Eni furthers Mediterranean exploration

Eni SPA is advancing exploration in the Mediterranean in the Contract Area D offshore Libya. The company spudded its B1-16/3 well on Jan. 4 in 518 ft of water about 140 km northwest of Tripoli and 5 km north of Bahr Essalam gas field. The 9,865-ft well’s primary objective is the Metlaoui group reservoir, the […]

BOEM extends offshore liability requirement implementation

The US Bureau of Ocean Energy Management extended the deadline by 6 months for offshore oil and gas operators to implement a risk management and financial assurance program for decommissioning facilities under a notice to lessees it issued in September because of liability questions that have emerged. Source: News

Total hikes stake in Tullow Ugandan project

Total SA said it expects “a project sanction in the near future” after agreeing to pay Tullow Oil PLC $900 million for a 21.57% interest the companies’ Lake Albert joint venture in Uganda. Source: News

BHI: Global rig count added 94 units in December

The average global rig count gained 94 units month-over-month in December to total 1,772, with only modest movement outside the resurgent US and Canada, Baker Hughes Inc. reported. The count was down 197 compared with the December 2015 total. Source: News

EPA proposes adding gas processors to Toxic Releases Inventory rule

The US Environmental Protection Agency proposed adding natural gas processing facilities, including those that extract gas liquids, to reporting requirements under Section 313 of the Emergency Planning and Community Right-to-Know Act (EPCRA), commonly known as the Toxics Release Inventory (TRI). Source: News

MARKET WATCH: NYMEX, Brent crude oil prices fall after higher rig count

The light, sweet crude oil contract for February delivery rose modestly on the New York market Jan. 6 to settle at nearly $54/bbl while the Brent crude oil price for March delivery rose on the London market to settle above $57/bbl. Source: News