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29 Jun 20
Energean announces Edison E&P transaction update and revised combined group guidance
Energean entered into a conditional sale and purchase agreement to acquire Edison E&P from Edison S.p.A. for $750 million on the 4 July 2019. Since then, both parties have agreed several amendments to the deal, including the addition of interests in two recent, material gas discoveries in the UK North Sea.
29 Jun 20
bp agrees to sell its petrochemicals business to INEOS
bp has agreed to sell its global petrochemicals business to INEOS for a total consideration of $5 billion, subject to customary adjustments. The agreed sale, the next strategic step in reinventing bp, will further strengthen bp’s balance sheet and delivers its target for agreed divestments a year earlier than originally scheduled.
29 Jun 20
Seabird awarded source contract in the North Sea
Seabird Exploration has been awarded an OBN source contract in the North Sea with mobilization in July. It is a short duration contract where the Company will use the Eagle Explorer. The Company has also announced that, as part of the asset-light strategy and renewal process, it has has decided to sell the Harrier Explorer for recycling.
29 Jun 20
Canadian Overseas Petroleum announces GBP500,000 share placing
Canadian Overseas Petroleum has entered into an agreement for a £500,000 common share placing. The funds will cover general working capital and enable the Company to continue focusing on its Nigerian OPL 226 project.
29 Jun 20
Georgia: OMV Petrom awarded oil and gas exploration block in the Black Sea, offshore Georgia
OMV Petrom has been selected as the winner of the open international tender held by the Ministry of Economy and Sustainable Development of Georgia for the Offshore Block II.
29 Jun 20
Japan: JAPEX commences commercial production from shallow reservoir at the Yufutsu oil and gas field in Hokkaido
Japan Petroleum Exploration (JAPEX) has announced that the production of heavy crude oil has commenced from the Takinoue Formation ('the shallow reservoir'), which is located above the current producing reservoirs of the Yufutsu oil and gas field at Tomakomai City, Hokkaido.
29 Jun 20
Baron Oil provides operations update ahead of AGM
Baron Oil, the AIM-quoted oil and gas exploration and production company focused on opportunities in SE Asia, Latin America and the UK, has released an operations update ahead of its Annual General Meeting.
29 Jun 20
Morocco: Sound Energy signs LNG heads of terms with leading Moroccan energy group
Sound Energy has provided an update in relation to the Company's micro liquified natural gas ('mLNG') phase 1 development plan for the TE-5 Horst development at the Tendrara Production Concession, onshore Morocco.
29 Jun 20
Argentina: Echo Energy announces Argentina commercial update
Echo Energy, the Latin American focused upstream oil and gas company, has provided a commercial update regarding the Company's gas sales from the producing assets at SantaCruz Sur.
29 Jun 20
Indonesia: Jadestone Energy announces acquisition of operated 90 percent interest in Lemang PSC
Jadestone Energy has executed an acquisition agreement with Mandala Energy Lemang to acquire an operated 90% interest in the Lemang PSC, onshore Indonesia, for a total initial headline cash consideration of US$12 million.
29 Jun 20
Romania: ADX Energy provides update on well test operations at the Iecea Mica-1 well, onshore Romania
ADX Energy has advised that work over rig mobilisation and set up has been completed at the Iecea Mica-1 (IMIC-1) well site at the Iecea Mare Production License onshore Romania.
28 Jun 20
US: Chesapeake Energy commences voluntary Chapter 11 process
Chesapeake Energy, with a portfolio that includes high-quality unconventional oil and natural gas assets in top U.S. onshore plays, has voluntarily filed for Chapter 11 protection in the U.S. Bankruptcy Court for the Southern District of Texas to facilitate a comprehensive balance sheet restructuring.
28 Jun 20
Norway: Pipeline option far cheaper than LNG alternative for moving Norway’s Arctic gas volumes - Rystad Energy
A Rystad Energy cost analysis of the Norwegian pipeline operator Gassco’s proposed options to export the country’s Arctic natural gas resources, shows that the expansion of Norway’s pipeline infrastructure is a more viable solution compared to boosting the capacity of the existing Hammerfest liquefied natural gas (LNG) plant.
