BW Offshore's exploration and production subsidiary BW Energy is gearing up for an initial public offering of shares in the first quarter of 2020, and listing on the Oslo exchange an independent company.BW Energy was established by the FPSO…
The offshore oil & gas industry is witnessing the beginning of what could be a new investment cycle as worldwide activity is ramping up.Rystad Energy, the energy research and business intelligence company, said that offshore investments would climb 8% in 2020…
Oil prices edged higher on Tuesday as investors focused on the signing of a preliminary trade deal between the United States and China, the world's top oil consumers, and on expectations of a drawdown in U.S. crude oil inventories.However, price gains were capped by receding Middle East tensions…
Sea usesWhile others are known as rulers of the seas, Norway has been more known as users, locally and worldwide. No wonder, since Norwegian waters are covering an area of close to six times the size of the Norwegian land areas.There is considerable…
At 670 million barrels of recoverable oil, Mexico’s Zama field would be a nation-building giant in any prolific oil-bearing basin.That reserves estimate — made this week by Netherland, Sewell & Associates for Talos Energy, the Houston-based…
With the Argos semisubmersible due to begin production from BP’s Mad Dog field in late 2021, the drilling team needed to ensure the drilling campaign stayed on schedule.BP did this by dedicating and integrating experienced drilling engineers and geoscientists to plan…
Equatorial Guinea will add 20,000 barrels per day (bpd) of oil production by October, the country's oil minister said on Sunday. 'We expect an increase this year of around 20,000 bpd additional because of the new discoveries,' Gabriel Obiang Lima told reporters on the sidelines of an energy event…
The Energy Transition and Extinction Rebellion may have led the energy news agenda and stimulated reflection in many exploration and production (E&P) boardrooms in 2019, but the impact on exploration drilling is not yet apparent. The global high impact well[1] count in 2019 was 91 wells…
Oil prices dropped on Friday extending days of losses as the threat of war in the Middle East receded and investors switched attention to economic growth prospects and the rise in U.S. crude oil and product inventories.Brent crude fell 20 cents…
The global oil and gas explorers powered ahead and discovered 12.2 billion barrels of oil equivalent (boe) in 2019, the highest volume since 2015.According to Rystad Energy, last year recorded 26 discoveries of more than 100 million boe, with…
Mexico's President Andres Manuel Lopez Obrador said on Wednesday his government was not contemplating reopening oil and gas auctions this year, ending hopes his left-leaning government will soon spur private investment in the energy sector.'It's not contemplated…
Irish oil and gas explorer Providence Resources has appointed Alan Linn as a new CEO. He hopes to help the company with the development of long-delayed Barryroe offshore oilfield. He will also join the board as an executive director.In a statement on Thursday…
Africa focused oil and gas firm Vaalco Energy has brought online another well at the Etame field offshore Gabon. The well Etame 11H well has been producing at a higher than anticipated rate, the company said Wednesday.The Etame 11H well is the second development well in Vaalco0s 2019/2020 program…
Norwegian energy company Equinor and its partners plan to extend the oil production from the Statfjord Area in the Norwegian part of the North Sea towards 2040. The area has been in production for 40 years.Based on the extensive mapping of the…
Premier Oil and Rockhopper, two oil companies working to develop the Sea Lion oil field offshore the Falkland Islands, have welcomed Navitas as their potential new partner in the project.The companies have signed non-binding heads of terms with Navitas Petroleum…
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