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(Oil Price) – Azule Energy, a joint venture of international majors BP and Eni, has discovered a major naturalgas reservoir offshore Angola in the first gas-targeting explorationwell in the oil-producing country.
Drilling at the Prospect I location has been significantly derisked by the results of our first Damara Fold Belt well, Naingopo, which encountered reservoir in the Otavi carbonates, hydrocarbon shows and oil to surface. NSAI), an independent qualified reserves evaluator. Prospect I is noted as location 63 in the NSAI report.
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. The well had a water depth of 345 meters, Equinor said. Drivis Tubaen is the 14th explorationwell drilled in production license 532, awarded 2009, according to Equinor.
million barrels of oil equivalent. This is the third explorationwell in production license 891, awarded in the Awards in Predefined Areas (APA) in 2016, the Directorate said in its notice. million barrels of oil equivalent) in Triassic reservoir rocks. million standard cubic meters of oil equivalent (approximately 30.8
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. To contact the author, email rocky.teodoro@rigzone.com WHAT DO YOU THINK?
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. DNO noted that it has four development wells and one explorationwell planned in the period through 2026.
Prospect I is located onshore Namibia in Petroleum Exploration Licence 073 (“PEL73”) and is the Company’s largest prospect to be drilled so far. It is targeting 365 million barrels ofunrisked and 32 million barrels of risked prospective light/medium oil resources (1) , or 1.9
Libyas NOC is working with IOCs Repsol, bp, TotalEnergies, ConocoPhillips and more to increase output to two million barrels per day (bpd). While major gas deposits were found in the Outeniqua Basin in 2019 and 2020, operational challenges have impacted development. Algerias Sonatrach will increase hydrocarbon production by 2.5%
million acres in Namibia in the highly prospective Damara Fold Belt and Rift Basin exploration plays. It is targeting 365 million barrels of unrisked and 32 million barrels of risked prospective light/medium oil resources (1) , or 1.9 million acres in Angola to the existing 6.3
Below, we break down Q1 2025 reports from Equinor , BP , Hess , and Northern Oil and Gas (NOG) , with a side-by-side comparison of production and net income, and a clear snapshot of how they stacked up against Q1 2024. In the first quarter of 2025, BP reported liquids production of 1,086 thousand barrels per day (mb/d), a 2.8%
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