Exploration News

 

Eni, PTTEP Grab Hold of Giant Offshore Block in UAE

Dec 22, 2020

Italian oil and gas firm Eni and Thailand’s national oil company PTTEP have been awarded exploration concession for Offshore Block 3 in the United Arab Emirates, with the concession deal signed with ADNOC on Monday.Eni is the operator with a 70% stake in the Exploration Offshore Block 3…

UK, Norway Offshore O&G Sectors to See Modest Rise in Investment in 2021

Dec 21, 2020

After a turbulent 2020 for the oil and gas industry, 2021 is expected to see a modest rise in investment in the UK and Norway offshore sectors, assuming a US$50 per barrel average oil price.Exploration activity could recover to 2019 levels and investment in new developments is set to increase…

Without Sharp Rise in Exploration, World Will Face Long-term Oil Supply Gap

Dec 15, 2020

Inadequate investment in exploration and new drilling may leave the world without enough oil in 20 to 30 years despite a shift towards renewable power sources, top energy analysts say.The long-term outlook contrasts with today's situation where…

Chariot Agrees Key Terms for Rissana License Offshore Morocco. Award Expected in 2021

Dec 14, 2020

OIl and gas firm Chariot Oil & Gas said Monday it has negotiated the key terms of a new license, Rissana Offshore ('Rissana') in Morocco.  The formal award of the license is anticipated to occur in 2021 and is subject to the normal Moroccan regulatory procedures and approvals…

Kosmos Energy Completes Sale of Frontier Exploration Assets to Shell

Dec 10, 2020

London-listed oil and gas company Kosmos Energy has partially completed the previously announced sale of its frontier offshore oil and gas exploration assets to Shell, with the South Africa transaction expected to complete in 2021.Under the agreement first announced in September…

Angola: Sonangol to Accelerate Asset Sales, Reform Despite COVID-19

Dec 03, 2020

Angola’s state oil giant Sonangol will next year accelerate reforms and efforts to raise revenue after the pandemic drained investor interest in an asset sale that has so far netted only around $60 million, its CEO told Reuters in a rare interview…

Equinor Cleared to Drill Exploration Well in Johan Castberg License Area

Nov 30, 2020

Norwegian oil giant Equinor has been cleared to drill an exploration well at the Isflak prospect in the Barents Sea.The well 7220/7-4 sits in the production license 532, in a water depth of 351 meters. The approval was granted by the safety regulator PSA Norway…

Bahamas Petroleum: Virus Mitigation Measures Lift Costs of Perseverance #1 Drilling

Nov 27, 2020

Bahamas Petroleum Company (BPC), an oil and gas firm which is gearing up to spud its first well offshore the Bahamas next month, has raised the cost estimates for the drilling operation, citing COVID-19 mitigation measures.As previously reported…

Rystad: E&P Spending in 2021 Could Reach $380B. Return to Pre-Crisis Levels Uncertain

Nov 24, 2020

Investments from the global oil and gas exploration and production companies (E&P) in 2021 are forecasted to reach around $380 billion, almost flat year-on-year, a report by Rystad Energy shows.Approximately 20% or $76 billion of the estimated…

Norway to Offer 136 New Offshore Exploration Blocks in Barents Sea Push

Nov 19, 2020

Norway will offer oil firms exploration blocks in nine frontier areas in its latest licensing round, including eight regions of the Arctic Barents Sea and one in the Norwegian Sea, the Ministry of Petroleum and Energy and the Petroleum Directorate (NPD) said on Thursday…

Suriname Offers 8 Blocks in Shallow Waters

Nov 17, 2020

Suriname's Staatsolie has offered eight offshore exploration blocks in the shallow waters off the coast of South America's smaller country up for bidding.Staatsolie, the national oil company of Suriname, said the blocks, covering around 13,524 km2…

Bahamas Petroleum Gearing Up to Spud Perseverance #1 Well Next Month

Nov 17, 2020

Stena Drilling's Stena IceMAX drillship is soon expected to set sail to the Bahamas, where it will spud the Perseverance #1 exploration well for the Bahamas Petroleum Company (BPC). BPC said Tuesday that the drilling rig had completed all necessary vessel and equipment inspections…

Rystad: Oil and Gas Exploration Activity in 2020 'Resilient' Despite Covid-19

Nov 16, 2020

Norwegian energy intelligence group Rystad Energy has said that oil and gas exploration activity in 2020 has been resilient, despite concerns that Covid-19 could drive down discovered volumes to their lowest levels in decades.'Found resources…

Aker BP Makes Minor Oil and Gas Discovery in Norwegian Sea

Nov 12, 2020

Norwegian oil and company Aker BP has made a minor oil and gas discovery in the Norwegian Sea.According to the Norwegian Petroleum Directorate, Aker BP ASA, as the operator of the production licence 127 C, has concluded the drilling of wildcat well 6607/12-4 and appraisal well 6607/12-4 A…

Shell Farms Into South Africa Offshore Block Near Total's Gas Discoveries

Nov 04, 2020

Privately-owned oil firm Impact Oil & Gas has signed a farm-out agreement with Shell for the 50% working interest and operatorship in the Transkei & Algoa exploration right, offshore South Africa.Transkei & Algoa blocks are located offshore eastern South Africa and cover approximately 45…

Current News

Jadestone Shutting Down Montara FPSO Output to Fix Tank Issues

Jadestone Shutting Down Montara FPSO Output to Fix Tank Issues

Nigeria's NNPC Renews Oil Contracts to Produce 10 Bln Barrels

Nigeria's NNPC Renews Oil Contracts to Produce 10 Bln Barrels

Repair to Oil Pipe that Shut U.S. Offshore Output Due by End of Day

Repair to Oil Pipe that Shut U.S. Offshore Output Due by End of Day

Sapura Energy Wraps Sale of Sapura 3000 Pipelayer

Sapura Energy Wraps Sale of Sapura 3000 Pipelayer

Subscribe for OE Digital E‑News

Offshore Engineer Magazine