Bocks are those where the initial term (normally x years) has expired and there has been no drilling for a period of y years and no dedicated seismic or other significant activity for a period of z years;...
(Bloomberg) The latest mission by OPEC and its partners to contain an oil glut is entering its most critical phase.
Saudi Arabia, Russia and other major crude exporters struggled to keep a surplus in check over the past six months...
(Argus) The US will extend by three months Chevron's exemption from sanctions targeting Venezuela's oil sector.
Chevron and oil field service providers Halliburton, Schlumberger, Baker Hughes and Weatherford will have until 27 October to wind down business in Venezuela, the...
(Offshore Energy) Japan’s Inpex has reached an agreement with Anadarko Petroleum to acquire a 40 percent participating interest in Keathley Canyon blocks 921 and 965 as well as Walker Ridge blocks 881 and 925 in the U.S. Gulf of...
Saipem has been awarded new contracts in offshore drilling in Romania and Abu Dhabi worth over 160 million USD.
According to one contract, the company will drill a well in Romania’s Black Sea waters, expectedly in the fourth quarter of...
Guyana's Opposition Leader Bharrat Jagdeo believes the South American country needs to alter the terms of future Production Sharing Agreements (PSAs) to maximize benefits for all Guyanese, but says this must be balanced against investor returns.
“They will be...
Rising produced water volumes and expanding costs pose a significant risk to production growth in the Permian basin, Ryan Duman, Senior Analyst at Wood Mackenzie, told delegates at the Unconventional Resources Technology Conference (URTeC) in Denver.
Amid low breakevens and...
UK-based Tullow Oil and its joint venture partners are gunning for a drill campaign at a Suriname wildcat in 2020. The company said this week that is has interests in three blocks in Suriname; Blocks 54, 62 and 47.
“Following...
Guyana and the United Kingdom (UK) have been working towards the development of the South American country’s Maritime Economy Plan since 2016, and the mechanism being used to push the Plan is the Commonwealth Marine Economies Programme (CMEP).
CMEP, in...
UK-based data analytics and consulting company GlobalData and a Guyanese Economist both say the scope for an upward adjustment in the royalty rate under Guyana’s current model Production Sharing Agreement is limited and warns that increasing this beyond a...
