Vaar Energi's Balder X oil and gas project will cost $1.2 billion more than previously expected with petroleum output delayed by about nine months to the third quarter of 2024, the company said on Monday, sending its shares sharply lower.The changes reflect increased work scope, a continued impact from global supply chain challenges, COVID-19 and an altered schedule, lifting the overall cost to $4…
Offshore drilling firm Seadrill has appointed Ana Zambelli as a new board director.Zambelli has more than 20 years of experience in the energy services sector in operational, commercial and finance roles. She served as Chief Commercial Officer at Maersk Drilling…
Asia Pacific-focused oil and gas company Jadestone Energy has completed the acquisition of a non-operated 16.67% working interest in the Cossack, Wanaea, Lambert, and Hermes ('CWLH') oil fields development offshore Australia from BP.The fields are part of the North West Shelf Oil Project…
Corrects with Dana Petroleum spokesman comment to clarify deal refers only to Dutch business.Korea National Oil Corporation agreed to sell the Dutch assets of North Sea oil and gas producer Dana Petroleum to private firm Waldorf Production,…
Norwegian oil and gas company Vår Energi said Monday it had acquired 30% ownership in production licenses (PL) 820S and 820 SB north of the Balder field in the North Sea from Lime Petroleum, Pandion Energy, and Lundin Energy Norway AS (now Aker BP)…
Oil prices are proving resilient to global economic recession fears and have outperformed major equity indices and the U.S. dollar so far this year as Western sanctions on Russia further limit supplies to an already tight market.The two major…
Malaysian oil and gas company Petronas, via its subsidiary Petronas North Ketapang, has signed a Production Sharing Contract (PSC) for the North Ketapang Block located onshore and offshore East Java, Indonesia.Petronas won the North Ketapang…
Italian oil and gas firm Eni said Monday it had won five new exploration licenses in Egypt, granted by the Egyptian Ministry of Petroleum. The licenses, four of which as Operator, are in the Egyptian offshore and onshore, and follow the participation…
State oil firm Abu Dhabi National Oil Company (ADNOC) is weighing an initial public offering (IPO) of its marine services, logistics and shipping arm next year, two sources familiar with the matter told Reuters.ADNOC Logistics & Services (ADNOC…
Oil and gas companies Tullow Oil and PetroSA have decided to pre-empt the sale of Occidental Petroleum’s interests in the Jubilee and TEN fields offshore Ghana to Kosmos Energy, as announced in October.This doesn’t mean Kosmos will not increase its interests in the said fields…
INEOS E&P Norge has obtained a drilling permit from the Norwegian Petroleum Directorate for an offshore exploration well in the Norwegian Sea.INEOS will drill the well, formally named 'Well 6306/3-1 S' - the Fat Canyon Prospect - using the Borgland Dolphin semi-submersible drilling rig…
Expectations are growing that BHP Group Ltd will deliver a verdict on the future of its petroleum business at its results next week, as it comes under increasing pressure to cut its fossil fuel footprint.The world's biggest miner has been facing…
Norwegian oil and gas company OKEA has appointed Trond Omdal as new VP Investor Relations.'Mr Omdal has extensive experience from equity research and petroleum market analysis, management consulting and investment banking. He most recently worked…
Oslo-listed oil and gas company PetroNor has acquired SPE Guinea Bissau AB, a Guinea Bissau subsidiary of Sweden-based Svenska Petroleum. The acquisition entitles sub-Saharan Africa focused PetroNor to become the operator of the Sinapa (Block…
Oil and gas company Dana Petroleum has brought online a new well on the Bittern oil and gas field in the UK North Sea.'Production from the new B5 well, which is a sidetrack of an existing Bittern well, is running at over 5,000 barrels of oil per day…
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