Work continues on the Kaombo oil development offshore Angola. Under a subcontract let by Technip SA to Fugro NV, the Dutch engineering firm will provide offshore deepwater survey and positioning services to a total of seven installation vessels and construction support vessels. Source: News
Egypt’s Zohr prospect could see first gas by 2017
A development plan approved by the Egyptian Ministry of Petroleum for the Zohr development in the Shorouk concession offshore Egypt could lead to natural gas production by the end of 2017. Source: News
Flowline system design contract let for Greater Western Flank project
Woodside Petroleum Ltd. has let a contract to Wood Group Kenny (WGK) for detailed design of the flowline system for the Greater Western Flank Phase 2 (GWF-2) on the North West Shelf offshore Western Australia. Source: News
Rosneft, PDVSA sign HOA for offshore natural gas project
OAO Rosneft and Petroleos de Venezuela SA (PDVSA) signed a heads of agreement to establish a joint venture for a natural gas project offshore Venezuela. Source: News
MARKET WATCH: NYMEX, Brent oil prices drop on supply concerns
Light, sweet crude oil prices for March delivery fell more than $1 Feb. 19 to close at under $30/bbl on the New York market while Brent prices for April delivery also fell more than $1 to close at slightly above $33/bbl. Source: News
Supreme Court issues stay of EPA's Clean Power Plan implementation
The US Supreme Court told the Environmental Protection Agency in a 5-4 vote to delay implementation of its Clean Power Plan until a lawsuit 27 states filed to challenge it can be heard. Source: News
Watching Government: Tying earthquakes to fracing
Oklahoma Corporation Commission Chairman Robert Anthony noticed one difference immediately at the Natural Gas Committee’s session on hydraulic fracturing at the National Association of Regulatory Utility Commissioners 2016 Winter Meeting from one at the NARUC Winter Meeting 6 years earlier. Source: News
Oklahoma outlines largest reduction plan yet for disposal wells
The Oklahoma Corporation Commission’s Oil and Gas Conservation Division (OGCD) announced its largest volume-reduction plan yet for oil and gas disposal wells in western Oklahoma’s Arbuckle formation in response to increased numbers of earthquakes. Source: News
BP: Fossil fuels to remain 'dominant form of energy' through 2035
Global energy demand between 2014 and 2035 is expected to rise 34%, an average of 1.4%/year, with fossil fuels remaining “the dominant form of energy over the period,” according to the 2016 edition of the BP Energy Outlook. Source: News
Today's lower prices don't doom future US LNG exports, panel says
Depressed natural gas prices now aren’t likely to affect future US LNG exports much because most projects won’t go into operation until 2020 when global markets have improved, speakers at an Atlantic Council (AC) forum agreed. Source: News