Thursday, February 27, 2020

Gas Resources News

Alaska's North Slope Holds 3.6 Bn Barrels Oil

Image: USGS

U.S. Geological Survey (USGS) department estimated that Alaska's Central North Slope 3.6 billion barrels of oil. Assessment also included estimate for 8.9 trillion cubic feet of natural gas.This assessment does not include discoveries made by industry between 2013 and 2017.“Alaska is synonymous with energy, and this assessment just reinforces that,” said USGS Director Jim Reilly.

Exxon to Load First Crude from Guyana This Weekend

The Liza Phase 1 development project utilizes the Liza Destiny floating, production, storage and offloading (FPSO) vessel moored approximately 120 miles offshore Guyana, with four undersea drill centers supporting 17 wells. (Photo: Hess Corp)

The first-ever cargo of Guyana's crude for export is scheduled to begin loading this weekend so the oil can be processed at Exxon Mobil's refining system, the company told Reuters on Friday.Exxon has so far made 15 discoveries of oil reserves in Guyana, turning a risky exploration venture into one of the world's most promising oil mega-projects.

Gassco Urges to Boost Barents Sea Gas Export

Minister of Petroleum and Energy Sylvi Listhaug receives the report on gas transport from CEO of Gassco, Frode Leversund (left). Kjell Agnar Dragvik, Director Analyses and framework at the NPD, also attended the presentation. Photo: Norwegian Petroleum Directorate (NPD)

Norwegian state-owned natural gas pipelines operator Gassco published a study saying that  it could be profitable to increase the transport capacity for gas.According to the study regarding the transport of gas from the southern Barents Sea several gas transport options from the Barents Sea, including a new pipeline, could prove profitable with today’s known resources.The report…

Big Oil to Bid for Guyana Crude Cargoes

(Photo: SBM Offshore)

Large oil companies Exxon Mobil, Hess Corp, CNOOC, BP, Chevron, Total, and Eni are expected to present bids to buy the first three cargoes of Liza crude offered by Guyana's government, the South American country's director of energy said on Monday.A consortium of Exxon, Hess, and China's CNOOC has discovered more than 6 billion barrels of recoverable oil and gas resources off the country's coast.

Guyana Seeking Oil Buyers

© Quatrox Production / Adobe Stock

Guyana has invited companies interested in purchasing the first three deliveries of the government's share of the country's looming oil production to present bids this week, the government said in a statement on Sunday.The government will later seek proposals from companies interested in a longer-term contract to market Guyanese crude, the statement said.U.S.

U.S. Needs to Revive Shallow-Water GoM E&P

Image: Bureau of Safety and Environmental Enforcement (BSEE)

The US should define the Gulf of Mexico Shallow Water Province as a distinct entity to avoid stranding more than $20 billion of its oil and gas resource, said a new research.According to a research from the Bureau of Safety and Environmental Enforcement (BSEE) and Bureau of Ocean Energy Management (BOEM) the GOM Shallow Water Province…

Oil Is Our Gold and We Aim to Use All of It -ADNOC

© mohammed / Adobe Stock

Abu Dhabi National Oil Co aims to exhaust its vast oil and gas reserves even as many consumers switch to cleaner sources of energy, a senior executive in the Gulf oil company said.The world's transition away from fossil fuel in an effort to slash greenhouse gas emissions is expected to accelerate in coming decades, leaving many oil…

Qilak LNG, ExxonMobil Pact on Gas Supply

Image courtesy: Qilak LNG

Alaska-based Qilak LNG announced that a Heads of Agreement (HOA) has been entered into with ExxonMobil Alaska Production regarding the potential supply of natural gas from the Point Thomson field to Qilak LNG's proposed Alaska North Slope liquefied natural gas (LNG) export project (Qilak LNG 1 Project).According to the Lloyds Energy company…

Transborders Signs up MOL on FLNG Solution

Image: Transborders Energy

Perth-based company Transborders Energy has entered a Joint Study Agreement (JSA) to work with Japan's Mitsui OSK Lines (MOL) to together continue the development of its Floating LNG (FLNG) Solution and to pursue its deployment on a range of stranded offshore gas resource opportunities.Transborders’ FLNG Solution provides a pre-determined…

Total Closes Mozambique LNG Purchase

(Image: Total)

