Frontera, CGX Energy sign Guyana joint venture agreement

Frontera Energy Corp. has signed a farm in agreement with CGX Resources Inc. for two shallow-water blocks offshore Guyana. Subject to governmental approval, Frontera will acquire a 33.33% interest in the Corentyne (1.125 million net acres) and Demerara (750,000 net acres) blocks in exchange for a $33.3-million signing bonus. Both blocks are adjacent to ExxonMobil […]

Environmental groups sue to stop Mid-Atlantic OCS seismic surveys

Nine environmental organizations have sued US Commerce Sec. Wilbur L. Ross and the National Marine Fisheries Service (NMFS) on Dec. 11 after NMFS issued incidental harassment authorizations on Nov. 30 to five contractors seeking to conduct the first seismic surveys since the 1980s for oil and gas on the US Mid-Atlantic Outer Continental Shelf. Source: […]

Eni starts up Vandumbu production offshore Angola

Vandumbu field started producing oil on deepwater Block 15/06 offshore Angola in November, 3 months ahead of schedule, reported operator Eni SPA. Production at Vandumbu field, along with the start-up of a subsea multiphase boosting system (SMBS) in early December, is boosting the oil production from Block 15/06 by 20,000 b/d via West Hub’s N’Goma […]

Oil find confirms potential of part of Block 15/06 off Angola

An oil discovery in the Afoxe exploration prospect offshore Angola is a further confirmation of the oil exploration potential still held in southern part of Block 15/06, previously considered mainly gas prone, operator Eni SPA said. The company plans to to drill as many as four exploration wells back-to-back on the block in 2019. Source: […]

Yamal LNG begins Train 3 exports

PAO Novatek has begun LNG exports from Train 3 of its Yamal LNG plant in Russia, reaching the site’s planned full capacity of 16.5 million tonnes/year. Novatek said it completed work on the 5.5-million tpy third train more than a year ahead of schedule. An additional 900,000-tpy train is under construction with startup planned for […]

MARKET WATCH: Crude benchmark prices drop in correction after OPEC

Crude oil benchmarks settled down by more than $1.60/bbl on Dec. 10 in a market correction to an initial surge in oil prices on Dec. 7 following news that the Organization of Petroleum Exporting Countries and 10 non-OPEC countries agreed to cut production by 1.2 million b/d. Source: News

China ZhenHua Oil buys interest in onshore concession from ADNOC

Abu Dhabi National Oil Co. (ADNOC) reported that a 4% stake in its onshore concession has been acquired by North Petroleum International Co. Ltd., a subsidiary of China ZhenHua Oil Co. Ltd. Previously, the stake was held by CEFC China Energy Co. Ltd. Source: News

Equinor granted drilling permit in North Sea

Equinor Energy AS has been granted a drilling permit by the Norwegian Petroleum Directorate for well 36/1-3 in production license 885 in the North Sea. The well will be drilled about 40 km east of the Peon discovery using the Transocean Spitsbergen semisubmersible drilling rig. Source: News

Virginia AG, DEQ sue Mountain Valley Pipeline over alleged violations

Virginia Atty. Gen. Mark R. Herring (D) announced that the state’s Department of Environmental Quality (DEQ) and Water Quality Board sued Mountain Valley Pipeline LLC (MVP) for alleged repeated environmental violations in five southwestern Virginia counties over the past year, particularly during major rain events. Source: News

Bakken, Guyana earmarked for 75% of Hess’s $2.9-billion budget in 2019

Hess Corp. will allocate some 75% of its $2.9-billion 2019 exploration and production capital and expenditure budget to high-return growth assets in the Bakken and in Guyana. Net production is forecast to average 270,000-280,000 boe/d in 2019, excluding Libya, compared with 245,000 boe/d in 2018. Bakken net production is forecast to average 135,000-145,000 boe/d in […]