Oil & Gas News

Fugro has been awarded a contract from INPEX Operations Australia Pty Ltd (INPEX) for subsea services to be executed across the Ichthys facilities in the Timor Sea, located approximately 220 kilometers from the coast of Western Australia. INPEX is Japan’s largest oil and gas exploration and production company.

VAALCO Energy, Inc. (NYSE: EGY) (“VAALCO” or the “Company”) have announced that the Avouma 2-H well on the Avouma Platform offshore Gabon is back on production after utilizing a hydraulic workover unit to replace a failed Electric Submersible Pump (ESP) system. The well is currently producing at a stabilized rate of 2,700 barrels of oil per day (BOPD) gross, or 730 BOPD net to VAALCO. With the addition of the two recent workover wells, total Company net production is currently averaging 4,600 BOPD.

ExxonMobil announced on Thursday, January 12, 2017, positive results from its Payara-1 well offshore Guyana. Payara is ExxonMobil’s second oil discovery on the Stabroek Block and was drilled in a new reservoir. The Payara-1 well targeted similar aged reservoirs that were proven successful at the company’s Liza discovery.

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