PTTEP to buy Shell’s Bongkot interests

PTT Exploration & Production Public Co. Ltd. and PTTEP International Ltd. have agreed to acquire the 22.2222% interest in Bongkot natural gas field in the Gulf of Thailand held by affiliates of Royal Dutch Shell PLC for $750 million. Source: News


Erin Energy finds multiple stacked sands in Miocene off Nigeria

Erin Energy Corp., Houston, has discovered hydrocarbons in the Miocene formation based on preliminary evaluation after drilling the Oyo-NW well 9½ km northwest of Oyo Central field on Block 120 offshore Nigeria.   Source: News


Service company confirms contract for SOCAR’s Baku refinery revamp

Tecnicas Reunidas of Milan has confirmed its previously awarded contract by State Oil Co. of Azerbaijan Republic, through its joint-venture contractor SOCAR-KBR, for work on the modernization and expansion now under way at the Heydar Aliyev refinery at Baku.  Source: News


CNOOC Ltd. sees production gain in 2018

CNOOC Ltd. expects its worldwide oil and gas production to increase by as much as 2.3% in 2018, during which it plans to drill 132 exploration wells and acquire 19,000 sq km of 3D seismic data.  Source: News


MARKET WATCH: NYMEX oil prices rise on drop in US gasoline supplies

Light, sweet crude oil for March delivery on the New York market gained modestly on Jan. 31 pending release of the US government’s weekly inventory on oil and products, which showed an unexpected fall in gasoline supplies. The US oil benchmark gained in early Feb. 1 trading. Source: News