Statoil and Rocksource entered into a sale and purchase agreement (SPA) for the PL 602 license in the Norwegian Sea, in which Statoil will acquire Rocksource’s 10% interest. PL 602 is located immediately west of Statoil’s Aasta Hansteen…
Statoil has agreed to buy stakes in production license 602, close to the Aasta Hansteen development project, in the Norwegian Sea from Norwegian exploration firm Rocksource and Faroese explorer Atlantic Petroleum. Statoil will take Rocksource’s 10% stake in PL602 and 2…
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…
MEO Australia is eying drilling on its Beehive oil prospect after an international exploration company executed an option which will allow it to farm-in to any of MEO Australia's WA-488-P, AC/P50 and AC/P51 permits off northwestern Australia…
Lime Petroleum Norway is to acquire an additional 20% in production licenses (PL) 591, 591B and 591C in the Norwegian Sea from Tullow Oil, increasing its holding in each to 25%. The licenses are operated by Tullow and an exploration well…
The PetroRio acquisition of Shell’s 80% stake in the Bijupirá and Salema fields, and the Fluminense FPSO cost the company US$150 million. PetroRio acquiring the Fluminense FPSO in Shell deal. Image from Modec…
GE Oil & Gas invested more than US$20.7 million across its subsea manufacturing facilities in Montrose, Scotland, enhancing the business’s test and assembly (T&A) and manufacturing capabilities in direct response to customer need. GE…
China National Offshore Oil Corp. (CNOOC), signed two production sharing contracts (PSCs) with SK Innovation Co., Ltd. (SK) for Blocks 04/20 and 17/03 in the South China Sea. The two blocks are located in the Pearl River Mouth basin. Block…
Petrobras said tests confirmed the size of the oil discovery at Libra's first appraisal well, 3-BRSA-1255-RJS (3-RJS-731), informally known as NW-1. Tests at the well, located 185km off Rio de Janeiro, proved an 290m oil column and carbonate reservors of high porosity and permeability…
Development drilling has started on the INPEX-operated Ichthys gas-condensate field, part of the Ichthys LNG Project about 200km offshore Western Australian. The first of about 20 horizontal production wells to be drilled was spudded 3 February…
Wintershall Norge awarded DNV GL a US$3.95 million contract to be the sole supplier for the combined role of independent verification body (IVB) and third party design verification scope for the subsea, umbilicals, risers and flowlines (SURF) part of the Maria field development project…
Germany’s Wintershall picked up eight new exploration licenses from the Norwegian Ministry of Petroleum and Energy in the current licensing round APA 2014. Image from Wintershall. Wintershall…
Faroe Exploration is planning four exploration wells offshore Norway in 2015 - Shango, Pil, Blister and Kvalross. Shango, operated by Total (Faroe 20%), is in the Norwegian North Sea on the northern part of the prolific Utsira High. The…
Noreco has reduced its ownership in license 9/95 on the Danish continental shelf from 20.1% to 16% by transferring the balance to Nordsøfonden, the Danish State’s oil and gas company. Drilling of the exploration well 9/95 Xana started…
The world's oil and gas exploration companies are expected to cut capital expenditures 17% this year as a deep slump in crude oil prices takes a toll on budgets, according to a survey by Cowen and Company, released Wednesday. The survey…
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