London AIM-listed oil and gas explorer Empyrean Energy has been given more time to drill a well in its 29/11 offshore block in China.Empyrean said Wednesday that, due to the COVID-19 pandemic and the resultant global control policies, it engaged…
Offshore services provider Oceaneering has been awarded an asset integrity contract from a major operator based in Dubai, UAE. Oceaneering said Wednesday that the 'considerable asset integrity contract' included the provision of general and…
National oil companies (NOCs) globally are estimated to cut exploration budgets by over a quarter on average in 2020, says energy intelligence group Wood Mackenzie.Woodmac said Wednesday its analysis was based on announcements and tracking well plans of 11 top spending NOC explorers…
Newly licensed offshore oil and gas exploration acreage is likely to fall by about 60% and onshore acreage by 30% compared with 2019 levels, Rystad Energy has said, as the Norwegian energy market analytics company expects more than half of the…
Lebanon has postponed the deadline for submissions of applications for its second offshore licensing round once again.Lebanon had in January postponed the deadline from January 31 to April 30 to allow international firms more time to pursue administrative…
Oil and gas project sanctioning in 2020 could drop almost 70% compared to 2019 if the oil prices remain in the $30 a barrel area, Norway-based Rystad Energy said in an analysis on Monday.'The effect of the COVID-19 virus on global demand for oil and gas…
Italian oilfield services firm Saipem has signed a memorandum of understanding with the Saudi construction company Abdel Hadi Abdullah Al Qahtani & Sons Company (AHQ). Saipem said Tuesday that the memorandum set the path to towards the creation of a Joint Venture in Saudi Arabia…
The drill bit still plays a key role across the region, with exploration increasingly the domain of national oil companiesReports of the death of exploration have been greatly exaggerated. Since the 2014 oil price downturn, the industry has re-imagined exploration…
Caspian Sunrise, a Kazakhstan-focused oil and gas explorer, is venturing into offshore oil and gas exploration. The company, which has mostly been focused on onshore activities on Tuesday proposed the acquisition of the Caspian Explorer drilling vessel…
For the first time, China will this year allow foreign companies to explore for and produce oil and gas in the country, opening up the industry to firms other than state-run energy giants, as Beijing looks to boost domestic energy supplies.The…
Italy's Saipem said on Monday it signed a strategic agreement with Daewoo E&C Co. for cooperation in the onshore oil and gas industry, with a specific focus on the liquefied natural gas (LNG) sector.'LNG is strategic for us and we are definitively…
India has received 8 bids for 7 onshore oil and gas exploration blocks under the latest auction, a government statement said.State-run Oil and Natural Gas Corp has submitted bids for all 8 blocks.State-run Oil India has put in a bid for 1 block.(Reporting by Nidhi Verma; editing by David Evans)
Southeast Asian independent oil and gas exploration and production player Interra Resources said has started drilling its first onshore well in the onshore/offshore Kuala Pambuang block, in southern Central Kalimantan, Indonesia, where seismic…
Australian privately-owned oil and gas company Timor Resources said it has commissioned Eastern Drilling to commence drilling operations in the Southeast Asian country of Timor-Leste.One of the world’s last frontiers for oil and gas, Timor-Leste's…
Lower oil prices will push the global oilfield services (OFS) sector into a recession in 2020 after three successive years of growth, according to Rystad Energy.In a new sector outlook update, Audun Martinsen, head of oilfield services research at Rystad Energy…
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