A Barrel Fulll Archive

25 July 2023 Eni announces the acquisition of Chevron interests, including Operatorship, in the Indonesian Blocks named Ganal PSC (Chevron 62%), Rapak PSC (Chevron 62%) and Makassar Straits PSC (Chevron 72%), in the Kutei Basin, offshore East Kalimantan. Eni already has a 20% interest as non-operator in the Ganal and Rapak Blocks. The acquisition is an important step, particularly for the opportunity to fast track the development of the Gendalo and Gandang gas project , a part of the Indonesia Deepwater Development (IDD) in the Ganal PSC, close to the Jangkrik FPU, with estimated natural gas reserves of approximately 2TCF. This is in addition to the producing Bangka gas field, the Gehem and Ranggas discoveries and the significant exploration potential also included in the northern part of the asset, which therefore represent a further relevant consolidation for Eni operations in the East Kalimantan area. The acquisition of Chevron's assets in Indonesia will allow Eni to fast track ...

Nov. 3, 2023 China Petroleum & Chemical Corporation (HKG: 0386, "Sinopec") has officially put China's first and also the world's largest LNG storage tank of 270,000 cubic meters into service on November 2 at its Qingdao LNG Receiving Terminal . The tank will add 165 million cubic meters of storage capacity to meet the gas demand of 2.16 million households for five months during the winter heating season, which will enhance and guarantee the natural gas supply in North China. The mega LNG storage tank, independently designed, developed and built by Sinopec, has a diameter of 100.6 meters and a height of 55 meters, a key project of Sinopec Qingdao LNG Receiving Termina's phase III construction. The 270,000-cubic-meter tank adopted 17 patented technologies with independent intellectual property, the main structure was completed in only 18 months and it's in full service within 27 months. In the construction process, Sinopec has localized the applications of o...

26th February 2021 The Board of IndianOil at its meeting held on 26 February 2021 has accorded its approval for capital investment for capacity expansion of Panipat Refinery from 15 MMTPA to 25 MMITPA along with installation of Polypropylene Unit and Catalytic Dewaxing Unit at an estimated cost of Rs.32,946 Crore. The project is expected to be commissioned by September 2024.  The capacity expansion would improve the operational flexibility of the Refinery to meet the domestic energy demand and would also enhance the petrochemicals intensity. The increased prcduction of petrochemicals and value added specialty products would not only improve the margins but also de-risk the conventional fuel business of the company.

03 May 2024 Reference is made to the announcement on 22 April 2022, whereby BW Offshore Limited (“BW Offshore”) announced the agreement to divest the FPSO Polvo to BW Energy Limited for USD 50 million. BW Energy has paid USD 30 million upon the vessel transfer date, with the remaining USD 20 million provided as a seller’s credit by BW Offshore. BW Offshore has received the remaining USD 20 million plus interest. The final instalment concludes the transaction. The FPSO Polvo, which was originally built for operation in the Polvo Field located off the coast of Brazil, successfully completed 14 years of production before being demobilised in 2021. After its acquisition by BW Energy Limited, the unit is currently set to undergo refurbishment in China, preparing for its forthcoming redeployment at the Maromba field .

Equinor and its partners Petoro, Vår Energi, and TotalEnergies EP Norge started production from the first Lavrans well in the Kristin South area on 7 July. The partnership submitted the plan for development and operation (PDO) of the Lavrans and Kristin Q discoveries as satellites to the Kristin field in 2021. This is the first phase of the Kristin South project. The PDO was approved by the authorities in 2022. “The Kristin South project demonstrates our strategy to create value by developing existing infrastructure on the Norwegian Continental Shelf. Together with our partners and suppliers, we have developed the project and started the production from Lavrans in a safe and good way,” says Trond Bokn, senior vice president for project development in Equinor. A new subsea template has been installed and tied into the Kristin platform , now processing oil and gas from the first well at the Lavrans field. The gas will be exported through the pipeline system to the European market, while ...

September 7, 2017 LLOG Exploration Company, L.L.C. (“LLOG” or the “Company”) announced today that the Company and all of its working interest partners have taken several key steps to begin execution of the previously-approved Buckskin Project . This large-scale deepwater development project has been delineated by multiple prior wells and will be a six-mile subsea tieback to the Anadarko operated Lucius Spar and is located on Keathley Canyon blocks 785, 828, 829, 830, 871 and 872 in the Gulf of Mexico in approximately 6,800 feet of water. Affiliates of LLOG Exploration Company, L.L.C. own a 31.3% working interest in the project and LLOG Exploration Offshore, L.L.C. has been named as operator. Repsol and Samson Offshore BSM, LLC each own a 22.5% working interest, Beacon Offshore Energy Buckskin LLC (an affiliate of Beacon Offshore Energy LLC) owns an 18.7% working interest, and Navitas Buckskin US, LLC (an affiliate of Navitas Petroleum LP) owns a 5% working interest. The Keathley Canyon...

