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21 Mar 19
Sound Energy announces final results
Sound Energy, the Moroccan focused upstream oil and gas company, has announced its audited final results for the year ended 31 December 2018. The Company has completed the disposal of its Italian interests to focus on its high impact Moroccan assets.
21 Mar 19
Ophir Energy agrees to be bought by Indonesia's Medco in a sweetened bid
London-listed Ophir Energy said on Wednesday it agreed to be bought by Indonesian oil and gas group Medco for a sweetened cash bid of 408.4 million pounds after previously agreeing to a lower offer.
20 Mar 19
Gulf of Mexico Lease Sale 252 yields more than USD244 million in high bids
Gulf of Mexico Lease Sale 252 generated more than USD244 million in high bids for 227 tracts covering 1,261,133 acres in federal waters of the Gulf of Mexico. A total of 30 companies participated in the lease sale.
20 Mar 19
UK: Creative thinking key to UKCS future - Deloitte
Graham Hollis, senior partner for Deloitte’s Aberdeen office, commented on Oil & Gas UK’s flagship report into industry performance, Business Outlook 2019.
20 Mar 19
UK: New reality could unlock £200bn of future business opportunities - Oil & Gas UK
A sustained focus on cost and efficiencies with ongoing uncertainty in commodity markets marks the 'new reality' for the UK’s offshore oil and gas sector, according to Oil & Gas UK’s Business Outlook 2019, a flagship report into industry performance.
20 Mar 19
Mexico: DEA completes acquisition of Sierra Oil & Gas
DEA Deutsche Erdoel has completed the acquisition of 100 percent of the shares of Sierra Oil & Gas. With the deal, DEA enhances its presence in Mexico and its long-term commitment to the country’s oil and gas industry. The deal comprises of six exploration and appraisal blocks in Mexico, including a material stake in the world class Zama discovery.
20 Mar 19
Greenland: Greenland Gas & Oil announces new licence award and operations update
Greenland Gas & Oil has confirmed the award of a new licence and extension of existing licences, as well as provided details of upcoming operational activities on its Jameson Land acreage located onshore south-east Greenland. The Company will commence detailed planning for a drilling programme commencing in the fall of 2020.
20 Mar 19
Sercel extends boundaries of well exploration with SigmaWave - its first DAS seismic solution
Sercel has announced the launch of its first distributed acoustic sensing (DAS) seismic solution: SigmaWave. Designed in partnership with Fotech Solutions, SigmaWave is the first integrated distributed acoustic solution designed exclusively for borehole seismic applications and reinforces Sercel’s advanced range of downhole seismic acquisition systems.
20 Mar 19
Malaysia/Brunei: NW Borneo exploration - in search of new frontiers
Since the start of 2008, 153 exploration wells have been drilled in the SE Asia exploration hot spot of NW Borneo. 3.5bnboe has been discovered in 37 commercial discoveries, 94 percent of which is gas. Westwood has analysed exploration performance in both the Sarawak and Sabah basins and reviewed the potential for new frontier plays that are needed to replace reserves and maintain current levels of production.
20 Mar 19
Nigeria to sell stakes in joint oil assets to boost coffers
Nigeria plans to cut its stake in joint oil ventures with multinational oil companies to 40 percent this year, its budget minister said, as the country seeks to boost revenue to grow an economy recovering from recession.
20 Mar 19
Georgia: Block Energy completes sidetracking operations at West Rustavi field
Block Energy has reported that Total Drilled Depth has been reached at well 16a at its West Rustavi field after the successful completion of horizontal sidetracking operations. The Company is aiming for a gross initial flow rate of 325 bopd at the well.
20 Mar 19
Australia: Indus Energy to proceed with New Era transaction
Indus Energy has entered into a non-binding term sheet to acquire 100 percent of the issued capital of South Australian based private oil and gas Company New Era Oil and Gas. New Era has farm-in rights to several oil and gas permits in the Cooper Basin, South West Queensland, Australia.
20 Mar 19
Colombia: Amerisur Resources exercises right of first refusal to acquire Put-8 interest
Following notification by Vetra Exploracion y Produccion Colombia of the proposed sale of its 50 percent working interest in block Put-8, Amerisur has exercised its right of first refusal to acquire the working interest and will now hold 100 percent working interest and operatorship in Put-8.
20 Mar 19
Norway: Equinor awards contract for subsea production system for Johan Sverdrup phase 2
Equinor has awarded a contract for constructing and installing the subsea production system for Johan Sverdrup phase 2 to TechnipFMC. Production start of phase 2 is scheduled for Q4 2022.
20 Mar 19
Niger: Savannah Petroleum submits R3 East Feasibility Study, SE Niger
Savannah Petroleum has submitted a feasibility study to the Ministry of Energy and Petroleum in Niger in relation to its planned early production scheme and development proposal on the R3 East portion of the R3/R4 Production Sharing Contract area of the Agadem Rift Basin of South East Niger.
20 Mar 19
UK: Union Jack Oil announces Fundraising, Circular and Notice of General Meeting
Union Jack Oil, a UK focused, onshore oil and gas production company, has conditionally raised £1.75 million by way of a placing and subscription. The Fundraising will be used to progress Union Jack's wider activities following the drilling of the West Newton-2 conventional appraisal well, onshore UK.
20 Mar 19
UK oil and gas industry 'needs £200bn of investment' for future development
A total of £200bn needs to be spent by exploration and production companies to fully exploit the UK oil and gas sector's remaining potential, a new report has said. Industry body Oil and Gas UK (OGUK) said its Business Outlook Report 2019 showed the need for a focus on cost and efficiencies was the 'new reality'.
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