Oil And Gas Updates: 14 November 2018


General

  • Oil prices are in a history-setting tailspin

    Crude oil has lost over a quarter of its value since early October in what has become one of the biggest declines since a price collapse in 2014

  • Oil rose on Wednesday on the growing prospect of OPEC and allied producers cutting output at a meeting next month to prop up the market


Angola

Ocean Rig Poseidon rig starts Eni work in Angola. Rig inquiries on the rise


Brazil

  • Eletrobras posts Q3 loss of $427 mln on provisions, write-offs

  • Petrobras announces start-up of P-75 in Buzios field pre-salt of the Santos Basin


Indonesia

  • Cue Energy to flow test Paus Biru-1 exploration well in the Sampang PSC, offshore Indonesia

  • Bass Oil acquires North Madura PSC to expand its Indonesian portfolio


Nigeria

Nigeria To Lift Crude Oil Production To 1.8 Million Bpd In 2019


Norway

  • Faroe Petroleum’s Rungne well in North Sea offshore disappoints

  • SeaBird Exploration takes delivery of Geowave Voyager from CGG, the vessel has been renamed Eagle Explorer

  • PGS sells OptoSeis to Geospace Technologies


Russia

LUKOIL completes drilling of second production well in the eastern part of the Yury Korchagin field


South America

PGS bags 3D survey award in South America


UAE

  • ADNOC awards stake in offshore mega project to Eni

  • ADNOC to extend long-term gas supply agreement for LNG production

  • ADNOC to invest USD1.4 billion to upgrade and expand its giant Bu Hasa field as it ramps up onshore crude production capacity


United Kingdom

Positive interest in UK’s 31st Offshore Licensing Round


United States

  • TechnipFMC signed a surface technologies frame agreement with Chevron:

    The five-year agreement covers the exclusive supply of surface wellhead equipment and service in the United States and Canada

  • BHGE and GE announce a series of long-term agreements to maximize value for both BHGE and GE

  • SeaBird Exploration to undertake 2D seismic survey in Americas