Ophir Energy plc announced on the 14th May that it has entered into a farm-out agreement with Kosmos Energy for the EG-24 exploration license in Equatorial Guinea. Under the terms of the agreement, Kosmos will acquire a 40 percent non-operated interest in Block EG-24. In consideration Kosmos…
Total and Shell revealed on the 13th May that they have both signed energy development agreements with the government of Oman. As part of the deals, the companies will develop several natural gas discoveries in the Greater Barik area onshore Block 6, with the…
On the 14th May the Abu Dhabi National Oil Company (ADNOC) unveiled plans to invest US $45 billion alongside partners, over the next five years, to become a leading global downstream player. The plans were unveiled at the ADNOC Downstream Investment Forum, which took…
A court on the Dutch island of Curaçao has authorised the local subsidiary of US oil giant ConocoPhillips to seize US$636 million worth of assets held on the island by Venezuela’s state oil company, PDVSA. The move comes as Houston-based Conoco seeks to recover…
Aker BP has approval from the Norwegian Petroleum Safety Authority (PSA) to drill the Gekko prospect in the North Sea. The semi-submersible Deepsea Stavanger will soon spud well 25/4-12 S and A in block 25/4 close to the Alvheim field. Water depth at the…
The laying of the cable for the supply of the Johan Sverdrup field with power from shore started last week. This will help make the North Sea giant one of the oil and gas fields with the lowest CO2 emissions worldwide, Statoil said on the…
Reuters has reported ”Conoco moves to sell North Sea oilfields,” citing unnamed industry and banking sources, who reportedly said that Conoco was looking to focus on its shale operations in the US. Writing about the Conoco North Sea portfolio, the news agency mentioned the…
Oil Shippers Face Insurance Uncertainty with Return of US Sanctions on Iran Oil tanker owners are facing a nervous wait to find out whether they can carry on doing business with Iran after President Trump said on the 8th May he was reinstating a raft…
Standard Syndicate taps London Market for head of claims Charles Taylor-managed Standard Syndicate 1884 has appointed London Market expert Paul Crockford to the role of head of claims. Standard Syndicate focuses on providing a broad range of marine and non-marine insurance covers to the…
Another darling of the Trump administration is poised to gain from the Iran deal break-up as oil surges: natural gas exports. With the move to curb Iran’s oil output encouraging more shale drilling, prices for natural gas produced alongside crude in West Texas could…
