Oil And Gas Updates: 8 November 2018


General

Oil falls as rising global supply forces price U-turn:

Investors focused on the pace of growth in global crude supply, which is increasing more quickly than many had expected. U.S. crude output tripled since 2008




Angola

Eni and Sonangol agree expansion of Block 15/06 perimeter, offshore Angola, now covering an additional area of 400 km2 on the west side


Australia

Cooper Energy completes Prospective Resource Assessment for Otway Basin Annie and Elanora Prospects. The prospects may be drilled in 2019


Canada

  • BHP successful in bids for blocks in the offshore Orphan Basin in Eastern Canada

  • C-NLOPB releases results for 2018 Calls for Bids. The results include a record cumulative successful bid amount of $1,386,273,936 and a record single successful bid amount of $621,021,200.

  • Equinor successful bidder for three new licences offshore Newfoundland


France

Oilseed group Avril launches 100% biodiesel fuel in France


Indonesia

Bass Oil achieves record oil production at Tangai-Sukananti: record monthly oil production of 27,795 barrels of oil in October, a 7 percent increase over the previous production record.


Mozambique

Fast-track 3D seismic data from CGG's Mozambique multi-client survey in the outer Zambezi Delta Basin now available for license


Norway

  • Norwegian oil, gas plants shut after tanker, frigate collide at Norway's westcoast: Eight people injured and triggering the shutdown of a North Sea crude export terminal, Norway’s largest gas processing plant and several offshore fields

  • Spirit Energy given consent to drill exploration wells 8/10-7 S and 8/10-8 S in PL 405 in the North Sea. The wells will be drilled at a location around 15 km from the Ula field and will test a prospect named Cassidy

  • Norway approves OKEA's purchase of Norske Shell's interest in the Draugen and Gjoa fields



Uganda

Uganda to launch next oil exploration bidding licence round next May


United Kingdom

Shell has submitted its draft decommissioning program for the Goldeneye field installations and pipelines located in the North Sea to the UK authorities