CEO Eldar Saetre signed an initiative to end flaring in Washington, D.C. Eight other oil companies and eight other countries endorsed the initiative. Statoil’s operations in Norway don’t use flaring.
As reported March 2, Petrobras approved a US$13.7 billion 2015 to 2016 divestment plan. It is part of financial plan to reduce leverage, preserve cash flow and prioritize investments.
Valemon is a new Norwegian Continental Shelf project, said Arne Sigve Nylund, executive vice president--Development & Production Norway. There is a high-pressure/high-temperature reservoir. Expected recoverable reserves are 192 MMboe.
Protesters fill the main lobby of BP's Houston office ahead of the five-year mark of the Deepwater Horizon oil spill. Protest is also planned in London ahead of shareholders' meeting.
Anadarko and project partners estimate there is 75 Tcf of exploitable gas offshore Mozambique, Bloomberg said. The Rovuma Basin could hold 120 Tcf technically recoverable reserves, a consultant said.
A Dutch court will announce Tuesday whether production at Groningen, Europe’s biggest natural gas field, has to be cut after earthquakes damaged buildings in the nation’s northernmost province, Bloomberg said.
Some of the federal proposals have already have been adopted by the industry, which worked with regulators following Deepwater Horizon to improve offshore operations.
Proposals in Brazilian congressional committees advocate changing Brazil’s deepwater presalt field production sharing model. Competition and no requirement to partner with Petrobras could revive Rio de Janeiro’s economy, Bloomberg said.
Since 2010, the American Petroleum Institute has published more than 100 new and revised standards for E&P safety, including BOP standards.
Argentina filed charges against several E&Ps after the 33rd anniversary of its invasion of the U.K.-held Falklands, Bloomberg said. On April 2, two companies reported exceptional Zebedee oil well discovery.
Boulder Energy Ltd. will work in DeeThree’s Belly River development in the Pembina-Brazeau area of Alberta. Granite Oil Corp. will work in DeeThree’s Bakken EOR project in southern Alberta.
In 1965, first licensing rules for the Norwegian Continental Shelf were put in place by royal decree. A 278-block licensing round was announced, the most extensive in Norway’s oil history.