Statoil makes North Sea oil discovery

According to The Norwegian Petroleum Directorate, Statoil has made two discoveries in the North Sea, one in the south of the Askja Øst field, and the other, at about 35 km southwest of the Oseberg Sør facility.

Statoil’s wildcat discovery at the first well encountered a 37-metre oil column in the upper part of the Tarbert formation, of which about 30 metres had good to moderate reservoir properties. The second well was drilled further down on the structure, encountered similar reservoir rocks, but came up dry.

Preliminary estimates place the size of the discovery at between 0.7 and 2.5m standard cubic metres (Sm3) of recoverable oil equivalents. The discovery would be included in the evaluation of a new field development, along with other earlier discoveries in the area.

Wildcat drilling is a process of drilling for oil or natural gas in an unproven area, that has no concrete historic production records and has been unexplored as a site for potential oil and gas output.

Source: Energy Voice

Pemex in talks with major players for drilling prospects in Gulf of Mexico

Mexico’s PEMEX wants to develop its offshore deep water capabilities in the Gulf of Mexico and was in discussions with Chevron, Total and ExxonMobil. The company also plans to engage with Statoil ASA to look at mutual areas of interest for jointly developing offshore capabilities.

Mexico is scheduled to auction offshore assets in the Gulf of Mexico on 5 December 2016, hoping to raise $44bn to support its economy.

Source: Rigzone