Category Archives: Offshore Ocean News and Information

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MARKET WATCH: Crude oil prices rise on US rig count

Oil prices climbed May 28 for a second trading session with light, sweet crude oil for both the July and August contracts settling above $59/bbl as traders returned after a long Memorial Day weekend.

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NMFS proposes IHA for Hilcorp project in Alaska

The National Marine and Fisheries Service proposed authorizing incidental harassment approval (IHA) of marine mammals on May 28 during construction and operation of Hilcorp’s proposed Liberty Drilling and Production Island in Alaska. The proposed rule would establish a framework under the Marine Mammal Protection Act for 5 years. Comments will be accepted through June 28.

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Eni farms in to blocks offshore Mozambique

An Eni SPA subsidiary has farmed in to three blocks offshore Mozambique in an agreement with ExxonMobil Mozambique Exploration & Production Ltd., the operator.

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Equinor granted North Sea drilling permit

Equinor Energy AS has been granted a drilling permit by the Norwegian Petroleum Directorate for well 16/5-7 in production license 502 in the North Sea.

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Consortium launches industrial-scale CCS project

A consortium of 11 European stakeholders including ArcelorMittal, Axens, IFP Energies nouvelles (IFPEN), and Total SA, has launched a project to demonstrate an innovative process for capturing carbon dioxide from industrial activities. The so-named DMX project is part of a more comprehensive study dedicated to the development of the future European Dunkirk North Sea carbon…

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MARKET WATCH: Oil prices tumble after US-China news

Light, sweet crude oil contracts for July and August plunged by more than $3.50/bbl on May 23, marking the sharpest single-session drop since Dec. 24, 2018, and the lowest settlement since Mar. 12. Brent crude oil prices also fell more than a $3/bbl on the London market with the July contract settling under $68/bbl. Analysts…

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Collaboration needed to meet Mexico’s hydrocarbon ambitions

While there hasn’t been a dramatic change for the energy industry in Mexico since President Andres Manuel Lopez Obrador took office in 2018, progressive collaboration between the industry and country regulators is needed to fulfill the country’s hydrocarbon ambitions.

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Novatek acquires five Krasnoyarsk licenses

Units of Novatek have acquired exploratory licenses for five areas on the Gydan Peninsula in Krasnoyarsk, Russia.

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Baker Hughes: Canada adds 15 rigs for the week

Canada has added 15 rigs for the week ended May 24, according to Baker Hughes data. With 78 rigs running, the count is slightly less than the 81 units drilling this week a year ago. The number of oil-directed rigs in Canada increased by 16, bringing the count to 38 rigs for the week. Gas-directed…

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Dual-target, Mol Norge-operated well comes up dry

Mol Norge will plug exploration well 3/7-11 S, which was targeting the Vinstra and Otta prospects in PL539 in the North Sea. Both targets were dry, reported partner Lundin Norway AS. The well was drilled by the Rowan Viking jack up rig 7 km southwest of Trym field on the eastern side of the Mangal…

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