As a result of this early success, BP now is deploying this technique to fields elsewhere in the Gulf of Mexico as well as in Azerbaijan, Angola, and Trinidad and Tobago. BP announced a major breakthrough in seismic imaging that has identified more than 200 million barrels of additional resources at BP’s Atlantis field in the deepwater Gulf of Mexico. MORE

Begun in December 2007, development of the Pazflor oil field 150 kilometers (93 miles) offshore Angola is one of the biggest projects currently operated by Total. MORE

Chevron Corporation’s Cabinda Gulf Oil Company Limited subsidiary will proceed with the development of the Mafumeira Sul project located offshore Angola. Associated natural gas will be commercialized through the Angola Liquefied Natural Gas (ALNG) plant in Soyo, Angola. MORE

Major capital investments include developments in Australia, the deepwater Gulf of Mexico, Nigeria, Angola and China. Angola: Angola LNG and development of Mafumeira Sul. Chevron Corporation announced a $32.7 billion capital and exploratory spending program for 2012. Included in the 2012 program are $3 billion of planned expenditures by affiliates, which do not require cash outlays by Chevron. We continue to develop an unparalleled project queue. MORE

Sociedade Nacional de Combustíveis de Angola Empresa Pública (Sonangol, E.P.), The result may be a further step towards our goal of building up a significant business in Angola. Maersk Oil entered Angola in June 2005, when it acquired a 50% interest and operatorship of Block 16. Exploration activities are ongoing in Angola, Brazil, Norway, the US Gulf of Mexico, Greenland and in producing countries. MORE

Proved additions were also made in a diverse range of countries including the United States, Norway, Nigeria, Angola and Australia. Additions to ExxonMobil’s proved reserves in 2008 totaled 1.5 billion oil-equivalent barrels—the bulk of it from Canadian oil sands—replacing 103% of production. Excluding the impact of asset sales, reserves additions replaced 110% of production. MORE

An Eni-led consortium announced a new major oil discovery in Block 15/06 in the deep offshore of Angola. The other partners in the JV are Sonangol Pesquisa e Produção (15%), SSI Fifteen Limited (20%), Total (15%), Falcon Oil Holding Angola SA (5%), Petrobras International Braspetro B.V. (5%) 5%) and Statoil Angola Block 15/06 Award AS (5%). MORE

This discovery increases our understanding of the pre-salt potential in the Campos Basin and improves our confidence in the recently acquired acreage position in the pre-salt Kwanza basin of Angola. Statoil, operator Repsol Sinopec, and Petrobras have confirmed a high-impact discovery in the Pão de Açúcar prospect offshore Brazil. Statoil defines a high-impact well as offering a total of more than 250 million barrels of oil equivalent (boe), or 100 million boe net to Statoil. MORE

Eni has been present in Sub-Saharan Africa since the 1960s and currently participates in exploration and production projects in Angola, Congo, Ghana, Gabon, Mozambique, Nigeria, Democratic Republic of Congo, Kenya and Liberia. Eni reports making an important new exploration discovery in the Marine XII Block located approximately 17 kilometers (10.6 miles) offshore Congo. MORE

by Dalan McEndree for Oilprice.com. MORE

an independent oil exploration and production company focusing on the deepwater US Gulf of Mexico and offshore Angola and Gabon, announced a significant oil discovery at its North Platte prospect on Garden Banks Block 959 in the deepwater Gulf of Mexico. Cobalt International Energy, Inc., MORE

Deepwater Angola. Separately, Eni reported its ninth oil discovery in deepwater offshore Angola, in Block 15/06, increasing the resource base of the West Hub project. This discovery confirms Angola as one of the core countries in Eni’s organic growth strategy. MORE

Renewed disruptions in Libya and smaller drops in Nigeria, Kuwait, the United Arab Emirates and Venezuela more than offset higher output in Iran, Iraq and Angola. The International Energy Agency’s (IEA’s) Oil Market Report (OMR) for December raised the estimate of global oil demand for 2013 by 130,000 barrels per day (130 kb/d) to 91.2 million barrels per day (mb/d), on stronger-than-expected third-quarter demand growth among OECD countries of 320 kb/d. MORE

mb/d, as losses in Libya and Iraq offset higher supply from Saudi Arabia, Iran and Angola. Having bottomed?out out in the second quarter of 2014, global oil demand growth has since steadily risen, with year?on?year year gains estimated at around 0.9 million barrels per day (mb/d) for the final quarter of last year and 1.0 mb/d for the current quarter, according to the IEA Oil Market Report for March. IEA raised its forecast of demand growth for all of 2015 by 75 kb/d to 1.0 MORE

Earlier in December, Cobalt International Energy announced a significant discovery at its Lontra well in the pre-salt play offshore Angola, in which BP holds a 30% interest. BP said that 2013 had been its most successful year for new field exploration for almost a decade. MORE

Through the agreements, the two companies have established the framework for the development of joint mining initiatives in Angola and abroad; the execution of a pilot project in food and biodiesel; and non associated gas development projects related to block 15/06 in Angola. Eni said that this operation confirms Angola as one of the key countries in the company’s growth strategy. MORE

Putin has aligned Russia with OPEC’s have-nots—the members lacking financial resources to withstand low crude prices for an extended period and that have objected to Saudi policies (Iran, Iraq, Angola, Nigeria, Libya, Algeria, Ecuador, and Venezuela)—against the haves (Saudi Arabia, Kuwait, the UAE, and Qatar). by Dalan McEndree for Oilprice.com. MORE

Elsewhere in West Africa, Angola, Equatorial Guinea, Gabon, Congo and Cameroon collectively waste about 10 billion cubic meters of natural gas every year. Gas-flaring countries and trends. Click to enlarge. A newly released GE study — Flare Gas Reduction: Recent Global Trends and Policy Considerations —estimates that 5% of the world’s natural gas production is wasted by burning or “flaring” unused gas each year, despite some progress on the flaring issue. MORE

Because production levels from Iran, Libya, and Sudan and South Sudan dropped since 2011, China replaced the lost shares of crude oil and other liquids imports from these countries with imports from Oman, Iraq, the United Arab Emirates, Angola, Venezuela, and Russia. MORE

The group has interests in LNG projects in Indonesia, Nigeria, Norway, Oman, Qatar, the United Arab Emirates, Yemen, Angola, and Russia. Location of the Ichthys project. Source: INPEX. Click to enlarge. Japan-based INPEX Corporation and its joint venture partner Total have made the final investment decision (FID) for the Ichthys liquefied natural gas (LNG) project in Australia, representing an investment of US$34 billion dollars. MORE

The volume increase is supported by the ramp up of several projects completed in 2014 and the expected startup of seven major developments in 2015, including the Kearl expansion, Hadrian South in the Gulf of Mexico, Banyu Urip in Indonesia and deepwater expansion projects at Erha in Nigeria and Kizomba in Angola. MORE

Total and its joint venture partners have made the final investment decision to develop the ultra-deep offshore Kaombo project in Angola. Associated gas will be exported to the onshore Angola LNG plant. France-based Total has been present in Angola since 1953. MORE