Home / Microsites / Global and Regional Markets (page 9)

Global and Regional Markets

Wood Mackenzie: Explorers’ success rates rise as ultra-deep and frontier basins deliver

default-img-featured-offshore5

Explorers achieved significant success in 2017 as companies emerged from the downturn leaner and more focused on making smart portfolio decisions. The industry has made a return to high-impact exploration in ultra-deepwater and frontier basins after a period of focusing on low-risk, low-reward activity. Oil accounted for 56% of discovered volumes, a share last seen in 2008, with eight out of the top 10 discoveries being oil weighted...

Read More »

Total enters exploration in Guyana Basin with three exploration licenses

default-img-featured-deepwater

Total has signed agreements to acquire interests into two exploration licenses offshore Guyana, the Canje Block and the Kanuku Block. These agreements come after entering into an option agreement for the nearby Orinduik Block. Subject to the approval of relevant authorities, Total will thus own exploration rights to an area covering over 12,000 sq km in the Guyana Basin...

Read More »

Deep Sea Mooring picks up Quadrant contract offshore Australia

deep-sea-mooring-picks-up-quadrant-contract

Deep Sea Mooring (DSM), a Vryhof company, has secured a contract with Quadrant Energy to provide turnkey pre-lay mooring solutions to the Transocean GSF Development Driller 1 semi-submersible drilling rig offshore Australia. The deal, a continuation of previous work for Quadrant Energy, begins in March 2018...

Read More »

Vantage Drilling announces contract for Topaz Driller

Vantage Drilling is mobilizing the Topaz Driller to work for Ophir in Thailand.

Vantage Drilling announced that it has entered into a contract with New Age Cameroon Offshore Petroleum for its premium jackup rig, the Topaz Driller, to perform drilling services in Cameroon for 150 days. “We are very pleased to announce this contract with New Age for the Topaz Driller in Cameroon,” said Ihab Toma, CEO of Vantage. “This contract will enable us to have two of our premium jackup rigs operating in West Africa after we mobilize the Topaz Driller from Asia to Cameroon. Our rigs and crews have proven and continue to prove to our clients that Vantage is a leader in safety and operational performance in the region. We look forward to commencing work for our esteemed client.”

Read More »

Shell announces large deepwater discovery in Gulf of Mexico

ShellLogo

Shell has announced one of its largest US Gulf of Mexico exploration finds in the past decade from the Whale deepwater well. The well encountered more than 1,400 net ft (427 m) of oil-bearing pay. Evaluation of the discovery is ongoing, and appraisal drilling is under way to further delineate the discovery and define development options. “Deepwater is an important growth priority as we reshape Shell into a world-class investment case,” said Andy Brown, Upstream Director for Royal Dutch Shell. “Today’s announcement shows how, through exploration, we are sustaining a strong pipeline of discoveries and future projects to sustain this deepwater growth.” Whale is operated by Shell (60%) and co-owned by Chevron (40%). It was discovered in the Alaminos Canyon ...

Read More »

Shell to sell stake in Thailand’s Bongkot field to PTTEP

ShellLogo

Shell Integrated Gas Thailand and Thai Energy Company, affiliates of Royal Dutch Shell, have agreed to an asset sale of their 22.2% interest in the Bongkot field and adjoining acreage offshore Thailand to PTT Exploration & Production Public Company (PTTEP) and PTTEP International, a wholly owned subsidiary of PTTEP, for a transaction value of $750 million. The transaction is expected to complete in Q2 2018, subject to completion conditions as prescribed in the agreement. The agreement is for Shell’s stake in blocks 15, 16 and 17 and Block G12/48. Following the completion of this transaction, PTTEP’s stake in Bongkot will increase to 66.7%, with the remaining 33.3% owned by Total. PTTEP is the current operator of Bongkot. Shell’s decision to ...

Read More »

Hess announces $2.1 billion for 2018 E&P capital and exploratory budget

hess

Hess has announced its 2018 E&P capital and exploratory budget will be $2.1 billion, the same as 2017. The 2018 budget allocates increased capital for continuing exploration and development activities offshore Guyana and for the Bakken, which includes growing the rig count from four rigs to six rigs. These increases are offset by lower capital allocated to the Gulf of Mexico and Malaysia compared to 2017...

Read More »