Ratio Oil Exploration News


BOEM Looks to Open 80 million Acres for Oil and Gas Lease Sale

Jun 25, 2025

The Bureau of Ocean Energy Management announced the publication of a Proposed Notice of Sale (PNOS) for an oil and gas lease sale in the Gulf of America.As directed by Secretary of the Interior and outlined in the PNOS, Lease Sale 262 will offer approximately 15…

Petrovietnam, Partners Sign PSC for Block Off Vietnam

Jun 25, 2025

Vietnam National Industry - Energy Group (Petrovietnam) and its joint venture partners officially signed the Product Sharing Contract (PSC) for Block 15-1 in the southern continental shelf of Vietnam.Block 15-1 is one of the oil and gas blocks…

Egypt's EGAS Awards Offshore Blocks to International Companies

Jun 25, 2025

Egypt's EGAS has awarded four blocks in the Mediterranean, one in the Nile delta, and one in North Sinai to international companies, according to a petroleum ministry statement on Wednesday.Companies will invest $ 245 million to drill at least 13 new exploratory wells during the exploration period…

Israel's Leviathan Gas Field to Resume Production in Next Few Hours

Jun 25, 2025

Israel's NewMed said on Wednesday the Leviathan natural gas field that supplies gas to Egypt and Jordan, shut down nearly two weeks ago due to the Iran-Israel conflict, would resume operations in the next few hours.Two of Israel's three gas…

CNOOC Signs Hydrocarbons Exploration and Production Deal with Kazakhstan

Jun 24, 2025

China's state-owned oil and gas firm China National Offshore Oil Corporation (CNOOC) has signed production and exploration contract with Ministry of Energy of the Republic of Kazakhstan and state-owned operator KazMunayGas (KMG) for Zhylyoi Subsoil Area…

Jotun FPSO Starts Production at Balder Field in North Sea

Jun 23, 2025

Vår Energi and Kistos Energy Norway have started production through Jotun floating production, storage and offloading (FPSO) unit at the Balder field in the North Sea.The production from Jotun FPSO marks the extension the life of the first production license…

Libya Blocks Greek Tender for Hydrocarbon Exploration Off Crete

Jun 20, 2025

Libya's internationally recognised government of national unity has objected to Greece's approval of an international tender for hydrocarbon exploration off the island of Crete, saying some of the blocks infringe upon its own maritime zones…

Petronas Expands Suriname Portfolio with Deepwater Block Acquisition

Jun 20, 2025

Petronas, through its wholly-owned subsidiary Petronas Suriname E&P, has signed a Production Sharing Contract (PSC) for Block 66, located in the deepwater region offshore Suriname.The agreement was signed with Staatsolie Maatschappij Suriname and Paradise Oil Company (POC)…

Equinor’s Johan Castberg Field Starts Producing at Peak Capacity

Jun 20, 2025

Only three months after coming on stream, Equinor’s Johan Castberg field in Barents Sea has started producing at peak capacity of 220,000 barrels of oil per day.The field’s peak production achievement increases energy deliveries from the Barents Sea by 150%…

SeaBird Exploration Rebrands to SED Energy Holdings

Jun 19, 2025

Norwegian marine seismic survey services firm Seabird Exploration has changed its name to SED Energy Holdings (Energy Holdings), following the merger with Energy Drilling.Effective from June 20, 2025, the name will be changed along with the ticker code to ENH…

ConocoPhillips Confirms Oil Discovery off Norway

Jun 19, 2025

ConocoPhillips Skandinavia, a subsidiary of U.S. energy major ConocoPhillips, has completed the drilling of an appraisal well in the Norwegian Sea, confirming the previously made oil discovery.ConocoPhillips Skandinavia, the operator of production license 891…

SBM Offshore Inks O&M Contract with TotalEnergies for GranMorgu FPSO

Jun 19, 2025

SBM Offshore has signed an operations and maintenance contract with TotalEnergies EP Suriname, an affiliate of TotalEnergies, for the GranMorgu floating production, storage and offloading (FPSO) unit, as part of the field development project located in Block 58 in Suriname…

Japanese Oil and Gas Firm Enters Two Blocks off Malaysia

Jun 19, 2025

Idemitsu Kosan Co has acquired interests in two oil and gas blocks located off the coast of Sarawak in Malaysia from South Korean SK earthon, and signed production sharing contracts (PSC) for the developments.The acquired interests are for the Block SK427…

Petrobras Acquires 13 Oil and Gas Blocks in Brazil’s Latest Bidding Round

Jun 18, 2025

Brazil’s state-run oil and gas firm Petrobras has acquired 10 blocks in the Foz do Amazonas Basin and three blocks in the Pelotas Basin in the fifth Permanent Concession Offer Cycle of the National Agency of Petroleum, Natural Gas and Biofuels (ANP)…

Galp Secures Three Exploration Blocks in Brazil

Jun 18, 2025

Portugal's Galp has been awarded three offshore blocks as part of Brazil’s fifth Open Permanent Concession bid round.Galp acquired offshore early-stage exploration blocks P-M-1670/1672/1741 in the Pelotas basin, in the southern region of the country…

Current News

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Santos Extends Exclusivity Period for XRG Consortium

Trinidad Awards Deepwater Blocks to Exxon

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