News

  • Cyprus’ gas export future uncertain, despite discoveries

    Exploration to date offshore southern Cyprus has proven around 11 tcf of recoverable gas, according to Wood Mackenzie.   Whether the discoveries can be commercialised remains to be seen, said Robert Morris, senior analyst: Caspian and Europe Upstream Oil and Gas.   Cyprus has no…

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  • BP to divest mature oil assets in Egypt to Dragon Oil

    BP has agreed to sell its interests in Gulf of Suez oil concessions in Egypt to Dragon Oil, a Dubai-based oil and gas company.   Under the terms of the agreement, Dragon Oil will purchase producing and exploration concessions, including BP’s interest in the Gulf…

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  • Dutch W2W firm Ampelmann debuts in Norway on Aker BP’s Valhall

    Ampelmann, the company providing offshore gangway solutions,  has secured a contract with DeepOcean to support the hook-up and commissioning of Aker BP’s Valhall Flank West (VFW) project, marking Ampelmann’s debut in Norway.   Walk to Work (W2W) has been chosen as the means of offshore…

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  • Eni makes fifth oil discovery offshore Angola

    Italian oil and gas company Eni has made the fifth oil discovery in one year in Block 15/06, in Angola’s deep offshore.   The well has been drilled on the Agidigbo exploration prospect, and analysis of post drill results indicate between 300 and 400 million…

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  • Toshiba Pays US$815 million to Exit Freeport LNG Plant

    Toshiba Corporation will transfer its rights to process natural gas at the Freeport LNG project in Texas to France’s Total SA.   Toshiba will pay Total US$815 million to hand over the 20-year liquefaction rights to the French major and expects to finalise the deal…

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  • Marathon Oil closes Kurdistan divestiture

    Marathon Oil Corporation has closed on the sale of its 15% participating interest in the Atrush block in Kurdistan, where first-quarter production averaged 2,400 net boe/d.   The divestiture marks the company’s exit from the country.   Abu Dhabi National Energy Company PJSC (TAQA) is…

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  • Growing North Sea backlog for Boskalis dive support vessels

    Boskalis Subsea Services has won contracts with a total value of more than £100 million (US$126 million) in the North Sea over the past six months.   These include work for Total’s Tyra redevelopment in the Danish sector, an inspection, repair and maintenance (IRM) campaign…

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  • Rockhopper provides update on its Egyptian portfolio

    AIM-listed Rockhopper Exploration, the oil and gas company with key interests in the North Falkland Basin and the Greater Mediterranean region, has provided an operational update in relation to its Egyptian portfolio, in which Rockhopper holds a 22 per cent working interest.   Al Jahraa-11…

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  • ESAI: Russian oil production set to recover

    Russian production fell by 170,000 b/d from April to May as the disruption to oil exports caused output to fall to 60,000 b/d less than the production-cut commitment. The last hurdle is restoring 750,000 b/d via the northern leg of Druzhba.   However, thanks to…

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