Category Archives: Offshore Ocean News and Information

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Dominican Republic set to open first licensing round

The Dominican Republic’s Ministry of Energy and Mines will open its first licensing round at an event in partnership with Wood Mackenzie July 10, with an offering of 14 blocks.

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Equinor to further evaluate Norwegian Sea discovery

Norway’s Equinor and partners Ineos E&P and Faroe Petroleum will evaluate how to further develop an oil and gas discovery made in exploration well 6507/3-13 (Snadd Outer Outer/Black Vulture), 14 km southwest of Norne field in the northern part of the Norwegian Sea and 200 km west of Sandnessjoen in production license 159B.

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Baker Hughes: US rig count down 6 units to 969

The US drilling rig count fell 6 units, reaching 969 rigs working for the week ended June 14, according to Baker Hughes data. The count is down 90 units from the 1,059 rigs working this time a year ago.

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Russia’s Kharyaga field starts gas sales

Zarubezhneft and production-sharing partners have started sales of associated sour gas at Kharyaga oil field in the Nenets Autonomous Region of northwestern Russia.

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IEA consecutively cuts oil demand growth forecast

In its latest monthly Oil Market Report, the International Energy Agency cut its forecast for global demand growth in 2019 for a second consecutive month. It is now projected at 1.2 million b/d, reduced from 1.3 million b/d in the previous report and 1.4 million b/d in the April report.

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MARKET: NYMEX oil prices plunge more than $2/bbl

Light, sweet crude oil prices for July and August dropped steeply by more than $2 on July 12 to settle below $52/bbl on the New York market while Brent crude oil also dipped by more than $2 in London to settle under $60/bbl.

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CSB: Operational lapses led to well blowout, fire

Poor barrier management combined with underbalanced operations performed without proper planning, procedures, or needed equipment to make an Oklahoma natural gas well blow out and catch fire on Jan. 22, 2018, killing five workers in the driller’s cabin on the rig floor, a US Chemical Safety Board investigation concluded.

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CAPP: Canadian crude output growth slowing

Canadian production of crude oil and condensate will increase through 2035 but at rates sharply lower than predicted before the crude-price slump of 2014-15 and the onset of problems associated with pipeline congestion. In its annual outlook for crude oil, the Canadian Association of Petroleum Producers projects total Canadian production of 5.86 million b/d of…

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BP report sees energy-emissions ‘mismatch’

Citing a “growing mismatch” between hope and action, BP executives released the company’s annual Statistical Review of World Energy featuring slow progress on climate change and rapid growth in energy demand and emissions of carbon dioxide. The report also noted that the US recorded the largest-ever annual production increases by any country for oil and…

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Third KG D6 project off India sanctioned

Reliance Industries and BP have sanctioned the third of three projects in the integrated natural gas development of Block KG D6 in deep water off eastern India. The new project, MJ, is a high-pressure, high-temperature gas condensate field with well depths of 4,200 m below mean sea level in 700-1,100 m of water. It’s also…

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