A total of £200 billion needs to be spent by exploration and production companies to exploit the UK oil and gas sector’s remaining potential fully, a new report has said. Industry body Oil and Gas UK (OGUK) said its Business Outlook Report 2019 showed…
Aker BP has confirmed an oil and gas discovery with a gross resource estimate of 60-130 million boe from the Froskelar Main exploration well in licence 869 in the North Sea’s Alvheim area. The nearby 24/9-3 (Gamma) oil discovery can be viewed as being…
A working meeting between Alexey Miller, Chairman of the Management Committee of Gazprom, and Isabelle Kocher, CEO of Engie, took place in St Petersburg on the 15th March. Through their respective representants, Gazprom and Engie discussed current Russian gas supplies to France. By…
Brexit Makes It Harder for Fintech, Financial Services Firms to Recruit Top Talent: Report Leaving the European Union is making it harder for fintech firms in Britain to recruit top talent, a report said on the 19th March, threatening to slam the brakes on a…
The Trump administration has reportedly granted Iraq a further 90-day extension to the waiver exempting it from US sanctions on Iran. CNBC quoted a senior State Department official as saying on condition of anonymity: “While this waiver is intended to help Iraq mitigate energy…
BW Offshore, through its subsidiary BW Energy Gabon, has sold a ten percent interest of the Dussafu licence to the Gabon Oil Company (GOC). BW said on the 19th March that the transaction was subject to the fulfilment of certain conditions, including approval from…
Diamond Offshore’s semi-submersible Ocean GreatWhite has spudded the Blackrock prospect west of Shetland for operator Siccar Point Energy E&P. The rig is also contracted to drill the first well on the Lyon prospect north of Shetland for Siccar Point and INEOS, with the campaign…
Noble Energy has agreed to transfer its operating rights in the 367/Alon D licence offshore Israel to Ithaca Energy. This follows Noble’s recently decision to withdraw from exploration of the licence. Ithaca, which operates the Greater Stella Area hub in the UK North…
The global oil service market will not return to previous highs until 2025. That is according to energy research and business intelligence company Rystad Energy, which forecasts that global service market revenues will match the US$920 billion mark seen in 2014 in around six…
E&P company Spirit Energy has started oil production from the Oda field located in the North Sea, offshore Norway, almost five months earlier than the original plan. Oda was discovered in 2011 and the plan for development and operation (PDO) was approved in May 2017….
