Oil & Gas News

ExxonMobil and its partners says they will further invest in Block 15 offshore Angola to increase production as part of an agreement with Angola’s recently established National Agency for Petroleum, Gas and Biofuels. As part of the agreement, Sonangol, Angola’s state oil company, will receive a 10 percent equity interest.

TDI-Brooks International, Inc., along with Maxon Consulting (who provides the regulatory and interpretative reporting components), has completed two Environmental Baseline Studies (EBS) for ExxonMobil offshore Guyana. The first program in South Kaieteur consisted of 30 water samples (10 locations x 3 depths), Conductivity, Temperature and Depth (CTD) at 10 locations, sediment samples and drop camera photography. The second program in Southeast Stabroek consisted of 60 water samples (20 locations x 3 water depths) with Conductivity, Temperature and Depth (CTD), sediment sampling (box cores) and drop camera photography.

Eni has made the fifth oil discovery in one year in Block 15/06, in Angola’s deep offshore. The well has been drilled on the Agidigbo exploration prospect, and analysis of post drill results indicate between 300 and 400 million barrels of light oil in place.

Current Events Have Huge Impacts on Price Ranges

Oil Market:

Crude oil prices are range-bound. Yes, they bob up and down like a cork in the ocean, but all that movement does little but provide traders with miniscule profit-taking opportunities. In reality, oil prices are waiting for events to unfold that will provide clarity about future oil supply and demand.

KONGSBERG systems will be used to optimize operations on the second newbuild Awilco Drilling Owned Moss CS60Eco semi-submersible drilling rig being built by Singapore’s Keppel Offshore & Marine.

Kongsberg Maritime has won its first milestone orders for a major project combining KONGSBERG control and electrical systems with power, propulsion and mooring solutions. The entire deal is valued at approximately MNOK 350 total.

Sentinel Midstream, LLC, through its subsidiary Texas GulfLink, LLC, has announced that on May 30, it submitted a license application with the U.S. Maritime Administration (MARAD) to construct and operate a deepwater crude oil export facility. The port will be located off the coast of Freeport, Texas, and will be capable of fully loading Very Large Crude Carrier (VLCC) vessels.

Eni, through its subsidiary Eni Mozambico, has acquired rights to explore and develop offshore blocks A5-B, Z5-C and Z5-D, located in the deep waters of Angoche and Zambezi Basins. Through a farm-in agreement, signed with ExxonMobil Moçambique Exploration & Production Limitada (ExxonMobil) and authorized by Mozambican institutions, Eni acquires a 10% stake in the three blocks.

The Petroleum Terminal (T-OIL) of Açu Petróleo (a joint venture between Prumo Logística and Oiltanking), located in the Complex of Port of Açu, in north of Rio de Janeiro, held – on the 24th and 25th of May - the first Petrobras transhipment operation through a Suezmax vessel, with the mooring of the vessels Henrique Dias (exporter) and Brasil 2014 (reliever). The operation refers to the contract signed with the state company this year, on March, and has initial duration of 2 years.

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