Total has completed the acquisition of Anadarko's 26.5% stake in Mozambique's liquefied natural gas (LNG) project for $3.9 billion, the French oil major said on Monday."Mozambique LNG is a one of a kind asset that perfectly fits with our strategy and expands our position in liquefied natural gas," Total chairman and CEO Patrick Pouyanne said in a statement.Anadarko…

Huge Opportunities in Norwegian Shelf

Image: Norwegian Petroleum Directorate

Even after more than 50 years, the Norwegian shelf still holds vast opportunities, says  Norwegian Petroleum Directorate (NPD).According to NPD's  2019 resource report on fields and discoveries, more than half of the estimated remaining resources on the Norwegian shelf have already been discovered. 85 per cent are located in the fields…

Vitol, ENH Form LNG Trading JV

Image: Vitol

Commodity trading company Vitol and the Mozambican state-owned oil and gas company ENH have formed ENH Energy Trading, a partnership focused on trading oil products.The Dutch energy and commodity trading company said in a press note that ENH Energy Trading will initially be owned 51% by ENH and 49% by Vitol. It is anticipated ENH’s…

Transborders Joins Forces with Osaka Gas

Image: Transborders

Perth-based Transborders Energy has signed a memorandum of understanding (MoU) for collaboration with Japan's Osaka Gas.The  MOU will facilitate information and knowledge sharing for both companies to evaluate projects that could commercialize stranded offshore gas resources based on Transborders’ FLNG Solution.Transborders’ FLNG Solution…

Schlumberger, WesternGeco to Provide E&P Data

The GAIA platform enables clients to manage their exploration portfolios in line with their corporate strategies. Image: Schlumberger

WesternGeco, the seismic and geophysical data solutions division of Schlumberger, has entered a strategic collaboration with IHS Markit, a global provider of information, analytics, and solutions.The collaboration will bring together data, technology, and expertise from two of the industry’s leading sources of exploration and production…

EOG Bags Offshore Ireland Licence

Image: Europa Oil & Gas

United Kingdom-based exploration and production company Europa Oil & Gas  (EOG) has been awarded a 15-year frontier exploration licence for an area in the Slyne Basin, offshore Ireland.The area includes Europa’s flagship Inishkea prospect, which lies immediately to the north-west of the producing Corrib gas field in the Corrib Field…

W African Firm Builds LNG Import Capacity

Pic courtesy: Equatorial Guinea LNG

Equatorial Guinea is set to construct the first liquefied natural gas (LNG) storage and regasification plant in West Africa, advancing efforts to monetize gas resources through the creation of a domestic gas-to-power infrastructure.Located at the Port of Akonikien, the landmark regasification plant will enable the storage, transportation and distribution of liquefied natural gas (LNG) to the country’s mainland…

​​​​BP Plans to Exit China's Shale Gas

European oil major BP plans to exit from two production sharing contracts (PSC) for projects drilling for shale gas in the southwestern Chinese province of Sichuan, three sources with the knowledge of the matter said this week.BP is the last of the international oil majors, including Royal Dutch Shell, Exxon Mobil, ConocoPhillips and ENI, to quit exploring for shale gas in China because of poor drilling results.

Occidental Agrees to Sell Anadarko Assets to Total

Image: Anadarko Petroleum

Texas-headquartered Occidental Petroleum has reached an agreement to sell Anadarko Petroleum's oil and gas assets in Africa to French oil major Total for $8.8 billion.The binding agreement with Occidental to acquire Anadarko’s assets in Africa (Algeria, Ghana, Mozambique, South Africa) is contingent on a successful completion of Occidental’s…

China, Philippines: 'Bigger Step' Possible Offshore

© Sasha Strekoza / Adobe Stock

Chinese President Xi Jinping said China and the Philippines could take a "bigger step" in the joint development of oil and gas resources in the South China Sea if they can "properly" handle their dispute over sovereignty.Xi made the remarks on Thursday in a meeting in Beijing with Philippine President Rodrigo Duterte, who has positioned himself as a friend of Beijing but has come under growing pressure at home t

Deepwater Leads in Discovered Oil and Gas

© alexpolo / Adobe Stock

Half of the 6.7 billion barrels of oil equivalent (boe) new conventional oil and gas discoveries in the first half of 2019 were deepwater finds, signalling a return for explorers to high-risk frontier deepwater plays, said analyst Rystad Energy.Year-to-date average monthly discovered volumes above 1.1 billion boe reflect an uptick of approximate 35% compared to the 827 million boe seen in 2018…