Buys Offshore Suriname Stake from Petronas
Wednesday, May 20, 2020Petronas has completed the sale of a 50 percent stake in Block 52 offshore Suriname to ExxonMobil.

US Shut-Ins Could Reach 2MMBPD in June
Thursday, May 14, 2020Gross U.S. production cuts could reach two million barrels per day in June, according to Rystad Energy.

IEA Sees Oil Market Improving
Thursday, May 14, 2020The outlook for global oil markets has 'improved somewhat', according to the International Energy Agency.

Petrobras Makes New Discoveries
Wednesday, May 13, 2020Petrobras revealed this week that it has made two new discoveries offshore Brazil.

Petrofac Secures New BP Contracts
Tuesday, May 12, 2020Petrofac revealed Tuesday that BP has awarded the company a new four year metering contract and a three year extension to its existing maintenance contract.

Oil Execs Urge Norway to Revise $10B Package
Friday, May 08, 2020Two of Norway's most influential oil executives asked the government to change a tax proposal that is meant to boost investment.

Oil Expected to Reach $100 Again
Friday, May 08, 2020Here are some of Rigzone's top stories during the last week, just in case you missed them...

Oil Anchored Near $24 on Lingering Glut Concerns
Thursday, May 07, 2020Oil was anchored near $24 a barrel after halting a five-day rally.

Vaca Muerta Development Teeters on Virus
Wednesday, May 06, 2020The rush to develop Argentina's giant Vaca Muerta shale field was already wobbling when the Covid-19 pandemic struck.

Total Targets Carbon Neutrality in 2050
Tuesday, May 05, 2020Total SA set out bolder commitments to eliminate most of its carbon emissions by 2050, while curbing spending on oil and gas projects due to the crude-price slump.

Conoco Updates Voluntary Cut Volumes
Friday, May 01, 2020ConocoPhillips estimates its voluntarily production cut in May will amount to 265,000 barrels of oil per day gross.

Oil Fields Facing Disorderly Shutdowns Despite OPEC+ Cuts
Thursday, April 30, 2020The IEA says some oil fields are set to suffer chaotic stoppages despite efforts by OPEC+.

Global E+P Revenues to Fall by $1 Trillion
Thursday, April 30, 2020Global exploration and production revenues will fall by about $1 trillion this year, according to Rystad Energy.

Aminex Petroleum Wins Extension on Mtwara License
Tuesday, April 28, 2020The next phase will further de-risk the 763 billion cubic feet of 2C resources at the Ntorya field.

Maersk Drilling Loses Contracts
Friday, April 24, 2020Here are some of Rigzone's top stories during the last week, just in case you missed them...