Murphy Oil Co. Ltd. (MOCL), the Canadian subsidiary of Murphy Oil Corp., has agreed to acquire operated and nonoperated working interest of production, acreage, infrastructure, and facilities in Kaybob Duvernay area and liquids-rich Montney area in Alberta from Athabasca Oil Corp. for $475 million (Can.). The two firms are forming a joint venture to develop […]
Proposed BSEE well control rule may stifle gulf activity, study finds
A federal rule for offshore oil and gas operations could have bigger adverse impacts than the US Bureau of Safety and Environmental Enforcement projected when it proposed the regulation in April 2015, the Gulf Economic Survival Team announced. Source: News
Petrobras to restructure, shed senior management
Petroleo Brasileiro SA (Petrobras) said it has approved a new organizational structure and governance model “as part of the company’s response to the new reality of the oil and gas sector.” Source: News
Leviathan field group signs gas sales deal
Partners in giant Leviathan natural gas field awaiting development in deep water offshore Israel have signed an agreement to sell as much as 6 billion cu m of gas to an Israeli power generator. Source: News
Dutch firm farms into Malaysian PSCs
Wholly owned subsidiaries of DYAS BV, a privately owned Dutch company, has agreed with Lundin Malaysia BV to farm into three production-sharing contracts covering acreage offshore Malaysia. Source: News
Alberta royalty report eases industry worry
Alberta’s Royalty Review Advisory Panel has eased concerns of the oil and gas industry by recommending new attention to cost rather than aggressive rate increases. Source: News
BP makes changes to senior executive team
BP PLC has appointed Lamar McKay to the new position of deputy group chief executive as part of the company’s reorganization that will follow the May 1 retirement of Katrina Landis, executive vice-president of corporate business activities. Source: News
BPTT to invest $1.5 billion in Trinidad and Tobago this year
BP Trinidad & Tobago (BPTT) has reported that it will invest $1.5 billion in Trinidad and Tobago this year in spite of falling oil prices and declining revenue, BPTT Pres. Norman Christie said. Source: News
CNOOC begins production from two more Beibu Gulf fields
CNOOC Ltd. has started oil production from the Weizhou 12-2 joint development project and Weizhou 11-4 North Phase II project in the Beibu Gulf basin of the South China Sea. Source: News
Chevron’s Wheatstone project faces 6-month delay
Chevron Australia has confirmed a major delay of 6 months to the start-up of its 8.9 million-tonne/year Wheatstone LNG project in Western Australia. Source: News