Latest News

Reabold Resources Plc: Wick Well Result

Reabold announced that Corallian Energy Limited, operator of the Wick well located in the UKCS Block 11/24b (Licence P2235), has informed the Company that the target Beatrice sands, whilst present in the well, were water bearing. The well has been drilled to a total depth of 1000m.Accordingly, the well will…


Woodside Awards Contracts for Scarborough Project

The contracts are for engineering activities related to the upstream development’s floating production unit, the export trunkline and the subsea umbilical risers and flowlines.Each contract includes an option to progress to execute phase activities, which is subject to, among other conditions, a positive final investment decision (FID) being taken on…


Gas and Condensate Discovery South of the Kristin Field

Equinor has, together with its partners Petoro, ExxonMobil and Total, proven gas and condensate in the Norwegian Sea Ragnfrid North (6406/2-9 S) exploration well. Recoverable resources are estimated at 6-25 million barrels of oil equivalent.“We are pleased to start the new year by announcing a new discovery. Exploring for resources…


MDL Concludes 4-job Campaign with TechnipFMC

Maritime Developments has successfully completed a four-project North Sea campaign with TechnipFMC.The work scopes on the jobs, which took place throughout 2018, included installation and retrieval of umbilicals, jumpers, risers and flowlines.In total 16 reels were handled and close to 40km of product was installed from three different vessels, using…


L&T Hydrocarbon Consortium Wins another EPCI Order from Saudi Aramco

L&T Hydrocarbon Engineering (“LTHE”), a wholly-owned subsidiary of Larsen & Toubro, in consortium with Subsea 7 has won yet another award for two projects from Saudi Aramco.The award consists of engineering, procurement, construction and installation (EPCI) of three Oil Production Deck Manifolds and Subsea Pipelines in Zuluf and Berri Fields…


Investing NOK 2.3 billion to Recover More Oil from Gullfaks

The Gullfaks partners have decided to drill seven new wells and thereby improve oil recovery by 17 million barrels with good profitability. On behalf of the licence partners, Equinor’s executive vice president for Development and Production Norway, Arne Sigve Nylund, presented an amended plan for development and operation (PDO) to…


Record Licence Awards in APA 2018

On 15 January, 33 companies were offered ownership interests in a total of 83 production licences on the Norwegian Shelf in the Awards in Predefined Areas (APA) 2018. This is the largest number ever awarded in one licensing round.Of the 83 production licences, 37 are in the North Sea, 32…


Exploitation Permit for CO2 Storage on the Norwegian Continental Shelf

Equinor has been awarded an exploitation permit for CO2-storage on the Norwegian Continental Shelf.This was decided by King-in-council. The allocated area for storage of CO₂ is located near the Troll oil and gas field and was announced in July 2018.Equinor is currently performing front-end engineering and design (FEED)-studies on storage…


Euronav Sells Suezmax Felicity for Offshore Project

Euronav NV announced that the Company has sold the Suezmax vessel Felicity (2009 – 157,667 dwt) to a global supplier and operator of offshore floating platforms. A capital loss on the sale of approximately USD 3.0 million will be recorded in Q4 2018. The cash generated on this transaction after…


OMV: Increased Wisting Volumes

OMV has made a significant effort over the past year to get a better understanding of the shallow Wisting reservoir. Six wells have been drilled to date, yielding a huge amount of data. In addition, the Wisting team has successfully combined traditional seismic with Controlled Source Electro Magnetic (CSEM) in…


LLOG Exploration Provides Operational Update

LLOG Exploration Company, L.L.C., a privately-owned exploration and production company focused on the deepwater Gulf of Mexico, provided a detailed update on the status of its recent successes and ongoing projects. Key highlights include: - Drilled successful discovery on LLOG’s exploratory prospect, Nearly Headless Nick, in Mississippi Canyon 387 -…


Petrobras: Exercise of Pre-emption Right in the Sixth Bidding Round of Areas Under Production Sharing Regime

Petrobras reported that it formally expressed to the National Energy Policy Council (CNPE) interest to exercise the pre-emption right for the 6th Bidding Round of exploration blocks under the production sharing regime, pursuant to Law 12,351/2010 and Federal Decree 9.041/2017.Considering the parameters disclosed in CNPE Resolution no. 18 of 2018,…


Equinor has Received Consent for Exploration Drilling in the Norwegian Sea

Petroleum Safety Authority Norway have given Equinor consent to drill exploration well 6507/3-13 in production licence 159B in the Norwegian Sea.The drilling site is around 13 kilometres west of the Norne field.Well 6507/3-13 has the following geographical coordinates:65º 59’ 26.44" N07º 44’ 43.02" EWater depth at the site is 368…


BP and Eni to Agree to Pursue Major New Exploration Opportunity in Oman

BP and Eni signed a heads of agreement (HoA) with the Ministry of Oil and Gas of the Sultanate of Oman to work jointly towards a significant new exploration opportunity in Oman.Under the HoA, the two companies will work with the Government of Oman towards the award of a new…


Ophir Rejection of Possible Offer

Rejection of the possible offer for Ophir by PT Medco Energi Global PTE Ltd (“Medco Global”) (a wholly-owned subsidiary of PT Medco Energi Internasional Tbk (“Medco”)).The Board of Ophir has now met formally to consider the possible offer announced by Medco on 11 January 2019 to acquire the issued and…


Premier Oil: Statement re Market Speculation

Premier noted the press speculation regarding the possibility of the Group making a UK acquisition.Premier will continue to look at opportunities to acquire UK North Sea assets in line with the Group’s stated strategy. There is no guarantee that the Group will bid in any process or that any process…


TAP Completes Successful Euros 3.9 billion Project Financing

As one of Europe’s most strategic projects, TAP successfully completed financial close in December 2018, securing Euros 3.9 billion - the largest project finance agreed for a European infrastructure project in 2018.Luca Schieppati, TAP’s Managing Director, said: “With the financial close now achieved, TAP has reached another major milestone of…


Lundin Petroleum Announces Increased Reserves and Contingent Resources

Lundin Petroleum AB announced that as at 31 December 2018, its proved plus probable net reserves (2P reserves) are 745 million barrels of oil equivalent (MMboe), its proved plus probable plus possible net reserves (3P reserves) are 901 MMboe and its best estimate net contingent resources (contingent resources) are 225…


Eni Signs MoU for Conducting Petroleum Exploration in Block 1 Offshore Bahrain

A Memorandum of Understanding (MoU) has been signed between the National Oil and Gas Authority of the Kingdom of Bahrain (NOGA) and Eni with the aim to pursue petroleum exploration of Block 1, an offshore area of over 2,800 km2 still largely unexplored, located in the northern territorial waters of…


OGA Update: 31st Supplementary Offshore Licensing Round - Greater Buchan Area Plan

The OGA has published guidance regarding the technical aspects of applications for the forthcoming 31st Supplementary Offshore Licencing Round. Additional seismic packages (prefix AH and MH) have also been added to the Greater Buchan Area CDA data pack.More information can be found here.