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  1. BP : Exploration well to target carboniferous gas play in North Sea

    BP North Sea reported it will begin drilling on a potential carboniferous natural gas play on Block 43/26a in the southern North Sea that, if successful, “could open up a new phase of development in the region.” The well, being drilled with partners Perenco and Premier, will test the potential of a deep carboniferous age horizon several hundred meters beneath the mature reservoirs now produced by the Ravenspurn ST2 platform. “This play warrants further exploration as we know the reservoir sands exist. What we don’t know is whether, if gas is found, long-term production can be proven economic from this deeply buried reservoir horizon,” said Mark Thomas, BP North Sea regional president. During the drilling and testing phase, Perenco, as operator of existing (and producing) Ravenspurn field, will act as substitute operator on behalf of BP and the other license owners. BP holds an 85% equity stake in the prospect. Perenco holds 10% and Premier, 5%. BP North Sea expects to increase production from its UK assets to about 200,000 b/d by 2020. In 2016, BP is expected to spend about $2 billion in capital investment and $1.6 billion running its operations, the company said. Over the next 18 months, BP plans to participate in as many as five exploration wells in addition to potentially drilling 50 developments wells in the North Sea over the next 3-4 years.

    Online Articles

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    Wed, 7 Dec 2016

  2. Oil and Gas: Glencore, Qatari fund buy 19.5 percent in Russia's Rosneft

    Commodities giant Glencore and Qatar's sovereign wealth fund have together acquired a 19.5 percent stake in Russia's top state-controlled oil company, Rosneft, in a deal worth 10.5 billion euros ($11.3 billion), officials said Wednesday.

    Online Articles

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    Fri, 9 Dec 2016

  3. Shah Deniz II secures additional funding

    The Asian Development Bank will provide $1 billion in private and public sector assistance to expand the Shah Deniz II project offshore Azerbaijan.

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    Wed, 7 Dec 2016

  4. BP testing deeper Carboniferous play at North Sea Ravenspurn field

    BP says exploration drilling has started on a potential Carboniferous gas play in the UK southern North Sea block 43/26a.

    Online Articles

    Online Articles

    Mon, 5 Dec 2016

  1. BP sanctions Mad Dog Phase 2 project

    Online Articles

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    Thu, 1 Dec 2016

  2. BP sanctions Mad Dog Phase 2 project in Gulf of Mexico

    BP PLC has sanctioned the Mad Dog Phase 2 project, which will include a floating production platform with the capacity to produce as much as 140,000 b/d of crude oil from as many as 14 production wells. Production is scheduled for late 2021.

    Online Articles

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    Thu, 1 Dec 2016

  3. Aker BP finishes assimilation process

    Aker BP has completed its integration following the merger between Det norske oljeselskap and BP Norway.

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    Thu, 1 Dec 2016

  4. Eni admits BP as partner in deepwater Zohr gas project

    BP has agreed to acquire a 10% interest from Eni in the Shorouk concession offshore Egypt for $375 million.

    Online Articles

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    Tue, 29 Nov 2016

  5. BP assigns Forties cost review to Turner & Townsend

    BP has contracted Turner & Townsend to provide quantity surveying and cost management services across its facilities in Scotland.

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    Fri, 2 Dec 2016

  6. Aker BP appoints DNV GL for inspection, classification needs

    Aker BP has awarded DNV GL a five-year frame agreement, covering a wide range of safety, verification, inspection, and classification services across its installations on the Norwegian continental shelf.

    Online Articles

    Online Articles

    Wed, 30 Nov 2016

  7. BHP, CNOOC, European majors among winners for Mexican deepwater blocks

    The final phase of Mexico’s first oil and gas bid round featured the awarding of eight of 10 deepwater blocks in the Gulf of Mexico to a variety of global operators. But a busy Dec. 5 began with Petroleos Mexicanos SA’s first farmout to the private sector since the country began energy reform in ...

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    Mon, 5 Dec 2016

  8. Oil and Gas: Mexico awards first deep-water oil agreement

    Mexico's state-owned oil company Pemex said Monday that it has awarded its first contract with a private firm for a joint operating agreement in deep-water oil drilling.

    Online Articles

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    Wed, 7 Dec 2016

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