Exploration ///

Cue discovers oil onshore Kutai basin, Indonesia

Cue Energy Resources Limited advises that the Naga Selatan-2 well (NS-2) has discovered oil and is currently being suspended to allow for future production testing.

Getting the most from seismic data

Lisa Sanford, Dave Ridyard, ION

A case history offshore Mexico has shown that the key to keeping the exploration prospect pipeline flowing, is to reprocess and re-evaluate old seismic data, allowing geologists to obtain useful information, using a low-risk approach. When high resolution and deep imaging are required, however, new data must be acquired.

Development of gas-tight connection for deepwater drilling and completion operations

Wendell Bassarath, Marta Lafuente, Romain Branly, Vallourec

The petroleum industry’s growing need for gas-tight connections is being driven by complex wells requiring high-pressure completions and fracturing jobs, or managed pressure/underbalanced drilling operations.

Norway declares crisis in oil industry as devaluation continues

With oil dropping below $30/bbl, producers in western Europe’s biggest crude exporting nation are now considerably worse off than they were in the darkest hours of 2008.

Premier Oil discovers oil in Isobel Deep offshore Falkland

Premier Oil's Isobel Deep re-drill (well 14/20-2) has successfully confirmed the oil discovery encountered in the original Isobel Deep well. In addition, the re-drill has discovered new hydrocarbons in additional sandstones, the company said Monday.

Condor Petroleum to acquire Marsa Energy

Condor Petroleum Inc. and Marsa Energy Inc. have announced that they have entered into an agreement that provides for the acquisition of Marsa by Condor, to create a well-capitalized company with significant exploration and development assets.

Untapped Mexican oil fields lure next generation of wildcatters

While more than 180,000 onshore wells are producing oil in Texas, only 8,250 have been drilled by Petroleos Mexicanos across the border in Mexico. Welcome to the land of opportunity.

Lundin drills duster at Ørnen prospect in Barents Sea

Lundin Norway has completed the drilling and evaluation of exploration well 7130/4-1 on the Ørnen prospect. The well is located in PL708, on the eastern parts of the Finnmark Platform in the southern Barents Sea. The well was dry and has been plugged and abandoned.

Kul-Bas exploration and production contract granted a two-year extension

Tethys Petroleum Limited today announced it has been granted a two-year extension to the Kul-Bas exploration and production contract in Kazakhstan.

Rosneft and ONGC confirm successful cooperation for JSC Vankorneft, onshore Russian Federation

Rosneft and ONGC Videsh Ltd. have signed an Agreement of Confirmation of successful completion of the first stage pre-completion actions in relation to the creation of a joint venture in JSC “Vankorneft”.

Gazprom Neft acquires E&P licenses for Yamalo-Nenets Autonomous Okrug

Gazprom Neft has acquired licences for geological prospecting at the Zapadno-Yubileyny Block, in the Nadymsky district of the Yamalo-Nenets Autonomous Okrug, and for E&P within the Zapadno-Yubileynoye field, forming part of the Zapadno-Yubileyny Block.

OMV recieves consent for exploration drilling in the Barents Sea

STAVANGER, Norway -- The Petroleum Safety Authority (PSA) has now granted OMV consent for exploration drilling.

Noreco sells Norwegian petroleum activities

Norwegian Energy Company has announced that its fully owned subsidiary Noreco Norway has entered into a Sale and Purchase Agreement (SPA) with Djerv Energi for the sale of its exploration license interests, organisation and management systems.

Siberian surprise: Russian oil patch just keeps pumping

In the fight for market share among the world’s oil producers this year, Russia wasn’t supposed to be a contender.

Shell bid aims to preserve U.S. drilling rights in Arctic

Royal Dutch Shell Plc is fighting to preserve U.S. drilling rights in Arctic waters three months after halting exploration indefinitely there because it failed to find meaningful oil or natural gas deposits.

Centrica’s exploration costs fall amid oil, gas price slump

Centrica Plc, the biggest energy supplier to U.K. homes, said it expects an annual reduction in costs at its exploration and production business as oil and gas prices slumped.

Statoil seeks new acreage on Norwegian continental shelf

Statoil has delivered its application for the 23rd licensing round on the Norwegian continental shelf to the Norwegian authorities.

East Africa a hotbed for energy investments

East Africa is emerging as a hotbed for energy related investments not only for its robust economic growth, but also for its potential to become one of the largest producers and exporters of oil and natural gas in the world.

Sterling Energy acquires interest in Tullow’s Block C-10 offshore Mauritania

Sterling Energy has completed the sale and purchase agreement between its wholly owned subsidiary, Sterling Energy Mauritania Limited (SEML) and Tullow Mauritania to acquire a 13.5% working interest in the production sharing contract (PSC) for Block C-10, located offshore in the Islamic Republic of Mauritania.

Bankers Petroleum bags Hungarian exploration block

Bankers Petroleum has announced a successful bid, in the third Hungarian bid round, for the Püspökladány Block (Block "P"), within the Pannonian basin, in north eastern Hungary.