The industry has finally moved past years of “cautious optimism” to a less delicate approach. Oil and gas executives are largely optimistic about the 2019 outlook for the industry, reveal findings from a new Deloitte survey. According to Deloitte’s 2018 oil, gas and…
Panoro Energy has plans to use the CTF-4, a 2,000-horsepower onshore rig for the drilling of the Salloum West-1 well (“SAMW-1”) located in the Sfax Offshore Exploration Permit, offshore Tunisia. The oil company has signed a Heads of Terms for the supply of the…
The Chancellor of the Exchequer Philip Hammond has delivered the 2018 Autumn Budget, which included several points relevant to the UK oil and gas industry. The budget report outlined that the government is maintaining headline tax rates at their current level, which “will help…
Construction works have started for the 105-kiloometre (65-mile) offshore section of the Trans Adriatic Pipeline (TAP), with pipelay due to follow next year. TAP project director John Haynes said: “This is the first time for engineering works of such a scale and magnitude to…
Equinor has awarded a jacket contract for the processing platform for Johan Sverdrup phase 2 to Kværner. The contract value is around NOK 900 million (US$107 million). With this award Kvaerner will deliver the fourth substructure for the Johan Sverdrup field located offshore Norway,…
The shift to renewables by the giants of industry continues with the news that Coca-Cola Amatil will install 3.5MW of solar, to cut its grid power usage in Australia by 14 per cent and its annual energy costs by up to US$1.3 million. The…
Chesapeake Energy Corporation, Oklahoma City, has agreed to acquire WildHorse Resource Development Corporation in a US$4 billion deal, including net debt of US$930 million. Complimenting Chesapeake’s existing high margin Eagle Ford and Powder River basin positions, the deal adds 420,000 high margin net acres,…
Denbury Resources Inc will acquire Penn Virginia Corporation in a US$1.7 billion deal, the companies announced on the 28th October. For Denbury, which operates in the Gulf Coast and Rocky Mountain regions, the acquisition will give the company a new core position in the…
The semi-submersible Songa Enabler has completed the Skruis exploration well in licence PL532, eight kilometres (five miles) north of the Johan Castberg oil field in the Barents Sea. According to operator Equinor, results were positive with recoverable oil volumes estimated at 12-25 MMbbl. …
Oil company Total has received consent from Norway’s Petroleum Safety Authority (PSA) to use Skirne and Byggve fields off Norway beyond the originally planned operational life. Skirne, including the Byggve deposit, is in the central North Sea, 20 kilometres east of Heimdal. Skirne and…
