News

  • UK Offshore Round Generates Considerable Interest

    The UK’s latest offshore licensing round generated “considerable interest”, according to the UK’s Oil & Gas Authority (OGA).   The 32nd offshore licensing round attracted 104 applications covering 245 blocks or part-blocks across the main producing areas of the UK Continental Shelf (UKCS), the OGA…

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  • Africa, Brazil leading offshore upstream investment in 2020

    Rystad Energy expects total upstream investments next year to decrease by around 4%, with shale set to experience a steep decline.   Deep-water, however, is set to grow by more than 5%.   Regionally, Africa, Russia, and South America will either experience growth or a…

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  • PGS data supports ongoing Congo Basin licensing

    PGS data from the offshore Congo coastal basin supports the Republic of Congo ‘open door’ policy for exploration and production opportunities.   The Republic of Congo has started an ongoing promotion of all open blocks, including five blocks in the interior Cuvette basin and ten…

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  • Energas to Start Pakistan’s Largest LNG Terminal in 2021

    Pakistan’s Energas plans to start the nation’s largest liquefied natural gas import terminal in 2021 to help meet soaring demand once it gets the green light to build the project.   Energas, a consortium of large domestic users, aims to begin construction of the US$140…

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  • Spirit to take over North Sea discovery after ‘encouraging’ results

    UK-based Spirit Energy will become the operator of a new Southern North Sea discovery after an encouraging exploration campaign.   he Ossian-Darach exploration well encountered hydrocarbons, in licence P2133, and was plugged and abandoned during August 2019.   According to Spirit Energy’s statement on the…

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  • Croatia’s INA reaches FID on Rijeka refinery modernisation

    Croatia’s INA Industrija Nafte DD has taken final investment decision on a more-than US$600-million plan to modernise its 90,000-b/d Rijeka refinery along the northern part of the Adriatic Sea as part of an organizational strategy to boost performance and competitiveness of its Croatian refining business….

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  • Aker BP first ever to use new well stimulation method offshore

    The first successful ‘Single-Trip Multi-Frac’ campaign has been executed on the Valhall field.   This specific method of well stimulation has never been done offshore before.   The method significantly reduces the cost of the well because less time is needed for use of vessels and…

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