04 Dec 20Norway: Equinor drills dry well in the southwestern Barents Sea - 7018/5-1
Equinor, operator of production licence PL 960, has concluded the drilling of wildcat well 7018/5-1. The well, which was drilled about 100 kms southwest of the Snøhvit field, will be plugged and abandoned as a dry hole.
04 Dec 20UK: Equinor continues to capture value from offshore wind, selling 10 percent in Dogger Bank A and B
Equinor has entered into an agreement with Eni to sell a 10% equity interest in the Dogger Bank Wind Farm A and B assets in the UK for a total consideration of around GBP 202.5 million. Eni has also entered into an agreement to purchase a 10% interest in Dogger Bank A and B from project partner SSE on the same terms.
04 Dec 20Denmark to end oil and gas exploration in North Sea in 2050
Denmark’s government has agreed with a majority in parliament to put and end to all oil and gas exploration and extraction in the North Sea by 2050 as well as cancel its latest licensing round.
04 Dec 20UK: United Oil and Gas provides update on Crown disposal milestone payment
AIM-listed United Oil & Gas has provided an update on the milestone payment from Hibiscus Petroleum Berhad's indirect wholly-owned subsidiary, Anasuria Hibiscus for the purchase of Licence P2366, Blocks 15/18d and 15/19b, which include the Crown discovery.
04 Dec 20Jadestone Energy announces trading and operations update
AIM-listed Jadestone Energy, an independent oil and gas production company focused on the Asia Pacific region, has provided a trading and operations update.
04 Dec 20US: 88 Energy announces execution of the Project Peregrine farmout
88 Energy has executed definitive documents with Alaska Peregrine Development Company ('APDC') in relation to the farmout of its 100% owned Project Peregrine, located in the NPR-A region of the North Slope of Alaska.
04 Dec 20Australia: Strike Energy announces West Erregulla update
Strike Energy has provided an update on behalf of the EP469 Joint Venture. Up to three appraisal wells will be drilled in the West Erregulla field and Strike is currently drilling the West Erregulla 3 appraisal well.
04 Dec 20Norway: MOL Norge granted drilling permit for 2/9-6 S in PL 617
The Norwegian Petroleum Directorate has granted MOL Norge a drilling permit for wildcat well 2/9-6 S in production licence PL 617. The well will be drilled about 31 kms east of the Valhall field.
04 Dec 20Oilfield service purchases set to lose USD340 billion until 2028 as peak oil is closer than ever - Rystad Energy
The oilfield service (OFS) market is projected to lose a cumulative $340 billion in purchases value over the next eight years, a Rystad Energy analysis shows, as peak oil demand will arrive earlier and at a lower level than previously thought, leading to reduced E&P investments.
03 Dec 20GoM: BOEM, BSEE research supports policy changes to increase oil and gas production in the Gulf of Mexico
The Bureau of Ocean Energy Management (BOEM) with support from the Bureau of Safety and Environmental Enforcement (BSEE) published new research on Dec. 3, that indicates certain economic policy changes may help increase oil and natural gas production in the Gulf of Mexico (GOM), using deepwater infrastructure already in place.
03 Dec 20Chevron announces USD 14 billion capital and exploratory budget for 2021
Chevron has announced a 2021 organic capital and exploratory spending program of $14 billion and lowered its longer-term guidance to $14 to $16 billion annually through 2025. This capital outlook will continue to prioritize investments that are expected to grow long-term value and deliver higher returns and lower carbon, including over $300 million in 2021 for investments to advance the energy transition.
03 Dec 20Norway: ConocoPhillips starts production from Tor II
ConocoPhillips and its partners in the Tor Unit have started production from Tor II, a redevelopment of the Tor field, which was on production from 1978 through 2015. It is the first redevelopment of a shut-in field on the Norwegian Continental Shelf, and start-up is only 12 months after approval of the PDO by the Norwegian authorities.
03 Dec 20UK: OGA launches study of potential energy hub site
The Oil and Gas Authority (OGA) has started work to identify the value the establishment of an energy hub on the Norfolk coast could lead to by hiring specialist project development company Progressive Energy to conduct an in-depth feasibility study.