PARIS — Total has started up production from the Badamyar project, located offshore 220 km south of Yangon in the Republic of the Union of Myanmar. The project will enable an extension of the Yadana gas field’s 8 billion cu m per year production plateau beyond 2020. “Completed on schedule and with costs 20% below budget, this second start-up by ...
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Linn Energy announces $581.5 million sale of western Wyoming assets
HOUSTON — Linn Energy, Inc. announced today that it has signed a definitive agreement to sell its interest in properties located in western Wyoming to Jonah Energy LLC for a contract price of $581.5 million, subject to closing adjustments. Proceeds from the sale are expected to be used to reduce outstanding borrowings under the company’s revolving credit facility and term ...
Read More »BP expands digital rocks technology
HOUSTON — BP’s proprietary digital rocks technology program is getting a key upgrade from a new multi-year commercial agreement with Exa Corporation, which will enhance BP’s ability to predict the flow of oil and water in digital images of reservoir rock. This new capability, known as multiphase flow simulation technology, will help engineering teams to make more informed decisions on ...
Read More »BP finds more than 200 MMbbl in new resources with seismic imaging at U.S. GOM
HOUSTON — BP announced a major breakthrough in seismic imaging that has identified more than 200 MMbbl of additional resources at BP’s Atlantis field in the deepwater Gulf of Mexico. As a result of this early success, BP now is deploying this technique to fields elsewhere in the Gulf of Mexico as well as in Azerbaijan, Angola, and Trinidad and ...
Read More »Schlumberger contracts with Pemex for multiclient wide-azimuth seismic survey in Campeche Basin
HOUSTON — Schlumberger announced today that Petroleos Mexicanos (Pemex) has signed an agreement to license data from the WesternGeco Campeche wide-azimuth (WAZ) multiclient seismic survey in the Salina del Istmo province of the southern Gulf of Mexico. The agreement also includes collaboration with WesternGeco in the seismic processing phase of the project as well as for future technology collaborations. This ...
Read More »Halliburton, Trendsetter, C-Innovations form Gulf of Mexico subsea alliance
HOUSTON — Halliburton, Trendsetter Engineering and C-Innovations today announced the companies have formed a strategic alliance to provide Gulf of Mexico (GOM) customers with technologically advanced, integrated offshore wellintervention packages. The alliance leverages the companies’ strengths to create subsea solutions for hydraulic interventions. The combined packages will improve operator efficiency while addressing in-field production and subsea challenges. “By working together, ...
Read More »Saudi Aramco CEO says ‘peak oil’ demand is a misleading theory
LONDON (Bloomberg) — The boss of Saudi Arabia’s state oil company defended petroleum as the mainstay of the global economy, countering theories that demand will peak within years with his own forecast that consumption will keep growing for decades. “The global economy is forecast to double in size by 2050,” so overall demand for energy will be higher, Saudi Arabian ...
Read More »Hungary’s MOL Keen on Joining Iran Oil Projects
TEHRAN, Apr. 29 (Shana) — Hungary’s state-owned oil and gas group MOL has indicated preparedness to join oil projects in Iran by the adopting enhanced oil recovery (EOR) and improved oil recovery (IOR) techniques, a senior Iranian oil official said. Following a meeting with MOL deputy chief executive officer, Berislav Gaso, in his Tehran office on Wednesday, Deputy Petroleum Minister ...
Read More »Gazprom Neft drills first multi-hole “fishbone” well on Russian Arctic Shelf
MOSCOW — The first-ever, multi-hole “fishbone” well involving multiple horizontal branches has been drilled and commissioned at the Prirazlomnaya offshore rig — the only project on the Russian Arctic shelf at which commercial oil production is currently ongoing. The trajectory chosen for the wells allows significantly greater coverage of oil-bearing sections of the strata. The new well represents the fourth ...
Read More »Lukoil drills first 1,000 m of exploration well 1P at Taymyr
MOSCOW — LUKOIL has drilled 1,000 m of its first exploration well on the Vostochno-Taymyrsky license block. About 374 m of core samples from eight formations will be collected and analyzed during drilling. A most modern logging suite will be run to assess the reservoir properties of rocks and their saturation. A modular dynamic tester will be used, which allows ...
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