Hess agreed to sell its stake in the Shenzi Field in the deepwater Gulf of Mexico to field operator BHP as it looks to deepen its investment offshore Guyana.
Proceeds from its farm-down to Shell enables Kosmos Energy to accelerate high-graded exploration opportunities in “proven basins that offer superior returns with shorter payback,” CEO Andrew Inglis says.
French energy group Total and its partners have launched the third phase of development for the Mero deep offshore oil project off the coast of Brazil.
Following the acquisition, Woodside Petroleum will have to foot a bigger share of the $4.2 billion development cost for the Sangomar oil project in Senegal.
An analysis reveals the tipping point between commercial viability of fixed and floating foundations could be at a greater water depth than previously expected.
In a securities filing July 24, Petrobras said the three new FPSOs were part of its development plans for the asset, which aim at a total of 12 floating platforms installed by the end of the decade.
The application of oil and gas know-how to dynamic power cables is transmitting success to deepwater windfarms.
Results from four Barnett Shale discoveries made by Lime Rock Resources plus a new development test planned for LLOG Exploration’s Who Dat Field in the Gulf of Mexico top this week’s drilling activity highlights from around the world.
The company plans to launch the leasing tender for the floating platform, known as an FPSO, by the end of August, sources say.
The companies that operate offshore drilling rigs for major oil producers face a second wave of bankruptcies in four years amid a historic drop in energy prices that likely will leave surviving drillers more closely tied to big oil firms.