28 Jun 20
Brazil: Total announces production ramp-up on Iara with the start-up of the second FPSO
Total and its partners have announced the start-up of the Floating Production Storage and Offloading (FPSO) P-70 of the Iara cluster (Block BM-S-11A), located in the deepwater Santos Basin pre-salt offshore Brazil. With a productive capacity of 150,000 barrels of oil per day, this new unit will double the overall production capacity of the Iara cluster.
28 Jun 20
Algeria: Total and Sonatrach extend their partnership in Liquefied Natural Gas
Total and Sonatrach have signed an agreement to renew their partnership in the field of liquefied natural gas (LNG). This agreement notably allows to extend the existing supply contracts for 3 additional years in order to provide 2 million tons per year of Algerian LNG to the French market, primarily through the LNG terminal at Fos Cavaou.
28 Jun 20
Brazil: Petrobras releases E&P teaser in the Solimoes Basin
Petrobras has started the opportunity disclosure stage (teaser) for the sale of its stake in a set of seven onshore production concessions located in the Solimoes Basin, in the state of Amazonas.
28 Jun 20
Norway: Almost half of Norwegian petroleum production will soon be run on power from shore - NPD
Today, eight fields on the Norwegian shelf receive power from the Norwegian power grid. Decisions have also been made to supply another eight fields with power in this manner. This means that total CO2 emissions will be about 3.2 million tonnes lower per year than they otherwise would have been.
28 Jun 20
Norway: Repsol Norge given consent for life extension of the Rev field
Norway's Petroleum Safety Authority has given Repsol Norge consent for life extension of the Rev field to 31 December 2023.
28 Jun 20
UK: Environment Agency grants permit for UKOG's Loxley Portland gas appraisal project
UK Oil & Gas (UKOG) has announced that the Environment Agency has issued UKOG with the necessary permit to drill and test the proposed Loxley-1 Portland gas appraisal well in PEDL 234, which is an appraisal of the significant Portland gas accumulation originally discovered and flow tested 8 km to the west by Conoco's 1982 Godley Bridge-1 well.
26 Jun 20
Canada: Multiphase hydrocarbons indicated on first 3D data from Labrador Sea - PGS
The PGS / TGS joint venture’s Torngat survey delivers the first full integrity 3D seismic data for offshore Labrador. Final results are now available for assessments ahead of the 2021 Call for Bids. The Torngat survey, acquired over Chidley Basin in 2019, utilizes GeoStreamer technology to image listric fault systems. Stable AVO responses are consistent with the presence of multiphase hydrocarbons.
26 Jun 20
Lansdowne Oil & Gas announces results for the year ended 31 December 2019
Lansdowne Oil & Gas has announced its audited results, for the year ended 31 December 2019. The Company, along with operator Providence Resources, is conducting a new farmout process with regard to its Barryroe (SEL 1/11) licence in the North Celtic Sea Basin, offshore Ireland.
26 Jun 20
US: Interior supports responsible development of America’s energy resources in Alaska
Trump administration plans to open up 18.6 million acres of the National Petroleum Reserve in Alaska to oil and gas leasing, which would increase the current area by about 7 million acres.
26 Jun 20
Brazil: Petrobras starts production at Atapu pre-salt field offshore Brazil
Petrobras has started the production of oil and natural gas from the Atapu pre-salt field in the eastern portion of the Santos Basin pre-salt, near the Buzios field.
26 Jun 20
Kenya: Pancontinental and FAR to relinquish Kenya Block L6
Pancontinental Oil & Gas and FAR have settled a dispute over payments related to Block L6 offshore and onshore Kenya and have agreed to start the process of relinquishing the Block.
25 Jun 20
Vietnam: Vestas continues to expand its footprint in Vietnam with 48 MW project win
Vestas has secured a 48 MW order with Vietnamese developer, Phong Lieu Wind Power JSC for a wind project located in the Quang Tri Province of Vietnam. This win marks Vestas’ eighth wind project in the province, bringing its footprint in this area to over 300 MW and to a total of almost 700 MW in the country.
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