Archive | Global and Regional Markets

Ocean Rig awarded extensions for two ultra-deepwater drillships

Posted on 20 October 2014 in Global and Regional Markets, News, The Offshore Frontier

Ocean Rig has been awarded extensions for its two ultra-deepwater drillships, the Ocean Rig Corcovado and the Ocean Rig Mykonos by Petrobras for drilling offshore Brazil…

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Eni signs two PSCs for offshore exploration in Vietnam

Posted on 15 October 2014 in Global and Regional Markets, News, The Offshore Frontier

Eni has signed two production-sharing contracts (PSCs) with Petrovietnam for the exploration of blocks 116 and 124, located off the coast of Vietnam…

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OneSubsea awarded contract for PEMEX Lakach deepwater development

Posted on 13 October 2014 in Global and Regional Markets, News, The Offshore Frontier

OneSubsea, a Cameron and Schlumberger company, has been awarded a subsea production systems contract totaling more than $270 million for the Lakach deepwater project…

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Shell starts oil production from Gumusut-Kakap deepwater platform in Malaysia

Posted on 08 October 2014 in Global and Regional Markets, News, The Offshore Frontier

Shell has started oil production from the Gumusut-Kakap floating platform off the coast of Malaysia, the latest in a series of Shell deepwater projects…

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5 principles to follow for reducing risk of anti-corruption violations

Posted on 08 October 2014 in Global and Regional Markets, News

In 2007, the US Department of Justice initiated an industry sweep targeting oilfield service companies, instigated by the government’s perceptions of the industry’s…

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Equipment ownership provision of Nigerian local content act may require industry’s immediate focus

Posted on 07 October 2014 in Global and Regional Markets, News

The Nigerian oil and gas industry has evolved significantly since 2010, spurred by the local content act. Whereas the country used to be dominated by IOCs and…

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Douglas-Westwood: Angola, Nigeria, Algeria key countries to lead African production growth

Posted on 07 October 2014 in Global and Regional Markets, News

Angola and Nigeria will continue to dominate the West African drilling market even as Equatorial Guinea and Ghana emerge as major deepwater players in the coming years…

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Statoil, Shell and Sonatrach to test shale acreage in Algeria

Posted on 30 September 2014 in Global and Regional Markets, News, Onshore Advances

Statoil and Shell were awarded the Timissit Permit License in the Illizi-Ghadames Basin onshore Algeria. The license is in southeastern Algeria and covers an area of 2,730 sq km…

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Rosneft discovers oil in Kara Sea

Posted on 29 September 2014 in Global and Regional Markets, News, The Offshore Frontier

Rosneft successfully completed the drilling of the Universitetskaya-1 well in the Arctic – the northernmost well in the world, according to the company, and discovered oil at the East-Prinovozemelskiy-1 license area…

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Eni awarded 3 new exploration licenses in Egypt

Posted on 25 September 2014 in Global and Regional Markets, News

Eni was the successful bidder of three new exploration licenses in Egypt as a result of the competitive 2013 EGPC and EGAS bid rounds. The new licenses will be formally awarded after the ratification…

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