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Tag: Deep Water

BG Egypt suspends some development wells over price dispute – source

Posted: March 22, 2016 at 10:40 pm   /   Oil & Gas

BG Egypt has suspended work at some Egyptian development projects after it failed to agree with the government on the price of gas, an Egyptian General Petroleum Corp (EGPC) official told Reuters on Tuesday. “BG has stopped work at 9A+ and 9B after failure to reach an agreement on the fixed price to be paid […]

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Video: How a deep water well is drilled (Shell)

Posted: February 13, 2016 at 2:52 pm   /   Oil & Gas

Drilling wells is one of the most important activities in the process of finding hydrocarbon reservoirs and producing oil and gas from these reservoirs to meet our energy needs. This video by Shell explains the basics of how offshore deep water wells are drilled, including explanations and visualization of important components, processes and techniques that […]

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Wood Mackenzie: Deepwater Exploration Cutbacks May Come Back To Haunt Oil Drillers

Posted: February 13, 2016 at 2:51 pm   /   Oil & Gas

We expect 2016 exploration spend to be around half the 2014 peak, and it could fall even further next year. Quarterly losses, dividends cut, budgets slashed – oil companies are in survival mode. Protecting cash flow is a top priority, so why continue to spend on exploration? The primary long-term organic growth engine of the […]

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As Big Oil shrinks, boards plot different paths out of crisis

Posted: February 9, 2016 at 6:11 pm   /   Oil & Gas

As oil and gas companies cut ever-deeper into the bone to weather their worst downturn in decades, boards have adopted contrasting strategies to lead them out of the crisis. Crude prices have tumbled around 70 percent over the past 18 months to around $35 a barrel, leading to five of the world’s top oil companies […]

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Wood Mackenzie: Shell's acquisition of BG secures industry leading positions in deepwater oil and LNG

Posted: February 1, 2016 at 3:54 pm   /   Oil & Gas

Since the deal was announced in April, oil prices have near halved and Shell’s share price has fallen 35%. The strategic drivers for the acquisition remain compelling despite deepening turmoil across the oil and gas sector. “First mover advantage secures Shell industry leading positions in deepwater oil and LNG,” says Tom Ellacott, Senior Vice President […]

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BP to invest $229 million with Eni and Total in three offshore blocks

Posted: October 22, 2015 at 3:50 pm   /   Oil & Gas

BP Plc said it had been awarded three new offshore exploration blocks in Egypt and that it and its partners had committed to investment of $229 million. BP said it would have 100 percent equity and operate the North El Tabya block, located in deep waters north of its recent Salamat and Atoll discoveries. The […]

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BP Finalizes Deal to Develop Egypt’s West Nile Delta Gas Fields

Posted: March 13, 2015 at 8:01 pm   /   Oil & Gas

BP announces the signing of the West Nile Delta project to develop 5 tcf of gas resources and 55 mmbbls of condensates. BP announced that it has signed the final agreements of the West Nile Delta project to develop 5 trillion cubic feet (tcf) of gas resources and 55 million barrels (mmbbls) of condensates with […]

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