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 built alongside six other Transocean drillships currently … [Read more...]

Shell and Chevron Move Offshore as Nigerian Risks Mount

bonga fpso shell oil production

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, Shell has sold land-based fields that pumped … [Read more...]

Frade FPSO Finally Given Green Light for Restart by Brazilian Authorities

chevron frade fpso

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 to restart output from four wells at the Frade field for … [Read more...]

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 190 miles (308 km) off the Louisiana coast in 6,127 feet … [Read more...]

Chevron Signs Agreement to Conduct Deepwater Exploration Offshore Morocco

offshore morocco chevron

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 conduct studies in … [Read more...]

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 No. 2 U.S. oil company, and its drilling contractor … [Read more...]