AWE Ltd. and Origin Energy Ltd., both of Sydney, have given financial approval for the first stage of the 484-bcf Waitsia gas field development onshore Perth basin in Western Australia. Source: News
Statoil lets contracts for work on 20 NCS installations
Statoil ASA has let two 15-year contracts to Beerenberg Corp. AS and Prezioso Linjebygg AS with an estimated value of 11 billion kroner for insulation, scaffolding, and surface treatment services for 20 of the company’s 29 installations on the Norwegian continental shelf. Source: News
Valeura’s Bati Gurgen-1 finds gas in Turkey’s Thrace basin
Valeura Energy Inc.’s first exploration well on its wholly owned and operated Banarli license flowed at an initial restricted rate of 3.4 MMcfd on a 24-hr production test. Originally awarded in April 2014, the 118,598-acre license is near the center and deepest part of the basin. Source: News
MARKET WATCH: NYMEX oil prices drop on global geopolitical, economic worries
Light, sweet crude prices for February delivery fell modestly on the New York market Jan. 4 while analysts and traders watched escalating tensions in the Middle East, violence in Libya, and volatility on the Chinese stock market. Source: News
Moody’s: Firms to see constrained spending, heightened risk in 2016
Oversupply in 2016 will continue to weigh down on both the global oil markets and the US natural gas market, resulting in a noticeable decline in capital spending and a rise in defaults among firms in the sector, predicts Moody’s Investor Service. Source: News
HollyFrontier wraps yearend planned refinery maintenance
US refiner HollyFrontier Corp., Dallas, has concluded planned maintenance activities scheduled during fourth-quarter 2015 for its refineries in El Dorado, Kan.; Cheyenne, Wyo.; and Tulsa. Source: News
Looking back, looking ahead
An otherwise frustrating 2015 ended triumphantly when the 40-year-old ban on exports of US-produced crude oil ended as part of fiscal 2016 omnibus budget bill. But it still was possible to wonder if the US oil and gas industry was becoming a victim of its own success. Source: News
Opposition persists to vital agreement on gas work off Israel
In Israel, does the fat lady ever sing? Source: News
Cairn tests oil offshore Senegal
Spudded in November 2015, Cairn’s SNE-2 appraisal well was successfully tested in two intervals offshore Senegal on the Sangomar Block. Source: News
Fuzzy logic addresses turbine vibration on Algerian gas line
Traditional techniques for addressing vibration in gas turbines are unable to adapt to complex modern operating environments. Source: News