Exploration ///

Drilling permit for Norwegian wildcat well granted to OMV Norge

The Norwegian Petroleum Directorate (NPD) has granted OMV (Norge) AS a drilling permit for well 6506/11-10, cf. Section 8 of the Resource Management Regulations.

Statoil plans to step up exploration after driving down costs

Statoil ASA plans to step up drilling in Norway for a second consecutive year, in the first indication it has given of its exploration plans for 2018.

Arctic refuge drilling moves closer to reality with Senate vote

Oil drilling in the Arctic National Wildlife Refuge took a significant step forward Wednesday, as the Senate energy committee approved legislation to compel lease sales in the 1.5-million-acre coastal plain along Alaska’s northeast coast -- tying it to tax reform.

Eni signs E&P sharing agreement for Block 52, offshore Oman

The Government of the Sultanate of Oman, Oman Oil Company Exploration and Production (OOCEP), a subsidiary of state company Oman Oil Company SAOC (OOC), and Eni today entered into an Exploration and Production Sharing Agreement (EPSA) for Block 52, located offshore Oman.

Africa Oil, Eco announce strategic partnership for exploration in West Africa, Guyana

Africa Oil Corp. has announced that it has entered into a strategic partnership with Eco (Atlantic) Oil and Gas Ltd. for exploration in West Africa and Guyana.

Regional Report: India

Emily Querubin, World Oil

India’s growing population, urbanization countering efforts to reduce dependency on imports

As oil prices rise, global majors eye Mexico's deep waters

As the price of oil rises, an international rush is on for Mexico’s untapped deepwater riches.

Eland Oil & Gas provides operational update regarding Nigeria's Opuama field

Eland Oil & Gas PLC, an oil & gas production and development company operating in West Africa with an initial focus on Nigeria, has announced that its joint-venture subsidiary Elcrest Exploration and Production Nigeria Ltd (Elcrest), has successfully handed over the Opuama-7 well to the Opuama field production team and the well is currently flow testing into the production facilities and on to export.

Africa Oil concludes 2017 exploration, appraisal campaign in Kenya

The 2017 exploration and appraisal drilling campaign concluded following the drilling of the Amosing-7 appraisal well. The PR Marriott Rig-46 has been demobilized. Two discoveries were made during the campaign.

Oranto Petroleum to explore South Sudan with BGP

South Sudan’s newest oil and gas entrant Oranto Petroleum has begun its exploration program through an agreement with BGP Inc. South Sudan. The deal comes just eight months after Oranto signed its exploration and production sharing agreement (EPSA) with the government, and kicks off its three-year first exploration commitment period.

President Energy announces significant upgrades to prospective resources in Argentina

President Energy Plc, the upstream oil and gas company is pleased to announce the results of a new integrated basin study and geochemical survey over the exploration assets of the Company centered on its Puesto Guardian Concession, Matorras and Ocultar Licenses, which have resulted in significant upgrades to the Company’s Prospective Resources.

Mexico announces biggest onshore oil discovery in 15 years

Petroleos Mexicanos announced its biggest onshore discovery in 15 years, just three months after Mexico reported the first major find by private companies, bolstering the nation’s efforts to revive its oil industry.

Oil Search acquires $400-million in Alaskan oil assets

Oil Search signed an agreement to acquire a number of oil assets in the Alaska North Slope from privately-owned companies Armstrong Energy LLC and GMT Exploration Company LLC.

Lundin Petroleum granted drilling permit for North Sea appraisal well

The Norwegian Petroleum Directorate has granted Lundin Norway AS a drilling permit for wellbore 7219/12-2 A S, cf. Section 8 of the Resource Management Regulations.

Engie E&P increases resource estimate on Cara discovery

Engie E&P, the operator of the Cara-license (PL 636) in the Norwegian sector of the North Sea, is increasing the resource estimate. Engie E&P now estimates that the Cara discovery contains 56 to 94 MMboe.

Echo Energy announces farm-in agreement in Argentina

Echo Energy plc, the South and Central American focused upstream gas company, is pleased to announce that it has entered into a binding farm-in agreement with Compañía General de Combustibles S.A. (CGC), a privately-owned subsidiary of the Argentinian conglomerate Corporación América International, for the acquisition by Echo of a 50% interest in each of the Fracción C, Fracción D, Laguna de los Capones and Tapi Aike licences, onshore Argentina.

Africa's oil industry needs to harness innovation, technology, PwC says

The oil and gas industry in Africa continues to face market challenges arising from the low oil price, competition for revenue growth and local talent together with new expectations from investors and regulators.

Africa unites to garner investment at Africa Oil Week in Cape Town

The African oil industry met this week to discuss the potential, but also the challenges, that the industry faces as the continent moves towards the commercialization of its huge gas and oil reserves.

Oil & Gas UK welcomes multi-billion-dollar North Sea deals

Commenting on two major North Sea deals completed within the past 24 hours, Deirdre Michie, chief executive at the industry trade association Oil & Gas UK, said the deals are "hugely significant."

Qatar Petroleum part of winning consortium for oil exploration offshore Brazil

A consortium comprising Qatar Petroleum, Shell, and China National Offshore Oil Corporation (CNOOC) was selected as the winning bidder for the Alto de Cabo Frio-Oeste block in the prolific Santos hydrocarbon basin offshore Brazil.