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

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.

Independent Oil & Gas Plc (IOG) has been issued a two-year extension to the initial term for license P2085, that includes Harvey, by the U.K.’s Oil & Gas Authority.

Statoil plans to drill between 25 and 30 wells in Norwegian waters in 2018. Of these wells five or six are expected in the Barents and the rest will be split between the North Sea and the Norwegian Sea, which are both located farther south.

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.

Enhanced Oil Recovery

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

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

Norway’s Add Energy, Australia’s Transborders Energy and other partners will pick a site in 2018 for a low-cost floating liquefied natural gas (FLNG) development, the Norwegian consultancy firm said Oct. 17.

U.K.-based Hurricane Energy PLC has received development and production consent for its Lancaster field development plan, the Early Production System (EPS).

BP and SOCAR signed a contract on Sept. 14 extending its production sharing deal until 2050 for Azerbaijan's biggest oilfields.

The $50 million development plan is targeting 11 MMboe discovered in the early 1980s by the state-owned Public Petroleum Corp. The resources remain undeveloped.