Field Development News


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Kuwait to Resume Oil Output in Area Shared With Saudis
Wednesday, January 22, 2020 Khafji was shut down in 2014 after a spat between the neighbors.

Oil Slides on Plentiful Supply
Tuesday, January 21, 2020 Oil fell below $65 a barrel as ample global supplies offset the loss of exports from Libya.

Libya Oil Production Plunges
Monday, January 20, 2020 Libya's eastern warlord kept virtually all of the nation's oil fields shut in a show of defiance after world leaders failed to persuade him to sign a peace deal.

SNC-Lavalin Wins UAE Haliba Field Contract
Monday, January 20, 2020 Execs from the Al Dhafra joint venture commemorate first oil from the Haliba field in this ADNOC photo from July 2019. PHOTO SOURCE: ADNOC

New Offshore Investment Cycle in the Making
Wednesday, January 15, 2020 Telltale signs have emerged that we are entering a new offshore investment cycle, according to Rystad Energy.

Tullow to Take $1.5B Charge
Wednesday, January 15, 2020 Tullow Oil expects to take a charge of $1.5 billion when it reports 2019 results.

CNOOC Budgets Capex of Up To $13.7B in 2020
Tuesday, January 14, 2020 CNOOC Limited's total capital expenditure for 2020 is budgeted at $12.31 billion to $13.76 billion, the company has revealed.

Lekoil Sinks After Falling Victim to Alleged Scam
Tuesday, January 14, 2020 Lekoil sank to a record low in London trading after falling victim to an alleged scam.

SIA Bags Very Large Sangomar Contract
Monday, January 13, 2020 Subsea 7 has announced the award of a 'very large contract' by Woodside to Subsea Integration Alliance for the Sangomar Field Development Phase-1 project offshore Senegal.

Norway Arctic Oil Vision Suffers Another Blow
Monday, January 13, 2020 Norway's vision of establishing a new major oil province off its northern tip has suffered another blow.

PE Boss Says Shale Will Deliver Returns This Year
Friday, January 10, 2020 This is the year when shale drillers are finally going to deliver solid returns to investors that have grown weary of the industry's decade-long cash burn, the head of explorer Parsley Energy Inc. said.

2020 Will Be Noteworthy for North Sea
Friday, January 10, 2020 This year will be noteworthy for the North Sea, according to Wood Mackenzie.

Providence Resources Appoints New CEO
Friday, January 10, 2020 Providence Resources announces that Alan Linn has been appointed chief executive officer of the company with immediate effect.

Energy Hedge Fund Is Bullish on Canada
Friday, January 10, 2020 After big wins shorting U.S. shale companies last year, one energy hedge fund is turning its sights on the beaten-down Canadian oil sector.

BP and Premier Oil in $625MM North Sea Deal
Tuesday, January 07, 2020 BP has agreed terms to sell its interests in the Andrew area, and its non-operating interest in the Shearwater field, to Premier Oil for $625 million.

Delek and Partners Achieve First Gas Offshore Israel
Tuesday, December 31, 2019 A trio of E&P companies have begun natural gas production from the Leviathan field located offshore Israel.

Saipem Bags Drilling Deals Worth $1.7B
Friday, December 27, 2019 Saipem's onshore and offshore drilling divisions have been awarded new contracts, and extensions to existing contracts, worth approximately $1.7 billion.

NLNG Expansion Project Gets Green Light
Friday, December 27, 2019 Eni and its partners in Nigeria LNG have taken the final investment decision for the expansion project of the LNG plant.

Offshore Drilling Poised for an Upswing in 2020?
Friday, December 27, 2019 Increasing interest in offshore drilling owes much to the industry's success in reducing costs by between 30-40 percent and increasing productivity.

Sembmarine Bags Two Deals Worth $400MM+
Thursday, December 26, 2019 Sembcorp Marine Offshore Platforms Pte. Ltd. clinches two offshore platform contracts worth over $405 million.

Hamm Invites Warren on Tour of Shale Heartland
Friday, December 20, 2019 Billionaire wildcatter Harold Hamm invited Elizabeth Warren to the Oklahoma oil patch as the U.S. Democratic presidential candidate proposes a ban on fracking if elected.

Leviathan Gas Venture Hits a Road Block
Thursday, December 19, 2019 Delek and Houston-based Noble were planning to start pumping gas to the local market within the coming days.

US Energy Sec Shrugs Off Permian Oil Slowdown
Wednesday, December 18, 2019 The golden age of U.S. shale is far from over, with an expected slowdown in the Permian Basin likely to be temporary, according to the new U.S. Energy Secretary.

WPX Energy to Buy Felix Energy for $2.5B
Tuesday, December 17, 2019 Independent energy producer WPX Energy will purchase Felix Energy for $2.5 billion.

