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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.
23 May 23
Mozambique: TotalEnergies publishes report on human rights in Cabo Delgado, together with an action plan decided by the Mozambique LNG partners
TotalEnergies has published a report on the humanitarian situation in the province of Cabo Delgado where the Mozambique LNG project is located, as well as the action plan decided by Mozambique LNG partners based on the recommendations of the report.
23 May 23
UK: Hartshead Resources announces operational update and progressions towards development
Hartshead Resources has announced that it is nearing completion of the FDP for the Phase I development of the Anning and Somerville gas fields in the Southern Gas Basin. The Company expects to have finalised the FDP and be in a position to submit it to the NSTA within the next few weeks.
23 May 23
CGG awarded OMV contract for multi-year dedicated center
CGG has been awarded a new contract by OMV to continue operating a dedicated center at its head office in Vienna for an initial three-year period. CGG has been providing high-end seismic imaging services to OMV in its office for over 40 years.
23 May 23
Uganda: Africa Oil announces the decision to withdraw from its Kenya project
Africa Oil Corp has submitted withdrawal notices to its JV partners on Blocks 10BB, 13T and 10BA in Kenya, to unconditionally and irrevocably, withdraw from the entirety of the joint operating agreements and Production Sharing Contracts for these concessions. The carrying value of the Kenya intangible exploration assets was written down to $58.6 million at December 31, 2022, and the Company intends to further impair this value to zero.
23 May 23
Norway: TGS to launch Multi-Client Wind and Metocean Measurement Campaign at Utsira Nord, Norway, with strong industry support
As the global floating wind industry gathers in Haugesund, Norway for the Floating Wind Days conference, TGS has announced the start of Norway’s first-ever LiDAR buoy measurement campaign to support offshore wind development.
23 May 23
US: COPL announces gas gathering system construction progress
Canadian Overseas Petroleum and its affiliates, an international oil and gas exploration, production and development company with production and development operations focused in Converse and Natrona counties, Wyoming, USA, has announced a project construction update for the gas gathering system at its Barron Flats Shannon (Miscible) oil production Unit.
23 May 23
Baron Oil announces final results for Y/E 31 December 2022
AIM-listed Baron Oil, the AIM-quoted oil and gas exploration company, has announced its audited financial results for the year ended 31 December 2022. During the year, both the Chuditch PSC and Dunrobin projects were subject to intensive technical work aimed at maturing the assets to 'drill ready' status.
23 May 23
US: Southern Energy announces Gwinville field acquisition
Southern Energy Corp has entered into a definitive agreement with PetroTX Energy to acquire the remaining producing acreage in the Gwinville field not already owned by the Company, in Jefferson Davis County, Mississippi for a cash purchase price of $3.2 million.
23 May 23
Norway: Kistos completes Mime Petroleum acquisition
Kistos has announced the completion of the acquisition of all of the outstanding shares of Mime Petroleum. Completion of the acquisition marks Kistos' entry into the Norwegian Continental Shelf and adds 24 MMboe of 2P reserves plus 30 MMboe of 2C resources, increasing total Group reserves plus resources to approx. 80 MMboe.
23 May 23
Kenya: Tullow Oil provides Kenya update
Tullow Oil has been informed by its two minority partners of their intention to issue notices of withdrawal from Blocks 10BB, 13T and 10BA in the South Lokichar Basin for differing internal strategic reasons. As a result, Tullow's working interest in these blocks will increase from 50% to 100%. Tullow remains focused on securing a strategic partnership this year.
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