Oil & gas news

Throughout the year, ExxonMobil has announced a number of discoveries, acquisitions and exploration activities in various countries, including Brazil, Cyprus, Equatorial Guinea, Guyana, Mauritania, Papua New Guinea, Suriname and in the United State's Gulf of Mexico.

The new backstop designs have been designed in response to date collected from customer visits, product inspections and in-house tests.

Petrotechnics’ survey cautions that the rate of innovation in digitalisation could challenge adoption.

The initial phase of the deepwater project consists to two development wells in Keathley Canyon 829 and a six mile subsea tieback to the Lucius plat form at Keathley Canyon 875.

Drilling leases for vertical and horizontal wells have been completed and the Ensign 965 Drill Rig has begun to arrive at PEL96 of the Southern Cooper Basin.

Aker Solutions have been awarded contracts from Statoil to provide subsea production systems offshore Norway, in the North and Barents Sea. Both orders include installation and commissioning support services.

The ONZ-7 well was drilled to a total depth of 1167 m with five m of net conventional natural gas pay in the Hoot formation. The well came in on prognosis but reservoir quality exceeded initial expectations, encountering porosity in the pay section of 35.3%.

Halliburton has reported a loss from continuing operations of US$805 million for 4Q17, which it believes are a reflection of charges related to US tax reform and Venezuela receivables.

Independent petroleum engineers, DeGolyer & MacNaughton, have completed their comprehensive reserve appraisal of the Company’s hydrocarbon reserves as of 31 December 2017.

Rising oil prices have drawn more eyes to the offshore markets. There are signs of green shoots after a period of depressed sentiment that started in late 2014, pushing asset values downwards through 2016.