U.K. Government Gives Chevron Thumbs Up at Alder Field

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*+-Chevron North Sea Ltd reached a final investment decision today and received approval from the U.K. Government to proceed with the development of the Alder Field in the Central North Sea. The project has a planned design capacity of 110 million cubic feet of natural gas and 14,000 barrels of condensate per day. First production […]

Chevron Awards Transocean $1.1 Billion Drillship Charter Contract

Discoverer Americas Transocean Drillship Robert Rob Almeida photography

*+-Chevron has awarded a 5-year, $1.1 billion contract to Transocean today for the charter of a new drillship that will be build over the next few years at Daewoo Shipbuilding and Marine Engineering. Construction of this new $725 million drillship is expected to begin in Q4 2014 with delivery in Q2 2016, and will be […]

Shell and Chevron Move Offshore as Nigerian Risks Mount

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*+-July 31 (Bloomberg) — At Royal Dutch Shell Plc’s compound in the Nigerian city of Warri, the gate is locked, the grounds are empty and grass has overgrown since Europe’s biggest oil company closed its operations in March after more than 40 years. After Warri saw some of the nation’s worst unrest in two decades, […]

Frade FPSO Finally Given Green Light for Restart by Brazilian Authorities

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*+-By Jeb Blount RIO DE JANEIRO, April 8 (Reuters) – Brazil’s oil regulator, the ANP, said on Monday that it authorized Chevron Corp to restart output from an offshore oil field more than a year after a November 2011 spill forced the No. 2 U.S. oil company to stop Brazilian production. Chevron was granted permission […]

Chevron Strikes in Deepwater U.S. Gulf of Mexico

Coronado prospect in prolific Lower Tertiary Trend. Illustration: Chevron

*+-Chevron Corporation (NYSE: CVX) on Tuesday announced that it has struck oil at the Coronado prospect off the coast of Louisiana in the deepwater Gulf of Mexico. In a statement, Chevron said the Walker Ridge Block 98 Well No. 1 encountered more than 400 feet (122 m) of net pay. The well is located approximately […]

Chevron, Transocean Say Brazil Has Dropped Criminal Charges From Frade Oil Spill

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*+-By Jeb Blount RIO DE JANEIRO, Feb 20 (Reuters) – A Brazilian judge dropped criminal charges against Chevron Corp, Transocean Ltd and 17 of their employees related to a November 2011 offshore oil spill, the companies said on Wednesday. The criminal case, and a civil suit seeking as much as 40 billion reais ($20.4 billion) […]

Chevron Signs Agreement to Conduct Deepwater Exploration Offshore Morocco

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*+-By Saabira Chaudhuri Chevron Corp. (CVX) has signed petroleum agreements related to three offshore areas in Morocco, a push to expand its footprint in frontier basins. The oil and gas company has signed the agreements with Morocco’s Office National Des Hydrocarbures Et Des Mines which, once awarded, will allow Chevron to acquire seismic data and […]

Chevron Nears Settlement in Brazil Over Frade Oil Spill

An aerial view is seen of oil that seeped off the coast of Rio de Janeiro, caused by a well drilled by Chevron at Frade, on the water in Campos Basin in Rio de Janeiro state November 18, 2011. REUTERS/Rogerio Santana/Handout

*+-By Jeb Blount RIO DE JANEIRO – Chevron Corp is willing to pay about 300 million reais ($144 million) to settle lawsuits in Brazil over an oil spill last year, a senior executive and a federal prosecutor said on Friday. The talks over a possible settlement reinforce expectations of a swift resolution for Chevron, the […]

Chevron’s Frade FPSO to Restart Production as Brazilian Court Dismisses Injunction

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*+-(Dow Jones) Chevron Corp. (CVX) is working with Brazilian regulators to restart production at its Frade offshore field, after a court dismissed an injunction that barred the oil company and contractor Transocean Ltd (RIG) from operating in the country. “Chevron is pleased with the court’s decision to dismiss the injunction,”Chevron spokesman Kurt Glaubitz said in an e-mail. He added […]

Dolphin Drilling Gains Long Term Contract for the Bollsta Dolphin Newbuild

Moss Maritime CS 60 E design fred olsen

*+-Still under construction at Hyundai Heavy Industries, the semi-submersible drilling rig which will eventually be named the Bollsta Dolphin, has just been awarded a $1.064 billion, 5-year contract by Chevron.  The rig is scheduled to operate in the UK North Sea at a day rate of $560,000 following it’s delivery from HHI near the end of […]

Brazil Court Allows Chevron Exec to Leave Country

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*+-RIO DE JANEIRO–A federal court in Brazil will allow one of the executives charged in a criminal lawsuit related to a November spill at an offshore oil field operated by U.S. major Chevron Corp. (CVX) to pay a bond and leave the country, a source familiar with the court’s decision said Wednesday. Chevron Brasil President George Buck will have […]