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Energean signs lease agreement for Aitoloakarnania block, onshore western Greece

Energean Oil & Gas has announced that it has signed a lease agreement with the Greek government for the exploration and exploitation of hydrocarbons at the Aitoloakarnania block, onshore western Greece.

Faroe Petroleum reports drilling of Brasse appraisal well in Norwegian North Sea

Faroe Petroleum, the independent oil and gas company focusing principally on exploration, appraisal and production opportunities in Norway, the UK and Atlantic Margin, is pleased to announce the commencement of the Faroe-operated Brasse appraisal well 31/7-2S in the Norwegian North Sea (Faroe 50%).

Billionaire Ratcliffe hunts oil to repeat chemicals empire

Billionaire Jim Ratcliffe is seeking to replicate in oil what he did two decades ago to make Ineos AG into one of the world’s five biggest chemicals producers.

DONG Energy divests upstream business to INEOS

DONG Energy has today agreed to divest the entire share capital of DONG E&P A/S to INEOS for an unconditional payment of DKK 7.0 billion on a cash and debt free basis, a contingent payment of $150 million (DKK 1.0 billion) related to the Fredericia stabilization plant and a contingent payment of up to $100 million (DKK 0.7 billion) subject to the development of Rosebank field.

Statoil to start producing from Norway's Gina Krog field

The Norwegian Petroleum Directorate has granted consent for start-up of production from the Gina Krog field in the North Sea, and the operator—Statoil—is planning start-up in late June 2017.

Abrado Wellbore Services expands into North Sea, UK market

Abrado announced today that it has opened new operations in Aberdeen, Scotland to expand its global presence. The new office, located at Stacey Oilfield Services Ltd. 5 Badentoy Cres. Portlehen, Aberdeen will be composed of sales and engineering resources, with downhole video and proprietary Medusa cutting technology equipment to support a growing customer base.

FrontRow Energy acquires ClearWELL Oilfield Solutions

FrontRow Energy Technology Group Limited has announced the acquisition of ClearWELL Oilfield Solutions, an oil and gas technology company focused on flow assurance and production optimization.

NPD awards framework agreements to 11 supplier firms

To ensure sufficient capacity to be an even better champion for developing new fields and improving recovery from producing fields, the Norwegian Petroleum Directorate (NPD) has awarded framework agreements to 11 supplier firms, representing various technology areas.

Traders brace for first winter without UK's big gas store

For the first time in more than three decades, natural gas traders, utilities and producers are preparing for a winter without the UK’s biggest storage facility.

Maersk Drilling's idle rigs impact earnings, but uptime, performance remain high

Maersk Drilling reported a profit of $48 million in the company's interim report for first quarter 2017, down from $222 million last year, generating a ROIC of 3.0%, compared to 11.2% a year ago.

Institute of Petroleum Engineering receives major applied geoscience research funding

A major funding package for the Institute of Petroleum Engineering (IPE) at Heriot-Watt University will directly support research and training for the future of the industry in UK offshore waters.

Maersk Supply Service secures major contract for Culzean Project, UK

Maersk Supply Service has secured a major contract with Maersk Oil UK to project manage the complete towing, mooring installation and hook up service scopes for the Culzean Project in the North Sea.

Wärtsilä acquires Greensmith Energy Managment Systems

The technology group Wärtsilä has signed an agreement to acquire Greensmith Energy Management Systems Inc., a U.S.-based leader in intelligent energy storage technology and solutions, for an undisclosed amount.

Atlantic Petroleum completes sale of 25% interest in Orlando development

Atlantic Petroleum has announced that further to announcement No. 4, issued March 14, 2017, it has completed the Sale and Purchase Agreement with Decipher Energy for its 25% interest in the Orlando development.

Parkmead doubles stake in key North Sea gas area

Parkmead, the UK and Netherlands focused independent oil and gas group, has announced that it has signed a Sale and Purchase Agreement with Verus Petroleum (SNS) Limited to acquire a 50% interest in UK North Sea Licence P.2209, which contains the Farne Extension prospect and a further four prospective leads.

ENGIE enters negotiations for sale of its 70% interest in Exploration & Production International

ENGIE has announced that it has received a firm and binding offer from Neptune Energy to acquire its 70% interest in Exploration & Production International (EPI).

Repsol Norge drills dry well west of Aasta Hansteen field

Repsol Norge AS, operator of production licence 705, has completed the drilling of wildcat well 6705/7-1.

Goldman bets Europe's oil stocks will shine as crude remains cloudy

European oil producers’ lower capital spending will help the region’s least-loved stocks to a standout performance this year, supported by the best quarterly cash generation in six years, according to Goldman Sachs Group Inc.

Proserv Norway secures significant decommissioning project awards

Energy services company Proserv has recently been awarded three contracts worth a combined value of more than $2.5 million for decommissioning work in the Norwegian North Sea.

Tiger Offshore expands Mediterranean, North Africa presence with CCU fleet acquisition

Tiger Offshore Rentals, a global provider of transportation and storage equipment to the offshore oil and gas industry, has acquired Comea Imprianti Industriali’s entire fleet of DNV-certified offshore cargo carrying units (CCUs) in Italy.