Total has acquired Marathon Oil Libya which holds a 16.33% stake in the Waha Concessions in Libya. This acquisition will give Total access to reserves and resources in excess of 500 million barrels of oil equivalent, with immediate production of around 50.000 barrels of…
Borders & Southern, the UK-based oil and gas exploration company with offshore assets in the Falkland Islands, is optimistic about its Darwin assets following an independent resource review. Namely, the company said on the 28th February that the independent evaluation of the Darwin East…
Wintershall Norge has awarded two major subsea contracts for its operated Nova field (formerly Skarfjell) in the Norwegian North Sea. A subsea production system contract has been awarded to Aker Solutions AS, and a pipeline and subsea construction contract has been awarded to Subsea…
Allseas’ Pioneering Spirit is making good progress with laying of the first string of the TurkStream gas pipeline in the Black Sea, according to operator Gazprom. The vessel recently passed the ‘KP660’ point close to the border of the Bulgarian Exclusive Economic Zone. It…
Africa Energy Corporation. is advancing its farm-out with plans to drill an exploration well in 2019 on Block 2B offshore the west coast of South Africa. The company announced the development after it was granted a two-year renewal of the exploration licence by South…
On the 28th February, Greece’s parliament gave the go-ahead for companies including France’s Total and Italy’s Edison to explore for oil and gas in the west of the country. Licences for four blocks – one offshore and three on land – were awarded in…
ExxonMobil said on the 28th February that it will pull out of exploration and research joint ventures with Rosneft due to US and European Union sanctions against Russia. Exxon, the world’s largest publicly traded oil producer, said the exit will result in an after-tax…
Is it time for an offshore marine decom product? Dennis Culligan of risk, insurance and claims management company Longdown|EIC Risk Consulting Ltd feels there remains a worrying lack of consensus over the extent of liabilities relating to the decommissioning of offshore assets and whether existing…
The United States will overtake Russia as the world’s biggest oil producer by 2019 at the latest, the International Energy Agency (IEA) said on the 27th February, as the country’s shale oil boom continues to upend global markets. IEA Executive Director Fatih Birol said…
For all the talk of aging oil fields and shrinking production, the UK is about to achieve a surprising feat: it is on the brink of becoming a net crude oil exporter for the first time in 14 years. To put the milestone into context,…
