JKX Oil and Gas has seen potential gas signs at the Elizavetovskoye field in Ukraine. The company said the testing of well E-303 had indicated a gross pay of 167 metres, spread over eight reservoir horizons.
French oil giant Total said it will continue to "move froward" following the death of chief executive officer Christophe de Margerie.
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.
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.
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.
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 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.
A rig owned by Norwegian driller Songa offshore has suffered failure on one of its four engines, while undergoing survey work in Scotland.
Tethys Petroleum will face a shareholders vote to remove the majority of its directors, the company has announced. An Extraordinary General Meeting (EGM) of the company will be held after the board received a requisition on behalf Pope Management LLC.
Gas talks between Russia, Ukraine and the European Union will be held in Brussels later this month. The Russian Ministry of Energy made the announcement after a prolonged period of US and European sanctions were imposed on the country.
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.
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.
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.
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.
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.
The boss of an independent oil and gas company said deep water production of oil and gas could triple by 2040. Jarand Rystad, managing director of Rystad Energy, was speaking at the Deep Offshore Technology International 2014 (DOT) about rising costs in finding energy resources.
Young oil and gas workers have been invited to an industry first event which will focus on ‘soft skills’ which could help them succeed. Skills including networking, communication and presentation skills will be discussed by members of three of the oil and gas industry’s professional societies.
Lundin Petroleum has spudded an exploration well in the Gobi prospect within the Natuna Gas field, near Indonesia. The Gobi-1 is a wildcat exploration well designed to test the hydrocarbon potential of Oligocene and Miocene stacked fluvial reservoirs in the Jemaja Basin.
European-focused Sound Oil has won two gas sales contracts for fields in Italy, the company has announced. The upstream oil and gas group has been awarded the contracts in relation to the Badile drill site.
Oil and gas operators have forecast decommissioning expenditures will cost £1.5billion every year for the next decade. Oil and Gas UK has launched its annual Decommissioning Insight which is the leading industry forecast for activity and expenditure on the UK Continental Shelf (UKCS).
Lee Tillman, chief executive officer of Marathon Oil told investors last month that the company was sitting on the equivalent of 4.3 billion barrels in its US shale acreage. That number was 5.5 times higher than the one Marathon reported to federal regulators. Such discrepancies are rife in the US shale industry. Drillers use bigger forecasts to sell the hydraulic fracturing boom to investors and to persuade lawmakers to lift the 39-year-old ban on crude exports. Sixty-two of 73 US shale drillers reported one estimate in mandatory filings with the Securities and Exchange Commission while citing higher potential figures to the public, according to data compiled by Bloomberg. Pioneer Natural Resources' estimate was 13 times higher. Goodrich Petroleum's was 19 times. For Rice Energy it was almost 27-fold.
Technology and skills provider Atlas Knowledge has created a system to manage and track the competence of employees in the oil and gas industry. The Competency Assurance Management System (CAMS) was developed with expertise from a industry advisory group of 100 people.
German oil and gas producer Wintershall has awarded FMC Technologies its first subsea contract for the Maria development in the North Sea. The contract is worth $280 million and will be completed by FMCs subsidiary FMC Kongsberg Subsea AS.
The cost for operators to decommission rigs in the North Sea is expected to cost around £10 billion in the next eight years. Acteon company, Claxton, has created an infographic showing all the costs involved with decommissioning in the region.
Dubai-based explorer Dragon Oil has proposed a £492 million cash offer to Petroceltic International to add exploration and output in North Africa and Kurdistan. The Board of Petroceltic said it was in discussions with the company, who have proposed a £2.30 offer per share.