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Equinor, whose Johan Castberg field has recently reached peak production, has struck oil in explorationwell Drivis Tubåen, the Norwegian energy major said on Monday. Equinor has made an oil discovery near Johan Castberg, which could boost reserves at the giant field in the Arctic Barents Sea.
(Oil Price) – Azule Energy, a joint venture of international majors BP and Eni, has discovered a major natural gas reservoir offshore Angola in the first gas-targeting explorationwell in the oil-producing country. Adriano Mongini, CEO of Azule Energy, commented: “This is a landmark moment for gas exploration in Angola.
The discovery at the Far South prospect comes as BP announced a few weeks back a strategy reset to shift focus back to growing oil and gas production and investments after a few years of trying to be an integrated energy company with a major presence in renewables.
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 other developers are Eni SpA-backed Var Energi ASA with a 30 percent interest and state-owned Petoro AS with 23.7 The well had a water depth of 345 meters, Equinor said.
The discovery at the Far South prospect comes as BP announced a few weeks back a strategy reset to shift focus back to growing oil and gas production and investments after a few years of trying to be an integrated energy company with a major presence in renewables.
(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. Momentum is already building across Libyas energy industry, with several upstream developments demonstrating the countrys renewed focus growth and investment.
Woodside Energy) in support of the Trion deepwater oil and gas development offshore Mexico. Under the agreement, Expro will provide industry-leading tubular running services (TRS) and cementing services for what will be Mexico’s first deepwater oil production facility – a major milestone in the region’s energy evolution.
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 well, now permanently plugged, was drilled by the Deepsea Yantai rig.
Image by Philipp Pelka via iStock DNO ASA said it has completed its acquisition of Sval Energi Group AS from HitecVision for cash consideration of $450 million based on an enterprise value of $1.6 Sval Energi CEO Halvor Engebretsen will lead the enlarged North Sea business as the managing director for DNO Norge AS, according to the release.
Image by EyeEm Mobile GmbH via iStock Gran Tierra Energy Inc. said its subsidiary has signed an agreement to sell its wholly owned subsidiary Gran Tierra North Sea Limited (GTNSL) to private upstream company NEO Energy for $7.5 Image by EyeEm Mobile GmbH via iStock Gran Tierra Energy Inc.
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.
(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.
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%
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.
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?
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. "Our By John Lee.
(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. View original content to download multimedia: [link]
Omans Ministry of Energy and Minerals has signed an Exploration and Production Sharing Agreement (EPSA) with OQ Exploration and Production (OQEP) and Genel Energy to develop Concession Block 54 in Oman. Both companies have formalized a Joint Operating Agreement (JOA) to streamline operations within Block-54.
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.
Image by Leonid Andronov via iStock Malaysia’s national oil and gas company has expanded its footprint in Suriname with the signing of a production sharing contract (PSC) for a deepwater block next to several discoveries. Petronas plans to start gas production 2031 if Sloanea 2 proves to be a commercial success. square miles).
Genel Energy has announced its audited results for the year ended 31 December 2024. Results summary ($ million unless stated) 2024 2023 Average Brent oil price ($/bbl) 81 82 Average realised price per barrel 35 47 Production (bopd, working interest) 19,650 12,410 Revenue 74.7 Production costs (17.6) (18.0) EBITDAX1 1.1
In a statement , the company said that it drilled the explorationwell in Green Canyon Block 584, located in western Green Canyon, about 120 miles off the coast of Louisiana, in water depths of 4,092. Both the initial well and a subsequent sidetrack encountered oil in high-quality Miocene reservoirs. .
BP Targets 400,000 boe/d in Gulf with New Discovery BP has made a new oil discovery in the deepwater Gulf of America, signaling a renewed commitment to traditional energy resources as the company continues a high-profile strategic reset. The well was drilled in 4,092 feet of water to a total depth of 23,830 feet. 2 billion annually.
Three key themes emerged from the update: major exploration success in the Gulf of Mexico, oil price commentary, and a demonstration of financial resilience. A key advantage: many of these discoveries are located near existing infrastructure, allowing BP to tie back new wells quickly and cost-effectively. billion (up from $1.2
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. Empire Wind in the U.S.).
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