02/05/09 Chevron Corporation (NYSE:CVX) today announced a new deepwater oil discovery at the Buckskin prospect located in the deepwater U.S. Gulf of Mexico. The block is approximately 190 miles southeast of Houston, Texas, and 44 miles west of Chevron’s 2004 Jack discovery, which is also in the lower tertiary. The Buckskin No. 1 discovery well encountered more than 300 feet of net pay. The well is located in approximately 6,920 feet of water and was drilled to a depth of 29,404 feet. More tests are being conducted on data gathered from the discovery well, and additional work at the prospect, located in Keathley Canyon Block 872, will be needed to determine the extent and commercial viability of the discovery. George Kirkland, Chevron executive vice president, Global Upstream and Gas, said, “This is a very significant discovery in the lower tertiary trend, where Chevron is the largest leaseholder. Continuing our success at the Jack well, Buckskin reinforces the trend’s potential to pro...

June 25th, 2019 Repsol and LLOG Exploration Offshore today announced the start of oil production from the ultra-deepwater Buckskin project located in the Keathley Canyon area of the Gulf of Mexico, earlier than anticipated and with a 60% reduction in cost from the original development plan.  The achievement is a successful demonstration of lean operations that the company has rolled out globally to increase the efficiency of exploration and production projects through the use of technology, capital and cost discipline, standardized procedures and synergies with partners, building a long-term sustainable business regardless of the volatility of oil and gas prices.  Once fully established, the phase one production rate at Buckskin is anticipated to reach 30,000 barrels of oil per day.  Discovered by Repsol in 2009 at a depth of 28,750 feet (8,763 meters), the original Buckskin development project was paused for further analysis after the initial economics did not guarantee...

18th Apr 22 Repsol Sinopec Resources UK Limited today announced that the Golden Eagle, Piper and Claymore field owners have executed new agreements reaffirming their commitment to export produced oil to the Flotta Terminal until end of field life in the 2030s. This commitment to support the longevity of the terminal underpins a variety of growth opportunities in the wider area, including renewed drilling and several third party tie-backs. All field owners have recently completed successful drilling programmes to increase production volumes and are actively engaged with a number of third parties that are considering the use of the offshore facilities. Repsol Sinopec, along with its partners, is also exploring the opportunity to develop an industrial scale hydrogen hub on the island of Flotta. It would utilise a repurposed area of the existing terminal to create a green hydrogen hub powered by offshore wind projects in the seas to the west of Orkney; coexisting with oil and gas operatio...

16th Dec 22 Repsol Sinopec is pleased to announce it has awarded a decommissioning contract to Liberty Industrial Ltd (Liberty) for the decontamination, demolition and site remediation of Nigg Oil Terminal . Planning and engineering work will begin in December 2022, with decommissioning activity commencing in 2023 and expected to continue until 2025. The site will be handed back to the leaseholder (Global Energy Group) at the end of 2025. The Nigg Oil Terminal was commissioned in 1981 by the British National Oil Corporation as part of the Beatrice complex development. The large site spreads across 75 acres and consists of a large-scale crude oil process, storage and export facility that will require decontamination prior to the demolition and site remediation process. The project will be an integrated effort between the Repsol Sinopec project and site teams, who harbour the history and knowledge of the work site, and the decommissioning specialist contractor Liberty to ensure all haza...

12, Mar 20 We have today posted on our website an Environmental Statement for public consultation on the proposed development of the Tain field, Licence P.983.Tain, discovered in 2005, lies in block 13/23b in the Outer Moray Firth. The field was fully appraised via two sidetracks from the original discovery well in 2005 and a further appraisal well drilled in 2008. The field is approximately 19 Km N of the Bleo Holm FPSO which currently serves the Blake and Ross fields . Tain is jointly owned by Repsol Sinopec Resources UK Limited (50% equity) and RockRose UKCS4 Limited (50% equity) and operated by Repsol Sinopec Resources UK Current development plan remains subject to partner, shareholder and regulatory approval The recommended development concept includes two deviated production wells, with production routed to the Bleo Holm FPSO via a new 19 km pipeline with associated gas lift line and control/chemical injection umbilical Expected production is in the region of 10 million barrels w...

