Oil & gas news

Gross production increased in the current quarter to over 1000 million ft3/d.

Schlumberger and Subsea 7 S.A have announced that they have entered into exclusive negotiations to form a joint venture that builds on the success of Subsea Integration Alliance, which was established in 2015.

Fugro has been awarded a contract by Guangzhou Marine Geological Survey (GMGS) for gas hydrate investigation on the Northern Continental Slope of the South China Sea. The contract is valued at approximately US$40 million and the project is expected to commence in the second quarter of 2018.

Dragados Offshore, S.A. has announced the award by Mærsk Oil and Gas of the contract for the Tyra East G & Tyra East H Jackets for the Tyra Future Development Project, both to be installed in the Danish sector of the North Sea.

Noble Energy, Inc. announced total proved reserves of 1.965 billion boe as of December 31, 2017, a net increase of 528 million boe versus year-end 2016. 

SDX Energy Inc., the North Africa focused oil and gas company, announces that the KSS-2 well on the Sebou permit in Morocco was drilled to a total depth of 1293 m encountering 8 m of high quality reservoir interval in the Gaddari and Guebbas sequences with an average porosity of 30%.

This significant find marks the first documented occurrence of ‘live’, or flowing, oil from onshore Jamaica and will be of particular interest to oil explorationists focused on Central America and the Caribbean.

MX Oil has raised £500 000 before expenses via a placing (the Placing) of 100 million new ordinary shares at a price of 0.5 pence per share (the Placing Shares). The funds raised will enable further development of the Aje project.

UK Oil & Gas Investments PLC announces that oil has flowed to surface from the naturally fractured KL5 reservoir at its 100% owned BB-1/1z exploration discovery, located in licence PEDL234.

The company’s Dart Activated Valve MX™ CircSub was used recently by a European operator in the Netherlands.