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Equinor announce first oil from Mariner field

Equinor announce first oil from Mariner field

August 15, 2019 No Comments

Equinor and partners are proud to announce first oil from the Mariner field in the UK North Sea today. The field is expected to produce more than 300 million barrels of oil over the next 30 years. “The start-up of Mariner, the first Equinor-operated oil field on the UKCS, establishes our foothold in the UK […]

Aker Solutions and FSubsea to Create FASTSubsea

Aker Solutions and FSubsea to Create FASTSubsea

April 10, 2019 No Comments

Aker Solutions and FSubsea have agreed to create FASTSubsea to help operators increase oil recovery in a faster, simpler and more environmentally friendly way. Multiphase subsea pumping technology has the potential to increase oil recovery rates by more than 20 percent, but cost, space limitations and sometimes complex solutions mean multiphase pumps are installed in […]

BP starts up Clair Ridge production

BP starts up Clair Ridge production

November 23, 2018 No Comments

BP, on behalf of co-venturers Shell, Chevron and ConocoPhillips, today announced first oil production from the giant Clair Ridge project in the West of Shetland region offshore UK. Clair Ridge is the second phase of development of the Clair field, 75 kilometres West of Shetland. The field, which was discovered in 1977, has an estimated […]

US Federal Energy Regulatory Commission Notice of Proposed Rulemaking on the Tax Cuts

US Federal Energy Regulatory Commission Notice of Proposed Rulemaking on the Tax Cuts

March 16, 2018 No Comments

Kinder Morgan, Inc. (NYSE: KMI) released the following statement following the announcement by the Federal Energy Regulatory Commission (FERC): Kinder Morgan is aware of the FERC announcement today of a notice of proposed rule-making (NOPR) on the impact of the Tax Cuts and Jobs Act on FERC-regulated rates for natural gas and oil pipelines. As […]

Statoil Investing in 25 more years on the Snorre field

Statoil Investing in 25 more years on the Snorre field

December 21, 2017 No Comments

Statoil is, on behalf of the Snorre Unit partners, submitting the plan for development and operation (PDO) of the Snorre Expansion Project to the authorities. At the same time, contracts worth up to NOK 9 billion will be awarded. The investment will increase recovery from the Snorre field by close to 200 million barrels. “Snorre […]

Three Approaches for Estimating Recovery Factors in Carbon Dioxide Enhanced Oil Recovery

October 12, 2017 No Comments

The U.S. Geological Survey has evaluated three methods for estimating how much oil and gas could be produced by injecting carbon dioxide (CO2) into petroleum reservoirs. The three methods evaluated are: reservoir computer modeling using CO2 Prophet software reservoir decline curve analysis based on historic reservoir production data a review of scientific literature that describes […]

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Hess Reports Estimated Results For 2nd QTR. 2017

Hess Reports Estimated Results For 2nd QTR. 2017

July 26, 2017 No Comments

Hess Corporation (NYSE: HES) reported a net loss of $449 million, or $1.46 per common share, in the second quarter of 2017 compared with a net loss of $392 million, or $1.29 per common share, in the second quarter of 2016, reflecting a lower effective tax rate in 2017 from the required change in deferred […]

Occidental Petroleum Monetizes Non-Strategic Permian Resources Acreage

Occidental Petroleum Monetizes Non-Strategic Permian Resources Acreage

June 20, 2017 No Comments

Occidental Petroleum Corporation (NYSE:OXY) announced that it has agreed to a number of purchase and sale transactions in the Permian Basin. On a combined basis, these transactions require no net cash outlay and add approximately 3,500 barrels of oil equivalent per day to the Company’s production. Occidental will reduce its Permian Resources position by 13,000 […]

Hess Announces Sale of Its Enhanced Oil Recovery Assets in the Permian Basin

Hess Announces Sale of Its Enhanced Oil Recovery Assets in the Permian Basin

June 19, 2017 No Comments

Hess Corporation (NYSE:HES) today announced it has entered into an agreement to sell its interests in enhanced oil recovery (EOR) assets in the Permian Basin to Occidental Petroleum Corporation (NYSE:OXY) for a total consideration of $600 million, effective June 1, 2017. Proceeds from the sale will be used to fund the company’s strong growth opportunities. […]

Hibiscus Petroleum To Acquire Shell’s Interests And Operatorship In The North Sabah EOR PSC

Hibiscus Petroleum To Acquire Shell’s Interests And Operatorship In The North Sabah EOR PSC

October 13, 2016 No Comments

Hibiscus Petroleum Berhad (“Hibiscus Petroleum” or “the Company” or “the Group”) announced that its indirect wholly-owned subsidiary, SEA Hibiscus Sdn Bhd (“SEA Hibiscus”) has entered into a conditional sale and purchase agreement with Sabah Shell Petroleum Company Limited and Shell Sabah Selatan Sdn Bhd (collectively “Shell”) to acquire Shell’s entire fifty percent participating interests in […]

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