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Australia: BP's Closely Watched Ironbark Offshore Well Fails to Deliver

Dec 29, 2020

BP's closely watched Ironbark exploration well offshore W. Australia, which partners had hoped could unearth 15tcf of gas, has not encountered hydrocarbons, not in significant volume anyway.Beach Energy, BP's partner in the project, said Tuesday that the well had been drilled to a total depth of 5,618 meters measured depth (MD), intersecting the primary target of the Mungaroo Formation at 5,275 meters (MD)…

Santos Nabs Exploration Permit Offshore W. Australia

Dec 24, 2020

Australian oil and gas company Santos has been granted an offshore exploration license in Northern Carnarvon Basin, offshore W. Australia.The Exploration Permit WA-546-P was granted by National Offshore Petroleum Titles Administrator (NOPTA) earlier this week…

Eni, PTTEP Grab Hold of Giant Offshore Block in UAE

Dec 22, 2020

Italian oil and gas firm Eni and Thailand’s national oil company PTTEP have been awarded exploration concession for Offshore Block 3 in the United Arab Emirates, with the concession deal signed with ADNOC on Monday.Eni is the operator with a 70% stake in the Exploration Offshore Block 3…

PXP Energy, CNOOC in Talks on S. China Sea Work after Exploration Moratorium Lifted

Oct 19, 2020

The Philippines' PXP Energy Corp said it was in ongoing negotiations with China National Offshore Oil Corp (CNOOC) relating to a memorandum of understanding between Manila and Beijing on joint oil and gas development in the South China Sea.In a market disclosure…

'Marine Seismic Survey Disruptor' Gets Industry Funding

Oct 14, 2020

Blue Ocean Seismic Services, a company that describes itself as 'the marine seismic survey disruptor,' has secured a total of £10 million of Series A investment from bp Ventures, Woodside Energy, and Blue Ocean Monitoring.The company will use…

Indonesia to Offer More Flexibility to Oil and Gas Explorers

Aug 03, 2020

Indonesia announced over the weekend that it had made revisions to a 2017 law that will give oil and gas investors more flexibility when choosing their contract options for exploration.The revisions, which came into effect on July 16, allow…

Eni Confirms 'Significant Hydrocarbon Accumulation' Offshore Vietnam

Jul 27, 2020

Italian oil and gas company Eni announces an exploration well has confirmed 'a significant hydrocarbon accumulation' on the Ken Bau discovery offshore Vietnam, further expanding its potential.The exploration well Ken Bau-2X, located in Block 114…

Beach Energy, Bridgeport Energy Get Offshore Exploration Blocks in Victoria, Australia

Jul 13, 2020

Beach Energy and Bridgeport Energy have been awarded permits to explore for gas in Victoria, Australia, state waters near Portland and Port Campbell.'As Victorians turn up their gas heaters during the winter chill, the search for new gas off…

Oil Search to Write Off Some PNG Exploration Assets

Jul 13, 2020

Oil Search Ltd said on Monday it plans to write off around $380 million, mostly on some exploration assets and a gas-to-power project in Papua New Guinea, due to the outlook for oil and gas prices and the shut down of a gold mine.The Papua New…

Total Wins Woodmac's 'Most Admired Explorer' Award

Jul 06, 2020

French major Total has been named the upstream industry’s most-admired explorer, an accolade awarded in conjunction with Wood Mackenzie’s annual Exploration Survey.  Dr. Andrew Latham, Vice President, Global Exploration Research, at Wood Mackenzie…

Woodmac: How has the Price Crash Changed the Upstream Sector?

Jun 25, 2020

According to Wood Mackenzie’s analysis, the oil price crash wiped US$1.6 trillion off the valuation of the global upstream industry.Andrew Pearson, vice president, upstream, said: 'This figure captures the impact of Wood Mackenzie’s downgraded…

National Oil Companies to Cut Over a Quarter of Exploration Budgets

May 20, 2020

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…

Petronas Farms Out Part of Suriname Offshore Block to Exxon

May 19, 2020

Malaysian oil and gas company Petronas has completed the farm-down of a 50% stake in an offshore Suriname block to a subsidiary of ExxonMobil.The offshore block, known as Block 52, is located north of the coast of Paramaribo, Suriname’s capital city…

New Offshore Acreage Licensing to Drop 60% in 2020, Rystad says

Apr 15, 2020

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…

OMV Strikes Oil and Gas Offshore New Zealand

Apr 14, 2020

Austrian energy firm OMV has said it has struck oil and gas in the Taranaki Basin offshore New Zealand.  OMV, as the operator of the Petroleum Exploration Permit (PEP) 60093, started drilling at the Toutoiwai-1 well in early March 2020.The oil…

Current News

Israel and Four Arab States Discuss Energy Sector

Israel and Four Arab States Discuss Energy Sector

Ex-Petrofac Exec Pleads Guilty to Bribery Offenses

Ex-Petrofac Exec Pleads Guilty to Bribery Offenses

U.S. Blacklists China's CNOOC over South China Sea Actions

U.S. Blacklists China's CNOOC over South China Sea Actions

MOL, Bombora Targeting Wave Energy Opportunities in Japan

MOL, Bombora Targeting Wave Energy Opportunities in Japan

Energean Sanctions Karish North Gas Field Project. Gets $700M Loan

Energean Sanctions Karish North Gas Field Project. Gets $700M Loan

China's 2020 Crude Oil Imports Hit Record

China's 2020 Crude Oil Imports Hit Record

Malaysia: Shell, Dayang Pen Accommodation Workboat Deal

Malaysia: Shell, Dayang Pen Accommodation Workboat Deal

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