Reserves News


Georgia Bullish on Offshore Natural Gas and Oil Reserves

Nov 15, 2018

Georgia Petroleum Council noted released results from a new study highlighting how Georgia’s economy could benefit from over $200 million in tax revenues as a result of offshore leasing in the Atlantic Outer Continental Shelf (OCS).“Cutting…

US holds more reserves than Saudi, Russia, says Rystad

Jul 04, 2016

A new independent estimate of world oil reserves has been released by Rystad Energy, showing that the US now holds more recoverable oil reserves than both Saudi Arabia and Russia. For US, more than 50% of remaining oil reserves is unconventional shale oil…

Mexico's CNH approves CGG

May 17, 2016

CGG become one of the few firms to be registered by Mexico’s National Hydrocarbons Commission (CNH) as an independent third party qualified to audit and certify Mexico’s reserves, either for oil and gas operators or directly for the CNH.  CGG…

Erin Energy releases new resource estimate for Ghana discoveries

Oct 05, 2015

Erin Energy Corp. announced that the resource volume assessment of the three previously discovered fields (Tano North, Tano West, and Tano South) has been completed in the Expanded Shallow Water Tano (ESWT) Block, located offshore Ghana. The ESWT block is operated by its subsidiary company…

Rosneft: Kara Sea field reserves confirmed

Dec 04, 2014

Russian authorities confirmed the reserves in the Pobeda oil and gas field, located on the Kara Sea shelf, Rosneft announced. The field was discovered through the Universitetskaya-1 well. The gas reserves were discovered in the chalk deposits of Cenomanian Age and Apt-Alb Age…

Pemex begins post-reform restructure

Aug 21, 2014

Mexico's Pemex has started a corporate restructure to become a more 'flexible and efficient,' it announced today. The announcement comes after Mexican president Enrique Pena Nieto approved the country's historic energy reform earlier this month…

Round Zero bolsters Pemex portfolio

Aug 15, 2014

Mexico’s Ministry of Energy (SENER) granted Petróleos Mexicanos (Pemex) almost all of the acreage detailed in its Round Zero wish list, including rights to all requested domestic proven and probable reserves (2P). The government fast…

Ruche discoveries off Gabon declared commercial

Jul 21, 2014

Harvest Natural Resources Inc. announced today that a Declaration of Commerciality (DOC) has been signed with the Gabonese Republic (Gabon) pertaining to the Dussafu Marin permit offshore Gabon. This follows Gabon's award, on 17 July…

EIA: Ecuador energy analysis

Jan 21, 2014

Ecuador, the smallest oil-producing affiliate of the Organization of the Petroleum Exporting Countries (OPEC), is the fifth-largest oil producer in South America, and has the third-largest oil reserves in the region, after Venezuela and Brazil…

Petrobras sees pre-salt reserves increase

Jan 15, 2014

Petrobras' proven pre-salt reserves are up 43% in 2013. Since 2007, the company has been adding increasing amounts to its proven reserves coming from the pre-salt layer, which extends from the south of the state of Espírito Santo to the state of Santa Catarina…

OE13: US energy independence

Sep 05, 2013

BP chief economist Christof Ruehl said the US will become energy independent, due to unconventionals, by 2030, in yesterday’s [Thursday] lunch, Energy Markets – the Short and Long Term. Ruehl said unconventionals (tight oil and shale…

OE13: Yet to find - 17 billion boe of European reserves

Sep 04, 2013

Wood Mackenzie presented its view of the role of independent oil and gas companies globally in the keynote session: “The independent oil company – mighty oaks from little acorns grow.” This peer group has been at the forefront of conventional exploration…

Delek estimates Tamar Southwest resource

Aug 22, 2013

Delek Group released a resource assessment report on its Tamar Southwest project that showed an average 684 Bcf of estimated undiscovered gas reserves in place in the project. This value is the undiscovered resource potential in two sands…

Colloquy: Changes loom in Mexico

May 14, 2013

COLLOQUY: Editor's Column The structure of the Mexican oil industry is on the verge of change, driven by a need to increase revenues and build reserves. The consensus is that Mexican fields are aging, production is declining, and although…

Pena Nieto denies privatization

Mar 19, 2013

Mexico's President Enrique Pena Nieto denied rumors that the state-owned oil company Pemex (Petroleos Mexicanos) will be privatized. Pena Nieto appeared at the 75th anniversary of the expropriation of the oil industry from foreign interests…

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