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(World Oil) – The American international oil and gas company Hess (Suriname II) Exploration Limited (Hess) will relinquish Block 59 in offshore Suriname on 8 July 2025. Hess fulfilled its minimum work obligations and has decided not to move forward to the next phase of the exploration period, which concludes on 8 July 2025.
“The Johan Castberg volume base originally estimated at 450-650 million barrels, our clear ambition is to increase the reserves by another 250-550 million barrels”, said Grete Birgitte Haaland, Equinor senior vice president for exploration and production North. The well had a water depth of 345 meters, Equinor said.
(World Oil) – Libyas oil and gas sector is set for a new era of growth and investment following the announcement of its first exploration bid round in 17 years. This increase in production from existing fields underscores the countrys commitment to stabilizing and expanding its energy supply.
Image by Ole Arnesen via iStock The Norwegian Offshore Directorate said ConocoPhillips Skandinavia AS, operator of production license 891, had confirmed the Slagugle oil discovery. The second appraisal well, 6507/5-12 S, was drilled about 22 kilometers (13.7 The second appraisal well, 6507/5-12 S, was drilled about 22 kilometers (13.7
Boosting production Major oil producers in Africa are striving to boost production and NOC-IOC collaboration is at the forefront. Algerias Sonatrach will increase hydrocarbon production by 2.5% Algerias Sonatrach will increase hydrocarbon production by 2.5%
bp drilled the explorationwell in Green Canyon Block 584, located in western Green Canyon approximately 120 miles off the coast of Louisiana in 4,092 feet of water. The well was drilled to a total depth of 23,830 feet. bp expects to grow its global upstream production to 2.3 Vertical composition with copy space above.
The well was drilled to delineate the discovery confirmed in well 6507/5-10 S (Slagugle) and to perform a formation test to gain a deeper understanding of the reservoir properties and connectivity within the hydrocarbon-bearing layers. After the completion of operations, the well was permanently plugged and abandoned.
(Oil & Gas 360) –April 17, 2025, Calgary, Alberta, Canada Reconnaissance Energy Africa Ltd. ReconAfrica has entered into a Memorandum of Understanding (MOU) with ANPG for a joint exploration project in the Etosha-Okavango basin, located onshore in southeastern Angola. ANPG is Angolas national concessionaire and regulator.
First-Quarter Results Gran Tierra reported first-quarter total average working interest before royalties (WI) production of 46,647 barrels of oil equivalent per day (boepd), 14 percent higher than the previous quarter and 45 percent higher year over year. Image by EyeEm Mobile GmbH via iStock Gran Tierra Energy Inc.
To meet the projects supply and delivery requirements, production will be carried out across Vallourec’s industrial sites in Brazil, China, and Indonesia. This order fully aligns with ADNOC’s ambitious target of reaching 5 million bpd of production by 2027. Already a member?
The acquired portfolio consists of 16 producing fields in Norway, quadrupling DNO’s North Sea production to 80,000 barrels of oil equivalent per day (boepd), the company said in a news release. Its largest assets, measured by net 2P reserves, are Nova, Martin Linge, Kvitebjørn, Eldfisk, Maria, Symra and Ekofisk.
(Oil & Gas 360) CALGARY, AB , April 10, 2025 /CNW/ – Reconnaissance Energy Africa Ltd. Prospect I is located onshore Namibia in Petroleum Exploration Licence 073 (“PEL73”) and is the Company’s largest prospect to be drilled so far.
Genel Energy has issued a trading and operations update relating to Q1 2025. Paul Weir, Chief Executive of Genel, said: " In line with expectations, the Tawke PSC continues to deliver consistent, reliable production and generate significant cash flow even at the discounted domestic sales prices.
decided to discontinue Block 59 exploration after failing to bring in new partners following Equinor ASA and Exxon Mobil Corp. In July 2024 Norway’s majority state-owned Equinor and Texas-based ExxonMobil withdrew from the production sharing contract they signed July 2017 with New York City-based Hess.
BP recently released its first quarter 2025 results, offering insight into how it is navigating a volatile market while steadily executing its growth strategy. Three key themes emerged from the update: major exploration success in the Gulf of Mexico, oil price commentary, and a demonstration of financial resilience.
Brent Crude $78.03 +1.73% Natural Gas $4.04 +1.35% Latest Oil Prices SUBSCRIBE SEARCH ARTICLES NEWS Petronas Gets New Block offshore Suriname by Jov Onsat | Rigzone Staff | Thursday, June 19, 2025 | 7:53 AM EST The new acreage lies next to Petronas' Block 52, which contains the Fusaea, Roystonea and Sloanea discoveries.
The worlds largest energy companies have just released their Q1 2025 results, offering a detailed look at how the sector is holding up amid fluctuating commodity prices, ongoing supply chain pressures, and the growing influence of gas and LNG markets. TWh , the same as Q1 2024. TWh , the same as Q1 2024. TWh , the same as Q1 2024.
42.5%), drilled the Far South explorationwell in Green Canyon Block 584, located in the western Gulf of America approximately 120 miles off the coast of Louisiana. The well was drilled in 4,092 feet of water to a total depth of 23,830 feet. per barrel in Q1 2025 versus $13.1 in Q4 2024.
Our shift from cash outflow in 2023 to cash generation in 2024 has been important, and in 2025 we expect the cash generated by the Tawke PSC to continue to cover our costs. Production costs (17.6) (18.0) Production costs (17.6) (18.0) Production costs (17.6) (18.0) This is the first step on our roadmap to diversification.
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