Upstream drilling news

President Barack Obama has permanently banned offshore oil and gas drilling in the 'vast majority' of US-owned northern waters in a move to protect the region from the upcoming Donald Trump administration.

Contract awarded for the ultra-deepwater rig, Atwood Osprey, offshore Australia.

Cyngus is expected to contribute 5% of UK gas production.

The new production phase adds to the company's continually growing E&P portfolio.

Following this transaction, Athabasca will take over operatorship of Leismer and Corner and Statoil will no longer operate any oilsands assets.

The Oman Ministry of Oil & Gas has announced that bidding for the 2016 licensing round is now underway. Using a new online service, interested parties are now able to access and evaluate data relating to all four blocks online.

Higher drilling efficiency has enabled Maersk Oil to reduce development costs on the Culzean HPHT gas project by US$500 million.

The companies have agreed to amend the existing long-term contracts on three ultra-deepwater drillships. In the current, challenging environment for offshore exploration and production projects, the agreements offer benefits for both parties.

AWE Limited has divest its 57.5% interest in the Tui Area Oil Fields to Tamarind Management Sdn Bhd.

The acquisition of Essential's service rig business expands Precision's leading well service position.