Following his appointment as interim CEO in May 2018, and the recently closed Santos production acquisition, Alan Booth and the Board have reviewed and agreed the key next steps to enable Ophir to deliver the inherent value in its asset base and maximise value for…
On the 14th November the Abu Dhabi National Oil Company (ADNOC) announced a US$1.4 billion (AED 5.1 billion) investment to upgrade and expand its Bu Hasa field, which it says will increase crude oil production capacity to 650,000 barrels per day (bpd). The company’s…
The North West Shelf Joint Venture offshore Western Australia has signed non-binding preliminary agreements with the Browse Joint Venture and Chevron, the leaseholder of the Clio-Acme fields. This involves processing of the respective offshore gas resources through the North West Shelf (NWS) facilities on…
The previously proposed merger between Norway’s Bergen Group and its compatriot oil service company Endúr Fabricom has now received unanimous approval from the respective board of directors of the two firms. The respective boards of the companies involved in the merger have now unanimously…
Azinor Catalyst, the Seacrest Capital Group-backed E&P Company focused on the UK Continental Shelf, has announced an oil discovery at its 9/14a-17B well and associated side-track on the Agar-Plantain Prospect. The initial 9/14a-17B well on the Agar-Plantain Prospect, was drilled safely to its target…
Global oil supply will outpace demand throughout 2019, the International Energy Agency forecasted in its latest Oil Market Report. Since midyear, oil supply had increased sharply with gains in the Middle East, Russia, and the US more than compensating for falls in production in…
Lloyd’s opens Brussels office Lloyd’s has opened its insurance subsidiary in Brussels which is set to allow the market to continue operating and serving its clients in the EU after Brexit. Lloyd’s Brussels is Lloyd’s first Europe-wide operation and will bring Lloyd’s expertise closer…
The well-heeled, buttoned-down world of international oil now has competition from cowboy boots and jeans. EOG Resources Inc’s US$1.1 billion in third-quarter adjusted net income vaulted the biggest American shale driller into the same league as Italian oil giant Eni SpA, ConocoPhillips and Occidental…
Equinor has informed partner Jersey Oil & Gas that appraisal drilling of the Verbier oil discovery in the UK North Sea will get under way in the first quarter of 2019. The semi-submersible West Phoenix, scheduled to drill the well, is presently working on…
Airswift, a global workforce solutions provider for the energy sector, has opened a new office in Aberdeen, strengthening its commitment to the North Sea. Airswift said on the 13th November that the office was set up to support the company’s growth and provide on-the-ground…
