The Peregrino Phase II field development will access new acreage out of reach of its current two wellhead platforms and floating production, storage, and offloading vessel. The contract was let in June 2016 (OGJ Online, June 28, 2016). According to Heerema Fabrication Group, the 8-legged jacket will include a wellhead platform with a drilling unit… Read more »
Posts Categorized: Uncategorized
Nigerian Oil Workers Extend ExxonMobil Strike To Chevron, Agip And Shell
ONITSHA, Nigeria, May 16 (Reuters) – Nigerian workers from an oil labour union have extended a strike to oil majors Chevron , Shell and Eni subsidiary Agip in protest over the sacking of members from Exxon Mobil Corp , the union’s general secretary said on Tuesday. Nigerian labour unions have held a number of strikes… Read more »
Labour Party Pledges to Safeguard Offshore Oil Industry Jobs
The UK Labour party has pledged to safeguard the offshore oil and gas industry and ban fracking in its 2017 manifesto, released Tuesday. In order to protect the former sector, Labour said it will “provide a strategy focused on protecting vital North Sea assets, and the jobs and skills that depend on them”. The reason… Read more »
In Fight Against US Shale Oil, OPEC Risks Lower for Longer
(Bloomberg) — When Khalid Al-Falih arrived at Davos in late January, the Saudi oil minister was exultant. The output cuts he’d painstakingly arranged with fellow OPEC states and Russia were working so well, he said, they could probably be phased out by June. Almost five months later, U.S. production is rising faster than anyone predicted… Read more »
How Can Oil, Gas Firms Manage Talent Better?
Following an industry downturn that – by at least one account – led to a 400,000-plus reduction in the global oil and gas headcount, there are signs of a hiring rebound in some corners of the industry. The phrase “talent squeeze ” has even crept up on Rigzone in recent weeks. For many who have… Read more »
Saudi Aramco to Cut June Oil Supply to Asia by About 7 mln Barrels
NEW DELHI, May 9 (Reuters) – Saudi Aramco will reduce oil supplies to Asia by about 7 million barrels in June, a source said on Tuesday, as the oil giant cuts output as part of global supply pact and trims exports to meet rising domestic demand for power during hot summer months. An OPEC-led agreement… Read more »
All Washed Up? Shale Oil and Gas Drowns Out US Gulf of Mexico Shallows
Short-term contracts, dismantled infrastructure and lagging dayrates have long challenged shallow water drilling on the U.S. side of the Gulf of Mexico – but it’s the natural gas-belching shale plays that may finally turn the tide away from the shelf. In January 2007, there were 82 jackup rigs drilling in the shallow water of the… Read more »
Exxon, Petrobras Said to Hold Talks on Wide-Ranging Partnership
(Bloomberg) — Exxon Mobil Corp. and Petrobras have held talks on a strategic partnership that could involve multiple assets in Brazil and overseas in different segments of the industry, similar to the $2.2 billion deal signed with Total SA in December, said people familiar with the conversations. Such a deal could give Exxon access to… Read more »
New Investment Crucial to Keep Deepwater US GOM Production Afloat
Efficiency and historic investment in legacy U.S. Gulf of Mexico (GOM) deepwater fields are flooding inventories this year, but along with the rig count, deepwater investment there continues to plunge. “The CAPEX number for 2017 is going to be pretty flat,” said Imran Khan, senior research manager for GOM deepwater at Wood MacKenzie (WoodMac). “There… Read more »
OPEC Runs Out of Options as Bid to Boost Oil Price Fizzles
(Bloomberg) — OPEC’s plan to boost oil prices by cutting production has fizzled, yet it has little choice but to stick with it. Crude has surrendered all of its gains since the Organization of Petroleum Exporting Countries first agreed production cuts in November. While the group has implemented the curbs, a rebound in U.S. shale… Read more »
