Extension of the 4.5 billion barrel Franco field is confirmed by the latest discovery from Petrobras. The company is also looking to drive production growth with its prolific pre-salt prospects.
Articles Tagged "deepwater drilling"
Although Chevron was fined $28 million and had its drilling rights in Brazil suspended for the recent offshore oil spill at their Frade field, some industry experts suggest the company will be able to avoid a long-term ban.
Oil companies are hoping this latest major find will provide further justification for speeding up the permit issuing process for deepwater drilling in the Gulf of Mexico.
Nexen Inc. (TSE: NXY) announces that it has signed an amended an ultra-deepwater semi-submersible drilling rig agreement with Ensco (NYSE:ESV).