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Italian oil giant Eni said Tuesday it had made a significant oil discovery on the Eban exploration prospect in CTP Block 4, offshore Ghana. The Eban - 1X well is the second well drilled in CTP Block 4, following the Akoma discovery. Preliminary estimates place the potential of the Eban–Akoma complex between 500 and 700... Continue Reading →
TechnipFMC has secured its first integrated engineering, procurement, construction and installation (iEPCI) contract with Tullow Oil for the Jubilee South East development offshore Ghana. The contract covers supply and offshore installation of all major subsea equipment, including manifolds and associated controls, flexible risers and flowlines, umbilicals, and subsea structures. The company said it had utilized... Continue Reading →
(Reuters) - Royal Dutch Shell (RDSa.L) will boost returns to shareholders via share buybacks or dividends earlier than expected after a sharp rise in oil and gas prices helped it reduce debt, the Anglo-Dutch energy firm said on Wednesday. Shell will increase its distribution to shareholders to 20% to 30% of cash flow from operations beginning in... Continue Reading →
Just days after a video of a massive ocean surface blaze near a Pemex oil platform in the Gulf of Mexico went viral, Mexico's national oil company has declared that environmental damage was avoided due to quick action by its workers. The July 2 blaze, caught on video apparently from a nearby helicopter, showed bright... Continue Reading →
Mexico chose state-owned Pemex to run a major shared oil find over the private consortium led by a U.S. oil company that first discovered it, in the latest win for President Andres Manuel Lopez Obrador's nationalistic energy policies. The disputed deposit, believed to hold some 700 million barrels of oil, is thought to straddle two... Continue Reading →
Brazilian oil and gas company Enauta has stopped production at two of its three wells in the Atlanta field, located in Block BS-4 offshore Brazil. Enauta said on Monday that production from its Atlanta field offshore Brazil was affected by a failure in the pumping system at two wells. According to the information provided by... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras, following up on the release disclosed on June 30, 2021, informs that it signed today with the company Petromais Global Exploração e Produção S.A. (Petro+) the agreement for the sale of the totality of its stake in a set of seven onshore and shallow water concessions denominated Alagoas Cluster, located... Continue Reading →
Russian oil company Lukoil has agreed to acquire a 50% operator stake in the Area 4 project offshore Mexico. The transaction value is $435 million-plus expenditures incurred in 2021 as of the transaction completion date. The completion of the transaction is subject to certain conditions, including approval by the Mexican authorities. The project includes two... Continue Reading →
(OE) ExxonMobil's Jabillo-1 offshore well in Guyana's Canje Block has reached the planned target depth, however, without finding evidence of commercial hydrocarbons, Exxon's partners in the block said Monday. The Jabillo-1, drilled by the Stena Carron drillship will now be plugged and abandoned. The Jabillo-1 well was drilled to test Upper Cretaceous reservoirs in... Continue Reading →
(Bloomberg) --Oil majors are gearing up to explore off the coast of Colombia, offering hope to a country struggling to reverse declines in reserves and output of its biggest export. Royal Dutch Shell Plc is planning to drill this year in the Caribbean, while Exxon Mobil Corp., Repsol SA and state-controlled Ecopetrol SA will follow... Continue Reading →
Brazil Energy Insight 