Gas

Americas

Baron Oil makes unexpected discovery in Peru

23/10/2014

South American focused Baron Oil has won approval from state-owned Perupetro to convert its third work phase from seismic into a drilling obligation after additional hydrocarbon discoveries. The Peruvian oil and gas provider also approved the company’s Force Majeure (FM) clause, which will be invoked on Block Z-34 in the country.

Americas

Companies strike merger deal

23/10/2014

Donnycreek Energy has entered into an arm’s length agreement with Contact Exploration to merge and create a new corporation. The two companies will become Kicking Horse Energy and the merger will consolidate the interests of Donnycreek in Alberta, Canada.

Oil & Gas

BP awards contracts for $12billion LNG expansion

22/10/2014

Oil giant BP has awarded engineering contracts for its $12billion expansion of its Tangguh Liquefied Natural Gas (LNG) development in Indonesia. The contracts are for the onshore Front End Engineering and Design (FEED) to a number of partners including PT Tripatra Engineers and Contractors.

Australasia

BHP records 9% increase in production

22/10/2014

Australian oil and gas giant BHP Billiton has reported a 9% increase in production during its third quarter results for 2014. Petroleum production increased by 7% to 67.4MMboe (Million Barrels of Oil Equivalent) as onshore US liquids volumes rose by 49% to 11.5 MMboe.

Oil & Gas

BP strikes deal for EOR technology

21/10/2014

Oil giant BP has signed an agreement with Abu Dhabi’s offshore company ADMA-OPCO to develop a new technology for enhance oil recovery (EOR). Senior officials from the company recently visited BP’s EOR laboratory in Sunbury and research centre in Pangbourne.

Oil & Gas

Bad weather hampers work at oilfield

21/10/2014

Bad weather is continuing to hamper seismic recording by Greenfield Petroleum in the Gum Deniz oilfield in Azerbaijan. The company said conditions have affected work on a 3D survey over the field and the area recorded is now likely to drop to 100km due to the approaching winter season.

Oil & Gas

Speakers for Israel oil and gas conference confirmed

21/10/2014

Energy experts from across the globe will join forces in Israel for an oil and gas exhibition. The Universal Oil and Gas 2014 (UOG 2014) is expected to be the largest event of its kind in the country, and aims to create a platform for collaboration and partnership in the Israeli oil and gas industry.

Oil & Gas

University joins carbon capture partnership

21/10/2014

A Scottish university has joined the largest carbon capture and storage (CCS) research partnership in the UK. Scientists from the University of Strathclyde will join fellow researchers within the Scottish Carbon Capture & Storage (SCCS) partnership, providing expertise in areas including carbon dioxide transport and environment impact analysis.

Oil & Gas

Halliburton reports profit jump

20/10/2014

Oil giant Halliburton has boosted its income for the third quarter of the year by $1billion, which is an increase from the previous quarter. The company announced their total revenue of $8.7billion was up by 16% on the same time last year.

DOT

DOT: End of the “gold-plate” technology era

17/10/2014

A strategy manager for French-engineering company Technip said the “gold-plating” was coming off technology design in the oil and gas industry. Scott Campbell, strategy manager for the company’s UK business unit, said the market downturn would likely remain for the next year.

Oil & Gas

Petrofac nets $600million in profit for 2014

17/10/2014

International oil and gas facility service provider expects to make up to $600million in profit this year. The company said the past year had been its most successful for new awards, with an ECOM (Engineering, Construction, Operation and Maintenance) order intake of $9.4billion.

DOT

DOT: Deepwater to revitalise the North Sea

17/10/2014

The chief executive of oil and gas facilitator ITF said techniques used in deepwater could also be beneficial to the oil and gas industry in the North Sea. Dr Patrick O’Brien spoke on the final day of Deep Offshore Technology International 2014 (DOT) about the potential techniques which could be used to find more energy sources in the UKCS.

DOT

DOT: EOR potential could be realised in next five years

16/10/2014

The potential revenues which come from Enhanced Oil Recovery (EOR) will be realised by the oil and gas industry within the next five years, according to Industry team leader. Members of the industry gathered for the final day of Deep Offshore Technology International 2014 (2014) to discuss enabling technologies to maximise recovery.

DOT

DOT: ‘Industry’s back against the wall’

16/10/2014

Closing the skills gap could be a major step forward in solving the challenges in deepwater developments, according to an industry analyst. Richard D’Souza from Granherne/KBR said collaboration is needed between the oil and gas industry, governments and educational institutions to hire the right staff.