Total has started up production from the Moho Nord deep offshore project, located offshore the Republic of the Congo. Operated by Total, the project has a production capacity of 100,000 barrels of oil equivalent per day, according to a company statement. “Moho Nord is the biggest oil development to date in the Republic of the… Read more »
Monthly Archives: March 2017
Repsol Makes ‘Largest US Onshore Discovery in 30 Years’
Repsol and partner Armstrong Energy stated that they have made the largest U.S. onshore conventional hydrocarbons discovery in 30 years. The Horseshoe-1 and 1A wells drilled during the 2016-2017 winter campaign confirm the Nanushuk play as a significant emerging play in Alaska’s North Slope, Repsol said in a company statement. Contingent resources identified with the… Read more »
Amec Foster Wheeler Looking for Graduates in the UK
Amec Foster Wheeler revealed Tuesday that it is currently recruiting graduates in a number of disciplines in its Reading office in the UK. The oilfield services firm has encouraged the next generation of oil and gas workers to apply for mechanical engineering, electrical engineering, project control, quantity surveying, estimating and technical safety, health… Read more »
Trump Tax Cut May Save Oil Explorers $10 Billion, Boost Drilling
(Bloomberg) — The Trump administration’s plan to slash corporate tax rates could free up more than $10 billion a year for U.S. oil explorers, opening new opportunities to boost drilling at a time of uncertainty in the marketplace. Crude prices in New York have fallen 10 percent since the end of 2016 as added drilling… Read more »
Hammond Outlines Plans to Help North Sea Oil Industry in Budget
The Chancellor of the Exchequer Philip Hammond has outlined plans to help the North Sea oil and gas industry in his Spring Budget. Hammond has pledged to publish a discussion paper, and establish a panel of industry experts, to consider how tax can assist sales of oil and gas fields, helping to keep them productive… Read more »
OPEC, Non-OPEC Agreement Strives For Oil Price Stability
That fateful December meeting in Vienna between OPEC and non-OPEC nations could be even more consequential than cutting a couple million barrels of oil per day from the worldwide oil glut. It just might reconfigure the relationship between the countries that export oil and those that consume it, according to OPEC Secretary General Mohammad Sanusi… Read more »
Confidence Slowly Returning to UKCS
Confidence is slowly returning to the UK Continental Shelf (UKCS) following an intensive two-year drive to improve efficiency, streamline costs and boost productivity, according to Oil & Gas UK’s new Business Outlook Report (BOR). Domestic oil and gas production continues to rise and unit costs are improving, resulting in a more resilient and globally competitive… Read more »
ExxonMobil Gulf Initiative to Create 45,000 Jobs
Exxon Mobil Corp. is positioning itself for future growth and part of that will come from $20 billion worth of investments into the company’s Growing the Gulf initiative. Darren Woods CEO, ExxonMobil Through the initiative, which ExxonMobil CEO Darren Woods announced Monday during the CERAWeek conference in Houston, the company will invest $20 billion into… Read more »
