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06 Mar 23
Namibia: Woodside enters option agreement on PEL 87 in the Orange Basin offshore Namibia
Sintana Energy has announced that Woodside has entered into an agreement whereby it has the option to acquire a 56% Participating Interest in Petroleum Exploration License 87 ('PEL 87'), in consideration for, among other things, paying the full cost for a 3D-seismic survey covering an area of at least 5,000 sq kms at an estimated cost of US$35 million.
05 Mar 23
Brazil: Petrobras to suspend sales of assets for 90 days
Petrobras ihas received an Official Letter from the Ministry of Mines and Energy (MME) requesting the suspension of the sales of assets for 90 days due to the reassessment of the National Energy Policy currently underway and the establishment of a new composition of the National Energy Policy Council (CNPE).
05 Mar 23
UK: TWMA secures seven-figure contract with a major North Sea oil and gas operator
Specialist drilling waste management company, TWMA, has secured a seven-figure contract with a major North Sea oil and gas operator. The award will see TWMA deploy its RotoMill technology on a harsh environment semi-submersible unit in the Central North Sea.
05 Mar 23
Russia: Shell completes withdrawal from its interest in Salym Petroleum Development in Russia
Shell Salym Development – a subsidiary of Shell – has completed the withdrawal from its 50 per cent interest in the Salym project, which had been jointly developed with Gazprom Neft, a subsidiary of Gazprom.
05 Mar 23
TGS and NRGX Technologies announce strategic partnership expansion
TGS, in partnership with NRGX, are expanding their partnership to enable access to TGS well log data simultaneously with client proprietary data. Customers can quickly identify and access all available log data through the NRGX well log data workflow optimization system.
05 Mar 23
UK: Official stats confirm risks of shutting down Scottish oil and gas industry - OEUK
Official analysis reveals accelerating the decline of Scotland’s oil and gas production will increase Scotland’s emissions, threaten jobs and ultimately could make Scotland poorer.
05 Mar 23
Brazil: DOF Subsea awarded contracts offshore Brazil
DOF Subsea has exercised an option for the diving support vessel Skandi Achiever, including ROV and diving services. In addition, to the newly announced contract on the RSV vessel Geoholm, DOF has just signed another contract to perform survey services for the same period. The contracts have a combined value in excess of USD 35 million for the firm period.
03 Mar 23
Colombia: Arrow Exploration announces RCE-3 well update
Arrow Exploration has provided an update on the Rio Cravo Este-3 well ('RCE-3'), an appraisal / development well on the Tapir Block in the Llanos Basin of Colombia.
03 Mar 23
Norway: Longboat Energy provides update on PL 939 licence - Egyptian Vulture
Longboat Energy has provided an update on the status of the PL 939 licence which contains the Egyptian Vulture oil discovery. Following relinquishment, Longboat is looking to form a new group to take the asset forward and will seek to re-apply for the acreage in the forthcoming licence round with awards due in January 2024.
03 Mar 23
Namibia: PGS awarded 3D contract offshore Namibia
PGS has signed a 3D exploration acquisition contract for work offshore Namibia. Ramform Titan is mobilizing for the survey and acquisition is expected to complete in late May 2023.
03 Mar 23
UK: Equinor acquires Suncor Energy UK
Equinor UK has signed an agreement to acquire Suncor Energy UK for a total consideration of USD 850 million. The transaction includes a non-operated interest in the producing Buzzard oil field (29.89%) and an additional operated interest in the Rosebank development (40%).
02 Mar 23
UK: RWE acquires JBM Solar and becomes a top 3 solar developer in the United Kingdom
RWE, the UK’s largest power generator and one of the largest renewables developers, has significantly expanded its solar and battery capabilities by acquiring JBM Solar, a large independent developer of solar and battery storage systems. With this acquisition RWE reaffirms its UK strategy by continuing to grow and to diversify its UK portfolio by adding further solar and battery projects.
02 Mar 23
UK: Archer's acquisition of Baker Hughes' Coil Tubing and Pumping business in the UK is approved by the UK CMA
Archer has announced that the UK Competition and Markets Authority ('CMA') has approved the acquisition of Baker Hughes' Coil Tubing and Pumping business in the UK.
