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The North Sea, first tapped in the 1960s, has seen production fall by more than half from a peak 15 years ago as fields age and an increase in costs make it one of the world’s most expensive places to operate.
Appraisals of the Chevron’s Anchor discovery deep in the Gulf of Mexico indicate the prospect could hold large stores of oil, but more testing needs to be done, Chevron and its partners announced Thursday.
It is part of the company’s plan to sell $1 billion to $2 billion assets a year as it braces for lower oil prices.
Noble Energy has started pulling oil and gas from its Big Bend development deep in the Gulf of Mexico, marking the first of three major offshore projects Noble plans to bring online in the coming months, the Houston oil company announced late Wednesday.
This year, Anadarko has sold $2 billion in assets and in the third quarter it wrote off $2.6 billion before taxes on the value of its oil assets, which sank its profits.
Transocean and Royal Dutch Shell struck an agreement to delay the delivery of two newbuild ultradeep-water drillships as the offshore drilling industry cools amid a global downturn in oil prices.
The worker on the Pacific Santa Ana was killed as the drillship prepared to bore a well for Chevron, BP and ConocoPhillips.
In less than three months, the Mexican Government has changed the narrative of their oil and gas auctions.
Chevron’s beleaguered Big Foot platform has been towed back to South Texas while the company continues to investigate the failure of equipment used to latch the hulking steel platform to the seafloor.
Noble has brushed off the accusations, maintaining that its concession contracts are with the Falkland Islands Government, not Argentina.