Exploration News

 

Number of Offshore Exploration Wells in Norway at 14-year Low

Oct 27, 2020

Oil firms are expected to drill just 30 exploration wells off the coast of Norway this year, the lowest level in 14 years as companies seek to manage spending amid a pandemic, the Norwegian Petroleum Directorate (NPD) said on Tuesday.The search…

Greece Calls for Tougher EU Stance Over Turkish Mediterranean Exploration

Oct 22, 2020

Greece urged the European Union on Wednesday to reconsider its customs union with Turkey in response to Ankara's continued gas exploration in contested Mediterranean areas, deploring what it termed Ankara's 'imperial fantasies.'After meeting…

PXP Energy, CNOOC in Talks on S. China Sea Work after Exploration Moratorium Lifted

Oct 19, 2020

The Philippines' PXP Energy Corp said it was in ongoing negotiations with China National Offshore Oil Corp (CNOOC) relating to a memorandum of understanding between Manila and Beijing on joint oil and gas development in the South China Sea.In a market disclosure…

'Marine Seismic Survey Disruptor' Gets Industry Funding

Oct 14, 2020

Blue Ocean Seismic Services, a company that describes itself as 'the marine seismic survey disruptor,' has secured a total of £10 million of Series A investment from bp Ventures, Woodside Energy, and Blue Ocean Monitoring.The company will use…

Equinor to Cut Exploration Staff by About 30%

Oct 02, 2020

Norwegian oil and gas firm Equinor plans to cut its exploration staff by about 30% globally by 2023 to reduce costs as the COVID-19 pandemic reduces demand for petroleum, the company said on Friday.Equinor said it wanted to focus on selected areas when searching for new oil and gas resources…

Norway: 'High Interest in Offshore Exploration Blocks'

Sep 25, 2020

The Norwegian authorities have received applications from 33 oil companies for the offshore acreage to be awarded in the licensing round Awards in Predefined Areas (APA) 2020.Norwegian Minister of Petroleum and Energy, Tina Bru: 'In a challenging year for the petroleum industry…

Giant Tuna Offshore Gas Find Could Save Turkey $21B

Sep 09, 2020

Turkey could save up to a whopping $21 billion in gas import costs with the development of it recently hit Tuna-1 gas discovery in the Black Sea, Norwegian energy intelligence firm Rystad Energy has estimated.As previously reported, Turkish…

Shell Buys Kosmos' Frontier Exploration Assets for Up to $200M

Sep 09, 2020

Oil and gas company Kosmos Energy said Wednesday it had agreed to sell some of its frontier exploration asset interests to Shell for up to $200 millionShell will acquire Kosmos’ interest in blocks offshore São Tomé & Príncipe, Suriname, Namibia…

ExxonMobil Hits Its 18th Oil Discovery Offshore Guyana

Sep 08, 2020

U.S. oil company ExxonMobil has made an oil discovery at the Redtail-1 well, offshore Guyana. The news of the discovery was shared Tuesday by both Exxon, and Hess, Exxon's partner in the prolific Stabroek Block,  This is the U.S. oil major's…

Erdogan: No threats can Deter Turkey's Exploration in Mediterranean

Aug 19, 2020

No threats can deter Turkey from seeking natural resources in the eastern Mediterranean, President Tayyip Erdogan said on Wednesday, adding that Ankara expects actors in the region to take steps to de-escalate tensions.Greece and Cyprus are…

Qatar Petroleum Farms Into Deepwater Block in Angola

Aug 18, 2020

Qatar's state-owned oil and gas company Qatar Petroleum has entered into a farm-in agreement for an acquisition of a stake in an offshore block in Angola.Qatar has reached the deal with Angola's Sonangol, and France's Total to acquire a 30% participating interest in Block 48…

France to Increase Mediterranean Military Presence over Turkish Oil & Gas Exploration

Aug 13, 2020

France will increase its military presence in the eastern Mediterranean, President Emmanuel Macron said on Wednesday, calling on Turkey to halt oil and gas exploration in disputed waters that has heightened tensions with Greece.The French leader…

Petrobras Selling Stake in Santos Basin Block

Aug 12, 2020

Brazilian oil company Petrobras is looking to sell at least half of its stake in a 698 square-kilometer pre-salt block in the Santos Basin offshore Brazil.Petrobras launched a teaser on Monday for the sale of 50% to 100% of its stake in the concession name BM-S-51…

Somalia to Announce Winners of First Offshore Bidding Round in 2021

Aug 06, 2020

Somalia expects to announce the winners of its first oil and gas licensing round early next year, as the country seeks petrodollars to help rebuild its struggling economy, a senior government oil official said on Wednesday.Battered by violence…

Spirit Energy's North Sea Wildcat Comes Up Dry

Aug 05, 2020

Offshore oil and gas company Spirit Energy has drilled a dry well in the North Sea offshore Norway.The Norwegian Petroleum Directorate said Wednesday that Spirit Energy Norway, as the operator of production license 780, was in the process of…

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Norway: PGNiG Gets Permit to Drill Copernicus Offshore Well

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