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25 May 23
Scirocco Energy announces corporate update
Scirocco Energy, the AIM investing company targeting attractive assets within the European sustainable energy and circular economy markets, has provided an update on the divestment of the Ruvuma asset in Tanzania, and an update regarding its EAG Joint Venture.
25 May 23
Pharos Energy announces 2023 AGM trading and operations update
Pharos Energy has issued a Trading and Operations update in advance of the Company's annual general meeting (AGM). The Company's 2023 work programme has started well with strong operational delivery across its repositioned portfolio, including an encouraging drill result at the CNV field in Vietnam and a commercial discovery at the first of two exploration wells in the North Beni Suef concession in Egypt.
25 May 23
Colombia: Canacol Energy tests 22 MMscfpd from Lulo 1 - drilling Lulo 2 appraisal well
Canacol Energy has provided information concerning the new Lulo 1 gas discovery and near term drilling plans. Lulo 1 was permanently tied in and production tested through the Jobo gas processing facilities at an average rate of approx. 17 MMscfpd for 7 days. Canacol has now commenced drilling of the Lulo 2 appraisal well and, on completion, Canacol will mobilize the rig to commence drilling of the Pina Norte 1 exploration well.
25 May 23
Norway: Aker BP announces oil discovery near Yggdrasil
Aker BP is nearing completion of drilling the Øst Frigg Beta/Epsilon exploration well, situated in the Yggdrasil area of the Norwegian North Sea. The well has resulted in a significant oil discovery. Preliminary estimates indicate a gross recoverable volume of 40-90 million barrels of oil equivalent (mmboe), surpassing the previously communicated pre-drill estimate of 18-45 mmboe.
24 May 23
UK: RWE announces development proposals for three new carbon capture projects across the UK
RWE, the UK’s leading electricity generator, has announced plans to progress three new carbon capture projects as it leads the way towards helping decarbonise UK power.
24 May 23
Uzbekistan: Condor Signs HoA to enhance gas production at eight existing gas-condensate fields and two exploration blocks
Condor Energies has signed a HoA with the Ministry of Energy, the Ministry of Mining Industry and Geology and the national hydrocarbon energy company JSC Uzbekneftegaz for an investment project to assume full operations of eight existing gas-condensate fields along with two additional exploration blocks with the objective of increasing production rates and recoverable reserves.
24 May 23
Maha Energy completes the business combination with DBO 2.0
Maha Energy has completed the previously announced business combination with DBO 2.0 S.A. ('DBO'). The consideration for all shares in DBO amounted to 34,829,057 new shares in Maha.
24 May 23
Argentina: Vestas secures 72 MW order in Argentina
Vestas has received an order for a project in Argentina that includes supply of 16 V150-4.5 MW turbines as well as a 30-year Active Output Management 5000 (AOM 5000) service agreement. Vestas pioneered Argentina's wind energy market with the installation of the country's first commercial wind turbine in Comodoro Rivadavia in 1994.
24 May 23
Aquaterra Energy seals multi-million riser deal with BP
Aquaterra Energy, a leader in global offshore engineering solutions, has secured a multi-million subsea riser contract through a competitive tender with BP for a subsea well development project located in Trinidad and Tobago. The contract will see Aquaterra Energy deliver a subsea riser system to BP’s Cypre Project, off the southeast coast.
24 May 23
UK: Jersey Oil and Gas announces final results for Y/E 31 December 2022
AIM-listed Jersey Oil & Gas, an independent upstream oil and gas company focused on the UKCS region of the North Sea, has announced its audited financial results for the year ended 31 December 2022. 2022 was an instrumental year in securing the future success of the Company with the farmout of the Greater Buchan Area Development to NEO Energy.
24 May 23
TGS and KONGSBERG to cooperate for data-driven solutions for offshore wind field development
TGS and Kongsberg Gruppen (KONGSBERG) have announced a strategic collaboration to jointly develop integrated data and digital solutions for the offshore wind industry. The aim of the partnership is more efficient use of data and digitalization to drive faster scaling of offshore wind.
24 May 23
Angola: Corcel acquires 90% interest in APEX
AIM-listed Corcel, the extractive industries exploration and development company, with interests across battery metals and oil and gas, has signed its first oil and gas acquisition with the purchase of a 90% interest in Atlas Petroleum Exploration Worldwide ('APEX'), that has working interests in several historically producing oil assets in the Kwanza Basin, onshore Angola.
