Uruguay state-run energy firm Ancap is set to agree to final terms for a record number of seven offshore exploration licenses next month, a senior executive told Reuters, as the frontier market lures bets from global players like Shell.To date no oil or gas has been found in Uruguayan waters…
Shell's Cullinan-1X exploration well offshore Namibia did not make a commercial oil and gas discovery, the company said on Thursday.Namibia, which has yet to produce any oil and gas, has attracted strong interest from international companies…
TotalEnergies' Chief Executive Patrick Pouyanne will visit Suriname next week with the possibility of 'good news' on developing oil projects in the South American country, he said on Wednesday at a conference.France's TotalEnergies and partner U…
Oil and gas company Global Petroleum said Monday that the Namibian Ministry of Mines and Energy had given approval for the company and its partners to proceed to the First Renewal Period ('FRP') of Walvis Basin license PEL 94, with a duration of two years from September 2023 to September 2025…
Offshore drilling rig owner Northern Ocean said Wednesday that its Deepsea Mira semi-submersible drilling rig had kicked off its drilling contract with TotalEnergies in Namibia, where the French oil major last year made a giant oil discovery with its Venus-1x well…
Exploration spending (excluding appraisal) will recover from historic lows to an average of $22 billion per annum in real terms over the next five years, according to a new report from Wood Mackenzie.Tailwinds from attractive exploration economics…
SFL Corporation has signed an offshore drilling contract in Canada with a subsidiary of the Norwegian oil firm Equinor for the harsh environment semi-submersible rig Hercules. The estimated contract value is approximately $100 million.The contract is for one firm well plus one optional well…
Spending on conventional oil and gas exploration is on the rise and is set to top $50 billion this year, led by offshore investments, however, discovery volumes are falling to new lows, despite the rising investments. This is according to Rystad Energy…
Africa Oil Corp. has entered an agreement to increase its operated working interest (“WI”) in Block 3B/4B, located in the Orange Basin offshore South Africa and, the company says, on trend with the Venus, Graff, La Rona and Jonker oil discoveries in the nearby Namibia…
Oil and gas companies have intensified the hunt for new deposits in a long-term bet on demand, as they reinvest some of the record profits from the fossil fuel price surge driven by the Ukraine war, according to data and industry executives…
French oil major TotalEnergies has been named the upstream industry's most admired explorer and has received the Discovery of the Year award in Wood Mackenzie's annual Exploration Survey. This is TotalEnergies' third time winning the most-admired explorer award…
After a slowdown in activity during 2020/2021 due to soft commodity prices, demand for FPSOs is picking up.With exploration hotspots like Namibia’s Orange Basin and the East Mediterranean delivering new finds, the FPSO market outlook is healthy…
Norwegian offshore drilling company Odfjell Drilling has, on behalf of Northern Ocean, agreed a contract extension for the Deepsea Bollsta drilling rig with Shell.The contract extension for the offshore drilling rig, owned by Northern Ocean…
Africa Oil Corp.'s President and CEO Keith Hill has informed the Board of his intention to step down from his executive role at Africa Oil.'Mr. Hill has led the Company for more than fourteen years and has presided over major milestones, including…
Offshore oil and gas exploration spending will increase more than 20% globally this year and the growth will continue into the next, oilfield services firm SLB said on Wednesday.'Offshore is experiencing a renaissance, with significant breadth and anticipated durability…
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