TGS has achieved five milestones accelerating the company’s growth strategy, the company said on Sept. 16.
Drilled in 2,003 m (6,572 ft) of water by the Noble Tom Madden drillship, the Tripletail-1 well hit about 33 m of high-quality oil-bearing sandstone reservoir, Exxon Mobil said.
Although the discovery was smaller than initially estimated, it offers Tullow and its partners better understanding of the block to decide on further exploration drilling and development of production, Tullow CEO Paul McDade said.
XTO Permian completions, Woodford producers and Shell to explore for shale in China top this week’s drilling activity highlights from around the world.
The decision by three magistrates from the Council of State, which is tasked with ruling on administrative matters, comes amid a larger case about the use of hydraulic fracturing, which breaks up rock formations with pressurized liquid.
The companies also pledged a minimum level of investment in the areas, all of which either failed to receive bids in previous auctions or were returned to the state after unsuccessful exploration.
Petrobras will sell 100% of 27 E&P concessions in the so-called Polo Cricare area in Espirito Santo, the company said.
Oil prices weakened on Sept. 2 after new tariffs imposed by the United States and China came into force, raising concerns about a further hit to global growth and demand for crude.
Achieving the goal requires optimizing and redesigning processes, training and engaging teams, and implementing and customizing technologies, a Petrobras executive says.