As the world's top oil companies diversify and expand their presence in the petrochemicals and renewables segments, Petrobras is craving to be a less verticalized company.As partner to the Brazilian government in one of the industry's most coveted…
Qatar Petroleum said on Wednesday it has entered into an agreement with Eni to acquire a 30 percent participating interest in the Tarfaya Shallow Exploration Permit, a series of 12 neighboring offshore blocks along the Atlantic coast of Morocco…
Colombia's government on Monday said it signed two exploration and production contracts with Shell in offshore areas of the Caribbean Sea that will require the company to make initial investments of $100 million.Colombia recently modified contractual…
Thai oil and gas company PTT Exploration and Production Public Company Limited (PTTEP) has made a gas and condensate discovery at the Orchid-1, the first exploration well in Permit AC/P54 located in the Timor Sea, Australia.Phongsthorn Thavisin…
German oil company DEA Deutsche Erdoel AG has said it has extended its concessions for the Ras Budran and Zeit Bay oil fields in the Gulf of Suez, offshore Egypt. DEA’s General Manager Sameh Sabry signed the new concession agreement. The new…
Aberdeen-based oil well technology firm Plexus Holdings said its Russian licensee Gusar had clinched its first major contract to supply gas exploration equipment to Gazprom.The contract covered the first year of an up to five-year jack-up gas exploration drilling programme on the Kara Sea Shelf…
Colombia’s state-run oil company Ecopetrol SA has signed Colombia’s first offshore exploration and production contract under a newly revised contract model.According to a report in Reuters, the deal for a nearly 400,000-hectare (988,000-acre)…
Aker Energy, as the operator of the Deepwater Tano Cape Three Points (DWT/CTP) block, announced Monday that it encountered oil in the Pecan South-1A well south of the main Pecan field offshore Ghana.Aker Energy said it is in the process of analyzing…
British oil producer EnQuest has sealed a deal with explorer Seapulse that will put it first in line to help develop over four billion barrels' worth of prospective resources the company is investigating, Seapulse said.EnQuest, which at a market cap of around $437 million is saddled with over $1…
Equinor has, together with partners Petoro, ConocoPhillips and Repsol, made an oil discovery from the Visund A platform in the Telesto exploration well in the northern part of the North Sea. The resources are estimated at 12-28 million barrels of recoverable oil…
Oil giant ExxonMobil, together with partner Qatar Petroleum (QP), made giant gas discovery to the east Mediterranean region after finding a gas-bearing reservoir offshore Cyprus and estimated in-place gas resources in the reservoir at 5 to 8 trillion cubic feet (tcf) of gas…
Norwegian oil and gas company Aker BP is switching emphasis from M&A towards exploration, taking a potentially riskier path to increase its resources after years when it has relied on acquisitions to add the bulk of its new barrels.The company…
China's state-owned CNPC has started developing a new offshore shale oilfield near the Bohai Rim Basin, the company said via its official newspaper on Thursday.CNPC aims to produce 50,000 tonnes of shale oil from the Bohai Rim Basin in 2019…
U.S. oil and gas major Exxon Mobil Corp said on Thursday it had found natural gas offshore Cyprus, a region already known for some of the world's largest such discoveries.The east Mediterranean island is located in the Levant basin, where both…
Lundin Norway AS, the wholly owned subsidiary of European oil and gas exploration and production company Lundin Petroleum, has completed the drilling of exploration well 7121/1-2 S, targeting the Pointer and Setter prospects in PL767 in the southern Barents Sea…
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