Exploration ///

Saipem awarded onshore drilling contracts worth $240 million

Saipem has been awarded new contracts and the extension of pre-existing agreements in the onshore drilling sector in Saudi Arabia, Morocco, Bolivia and Argentina for a total value of $240 million.

SOCO reports approval of Te Giac Trang field development plan in Vietnam

SOCO, an international oil and gas E&P company, announces that the Hoang Long Joint Operating Company has received from the Government of the Socialist Republic of Vietnam the formal approval of the updated Full Field Development Plan (FFDP) for the Te Giac Trang (TGT) field, offshore southern Vietnam.

CGG completes industry-first AGG survey for Bahrain Petroleum Company

CGG has completed the acquisition and processing of the first-ever airborne gravity gradiometry (AGG) survey of the Kingdom of Bahrain.

Rosneft begins drilling first exploration well at Solimoes project, Brazil

Rosneft Brasil (100% owned Rosneft subsidiary) started the drilling of the first exploration well in the Solimoes basin.

Eni, BP pouring more investment into Egypt than anywhere else

Eni SpA will start producing from the giant Zohr natural gas field off Egypt’s Mediterranean coast by the end of 2017 and plans to invest $10 billion in the North African country over the next five years, CEO Claudio Descalzi said.

What oil crisis? Arctic drilling off Norway set for record

Explorers look set to drill a record number of wells in Norway’s Arctic waters this year, undeterred by oil prices apparently stuck below $60/bbl.

Lukoil reports 0.7 Bboe added in 2016 proved reserves

Based on the geological exploration results and the revision of previous estimates, LUKOIL added 0.7 Bbbl of oil equivalent to its proved reserves in 2016.

Bell Geospace introduces Malaysian multi-client FTG program

The multi-client FTG Program includes airborne 3D Full Tensor Gradiometry (FTG) and magnetic survey data that will be undertaken over offshore Peninsular Malaysia, Sarawak and Sabah.

Petro River Oil identifies significant reserve potential with new 3D seismic data

Petro River Oil, an independent oil and gas exploration company utilizing the latest 3D seismic technology, announced today that recently acquired and reprocessed 3D seismic data has shown positive results in three of the Company’s project areas located in California and Oklahoma.

At $60,000 an acre, Permian may be too ritzy as crude rises

Record prices for drilling rights in the Permian basin, the most fertile U.S. shale field, are prompting oil companies and private equity investors to look elsewhere for the next big gushers.

Lundin Norway granted drilling permit in North Sea

The Norwegian Petroleum Directorate has granted Lundin Norway AS a drilling permit for well 16/1-27, cf. Section 8 of the Resource Management Regulations.

The Getech Group wins OGA 21CXRM contract for UKCS study

Getech, providers of natural resources exploration data and information expertise, has been awarded a contract by the Oil and Gas Authority (OGA), in collaboration with the 21CXRM Technical Advisory Committee, for a petroleum system-related study of the United Kingdom Continental Shelf (UKCS) South West Approaches region.

MOL Group expands its exploration portfolio in Hungary and Norway

MOL Group expanded its exploration portfolio by acquiring new licenses in Hungary and Norway. MOL acquired six new licences in the 4th bid round in Hungary, doubling its exploration acreage in the country. MOL Norge participated in the latest APA licensing round and acquired four licences in the Norwegian Continental Shelf, one of which with operatorship.

Qatar Petroleum hunts for gas abroad as local growth hits limit

Qatar Petroleum is exploring for oil and gas in Cyprus and Morocco as part of a strategy to expand the tiny Gulf emirate’s global energy investments.

GeoPark makes discovery in Llanos 34 Block, Colombia

GeoPark Limited, operator and consolidator with operations and growth platforms in Colombia, Chile, Brazil, Argentina, and Peru, has announced new drilling successes in the Llanos 34 Block (GeoPark operated with a 45% working interest), in Colombia.

Egypt said to seek LNG as BP, Eni gas flow to restore exports

Egypt plans to import as many as 108 cargoes of liquefied natural gas this year as the country prepares to start producing at two gas fields and move closer to its goal of self-sufficiency and even exports by 2019.

Eni's John Agyekum Kufuor FPSO prepares to set sail for Ghana

Eni announces that the naming ceremony of the John Agyekum Kufuor floating production, storage and offloading (FPSO) vessel was held today in Singapore.

With 2019 export goals, exploration in Egypt picks up

Egypt may announce new discoveries of natural gas by the second half of this year, Oil Minister Tarek El Molla said, bringing it closer to its goal of self-sufficiency by 2019.

TAG Oil expands oil and gas operations into Australia

International oil and gas production company TAG Oil Ltd. has announced that the Company’s wholly owned Australian subsidiary, Cypress Petroleum Pty Ltd., has closed the purchase of 100% interest in Petroleum Lease (PL) 17 from privately held Southern Cross Petroleum & Exploration Pty Ltd.

Zion Oil & Gas to aid in supply of Israel's energy needs

Zion Oil & Gas' vision is to help ensure Israel's political and economic independence by finding and producing oil or natural gas onshore in Israel.