Xodus wins Subsurface Contract with Cairn Oil and Gas in India
field as well as subsurface analysis of drilling results. The work will largely be undertaken from Xodus' offices in London and The Hague with regular visits to Cairn Oil and Gas’ offices near New Delhi for workshops. Cairn Oil and Gas operates over a quarter of India's domestic crude oil production. The Mangala, Bhagyam and Aishwariya (MBA) are the three largest finds in Rajasthan. The oil and gas fields in the Rajasthan Block constitute Cairn's key assets in India. The Mangala field - considered to be the largest onshore hydrocarbon find in India in the last two decades - was discovered
Mexico Auctions Two-thirds of Blocks in Shallow Water Oil Tender
two previous shallow water tenders. They yielded 39 contracts signed with forecast investment over their lifespan of $48.8 billion, according to energy ministry data. Mexico hopes that by opening up the energy sector it will help reverse years of declining crude oil output. Total crude oil production in Mexico now stands at 2.01 million barrels per day, down from a peak of 3.38 million in 2004. (Reporting by Adriana Barrera; Editing by Bill Trott and Leslie Adler
Norway Wants Oil Companies to Use Technology to Boost Output
director for development and operations, told Reuters. She said companies would be obliged to use the EOR process if there were significant profits at stake. "We as a regulator can include conditions also for the use of EOR when approving development plans," she said. Norway's crude oil production has halved from a peak of 181 million cubic metres in 2000 to 94 million cubic metres in 2016. The regulator has already asked the partners in the giant Johan Sverdrup field offshore Norway to carry out a pilot project that would inject water mixed with polymers to aid recovery when the
EIA Release Short-Term Energy Outlook
; • Implied global petroleum and liquid fuels inventories are estimated to have increased by 0.4 million barrels per day (b/d) in 2016. EIA forecasts inventory builds to average 0.2 million b/d in 2017 and then increase to an average of 0.5 million b/d in 2018. • U.S. crude oil production averaged an estimated 8.9 million b/d in 2016. U.S crude oil production is forecast to average 9.3 million b/d in 2017 and almost 10.0 million b/d in 2018. EIA estimates that crude oil production for April 2017 averaged 9.1 million b/d, which is 0.2 million b/d above the April 2016 level and
Obama Bans New Drilling off Alaska, Part of Atlantic Shore
a time, he said. 'Smart Business Decision' In 2015, just 0.1 percent of U.S. federal offshore crude production came from the Arctic. At current oil prices, significant production in the Arctic will not occur, according to a Department of Interior analysis. There is currently no crude oil production in the Canadian Arctic. A number of companies including Chevron Corp, ConocoPhillips and Imperial Oil hold exploration licenses, but all three have put their drilling plans on hold, partly because of weak global oil prices. On the U.S. Atlantic coast, local groups have opposed offshore
Drones: The Next Great Leap in Hydrography
charting is becoming more important outside the world of shipboard navigation as both industry and conservation have gone offshore to meet the increasing demands of a growing global population. By 2020, the subsea sector of oil exploration and extraction is expected to account for 20% of total crude oil production. In addition, global marine fisheries, which provide 15% of all animal protein consumed by humans, have been steadily collapsing for the last half century. As the needs of developed economies grow, so too must the tools to understand the new marine environments from which humanity seeks to
Exxon Declares Force Majeure on Qua Iboe
on July 14. "We are working to ensure loading activities at the facility return to normal. We cannot speculate on any timeline for repairs," the spokesman said. "Qua Iboe Terminal is operating and production activities continue." Nigeria has struggled to maintain its crude oil production following a spate of militant attacks and technical problems that in May pushed production briefly to 30-year lows. While the cause of the latest issue was not immediately clear, traders said it would take least two to four weeks to repair. Earlier this week, Exxon denied claims from the
ONGC to Invest $5 bln to Develop India's Eastern Gas Asset
by the government, our discoveries in the KG (Krishna Godavari) basin are now viable," Sarraf said, adding that an investment plan would be announced by the end of March or by the first week of April at the latest. The new investment may boost ONGC's natural gas output by a quarter and crude oil production by almost 15 percent over the next 4-5 years, a major leap for a company often criticized for failing to arrest a production decline from its ageing fields. After a decade-long trend of falling production, the company reported a marginal rise in its overall production for the fiscal year
Shell Green Lights GoM Field After Cost Cuts
of dollars into the Appomattox project comes as companies have scrapped around $200 billion of mega-projects in the wake of the sharp decline in oil prices over the past year. Shell has operated in the Gulf of Mexico for over 60 years. The region contributes about 17 percent of total U.S. crude oil production according to the Energy Information Administration and was the location in 2010 of the worst offshore oil spill in U.S. history, involving BP's Deepwater Horizon well. Shell's investment decision shows the energy giant's bet on deep water as it seeks to finalise by early 2016 the
February 2024
