Navitas Petroleum News

 

Exxon, Qatar Petroleum ink Cyprus PSC

Apr 05, 2017

US supermajor ExxonMobil and Qatar Petroleum signed an exploration and production sharing contract with the government of the Republic of Cyprus for Block 10. Block 10 PSC signing. Image from Qatar Petroleum…

Guyana creates Petroleum Directorate

Jan 19, 2017

Guyana's Ministry of Natural Resources says it is planning to have a new Petroleum Directorate established and functioning within Q1 this year. The move comes as the South American country eyes its first offshore oil production, following…

Winners named for C-NLOPB bid round

Nov 10, 2016

The Canada-Newfoundland and Labrador Offshore Petroleum Board (C-NLOPB) received nearly US$563 million (CAD $758 million) in work commitments in its latest deepwater bid round for the East Newfoundland and Jeanne d’Arc regions, offshore the Canada-Newfoundland and Labrador areas…

Statoil to drill Njord NF2 well

Jul 26, 2016

The Norwegian Petroleum Directorate has granted Statoil Petroleum drilling permit for well 6407/7-9 S using the Songa Delta semisubmersible drilling rig.  The well, also called Njord NF2, is in production licence PL 107 C, operated by…

Bridge buys Orlando stake

Jun 06, 2016

Atlantic Petroleum entered into a US$1.1 million (DKK 7 million) sale and purchase agreement with Bridge Petroleum for its 25% interest in the Orlando development, offshore the UK. The deal also includes a deferred consideration in the…

Atlantic Petroleum gets LOG lifeline

Mar 28, 2016

Atlantic Petroleum entered into heads of terms with London Oil and Gas (LOG) to inject about US$11.4 million of funds and assets into Atlantic by 24 June 2016. “Atlantic Petroleum's Orlando & Kells assets are expected to have a high value when the market conditions improve…

Lundin secures more financing

Mar 21, 2016

Lundin Petroleum has announced that it has entered into a committed short term revolving credit facility (RCF) of US$300 million and received additional commitments of $135 million under the reserve-based lending (RBL) facility accordion…

New Zealand data pack updated

Feb 23, 2016

New Zealand Petroleum & Minerals, the government's petroleum permitting agency, has released its 2016 Petroleum Exploration Data Pack. This year’s data pack adds a number of new projects to the comprehensive compilation of open-file seismic and well data…

Drilling commences on Roc-1

Nov 25, 2015

Carnarvon Petroleum has announced that operator Quadrant Energy has spud the Roc-1 well on 24 November 2015. Drilling is expected to reach 4700m total depth, and take about 35-40 days trouble free. Well logging and sidewall coring is expected to take about 5-10 days on success case…

UH elevates petroleum engineering

Nov 23, 2015

The University of Houston (UH) petroleum engineering program – started in 2009 with just 20 undergraduate students – has been elevated to a full department within the UH Cullen College of Engineering. The move was announced this month. The new department…

African Petroleum farm out updates

Jun 30, 2015

African Petroleum, an independent oil and gas exploration company, is seeking strategic partners on its ten licenses in Côte d’Ivoire, Liberia, Senegal, The Gambia and Sierra Leone in order to share risk and potential reward of their exploration program…

Wintershall to sell assets to Tellus

Jun 18, 2015

Wintershall, a 100%-BASF subsidiary, plans to optimize its portfolio by selling to Tellus Petroleum its interest in assets in four non-operated fields in a US$602 million deal. The fields include Knarr (where Wintershall owns a 20% interest)…

Bahamas Petroleum Act takes next step

May 21, 2015

The Petroleum Bill and suite of associated regulations as well as a sovereign wealth bill have been put before the Bahamian House of Assembly for their second readings on 20 May, Bahamas Petroleum Co. announced. Image from Bahamas Petroleum…

Lundin farms-out Gemini

Feb 24, 2015

Lundin Petroleum, through its wholly owned subsidiary Lundin Norway, entered into an agreement to farm-out a 30% working interest in PL338C to Lime Petroleum Norway. PL338C contains the Gemini prospect, which is currently being drilled with the Island Innovator rig…

43 companies net Norwegian stakes

Jan 20, 2015

Norway's Ministry of Petroleum has welcomed interest in its latest Awards in Pre-defined Areas licensing round, despite the expection that future discoveries in the area will be smaller than in the past.  Stakes in some 54 new production…

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