Equinor Signs Global Deal with ABB
Tuesday, December 17, 2019 Equinor’s new Aasta Hansteen platform. Photo by Roar Lindefjeld and Bob B. Randulff. Photo copyright Equinor.

Global Upstream Investment to Dip in 2020
Friday, December 13, 2019 Overall global upstream investments will decrease by around four percent in 2020, according to the latest forecast by Rystad Energy.

Pipeline-Starved Canadian Energy Shines
Friday, December 13, 2019 Canadian energy firms have quietly outperformed their U.S. counterparts this year.

Schlumberger Unit Wins Anchor Subsea Contract
Friday, December 13, 2019 OneSubsea will provide a subsea production system rated up to 20,000 psi. IMAGE SOURCE: Schlumberger

Var Energi Closes Exxon Deal
Thursday, December 12, 2019 Var Energi has confirmed that its acquisition of ExxonMobil's upstream business in Norway has completed.

Norway Oil Lobby Raises Spending Forecasts
Thursday, December 12, 2019 Norway's oil lobby raised the investment forecast for the country's offshore industry for the coming years.

Genesis, Murphy Team up in GOM
Thursday, December 12, 2019 Genesis Energy is partnering with Murphy E&P and other interest owners to provide downstream transportation services in the Gulf of Mexico.

Talos Splashes $640MM on US GOM Assets
Wednesday, December 11, 2019 Talos Energy has entered into a series of definitive agreements to acquire a portfolio of U.S. Gulf of Mexico assets for $640 million.

Equinor Starts 3rd UK Development in 2019
Tuesday, December 10, 2019 Equinor has started its third UK upstream development in 2019 - Barnacle.

Aker Energy CEO Resigns
Tuesday, December 10, 2019 Aker Energy's board of directors has named Svein Jakob Liknes as acting chief executive officer following the decision by Jan Arve Haugan to resign.

23-Well Offshore Senegal Plan Nears Final Decision
Tuesday, December 03, 2019 The initial Sangomar Field Development phase could achieve first oil in early 2023.

Brazil Aiming to Double its Oil Production
Friday, November 29, 2019 Future expansion depends on access to capital, high-end tech from foreign investors and big oil companies with deepwater and pre-salt expertise.

Libyan Fighting Flares Near Key Oil Field
Wednesday, November 27, 2019 Fighting flared around the El Feel oil field in southwestern Libya.

Exxon Awards Valaris 21-well GOM Contract
Tuesday, November 26, 2019 Offshore drilling contractor Valaris plc reported late Monday that it has won a 21-well contract with ExxonMobil Corp.

Petrobras on Track to Become Largest Oil Producer
Wednesday, November 20, 2019 Petrobras is on track to become the world's largest oil producer among publicly listed companies by 2030, according to Rystad Energy.

Tullow Falls Most in 21 Years
Wednesday, November 13, 2019 Tullow Oil Plc fell the most in two decades in London trading after saying it's reassessing the commercial viability of discoveries in Guyana.

Ithaca Completes $2B Chevron North Sea Deal
Monday, November 11, 2019 Ithaca Energy Limited announced Monday that it has completed its $2 billion acquisition of Chevron North Sea Limited.

Fracking Could Revive Colombia's Oil and Gas Game
Thursday, November 07, 2019 Fracking could give Colombia's oil industry a new lease on life.

Brazil's Largest Ever Oil Auction Flops
Wednesday, November 06, 2019 State-controlled Petrobras did most of the bidding while other major oil companies stayed away.

US Daily Oil Output Growth Could Fall from 440K to Nil
Wednesday, November 06, 2019 Welcome to the new era of moderation for shale producers.

Years of Offshore Investments Could be Valueless
Thursday, October 31, 2019 Years of offshore investments could be valueless, according to Rystad Energy.

TechnipFMC Wins Woodside Subsea Contract
Friday, October 18, 2019 The EPCI contract corresponds to the Pyxis and Xena field developments.

Deepwater Transformation Sparking New Interest
Thursday, October 17, 2019 Changes have revived interest in deepwater projects and enabled new ones in regions including the North Sea, the Gulf of Mexico and China Seas.

Argentina Primed for Great Natural Gas Rise
Wednesday, October 16, 2019 There are interesting opportunities for shale development in Argentina, and they're pretty promising for natural gas.

BP Awards Three Caspian Contracts
Friday, October 04, 2019 BP has awarded three new contracts for the development of the ACG oil and gas field offshore Azerbaijan.

Onshore Timor-Leste Drilling to Start in Early 2020
Tuesday, September 24, 2019 Hong Kong-based firm to mobilize rig.