02 Mar 23
UAE: ADNOC Drilling awards newbuild contract for ten hybrid power land rigs
ADNOC Drilling has signed an agreement to purchase ten newbuild hybrid power land drilling rigs for a total of $252 million. The use of hybrid power solutions is an essential element of ADNOC Drilling’s rigorous decarbonization strategy as the Company contributes to ADNOC’s commitment to reduce greenhouse gas intensity by 25% by 2030.
02 Mar 23
UK: INPEX acquires shares in UK offshore wind power generation company
INPEX has acquired a 16.7 percent stake in the Moray East Offshore Wind Farm, which is currently in operation approx. 22 kms off the Moray East coast of Scotland in the United Kingdom.
02 Mar 23
UK: OEUK announces new board appointments as drive for energy security continues
Offshore Energies UK (OEUK), the representative body for the UK’s offshore energy sector, has announced a package of changes to its board this month. Three new board members have been appointed as outgoing members reach the end of their tenure or take up new roles elsewhere.
02 Mar 23
Frontera Energy announces Q4 and Y/E 2022 results
Frontera Energy has reported financial and operational results for the fourth quarter and year ended December 31, 2022. 2022 was a strong financial and operational year for Frontera. The Company increased full year operating EBITDA by 70% to $641.9 million, within the Company's $90-$100/bbl 2022 guidance range.
02 Mar 23
EV sales collapse as subsidies and tax credits come to an abrupt halt - Rystad Energy
The global electric vehicle (EV) market is reeling from one of the most dramatic collapses in monthly sales to date, with Rystad Energy research showing that only 672,000 units were sold in January, almost half of December 2022 sales and a mere 3% year-on-year increase over January 2022. The EV market share among all passenger car sales also tumbled to 14% in January, well down on the 23% seen in December.
02 Mar 23
Norway: Aker BP drills dry well near the Edvard Grieg field in the North Sea
Aker BP, operator of production licence PL 1141, has concluded the drilling of exploration well 16/1-35 S. The well, drilled about 6.5 kms west of the Edvard Grieg field, failed to encounter hydrocarbons and has been permanently plugged and abandoned.
02 Mar 23
Trinidad: Touchstone announces Royston-1X reaches TD
Touchstone Exploration has completed drilling the Royston-1X exploration well and has announced that the well encountered substantial sands in the targeted Herrera Formation. Mud logging and wireline logs indicate hydrocarbon accumulations in the targeted Herrera sections. The well is currently being cased and prepared for production testing.
02 Mar 23
UK: Angus Energy announces Saltfleetby and corporate update
Angus Energy has announced that the drilling of the SF7v sidetrack at the Saltfleetby Field has concluded. The Company is confident from the electric logging, mud logging and gas shows in the reservoir section that the well will be a successful producer.
02 Mar 23
Norway: Var Energi confirms oil discovery near Goliat in the Barents Sea
Vår Energi has confirmed discovery of oil in the operated 7122/8-1S Countach well in production licence PL229 (Goliat). The well was drilled in one of the segments that form the Countach prospect. Preliminary estimates place the size of the discovery in the tested segment between 0,5 – 2,1 million Sm3 (3-13 million bbls) of total recoverable oil equivalents.
02 Mar 23
Tanzania: Aminex provides Ruvuma operations update
Aminex has been informed by ARA Petroleum Tanzania ('APT'), the Operator of the Ruvuma PSA, of a further delay to the spudding of the Chikumbi-1 well ('CH-1'). Plans to accelerate gas production have been further developed with the Tanzanian authorities, now targeting October 2023 for production of first gas.
02 Mar 23
UK: Egdon Resources completes the acquisition of Aurora Production (UK)
Egdon Resources has completed the acquisition of the entire issued share capital of Aurora Production (UK) from Aurora Petroleum. Aurora Production is a private company, which holds an 18.75% interest in the Edgon operated licence PL090 which contains the Waddock Cross oil field and an 8.33% interest in the IGas operated licence PEDL070 which contains the Avington oil field.
02 Mar 23
China: CNOOC Limited announces major oilfield discovery of Bozhong 26-6 in Bohai Bay
CNOOC Limited has discovered Bozhong 26-6 oilfield in the Bohai Sea, with reserves of a hundred million tons. The discovery well BZ26-6-2 produced an average of approx. 2,040 barrels of crude oil and 11.45 million cubic feet of natural gas per day.
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