28th Jun 17 First gas has been delivered on schedule from the Cayley field, the third and final new discovery to be brought on stream during the major redevelopment of the Montrose Area in the Central North Sea operated by Repsol Sinopec Resources UK. Gross incremental production from Cayley, Godwin and Shaw (brought onstream in May) is expected to peak at 40,000 boepd. This will extend the life of the Montrose facilities, which were installed in 1976, to beyond 2030. The Montrose Area Redevelopment (MAR) is a major capital project that significantly enhances the long term Montrose Area infrastructure. The project incorporates the development of three new fields - Godwin, Cayley and Shaw - and a new bridge-linked production platform (BLP) connected to the Montrose Alpha to provide additional process and plant support facilities. The Godwin field has already been developed via an extended reach well from the Arbroath platform. The Cayley and Shaw fields have been developed as subsea ti...

27th March 2017 First oil has been confirmed from the Maersk Oil-operated Flyndre field, located 25km northeast of the Clyde field in the Central North Sea, 280km from Aberdeen. Flyndre, which straddles the UK and Norwegian North Sea boundary and was discovered in 1974, has been developed as a tieback to Repsol Sinopec Resources UK’s existing Clyde platform with a single production well. Georg Vidnes, Clyde Asset Manager said: “This is a significant achievement for us and, importantly, allows us to maximise economic recovery from the Clyde field. We anticipate that the additional production from Flyndre will extend the life of Clyde well into the next decade.” Production from the Flyndre field is expected to peak at around 10,000 bopd with the field expected to produce until at least 2023. Bill Dunnett, Managing Director added: “Congratulations to the project team, everyone on Clyde and our partners at Maersk Oil. This is an important landmark in the ongoing transformation of our...

9th May 2017 First oil has begun to flow from the Shaw field, part of the major redevelopment of the Montrose Area in the Central North Sea operated by Repsol Sinopec Resources UK. The Montrose Area Redevelopment (MAR) is a major capital project that significantly enhances the long term Montrose Area infrastructure. The project incorporates the development of three new fields - Godwin, Cayley and Shaw - and a new bridge-linked production platform (BLP) connected to the Montrose Alpha to provide additional process and plant support facilities. The Godwin field has been developed via an extended reach well from the Arbroath platform. The Cayley and Shaw fields have been developed as subsea tie-backs to the BLP. Shaw production will be followed by Cayley by the end of Q2 2017, with gross incremental production expected to peak at up to 40,000 barrels of oil equivalent a day. The project overall is expected to unlock up to 100 million boe of additional reserves. Bill Dunnett, Managing Di...

11th May 2016 The Montrose Area Redevelopment (MAR) in the UK North Sea has reached a major milestone with the successful installation of the new Montrose Bridge Linked Platform. The 10,500 tonnes topsides was placed on the jacket by the SSCV Thialf crane vessel, marking the next phase of a project that will unlock an additional 100million boe of reserves and extend the life of the Montrose Area to beyond 2030. Installation of the topsides was followed by installation of the bridge linking it to the Montrose Alpha platform, and of the flare boom. Work will now on the commissioning of the plant and integration of the wells, with first production from the Shaw field expected during the first quarter of 2017. Bill Dunnett, Managing Director of Repsol Sinopec Resources UK Limited (expected to rebrand imminently from Talisman Sinopec Energy UK) said: “We’re very pleased to be able to report a safe and efficient installation of the new bridge-linked platform. This is a major step forward f...

January 18, 2002 CNOOC Limited announced today that the group has agreed with the Repsol-YPF group to acquire 9 Repsol subsidiaries ("Target Companies") owning working interests in five oil and gas properties in Indonesia. The total consideration shall, subject to adjustment, be US$585 million in cash. The acquisition is pending customary closing conditions. The main business of the Target Companies is the exploration, development and production of oil and gas offshore and onshore Indonesia. The acquisition will make CNOOC Limited the largest offshore oil producer in Indonesia. Estimated net working interest proved reserves to be acquired total approximately 360 million barrels-of-oil equivalent.  The assets to be acquired include  * an aggregate 65.34% interest in the Southeast Sumatra PSC ,  * an aggregate 36.72% interest in the Offshore Northwest Java PSC,  * a 25.00% interest in the West Madura PSC ,  * a 50.00% interest in the Poleng TAC and  * a 16.7...

03/15/2017 Total has started up production from the Moho Nord deep offshore project , located 75 kilometers offshore Pointe-Noire in the Republic of the Congo. Operated by the Group, the project has a production capacity of 100,000 barrels of oil equivalent per day. “Moho Nord is the biggest oil development to date in the Republic of the Congo. A showcase for Total’s deep offshore operational excellence, it consolidates our leading position in Africa.” stated Arnaud Breuillac, President, Exploration & Production at Total. “Moho Nord will contribute to the reinforcement of the cash flow of the Group and to its production growth.” The Moho Nord field is developed through 34 wells tied back to a new tension leg platform, the first for Total in Africa, and to Likouf, a new floating production unit. The oil is processed on Likouf and then exported by pipeline to the Djeno onshore terminal, also operated by Total. The facilities are designed to minimize their environmental footprint. ...