Norwegian oil exploration firm North Energy has launched a strategic review after being approached over potential strategic opportunities as market conditions remain difficult. The firm says the continued low oil price presents challenges…
Swedish exploration and production firm Lundin Petroleum says it has made a sub-commercial discovery on the Storm prospect, offshore Norway. The Storm wildcat well 33/2-1 on production license 555 was drilled 200km northwest of Florø…
BP and the state oil company of the Republic of Azerbaijan, SOCAR signed a production sharing agreement (PSA) for the exploration and development of the potential prospects in the shallow water area around the Absheron Peninsula located in the Azerbaijan sector of the Caspian Sea…
Norwegian exploration firm Statoil has made a 6-9MMboe discovery on the Krafla North prospect in production license (PL) 035 in the North Sea, according to partner Det Norske, increasing the Krafla area overall estimates to 75-143boe. The 30/11-10 well…
RWE Dea Norge is to plug and abandon its wildcat well 35/9-12 S on the Atlas prospect in production license (PL) 420 in the North Sea after it was classified dry. The well was drilled about 20km southwest of the Gjøa field in the North Sea and about 80km southwest of Florø…
Germany’s Wintershall increased the recoverable resources for its Norwegian Sea Maria field by 40MMboe. The Maria field. From Wintershall. The field is now expected to reach 180MMboe recoverable resources…
Eni and Galp Energia’s subsidiary Petrogal finalized a farm in agreement for Eni to acquire operatorship and 70% stake in three permits off Portugal. Map of Galp Energia Portugal blocks. From Galp Energia…
Det norske oljeselskap ASA (Det norske) received consent from the Petroleum Safety Authority (PSA) of Norway for exploration drilling on the three appraisal wells in Ivar Aasen field in the North Sea. Illustration of Ivar Aasen…
Woodside advises that it has finalized an agreement with BP to farm in to offshore blocks in the Scotian basin, off the coast of Nova Scotia, Canada. BP accepted Woodside’s offer to acquire a 20% participating interest in exploration licenses 2431…
Chevron has said it is canceling plans to drill for oil in the Beaufort Sea in Canada's Arctic because of economic uncertainty in the industry as oil prices fall. Beaufort Sea map. From Chevron. The…
Oil exploration in the Bahamas has taken a step forward after a new Petroleum Act and regulations to guide and govern oil exploration in was placed before the Parliament of The Bahamas. The draft legislation is now likely to go through…
ExxonMobil signed a production sharing agreement (PSA) with the Cote d'Ivoire governmentfor two ultra deepwater blocks in the Gulf of Guinea. The PSA is for the Blocks CI-602 and CI-603 located in the southern Ivory Coast. CI-602 covers 3874sq km and CI-603 covers 5543sq km…
Freeport-McMoRan Oil & Gas and partner Pura Vida Energy are planning to drill an up to US$136 million well offshore Morocco targeting 'well over' 1.4-3 billion barrels total gross mean resources. The well, Mazagan-1 (MX-1), which contains the Ouanoukrim prospect…
SKF USA and Vantage Drilling combined resources to improve the reliability of the Vantage Titanium Explorer and Platinum Explorer drill ship fleet. Titanium Explorer. From Vantage. These…
Newfoundland and Labrador’s latest exploration licensing round has resulted in a $559 million bid led by ExxonMobil – the largest bid in the province’s history for a single parcel. ExxonMobil bid as part of a consortium with Canada’s…