Exclusives

The development, which includes two new bridge-linked platforms, has been designed to produce until 2050 with a peak production capacity of 120,000 barrels per day.

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.

Completion

Turkey and Italy are the last buyers of Iranian crude outside China, India and the Middle East, according to tanker data and an industry source, the latest sign that shipments are taking a major hit from looming U.S. sanctions.

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

British shale gas company Cuadrilla has paused fracking at its Preston New Road site in northwest England for the second time in two weeks, after a tremor with a magnitude of 1.1 was detected on Oct. 29, the company said.

Wellesley Petroleum AS, an exploration company focused on the Norwegian Continental Shelf (NCS) on Oct. 29 announced the successful appraisal of the Grosbeak Discovery in the Northern North Sea by wells 35/11-21S and 35/11-21A. The wells were drilled in production license Pl248I where Wellesley holds a 60% operated interest.

Shale gas developer Cuadrilla will start fracking at its Preston New Road site in northwest England in the next few weeks, it said on Sept. 19 as it announced government approval for a second well.

Maersk confirmed its preliminary second-quarter EBITDA of $883 million.

Shell Exploration and Production Mauritania B.V. on July 23 signed two production sharing contracts with the government of Mauritania for the exploration and potential future production of hydrocarbons in the offshore blocks C-10 and C-19.

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

Aker BP’s oil and gas production fell 4.6% in third-quarter 2018 to 150,600 barrels of oil equivalent per day (boe/d) due to maintenance at two of its fields, the company said Oct. 5.

The commercial terms of the agreement, which is subject to customary conditions that include partner and authority approval, were not disclosed.

Malaysian oil and gas company Hibiscus Petroleum is aiming to double its oil output in the U.K. North Sea and in Malaysia to 20,000 barrels per day by 2021.

Prospex’s wholly-owned subsidiary PXOG Massey Ltd. holds a 50% non-operated interest in the 980 sq km (378 sq miles) Concession.

U.K.-focused oil company EnQuest is offering new discounted shares to buy out the Magnus oil field and has borrowed money against 15% of its Kraken field as it seeks to reduce its debt pile of almost $2 billion.