Chevron Corp plans to spend $20 billion next year on oil and natural gas projects, the second-largest U.S. oil producer said on Thursday in a statement, its first increase in four years.Its 2019 capital spending budget is at the high end of…
Operator Aker BP has completed an acquisition of Hess Norge, which owns 10% stakes in the Norwegian North Sea Valhall and Hod fields, from Hess Corp for US$2 billion. At the same time, a deal by Aker BP to sell 10% interest in the…
Energean Oil & Gas expects to make a final investment decision (FID) for the Karish and Tanin fields offshore Israel in early 2018 as new gas sale purchase agreements (GSPAs) provide further momentum for the FID. Karish and Tanin fields…
Norway's Aker BP has agreed to divest a 10% stake in the Valhall and Hod fields to new firm Pandion Energy. The move comes shortly after Aker BP acquired Hess Norge, which gave it 100% ownership in Valhall and Hod, and comes as Aker BP…
Mediterranean explorer Energean Oil & Gas praised the “untapped potential” of its two blocks offshore Montenegro, which may hold 1.8 TCF of gas and 144 MMboe of liquids (438 MMboe in total), according to a new report by Netherland Sewell & Associates (NSAI)…
The field development plan for the Karish and Tanin fields offshore Israel has been approved by the Israeli Petroleum Commissioner. Energean Israel, a 50/50 joint venture between Energean Oil & Gas and Kerogen Capital, plan to drill three wells…
Pandion Energy has been pre-qualified as licensee on the Norwegian Continental Shelf (NCS) and received an approval for the acquisition of all licenses in Tullow Oil Norge’s existing portfolio including a 20% interest in PL 636 containing the Cara oil and gas discovery…
Energean Oil & Gas has submitted the field development plan (FDP) for the Karish and Tanin natural gas fields offshore Israel, with a target of reaching a final investment decision by the end of the year, and first gas by 2020. Map of Karish and Tanin…
Overall spending on the UK Continental Shelf is expected to fall 3% compared to last year, to £17 billion, as projects continue to struggle, while exploration remains at a record low, according to a new report. But, new capital investment…
Energean Oil & Gas stands to gain a US$50 million investment from Kerogen Capital for its Karish and Tanin gas fields, offshore Israel. The move could see the independent private equity fund manager take a 50% stake in Energean’s Israeli subsidiary…
Kerogen Capital plans to commit up to US$300 million to back Pandion Energy, as the company pursues exploration, appraisal and development opportunities on the Norwegian Continental Shelf (NCS) through acquisitions, farm ins and licensing rounds…
CIMC Offshore Co., a wholly-owned subsidiary of China International Marine Containers (CIMC) Co., intends to partner with Shenzhen Mangrove Venture Capital Co. and China Industrial International Trust Co. to jointly establish Tianjin Lanshui…
Hurricane Energy is looking to raise US$86 million (£70 million) of new capital to fund its Lancaster development, West of Shetland, offshore the UK. Image from Hurricane Energy. The…
UK independent Zennor Petroleum has drilled a successful appraisal well on the Finlaggan gas condensate accumulation in the UK North Sea. Finlaggan is in license P2013, in Block 21/5c, awarded in the 27th licensing round to Zennor. The Finlaggan discovery was made by ConocoPhillips in 2005…
Statoil launched a new venture capital fund, Statoil Energy Ventures, dedicated to investing in attractive and ambitious growth companies in renewable energy, supporting its strategy of growth in new energy solutions. Image from Statoil…
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