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Egypt signs 4 oil, gas agreements with investments of $155M

December 26, 2019
| Archives

Egypt signed Wednesday four new agreements to search for oil and gas in the regions of Western Sahara, the Gulf of Suez and the Nile Valley, with a minimum investment of $155 million, and signature grants of about $10.5 million, including drilling 30 wells. Minister of Petroleum and Mineral Resources Tarek el-Molla emphasized the importance of signing new

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ExxonMobil discovers more oil off Guyana

December 26, 2019
| Archives

ExxonMobil has announced a new discovery off Guyana, adding to previous estimates of 6 billion barrels of recoverable oil equivalent. The Mako-1 well is located southeast of the Liza field which has just started producing oil. The well encountered approximately 50metres of “high-quality oil bearing sandstone reservoir†after being drilled in 1,620 metres of water. Mako-1, six miles from Liza,

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Apache and Total form a J.V. to develop offshore Suriname

December 24, 2019
| Archives

Apache Corp and French rival Total have formed a joint venture to develop a project off Suriname, the companies said, in a deal that gives the U.S. oil and gas producer a cash injection. Apache’s Suriname offshore prospect, near the border with South America’s newest oil giant, Guyana, is a long-shot for the U.S. company, with the Total

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KS Drilling awarded an extension for the Java Star

December 24, 2019
| Archives

KS Energy Limited refers to the announcements dated 21 December 2018, 22 February 2019 and 16 July 2019 in relation to a contract awarded for the KS Java Star 2 jackup drilling rig (the “Previous Announcementsâ€). Further to the Previous Announcements, the Directors wish to announce that a contract extension has been awarded. The expected value of the

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Seadrill awarded a multi-year contract for the West Phoenix

December 24, 2019
| Archives

Seadrill Limited has secured a multiple well contract with Vår Energy AS for the West Phoenix for work on the Balder re-development project in Norway. Total contract value for the firm portion of the contract is expected to be approximately $302 million with commencement expected at the end of 2Q 2021 and running through 3Q 2023. In addition

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Popular News – Top 5 from this past week!

December 24, 2019
| Weekly Rundown

We had 7k page views this past week and the top 5 grabbed up 4k of them, below are our top 5 articles for the week of Dec 16 – Dec 22! #1 with 2,806 views Devon Energy Sells Barnett Shale Assets for $770 Million #2 with 620 views Perenco cancels contract for the Maersk Resolute #3 with 477 views More work for

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Odfjell grabs more work for the Deepsea Atlantic

December 20, 2019
| Archives

Equinor has today exercised three new wells for Deepsea Atlantic. Furthermore, two additional wells are pending final approval by Equinor and its licensees. The wells have been exercised under the Continued Optionality mechanism in the Contract entered into between the parties in May 2018, as part of the overall Master Frame Agreement. The work shall commence after the

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More work for Pacific Drilling in updated fleet status report

December 20, 2019
| Archives

Pacific Drilling announced that Chevron has exercised the third option for the Pacific Sharav at a dayrate of $225,000. Full fleet status report can be found here: Pacific Drilling Image: Pacific Drilling- Bora Check out our other current stories! Aker BP exercises the first 12 month option for Deepsea NordkappMaersk Drilling sells the Completer to Shelf DrillingDevon Energy Sells Barnett

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Aker BP exercises the first 12 month option for Deepsea Nordkapp

December 18, 2019
| Archives

Aker BP has today exercised the first 12 month option for Deepsea Nordkapp under the Contract entered into between the parties in April 2018. The first 12 month option shall commence after expiry of the two year firm period in May 2021. The approximate contract value for the firm scope is USD 128 million (excluding any integrated services).

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