Latest News
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08 Apr 20
Norway: NPD reports reduced exploration activity with production maintained for now
The Norwegian Petroleum Directorate (NPD) reports that exploration activity on the shelf has been reduced, and production will be maintained for the time being, in spite of the corona outbreak and the decline in oil price. At the same time, the companies have announced and initiated several measures that could have long-term consequences for production and overall resource extraction. -
08 Apr 20
Brazil: Petrobras announces new oil discovery in the Campos Basin
Petrobras reports that it has encountered oil in carbonate reservoirs in the post-salt section in an exploration well on the Sudoeste de Tartaruga Verde block, located in the Campos Basin. -
08 Apr 20
Norway: Aker BP awards Allseas a call-off for removal and disposal of installations in the Valhall area
Aker BP has awarded Allseas a call-off for removal and disposal of multiple installations in the Valhall area in the North Sea in the period from 2021 to 2026. -
08 Apr 20
Zenith Energy completes fully subscribed private placement
Zenith Energy has received conditional approval for the private placement financing announced to the market on April 6 2020 to raise an aggregate total amount of approx. CAD921,000. The proceeds will be used to fund the Company's publicly announced acquisition campaign in Africa and to provide additional funding for Zenith's existing production portfolio. -
08 Apr 20
Egypt: SDX Energy announces commercial discovery at Sobhi well in Egypt
SDX Energy has announced that the SD-12X ('Sobhi') well in the South Disouq Exploration Permit onshore Nile Delta, Egypt, encountered 108 feet net of high-quality gas-bearing sands. The well was drilled on a sole risk basis and management's best estimate is that the well has encountered approx. 24 bcfe of recoverable gas and condensate resources. -
08 Apr 20
Rockhopper Exploration announces full-year results for the year ended 31 December 2019
Rockhopper Exploration, the oil and gas exploration and production company with key interests in the North Falkland Basin, has announced its audited results for the year ended 31 December 2019. -
08 Apr 20
UK: Baron Oil JV to relinquish Inner Moray Firth licence
Baron Oil and its JV partners have relinquished the Corallian Energy-operated Inner Moray Firth licence Licence P2470, awarded in the 31st Offshore Licensing Round, and which includes Blocks 11/23, 11/24c and 11/25b, following the disappointing results of the 11/24b-4 Wick well and subsequent 3D seismic reprocessing. -
08 Apr 20
TGS announces preliminary Q1 2020 net revenues and business update
Based on preliminary reporting from operating units, TGS management expects net segment revenues for the first quarter of 2020 to be approx. USD 152 million. Multi-client Investments for the quarter are expected to be approx. USD 138 million with a prefunding rate of 61%. -
08 Apr 20
Mauritania/Senegal: BP claims force majeure relating to the Greater Tortue Ahmeyim project
Golar LNG has received written notification of a force majeure claim from BP Mauritania Investments under the Lease and Operate Agreement between the Company and BP relating to the Greater Tortue Ahmeyim project, located offshore Mauritania and Senegal. -
07 Apr 20
UK: INEOS to INEOS to postpone shutting down of Forties Pipeline System until Spring 2021
NEOS FPS has responded to further requests from customers and delayed its planned shutdown of the Forties Pipeline System (which was originally planned for June 2020). The Shutdown will now be scheduled for Spring 2021. -
07 Apr 20
ExxonMobil reduces 2020 capex by 30 percent, cash opex by 15 percent; maintains long-term outlook
ExxonMobil said it is reducing its 2020 capital spending by 30 percent and lowering cash operating expenses by 15 percent in response to low commodity prices resulting from oversupply and demand weakness from the COVID-19 pandemic. -
07 Apr 20
Norway: Nova module ready for sail away to Neptune Energy’s Gjoa platform
Neptune Energy has announced the load out of the 740-tonne topside module for the Nova brownfield project in the Norwegian North Sea. The module will process the Nova field hydrocarbons and provide water injection facilities via the Gjoa platform. It is scheduled to be installed next month on Gjoa,
