Lukoil said testing of its fourth well in Eridu oil field on Block 10 in southern Iraq confirmed the geologic model. The discovery well, Eridu 1, flowed on test during early 2017 at more than 8,000 b/d of oil from the Middle Cretaceous Mishrif formation. Source: News
OVL tests second strike on Colombian block
ONGC Videsh Ltd. (OVL) is testing an oil discovery on trend with its 2017 Mariposa-1 oil strike on Block CPO-5 in Colombia and plans further drilling. The operator reported earlier this month that it had logged 284 ft of gross oil pay in the Lower Sands (LS-3) unit of the Cretaceous Une formation in its Indico-1 […]
ONGC lets rig contract to Shelf Drilling
India’s Oil & Natural Gas Corp. (ONGC) has let a 3-year contract to Shelf Drilling Ltd., Dubai, for use of the Ron Tappmeyer jack up drilling rig in Mumbai High, offshore India. The oil field lies 150 km offshore Mumbai in 70 m of water. Source: News
Talos Energy to proceed with Zama appraisal
Talos Energy Inc. will move ahead with an updip penetration in the Zama reservoir offshore Mexico following initial phase results that help to derisk Zama and the remainder of the Block 7 inventory, the company said. Source: News
CAP lets contract for Indonesian petrochemical complex
PT Chandra Asri Petrochemical Tbk. (CAP) subsidiary PT Chandra Asri Perkasa (CAP2) has let an additional contract to McDermott International Inc. to provide process technology for CAP2’s planned petrochemical complex in Indonesia. Source: News
Ukraine to outline details of licensing rounds
The Ukrainian government plans a series of licensing rounds for oil and natural gas blocks as the nation seeks to end its dependence on imported gas. International oil companies are being invited to participate in upcoming auctions and production-sharing agreements. Source: News
EIA: US crude inventories up 8 million bbl
US crude oil inventories for the week ended Jan. 18, excluding the Strategic Petroleum Reserve, increased by 8 million bbl from the previous week, data from the US Energy Information Administration showed. Source: News
MARKET WATCH: Crude oil benchmarks decline on world economic concerns
Light, sweet crude oil prices fell modestly on the New York market Jan. 23 as did Brent crude oil prices in London. Analysts attributed the drop to lingering concerns about slowing world economic-growth concerns, which could slow oil demand growth. Source: News
Gastar emerges from Chapter 11 as private company
Gastar Exploration Inc. has emerged from Chapter 11 as Gastar Exploration LLC, a private company. Source: News
CAPP seeks Alberta energy-policy changes
In a campaign it calls “Vote Energy,” the Canadian Association of Petroleum Producers calls for action in Alberta on market access, regulatory competitiveness, climate policy, and fiscal and economic policy. Among its recommendations are to complete six oil-export pipelines, including three now stalled. The province, hurt by transportation bottlenecks lowering the value of bitumen produced […]