Mediterranean explorer Energean Oil & Gas praised the “untapped potential” of its two blocks offshore Montenegro, which may hold 1.8 TCF of gas and 144 MMboe of liquids (438 MMboe in total), according to a new report by Netherland Sewell & Associates (NSAI)…
Three companies, Eni, Total and Novatek, acting as a consortium have made the only bids in Lebanon's first offshore licensing round. The three companies together bid on Blocks 4 and 9, says the Lebanese Petroleum Administration. Block…
Despite disappointment at Korpfjell, there’s optimism in the far North. The Christophe de Margerie LNG carrier in icy conditions. Photo from Total. High hopes were pinned on the multi-billion-barrel potential Korpfjell prospect…
Lebanon views its potential offshore gas resources as key to meeting its domestic energy demand. However, current conflicts may keep Lebanon’s offshore oil and gas industry off the starting block. Karen Boman reports. Open…
Lebanon has extended the deadline for the results of the second pre-qualification round in the country’s first-ever offshore licensing round, to give companies more time to respond to requests from the Lebanese Petroleum Administration (LPA)…
Italy’s Eni is entering Montenegro’s upstream market by exploring four blocks. Eni signed a concession contract with the government of Montenegro for the exploration of four offshore blocks covering a total area of 1228sq km that were…
Russia’s Novatek and Thailand’s PTT signed a memorandum of understanding (MOU) to cooperate and study potential joint opportunities in the exploration and production of hydrocarbons, the implementation of LNG projects, the supply of LNG and the development of LNG markets…
2015 truly was the year of ups and downs. At the start of the new year the price of oil tumbled to just below the US$50/bbl mark and by 31 December it rested at just under $40, at $37.04/bbl. However, it is not known what true bottom is for the market…
The US Department of Justice (DOJ) has cleared the proposed multi-billion dollar merger between Schlumberger and Cameron International without any conditions, both companies announced in a joint statement on Wednesday (18 November). The…
Schlumberger is at it again with another acquisition, this time of US-based Fluid Inclusion Technologies (FIT), which specializes in laboratory analysis of trapped fluids in rock material, and advanced borehole gas analysis on drilling wells…
International classification society Bureau Veritas announced it will class the series of Arctic-capable LNG carriers that will be built in Korea's DSME yard to service the Yamal LNG project in Russia's high arctic. Exporting LNG from Yamal calls for a type of LNG carrier never built before…
Oil services giant Schlumberger revealed its revenue took a 33% plunge in 3Q 2015 with revenue hitting almost US$8.5 billion for the period, citing a decline in rig activity and pricing pressure as the reasons. The results are causing the…
Oil services giant Schlumberger is pulling the plug on its proposed US$1.7 billion acquisition of Russian drilling contractor Eurasia Drilling Co. (EDC) to focus on other merger and acquisition (M&A) opportunities. The…
China’s Silk Road Fund (SRF) entered into an agreement with Russia’s Novatek to acquire 9.9% equity stake in the Yamal LNG project. Map of Yamal. From Total. Should the deal be approved…
Schlumberger announced its takeover of US-based Novatek Inc. and Novatek IP, LLC. that will provide a new platform to improve drilling performance to the growing oil services giant’s portfolio. Schlumberger's StingBlade…
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