The number of upstream oil and gas merger and acquisition (M&A) deals dropped by approximately 40 percent in 2020 compared to the previous year, and the value of such deals declined by nearly 50 percent during the period, according to a new report from Deloitte. “2020 has been an unprecedented and tumultuous year for the […]
US independent to accelerate exploration and appraisal drilling in Block 58 with operator Total US independent Apache has unveiled plans to invest $200 million in exploration activities this year, with nearly all of it to be used to advance drilling operations in prolific Block 58 off Suriname where it is joined by French giant Total. […]
Seven companies have applied for production licenses in the 25th licensing round on the Norwegian shelf. The deadline for applications was 23 February. A total of 136 blocks or parts of blocks were announced in this licensing round. Of these, eleven are in the Norwegian Sea and 125 in the Barents Sea. “In this round, […]
Guyana has made progress in building up capacity for serving its offshore fields, but Suriname’s arrival on the scene could offer more scale Guyana and Suriname face challenges building up local capacity for servicing new offshore industries and discussion is emerging about how the two countries might get better results by working more closely together. […]
In the fourth part of our Special Focus on Guyana & Suriname, Upstream examines interest in Suriname’s shallow-water licensing round Apache’s oil discoveries on Block 58 and the Petronas-operated Sloanea-1 find on Block 52 have stimulated interest in a Suriname shallow-water bid round. The eight blocks on offer, extending from the west of the country, […]
In the first part of our Special Focus on Guyana & Suriname, Upstream looks at how ExxonMobil is planning a busy year of wildcatting in the region The Guyana-Suriname basin has become a global hot spot for oil exploration and production since US supermajor ExxonMobil opened up the play in May 2015 with the Liza […]
CGX and Frontera have secured contract extension until February 2022 to spud Makarapan-1 exploration well Canadian players CGX Energy and Frontera Energy have secured an additional year to start drilling operations at the shallow-water Demerara block offshore Guyana. Frontera said the joint venture recently completed negotiations with the Guyanese government regarding rescheduling work commitments
Atlantic Canada is committed to expanding relationships with Colombian stakeholders as part of the ongoing oil and gas sector program and has arranged a series of online events to enable continued engagement with key partners. Noia members are invited to take part in the program which consists of webinars and virtual visits to provide Colombian […]
Stena Forth will be the company’s fourth drillship to be equipped with a managed pressure drilling system Aberdeen-based driller Stena Drilling has unveiled plans to upgrade a fourth drillship in its fleet with a managed pressure drilling (MPD) system. Stena confirmed it purchased an MPD kit for the Stena Forth, which is currently drilling the […]
The Canada-Newfoundland and Labrador Offshore Petroleum Board (C-NLOPB) continues its enhanced oversight of plans and procedures that have been put in place by operators to respond to the risks of COVID-19 and protect the health of offshore workers. At the time of issuance of this update, no worker in the Canada-Newfoundland and Labrador Offshore Area […]