24 May 23
Biogas: TotalEnergies acquires a stake in Ductor to jointly develop new projects using its innovative technology
TotalEnergies has acquired a 20% stake in Ductor, a Finland-based start-up that has developed an innovative technology to process high-nitrogen organic waste, such as poultry manure, which is usually difficult to use for biomethane production. By allowing the treatment of new types of input, this technology is helping to accelerate the development of the biogas value chain, thus contributing to the energy transition.
24 May 23
Australia: Empire Energy announces Beetaloo operations update
Empire Energy has announced a Beetaloo operations update. Carpentaria-2H flow testing complete following continued strong gas rates. Development planning for pilot project final investment decision continues. Multiple parties are expressing strong interest in purchasing Empire’s Beetaloo gas in both the pilot phase and full development phase.
24 May 23
Coro Energy announces final results for the year ended 31 December 2022
Coro Energy has announced final results for the year ended 31 December 2022. The Operator of the Duyung PSC in Indonesia, in which Coro holds a 15% interest, has engaged a global investment bank to lead a farm-down process for the divestment of a portion of its interest in the Duyung PSC. Coro may participate pro rata in the farm-down process and may also entertain a full exit, depending on the terms offered.
24 May 23
EnQuest announces operations update
EnQuest has announced an operations update. The Company has continued to deliver strong operational performance across its operated portfolio during the early part of the year, with production to the end of April above the top end of 2023 guidance.
24 May 23
UAE: ADNOC and TAQA announce project for sustainable water supply to onshore operations worth up to $2.4 billion
ADNOC and Abu Dhabi National Energy Company (TAQA) have announced the award of a strategic investment project estimated at up to $2.4 billion (AED 8.8 billion) to provide sustainable water supply for ADNOC’s onshore operations.
24 May 23
BW Energy announces first quarter 2023 results
BW Energy has announced first quarter 2023 results. EBITDA for the first quarter of 2023 was USD 18.5 million, down from USD 21.7 million in the fourth quarter of 2022, mainly due to lower oil production. BW Energy holds majority interests in three hydrocarbon licenses in Gabon, Brazil, and Namibia.
24 May 23
Panoro Energy reports interim results for the first quarter of 2023
Panoro Energy has announced strong financial performance with revenue of USD 60.7 million and EBITDA of USD 35.6 million for the first three months of 2023.
24 May 23
Brazil: Seacrest Petroleo reports first quarter 2023 results
Seacrest Petroleo, an independent oil and gas production company with an integrated portfolio of onshore producing oil fields and export infrastructure onshore in Espírito Santo, Brazil, has reported interim results for the first quarter of 2023.
24 May 23
UK: Unite offshore strike action steps up as 1650 contractors to strike hitting oil and gas operators
Unite the union has confirmed that around 1650 contractors will begin two new rounds of 48-hour strike action in an increasingly bitter dispute over jobs, pay and conditions in the offshore sector. Fresh rounds of 48-hour action to hit multibillion corporations including BP, Shell and Total.
23 May 23
Norway: Johan Sverdrup produces at increased plateau
Equinor reports that during a capacity test at Johan Sverdrup, the field reached a record-high production level of 755,000 barrels of oil per day. This equals six to seven percent of the daily European oil consumption.
23 May 23
Vietnam: Eni and the Ministry of Agriculture and Rural Development of Vietnam to cooperate in the areas of energy transition
Eni and the Ministry of Agriculture and Rural Development of Vietnam have signed a memorandum of understanding to cooperate in identifying initiatives in the fields of agri-feedstock and carbon credit generation from nature-based carbon offset solution.
23 May 23
Norway's oil production in April lower than the NPD’s forecast
Preliminary production figures for April 2023 show an average daily production of 2,035,000 barrels of oil, NGL and condensate. Oil production in April is 0.5 percent lower than the NPD’s forecast and 1.3 percent lower than the forecast so far this year.
23 May 23
Linklaters advises on two ESG deals - in Japan and in Chile
Linklaters has advised Actis on the establishment of a new renewables platform in Japan and its investment in Hergo Japan Energy Corporation. In Chile, Linklaters has advised the Republic of Chile on the global offering of its peso-denominated 6.0% Bonds.
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