Exclusives

Determined E&P pushes forward with its plans to develop shale in the U.K.

BP, oil and gas, projects, production, Bob Dudley

The Juniper, Persephone, Zohr and Khazzan Phase 1 developments are expected to startup by year-end, bringing the total to seven for the year, according to BP.

Ensco Buys Atwood Oceanics In Downturn’s First Offshore Drilling Merger

Despite the need for consolidation in the offshore drilling space, the Ensco-Atwood merger doesn’t mean much for the currently oversupplied market, analyst says.

OPEC, extends, oil production, cuts

Demand is expected to pick up in the second quarter, according to OPEC’s president. But that doesn’t mean another extension is off the table.

Statoil, Johan Sverdrup, Eldar Sætre, North Sea, ONS, oil, offshore, Norway, costs

Development costs for Phase 1 of the project offshore Norway have fallen by 21%.

Completion

Scotland has placed a moratorium on underground coal gasification, a form of unconventional gas extraction, adding to a ban on shale gas that it imposed in January.

But if Britain forges ahead with shale development it will need to develop carbon capture and storage (CCS) to make sure it can still meet emission reduction targets

For the Netherlands, the EU's biggest gas producer, less gas could reduce national income by almost 2 billion euros ($2.1 billion), according to the Ministry of Economic Affairs, Bloomberg said.

Drilling

Frontera Resources Corp. on April 19 announced the successful completion of drilling operations at the Dino-2 well, the second of the three-well drilling campaign at the company’s Taribani complex on Block 12 in Georgia.

Morten Kelstrup will join Maersk Drilling as chief commercial & innovation officer to lead the newly-established Commercial and Innovation function, the company announced on April 18.

Seadrill’s main owner, Norwegian-born billionaire John Fredriksen, backed by Centerbridge Partners, and a group of unsecured bondholders have submitted alternative restructuring plans, and started talks earlier in January.

Saipem signed a contract with Eni (NYSE: E) in relation to the West Hub development project in Angola, the company said on Dec. 22.

Siccar Point Energy E&P Ltd. has completed the Lyon exploration well farm‐out deal with Ineos UK SNS Ltd., the company said on Dec. 4.

Enhanced Oil Recovery

Hunting Plc, the international energy services company, said March 26 it has signed a collaboration agreement with U.S.-based EOR company, Titan Oil Recovery Inc.

The project will use 4-D seismic imaging, horizontal drilling and pump technology. Polymer chemical injection technology’s role in maximizing economic recovery of U.K. hydrocarbon reserves will be demonstrated.

Coreflooding measures the effectiveness of water or gas injected into an oil-bearing rock sample to displace oil. This can be used to assess the potential for water flooding in an oil field, BP said in a news release.

Field Development

The Anglo-Dutch company holds a 50% stake in the field, which has seen production reduced in recent years following a series of damaging earthquakes.

Greece’s Energean Oil & Gas listed on the London Stock Exchange on March 16, raising $460 million to develop two Israeli offshore gas fields.

The MoU signed in London between the two companies was during the official visit of Saudi Crown Prince Mohammed bin Salman to Britain, and would include gas upstream and liquefaction projects.

Oil firms will probably file between five and ten applications to develop new oil and gas fields off Norway in 2018.

Siccar Point Energy Ltd. and Baker Hughes (NYSE: BHGE) agreed on the development of the Cambo Field, located northwest of the Shetland Islands in the U.K., the company said Nov. 1.