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RIL to auction 12 mmscmd gas from MJ Field
April 25, 2022
Source: Energy World

RIL to auction 12 mmscmd gas from MJ Field

“RIL’s deep-water field gas will come on stream this fiscal. We are planning to bid for the same when it comes for auction,” said the senior executive of a company that plans to participate.

5th Circuit revives BP’s fight over Deepwater cleanup workers’ claims
Jan. 20, 2022
Source: Reuters

5th Circuit revives BP’s fight over Deepwater cleanup workers’ claims

(Reuters) - A federal appeals court on Wednesday revived a fight between BP, two contractors and an insurance company over who should pay for thousands of personal injury claims brought by cleanup workers after the Deepwater Horizon explosion and fire in 2010. The 5th U.S. Circuit Court of Appeals reversed most of a lower court’s rulings for contractors National Response Corp and O’Brien’s Resource Management, and for O’Brien’s excess-liability insurer, Navigators Insurance Co.

Deep-water challenge: ONGC’s $5 billion Indian development delayed as key projects lag
Jan. 4, 2022
Source: Upstream

Deep-water challenge: ONGC’s $5 billion Indian development delayed as key projects lag

A flagship $5 billion-plus deep-water development project that India's state-owned Oil & Natural Gas Corporation’s (ONGC) is planning in the Krishna Godavari basin is facing fresh delays due to key projects running behind their planned execution. Several people familiar with the deep-water project told Upstream that ONGC’S KG-DWN-98/2 oil and gas development off the east coast that involves the Cluster-2 region is to be delayed by “several months". Four key projects that form part of the giant KG basin development are behind the delays, covering supply of central processing platform (CPP) with living quarters, a contract covering integrated subsea production system (SPS) and subsea umbilical riser and flowlines (SURF), a leased floating production, storage and offloading (FPSO) vessel and onshore processing facilities. Project watchers said that all four elements of the KG-DWN-98/2 developments are facing delays in the wake of coronavirus restrictions, engineering changes and project execution challenges.

Exxon walks away from stake in deepwater Ghana block
June 2, 2021
Source: world oil

Exxon walks away from stake in deepwater Ghana block

Exxon Mobil is pulling out of a deep-water oil prospect in Ghana just two years after the west African nation ratified an exploration and production agreement with the U.S. oil titan. The company relinquished the entirety of its stake in the Deepwater Cape Three Points block and resigned as its operator after fulfilling its contractual obligations during the initial exploration period.

Petrobras CEO nods to price parity, deepwater investment in market-pleasing speech
April 21, 2021
Source: Energyworld

Petrobras CEO nods to price parity, deepwater investment in market-pleasing speech

Joaquim Silva e Luna, the new chief executive of Brazil's Petrobras, will look to respect the company's current pricing policy and keep investing in deepwater assets, he said at his swearing-in ceremony on Monday.The comments by the former army general signaled that Petrobras' incoming administration will attempt to maintain some form of continuity with the policies of the previous administration, which generally won market plaudits.

Vantage Drilling to Operate Seadrill Rigs
March 23, 2021
Source: Rigzone

Vantage Drilling to Operate Seadrill Rigs

Units of Vantage Drilling International will manage, operate, and market four Seadrill Partners LLC deepwater floaters under a new framework agreement between the companies, Vantage reported toward the end of last week.

Equinor’s $5.2b Deepwater oil project
July 27, 2018
Source: Oil Price

Equinor’s $5.2b Deepwater oil project

Norwegian oil giant, Equinor has entered into an agreement with Canadian provinces for $5.2b to carry out a deepwater oil project offshore Canada’s east coast. The provinces of Newfoundland and Labrador are acquiring a 10% equity stake in the Bay du Nord project, expected to possess over 300 million barrels of high-quality crude oil. The project is estimated to generate $10.7b in economic activity and $2.7b in government revenues.

Shell announces deepwater oil discovery in Gulf of Mexico
May 25, 2018
Source: World Oil

Shell announces deepwater oil discovery in Gulf of Mexico

Shell Offshore has reported a huge deepwater revelation in the Norphlet geological play in the U.S. Gulf of Mexico with its Dover well, which represents their expertise in discovering new, commercial resources in a heartland with the focus on deepwater growth. This discovery is viewed as an alluring potential tie-back. The company anticipates its worldwide deepwater production to surpass 900,000 boed by 2020, from established areas.

Total to buoy up exploration efforts in South Africa as fuel network grows
May 7, 2018
Source: World Oil

Total to buoy up exploration efforts in South Africa as fuel network grows

French energy giant Total SA intends to bolster oil exploration and open more fuel stations in Africa’s most industrialized country, consequently enhancing its footprint in the region. In South Africa, the company plans to expand its network of more than 500 fuel stations and finish a deepwater exploration well commenced in 2014.

BP profit beats estimates despite debt
May 2, 2018
Source: World Oil

BP profit beats estimates despite debt

Even as the continuing burden of oil-spill payments pushed debt higher, BP reported the highest profit in years. The effects of two life altering events can be felt- BP is still paying its way through the fatal Deepwater Horizon catastrophe in 2010 and yet some benefits are beng observed from rising oil prices after a three-year industry downturn.

India-BP and Reliance announced sanctioning of Satellite Cluster project in KG D6
April 23, 2018
Source: World Oil

India-BP and Reliance announced sanctioning of Satellite Cluster project in KG D6

BP and RIL announced the sanctioning of the second of the three projects- Satellite cluster project- in Block KG D6. A total of about 3 Tcf discovered gas resources with a total investment of $6 billion is expected to develop out of these three projects phased over 2020-2022. Mukesh Ambani, chairman and managing director of RIL expressed his delight on the on-schedule progress of the project.

Total to commence drilling in deep-water oil well in Mexico block in October
March 26, 2018
Source: Reuters

Total to commence drilling in deep-water oil well in Mexico block in October

Total, the French oil major, is all set to begin drilling its first deep-water exploration well in a Gulf of Mexico block in October. Mexico’s National Hydrocarbons Commission has approved the plan. According to the energy ministry data, the 1,149 square mile block is believed to contain some 1,440 billion barrels of oil equivalent (boe). The reserve is composed of mostly light and extra light crude and natural gas.

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