News

  • India’s small-field round nets 145 bids

    India’s second round of bidding on licenses encompassing discovered small fields attracted 145 bids for 24 of the 25 blocks on offer.   Vedanta Ltd submitted the most bids by a single company, 21.   Thirty-nine companies submitted bids, alone or as group members, including…

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  • Oil Finishing Best Month Strongly Since 2015

    Oil headed for its biggest monthly gain since April 2015 as data showed the OPEC+ coalition’s output cuts starting to kick in, while a more dovish Federal Reserve boosted markets and improved the growth outlook.   Futures in New York rose for a third day,…

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  • Glengorm Area Will Likely be an Industry Hotspot

    The Glengorm area will likely be an industry hotspot in the coming years.   That is according to Rystad Energy Principal Simon Sjothun. “Glengorm represents an exciting new chapter for the UKCS which continues to yield new resources and opportunities despite its mature nature.  …

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  • Australia’s Talon in another North Sea acquisition

    Australia-based Talon Petroleum has entered into a binding heads of agreement for the purchase of 100% of the shares in EnCounter Oil, which owns two UK North Sea licences.   EnCounter is a private, UK-based company formed in 2012 by key former members of the executive…

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  • PetroRio buys Chevron’s stake in Frade field off Brazil

    Brazilian oil and gas company PetroRio has entered into a share purchase agreement for Chevron’s stake in the Frade field offshore Brazil in a deal reportedly worth half a billion dollars.   PetroRio will buy the US oil major’s subsidiary Chevron Brasil Upstream Frade Ltda. which holds…

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  • Oil and Gas Authority sees pick-up in UK offshore drilling

    The Oil & Gas Authority (OGA) has welcomed yesterday’s announcement of CNOOC’s Glengorm gas/condensate discovery in the UK central North Sea.   OGA chief executive Dr Andy Samuel said: “Glengorm was first mapped as a prospect around 20 years ago and it is great to…

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  • Onshore-Offshore Vietnam Contract Goes to Saipem

    Saipem has won an onshore-offshore front end engineering design (FEED) contract for a proposed integrated natural gas-to-power development in Vietnam.   A joint venture of ExxonMobil Exploration and Production Vietnam Limited (EMEPVL), PetroVietnam and PetroVietnam Exploration Production Corporation awarded Saipem the FEED contract for the…

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  • Lundin lets contract for Lundin Luno II, Rolvsnes development

    Lundin Norway has let an integrated engineering, procurement, construction, and installation contract to TechnipFMC for the Luno II and Rolvsnes development in 110 metres of water in the North Sea.   The contract covers the delivery and installation of subsea equipment including umbilicals, rigid flowlines,…

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