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October 2014

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Pacific Rubiales Pemex to jointly explore oil and gas business opportunities in Mexico
20 October 2014 Pacific Rubiales Energy has signed a three-year memorandum of understanding (MoU) and cooperation with Petróleos Mexicanos and its subsidiary entities (Pemex) to jointly explore oil and...

Oil production starts at Umm Lulu oil field, offshore Abu Dhabi
20 October 2014 Oil production has started from the Umm Lulu oil field, offshore Abu Dhabi, the United Arab Emirates (UAE)....

Oryx Petroleum acquires 85% interest in AGC Central licence
17 October 2014 Oryx Petroleum has acquired an 85% interest in the AGC Central licence, located in the joint development offshore area between Senegal and Guinea Bissau...

Oil price increases to $86
17 October 2014 The price of Brent crude has increased slightly to approximately $86 a barrel, after registering four-year lows in recent days....

Wood Group Kenny secures FEED contract for Peterhead CCS project
17 October 2014 Wood Group Kenny has secured a contract to support the Peterhead Carbon Capture and Storage (CCS) project in Aberdeenshire,...

Expro wins contract to support Ichthys LNG project, offshore Australia
16 October 2014 UK-based oil field services provider Expro has won a contract worth more than $50m to work on Inpex-operated Ichthys liquefied natural gas (LNG) project, offshore Australia....

Oil price declines to four-year low on global economic concerns
16 October 2014 The price of Brent crude hit a four-year low today, dropping by more than $1 to $83 a barrel....

Heerema Hartlepool to support Maersk Oil UK’s Culzean project
16 October 2014 Heerema Hartlepool has secured a contract to support Maersk Oil North Sea UK’s Culzean development...

Brent crude oil price plummets below $84 to 47-month low due to oversupply
15 October 2014 The price of Brent crude plummeted below $84 a barrel today after the International Energy Agency (IEA) cut oil demand growth...

Statoil discovers more gas on block 2, offshore Tanzania
15 October 2014 Statoil has made its seventh discovery in block 2, offshore Tanzania, with the Giligiliani-1 exploration well finding one trillion cubic feet (tcf) of natural gas in...

Woodside farms into Tilapia production sharing contract, offshore Cameroon
15 October 2014 Australian energy firm Woodside Petroleum has agreed to acquire a 30% non-operating interest in the 3,875km² block, located within the Douala Basin, offshore south-west...

Ample supply causes oil to decline to just above $88
14 October 2014 The price of Brent crude declined to just above $88 a barrel on Tuesday due to ample supply, despite slim chances of a cut in oil production by Organization of the Petroleum Exporting...

Statoil divests 15.5% stake in Shah Deniz field for $2.25bn
14 October 2014 Norwegian energy firm Statoil has sold its 15.5% stake in the Shah Deniz field in Azerbaijan to Malaysia's Petroliam Nasional Berhad (Petronas) for...

Eni signs production sharing contracts for two Vietnam offshore exploration blocks
14 October 2014 Italian energy firm Eni has signed two production sharing contracts (PSCs) to explore two blocks offshore...

Nautronix wins contract for NASNet underwater positioning system in Norway
13 October 2014 Scotland-headquartered Nautronix has secured a contract to deliver a NASNet underwater positioning system for Subsea...

Oil slumps below $88 on signs of rising output from Middle East producers
13 October 2014 The price of Brent crude oil slumped below $88 a barrel today, a four-year low, due to signs of rising output from major producers in the Middle...

Liberia’s current bid round sparks interest among global oil firms, says GlobalData analyst
13 October 2014 Hydrocarbon potential is sparking interest in Liberia's current bid round despite challenges created by the Ebola virus, according to a GlobalData...

Shell awards offshore weather forecasting contract to MeteoGroup
10 October 2014 MeteoGroup has secured a contract to provide a weather forecasting service to Shell's offshore operations in the UK, Ireland, Norway and the...

Excess supply pushes Brent price below $90
10 October 2014 Brent crude futures slumped to a four-year low today, below $90 a barrel, as increasing supply and a poor worldwide economic outlook proved too much pressure for oil...

Decommissioning of North Sea oil and gas projects in UKCS may cost £30bn by 2040: Report
10 October 2014 A new report prepared by Arup has revealed that work on decommissioning of the North Sea oil and gas projects in the UK Continental Shelf (UKCS) could cost about £30bn by...

Price of Brent crude inches towards $92 a barrel
09 October 2014 The price of Brent crude inched towards $92 a barrel, despite hitting a 27-month low in recent...


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