Exploration News

 

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…

Indonesia to Offer More Flexibility to Oil and Gas Explorers

Aug 03, 2020

Indonesia announced over the weekend that it had made revisions to a 2017 law that will give oil and gas investors more flexibility when choosing their contract options for exploration.The revisions, which came into effect on July 16, allow…

Eni Confirms 'Significant Hydrocarbon Accumulation' Offshore Vietnam

Jul 27, 2020

Italian oil and gas company Eni announces an exploration well has confirmed 'a significant hydrocarbon accumulation' on the Ken Bau discovery offshore Vietnam, further expanding its potential.The exploration well Ken Bau-2X, located in Block 114…

Beach Energy, Bridgeport Energy Get Offshore Exploration Blocks in Victoria, Australia

Jul 13, 2020

Beach Energy and Bridgeport Energy have been awarded permits to explore for gas in Victoria, Australia, state waters near Portland and Port Campbell.'As Victorians turn up their gas heaters during the winter chill, the search for new gas off…

Oil Search to Write Off Some PNG Exploration Assets

Jul 13, 2020

Oil Search Ltd said on Monday it plans to write off around $380 million, mostly on some exploration assets and a gas-to-power project in Papua New Guinea, due to the outlook for oil and gas prices and the shut down of a gold mine.The Papua New…

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