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27 July, 2017

Malaysia: Thailand's PTTEP takes $500 million stake in Malaysia LNG project

PTTEP, the exploration and production arm of Thailand's oil and gas giant PTT Group, said on Thursday it had taken a $500 million stake in a liquefied natural gas (LNG) project with Malaysia's Petronas.

27 July, 2017

Mexico: ION imaging supported Talos' historic Zama-1 Mexico discovery

ION Geophysical has announced that its imaging services supported the historic Zama-1 discovery offshore Mexico made by Talos Energy and its partners. Zama-1 is the first offshore exploration well drilled by the private sector in Mexico's history and is estimated to hold 1.4 to 2.0 billion barrels of oil in place.

27 July, 2017

Mexico's first publicly listed oil company set for August debut

Vista Oil & Gas, with backing from private equity firm Riverstone Capital, will launch an initial public offering (IPO) on Mexico's stock exchange on Aug. 11, according to a Reuters report.

27 July, 2017

Australia: Prelude FLNG facility arrives in Australia - a new era for the LNG industry

Shell Australia confirmed July 25 that its Prelude floating liquefied natural gas (FLNG) facility has arrived in Australian waters. Prelude is the first deployment of Shell’s FLNG technology, that will see a 488 metre long floating facility extracting and liquefying gas at sea.

27 July, 2017

Statoil announces 2017 second quarter and first half results

Statoil reports adjusted earnings of USD 3.0 billion and adjusted earnings after tax of USD 1.3 billion in the second quarter of 2017. IFRS net operating income was USD 3.2 billion and the IFRS net income was USD 1.4 billion.

27 July, 2017

Australia: Rawson Oil and Gas agrees Otway Basin farm-in deal with Vintage Energy

Rawson Oil and Gas has entered into a binding heads of agreement with Vintage Oil and Gas whereby Vintage will acquire a working interest in PEL 155 in the Otway Basin by way of a staged farm-in agreement.

27 July, 2017

US: Invenergy and GE Renewable Energy announce America’s largest wind farm

Invenergy, North America’s largest independent, privately-held renewable energy company, along with GE Renewable Energy, has announced a 2,000-megawatt wind farm that will be the largest in the U.S. and second-largest in the world, once operational.

27 July, 2017

Colombia: Interoil announces Vikingo-1 well test results

Norway's Interoil Exploration & Production has announced the results of the testing of the three layers targeted in the Vikingo-1 exploration well in LLA-47 in Colombia.

26 July, 2017

Hess slashes 2017 capital budget after quarterly loss

U.S. oil producer Hess Corp slashed its 2017 capital budget by 4 percent on Wednesday after posting a wider-than-expected quarterly loss on low crude prices and a dip in production.

26 July, 2017

Russia: Gazprom Neft begins production at the Otdalennaya group of fields in Yamalo-Nenets Autonomous District

Gazpromneft-Noyabrskneftegaz, a subsidiary of Gazprom Neft, has completed the drilling and testing of its first production well at the Zapadno-Chatylkinskoye field, which forms part of a remote group of deposits in the southern part of the Yamalo-Nenets Autonomous District.

26 July, 2017

Seadrill warns again of Chapter 11 as it extends $14 billion debt talks

Offshore drilling contractor Seadrill again delayed restructuring its $14 billion in debt and liabilities on Wednesday and reiterated that Chapter 11 bankruptcy was likely.

26 July, 2017

Guyana: Eco Atlantic and Tullow Oil commence 2,550 sq km 3D seismic survey offshore Guyana

Eco (Atlantic) Oil & Gas and its Operating Partner, Tullow Oil, have commenced a 2,550 km2 seismic survey on the Company's Orinduik Block, offshore Guyana. The Orinduik Block is located up dip and just a few kilometers from Exxon's recent Liza and Payara discoveries.

26 July, 2017

Bolivia: Echo Energy signs Technical Evaluation Agreement for the Rio Salado Block, onshore Bolivia

Echo Energy has announced the signature of a Technical Evaluation Agreement (TEA) for the Rio Salado Block, onshore Bolivia. The TEA was signed between the Company, Pluspetrol and YPFB at the YPFB 2017 Gas & Oil Congress in Santa Cruz, Bolivia.

26 July, 2017

Brazil: CGG extends Santos VII multi-client survey to optimize Saturno field imaging

CGG has announced the completion of an extension of its Santos VII broadband 3D multiclient survey offshore Brazil. The 1,867 sq km extension to the original footprint gives CGG a total of almost 16,000 sq km of newly acquired and imaged pre-salt coverage.

26 July, 2017

Tullow Oil announces 2017 half year results

Tullow Oil has announced its results for the six months ended 30 June 2017. The Company reports first half revenues of $0.8 billion, gross profit of $0.3 billion, free cash flow of $0.2 billion and a post tax loss of $0.3 billion after impairments.

26 July, 2017

Iraq: Petrofac strengthens Iraq presence with contracts worth US$100 million

Petrofac has secured a contract extension and a new award with a combined value of more than US$100 million for construction management, engineering, commissioning and start-up services for two International Oil Companies (IOCs) in Iraq.

26 July, 2017

Norway: Faroe Petroleum announces successful Brasse sidetrack well results - increased volume range

Faroe Petroleum has announced the results of the 31/7-2S Brasse sidetrack appraisal well in the Norwegian North Sea. The Company reports a volume increase, with recoverable resource volumes now estimated at between 56 and 92 mmboe (from 43 to 80mmboe).

26 July, 2017

Brazil: Karoon's Echidna oil discovery development concept approved for FEED

Karoon Gas Australia has announced that its Board has approved the development concept for the Echidna light oil discovery in Brazil's Santos Basin, progressing the project to the next phase in the development, Front-End Engineering and Design (‘FEED’).

26 July, 2017

Australia: Rouge Rock farms into Melbana Energy's offshore permits AC/P50 & 51

Rouge Rock has formally notified Melbana of the exercise of its options to acquire a 45% interest in the AC/P50 and AC/P51 exploration permits located in the Vulcan sub-basin off the North West coast of Australia.

26 July, 2017

China urges halt to oil drilling in disputed South China Sea

China's Foreign Ministry has urged a halt to oil drilling in a disputed part of the South China Sea, where Spanish oil company Repsol had been operating in cooperation with Vietnam. Drilling began in mid-June in Vietnam's Block 136/3, which is licensed to Vietnam's state oil firm, Spain's Repsol and Mubadala Development Co of the United Arab Emirates.