Petroleo Brasileiro S.A. – Petrobras announces the start of production at the Lucius field today. The field is located approximately 236 miles (380 km) southwest of Port Fourchon, Louisiana, in water depths of 7,086 feet (2,160 m).
Exxon Mobil Corporation (NYSE:XOM) announced today that production has begun at the Sakhalin-1 project’s Arkutun-Dagi field – the last of the three fields to be developed. Peak daily production from the field is expected to reach 90,000 barrels.
Eni announces the production start-up from the Lucius Field in the Gulf of Mexico deepwater, 240 miles south of the Louisiana coast, United States.
Petrobras total oil and natural gas production in December, in Brazil and abroad, has reached an average of 2 million 863 thousand barrels of oil equivalent per day, representing the best result ever achieved in the history of the Company. This volume has an increase of 4.4% from 2 million 741 thousand boed registered in November.
Eni has started production from Nené Marine field, offshore Congo, just eight months after obtaining the production permit and 16 months following the exploration discovery. The field is located in Marine XII Block, approximately 17 km from the coast.
BG Group, a world leader in exploration and LNG, today announced that its partner Petróleo Brasileiro S.A., as the operator of block BM-S-11 in the pre-salt Santos Basin, has submitted the Declarations of Commerciality (DoC) to the Brazilian National Agency of Petroleum, Natural Gas and Biofuels (ANP) for three separate oil and gas accumulations in the Iara area, offshore Brazil.
Oil prices have fallen by around 40% since the middle of the year, and The Economist Intelligence Unit forecasts that lower oil prices will persist. In 2015 we are forecasting that Brent will average $80/barrel, rising slightly to $85/barrel in 2016.
RN-Uvatneftegaz, a subsidiary of Rosneft, produced 50 millionth ton of oil since the start of Uvat project implementation in 2004. In 10 years of enterprise performance the annual oil output increased almost by 10 times – from 1.2 mln tons in 2004 to about 10 mln tons, expected by the end of the current year.
CNOOC Limited (the "Company", NYSE: CEO, SEHK: 00883, TSX: CNU) today announced that its Liuhua 34-2 gas field has commenced production.
RWE Dea doubled its oil and gas production in Egypt. North Africa is a strategic core region for Dea. The company is one of the leading foreign investors in Egypt and produces oil and gas in the country for 30 years by now. RWE Dea is presenting applied technology highlights and recent projects at the MOC 2014 in Alexandria.