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Talos Energy is joining forces with a subsidiary of Argentina’s Pan American Energy LLC to accelerate exploration efforts offshore Mexico.
The frame agreement replaces the previously announced letter of intent.
The BP tieback project adds a new subsea manifold and connects two wells to existing flowlines about 3 km north of the platform in the U.S. Gulf of Mexico.
The two countries halted output from the jointly run Khafji and Wafra oil fields in the so-called Neutral Zone more than three years ago, cutting some 500,000 barrels per day, or 0.5%, of global oil supply.
Lundin Norway and its license partners in PL338 said Oct. 17 that it has awarded Stavanger based Rosenberg WorleyParsons a contract for modification work on the Edvard Grieg platform in the North Sea.
German oil firm Wintershall’s flagship project in Norway—the Maria oil and gas field—is not meeting output expectations due to water injection issues, the company said on Oct. 15.
Occidental Petroleum Corp. (NYSE:OXY) said on Oct. 15 it will not pursue an extension for the Idd El-Sharghi North Dome (ISND) Field offshore Qatar, which is set to expire in October 2019, the company said in a news release.
The North Sea discovery has estimated reserves of 77 million barrels of oil equivalents, and by connecting it to existing production facilities at the Ula Field, Aker BP expects the acquisition to add more than 100 million barrels in total.
Perceptions have changed for the better for the emerging oil and gas play as activity increases and others move into the neighborhood.
The company also said it expects to generate substantial free cash flow in 2018, allowing it to initiate a dividend in the first-quarter of 2019.
Subsea 7 SA on Oct. 10 announced the award of a contract by Tullow Ghana Ltd. on the Jubilee field, offshore Ghana, in water depths of up to 1000 m (3,280 ft).
The waiver extension will allow Serica to complete the acquisition of BP’s stake in the Rhum, Bruce and Keith fields as well as buying Total’s stakes in Bruce and Keith, Serica said in a statement.