Statoil and its partners have made a 20-75MM boe gas and oil discovery in the Valemon Nord prospect in the Norwegian sector of the North Sea. The discovery wells 34/10-54 S and 34/10-54 A, in production license 050, drilled by the semisubmersible drilling rig Transocean Leader…
Woodside Energy’s bid to join the offshore Israel Leviathan gas field consortium has missed an agreed deadline, the firm has said. Australia-based Woodside and the offshore Israel Leviathan project joint venture partners missed a target…
Australia-based Santos Ltd. announced that natural gas production has commenced ahead of schedule from the Peluang gas project offshore East Java in Indonesia. Sanctioned in February 2013, Peluang is a tie-back to the existing facilities…
Germany-based crude oil and natural gas producer is planning to divest its shareholding in the Eastern German company Verbundnetz Gas AG (VNG) as part of its strategy to concentrate on the upstream sector. A 24 March agreement will see EWE Aktiengesellschaft take over Wintershall’s 15…
Houston-based Energy XXI is set to become the largest public independent producer on the Gulf of Mexico shelf after its acquisition of EPL Oil & Gas for US$1.53 billion. Upon completion of the merger, EnergyXXI projects the company will be worth about $6 billion…
Nigerian oil and gas exploration firm SEPLAT has announced plans to list on the London Stock Exchange (LSE) and the New York Stock Exchange (NSE) to fund its expansion, including into shallow offshore waters. An initial offer is expected to amount to at least US$500 million…
Oryx Petroleum Corp Ltd. announced that the testing of the E-1 exploration well targeting the Elephant prospect in the Haute Mer A license area in Congo (Brazzaville) confirmed the discovery of natural gas and crude oil previously announced in September 2013…
Some 5Tcf of natural gas reserves are sitting undeveloped in the Southern North Sea, an event on the basin heard today (5 March). John Westwood, of industry analysts Douglas Westwood, was speaking at the Southern North Sea 2014 conference in Norwich…
During his keynote address at IHS CERAweek, Chevron Chairman and CEO, John Watson (pictured), addressed the challenges and changes in the industry, noting the effects of rising costs on the industry’s success. With labor and cost doubling over the past decade…
Iran, India and Oman are preparing to begin official negotiations for delivery of the Iranian natural gas to the Indian market through a deepwater pipeline. Iranian Foreign Minister Mohammad Javad Zarif, Indian Foreign Minister Salman Khurshid…
Statoil and co-venturer ExxonMobil have carried out a successful first drill stem test on their Tanzania Block 2 offshore discovery Zafarani-2. The data acquired will help reduce technical uncertainties in a possible future Tanzania offshore and LNG development…
The UK’s North Sea oil and gas industry was put under a national spotlight today, both by the industry and the nation’s politicians. The industry and government welcomed the outcome of industry veteran Sir Ian Wood’s UKCS Maximizing Recovery Review final report…
Statoil has made a small gas discovery in the Kramsnø prospect in production license 532, near to the Johan Castberg oil field, in the Barents Sea. The discovery is the fourth well in a five-well drilling campaign targeting oil in PL532…
Ecuador, the smallest oil-producing affiliate of the Organization of the Petroleum Exporting Countries (OPEC), is the fifth-largest oil producer in South America, and has the third-largest oil reserves in the region, after Venezuela and Brazil…
Norway’s Statoil announced that a fifth natural gas discovery in Block 2 offshore Tanzania has opened up new play in the region. The Mronge-1 discovery, drilled in 2500m water depth by the Discoverer Americas drillship, 20km north of the Zafarani discovery…