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Oil majors compete for Libya’s first exploration tender since 2011 war

Oil & Gas 360º

Authorities target daily oil output of 2 million barrels before 2030 — surpassing the 1.75 million-barrel peak reached during strongman Muammar Qaddafi’s reign in 2006. Libya last held a bidding round in 2007, four years before the NATO-backed uprising in which Qaddafi was killed. Libya currently pumps about 1.4 million bpd.

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Whitecap and Veren Finalize $10.4B Merger, Create Top-7 Canadian Oil & Gas Producer

Rextag

paid C$12,016 per hectare for land in the Fort Kent field, the highest price for oil sands land since 2007. billion barrels of NGLs, and 1.13 billion barrels of oil, making it Canada’s top unconventional resource. “The Fort Kent and Elmworth Draw Top Prices Select areas continue to see premium pricing. NuVista Energy Ltd.

Gas 52
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Equinor Hits New Discovery in Johan Castberg

Rigzone

The majority state-owned energy major put preliminary estimates for well 7720/7-DD-1H, or Drivis Tubaen, at 9-15 million barrels of oil. Johan Castberg is the third field developed in the Norwegian Barents Sea after Snohvit, which started production 2007, and Goliat, which went online 2016.

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Chevron, Total Vying in Libya's First Oil Tender Since 2011 War

Rigzone

Authorities target daily oil output of 2 million barrels before 2030 — surpassing the 1.75 million-barrel peak reached during strongman Muammar Qaddafi’s reign in 2006. million barrels a day. Libya last held a bidding round in 2007, four years before the NATO-backed uprising in which Qaddafi was killed.

Oil 83
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Equinor, Shell Unveil Name of UK North Sea JV

Rigzone

Adura, which will be equally owned, combines the two companies’ offshore assets in the UK, where Shell currently produces over 100,000 barrels of oil equivalent a day (boed) and Equinor about 38,000 boed. “Adura is expected to produce over 140,000 barrels of oil equivalent per day in 2025”, Equinor said.

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BOEM proposes oil, gas lease sale for 80 million acres in Gulf

Oil & Gas 360º

BOEM estimates the broader Gulf outer continental shelf holds about 48 billion barrels of undiscovered oil and 141 Tcf of natural gas. To encourage industry interest, the agency is proposing a 16 ⅔ percent royalty rate for both shallow- and deepwater tracts, the lowest deepwater rate since 2007. “To

Oil 162
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Libya’s first oil bid round in 18 years offers production sharing contracts

Oil & Gas 360º

The previous such bid round was held in 2007, four years before the toppling of Muammar Ghaddafi in 2011, which led to a protracted civil war in the country with various factions and tribal interests vying for control of key institutions and major oilfields. million barrels per day (bpd), NOC says.