Oil And Gas Updates: 1 November 2018


General

Oil prices fall on signs of rising supplies, ebbing confidence on global economy





Algeria

Eni, Total Partner with Sonatrach for Offshore Exploration in Algeria




Australia

  • Key Petroleum farms out Perth Basin permit L7 to Triangle Energy .The permit, located in the onshore Perth Basin, contains the Mount Horner oil field



  • Central Petroleum has announced that Santos has completed the seismic works as part of the Southern Amadeus Stage 2 farmout through the acquisition of 1,337 line km in EP82, EP112 and EP125. Santos has elected to proceed to Stage 3 of the Southern Amadeus Farmout with Central by electing to drill a well in EP112.



Brazil

Petrobras to sell stake in Africa unit to Vitol-led group for $1.5 bln




Canada

  • Canada's Environmental Assessment Agency invites public comments on BP's Newfoundland Orphan Basin exploration drilling project

  • Suncor Energy Inc , Canada’s second-largest energy producer, reported a higher third-quarter profit on Wednesday on better oil prices and increased refinery margins, along with higher sales and output




China

  • China National Petroleum Corp (CNPC) and China National Offshore Oil Corp (CNOOC) have expressed interest in bidding for onshore oil and gas blocks in Greenland, to be offered in 2021

  • China's Sinopec said on Thursday: Phase 2 of Tianjin LNG terminal approved by the Tianjin Development and Reform Commission on Oct. 29, 2018





Colombia

  • Amerisur Resources reparing to spud Indico-1 well in the CPO-5 block

  • Colombia's Ecopetrol profit nearly triples on oil price boost: Third-quarter net profit rose to 2.77 trillion pesos ($866.5 million), up 177 percent from the same period last year, thanks to higher global crude prices and increased output



Italy

ADX Energy has signed an agreement with SDP Services to farm out a 50% interest in the d 363 C.R-.AX Permit containing the Nilde Oil Redevelopment Project and the successfully tested Norma and Naila oil discoveries offshore Italy



Nigeria

Nigeria Heads Out to Sea in Search of Safer Future for Oil Development. By early next year, the largest offshore production vessel ever delivered to Nigeria will start pumping crude from a deposit deep beneath the seabed, boosting the West African country’s oil output by about 10%. The project, viewed as the most ambitious in Nigeria’s history, could help to push production to a record by 2022





Norway

  • Faroe Petroleum granted drilling permit for well 31/7-3 S in PL 740

  • Equinor awards jacket contract for Johan Sverdrup phase 2 to Kvaerner. The contract value is around NOK 900 million



Philippine

Philippine Energy Secretary Alfonso Cusi is optimistic that a deal to jointly explore disputed areas of the South China Sea for oil and gas will finally move forward when President Xi Jinping visits next month




Tunisia

Panoro Energy signs Heads of Terms for the drilling of first well offshore Sfax




United Kingdom

  • Serica Energy's Columbus Field Development Plan approved by Oil and Gas Authority (OGA).. Peak production is expected to be 7,800 gross barrels of oil equivalent ('boe') per day. Best Estimate Gross (2C) Contingent Resources have been calculated to be 13.4 million boe.

  • United Oil and Gas Chief Targets Growth in Europe: including a potential acquisition, as it eyes opportunities in Jamaica






United States

  • Pioneer Natural Resources announces sell approx. 2,900 net acres in the Sinor Nest (Lower Wilcox) field for net proceeds of $132 million

  • BP completes $10.5 billion acquisition of BHP assets in US onshore