The Johan Castberg field is important to the further development of the Barents Sea, says the Norwegian Petroleum Directorate, as it will be producing oil for many years to come, and new discoveries can be incorporated.The Johan Castberg oil field came on stream in March, and was officially opened on August 8.There have been 13 discoveries made in the production license, two of which were made this year…
Exxon Mobil could invest as much as $21.7 billion in Trinidad and Tobago if the U.S. energy major finds reserves in a large deepwater area it was awarded on Tuesday to explore for oil and gas in the Caribbean country, Energy Minister Roodal Moonilal said…
An Exxon Mobil-led consortium began production at a fourth floating production, storage and offloading vessel at the Stabroek Block in Guyana on Friday, bringing total capacity from the oilfield to over 900,000 barrels of oil per day, Exxon said…
Lime Petroleum AS announced that for the full month of July 2025, production at the Brage and Yme Fields combined, net to LPA, was 11,941 barrels of oil equivalent per day (boepd).Brage Field: LPA holds a 33.8434 per cent interest in the Brage Field…
BP's announcement on Monday of its largest global oil and gas discovery in 25 years in Brazil's offshore Santos basin bodes well for Equinor's nearby interests and strong appetite for an October auction of oil blocks in the region.Discoveries nearly two decades ago in the region…
BP will launch a review of how best to develop and monetise its oil and gas production assets and consider more cost cuts to boost shareholder returns, the oil major said on Tuesday, as it beat second-quarter profit expectations.BP, under pressure…
Trinidad and Tobago's government has agreed to award U.S. oil major ExxonMobil acreage in an ultra-deep area that includes seven blocks to explore for oil and gas, two senior government officials told Reuters.The parties began negotiations earlier…
Norwegian oil and gas firm OKEA has spudded the first of two production wells at Bestla development, formerly known as Brasse, in the North Sea using Odfjell Drilling’s Deepsea Yantai rig.The well is being drilled by the rig Deepsea Yantai from the Bestla Subsea Template…
Brazil’s state-controlled oil company Petrobras has finalized the sale of its full interest in the Cherne and Bagre offshore fields to Perenco Petróleo e Gás do Brasil, a subsidiary of oil and gas company Perenco.The two fields, located in shallow…
Libya's National Oil Corporation (NOC) said on Monday it signed a memorandum of understanding (MoU) with U.S. oil giant Exxon Mobil after decade of activity halt in the north African country.In its statement, NOC said the MoU focuses on conducting…
BP has made an oil and gas discovery at the Bumerangue prospect in the deepwater offshore Brazil, its largest discovery in 25 years.BP drilled exploration well 1-BP-13-SPS at the Bumerangue block, located in the Santos Basin, 404 kilometers (218 nautical miles) from Rio de Janeiro…
Chevron beat analyst estimates for second-quarter profit on Friday as record oil and gas production and lower capital expenditure helped the U.S. oil producer boost earnings despite weaker crude prices.The No. 2 U.S. oil major triumphed last month in a legal challenge from Exxon Mobil XOM…
Exxon Mobil, the United States' biggest oil producer, beat Wall Street estimates for second-quarter profit on Friday as higher oil and gas output and low production costs offset the impact of lower crude prices.Oil and gas production was the…
The Ministry of Petroleum and Mineral Resources of Egypt has signed an agreement with Eni and BP to launch oil and gas exploration activities in the Mediterranean Sea.The agreement includes the drilling of an exploration well in the Temsah concession area in the coming months…
British gas producer Energean has taken the final decision to invest in the Irena gas field in the North Adriatic Sea off Croatia, it said on Wednesday.The gas field is located in the Izabela concession, an offshore gas development area in the North Adriatic Sea…
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