Neptune Energy’s Cara discovery in licence PL636 in the Norwegian North Sea was awarded the Exploration Innovation prize at last week’s Recent Discoveries Conference in Oslo. Cara was one of ten nominees and one of three finalists, the others being the Kayak and Zumba…
Norway’s Equinor and Azerbaijan’s Socar have signed a Risk Service Agreement (RSA) related to the appraisal and development of the Karabagh oilfield and a Production Sharing Agreement (PSA) for the Ashrafi, Dan Ulduzu, Aypara area. Statoil Azerbaijan signed the agreements on behalf of Equinor. …
President of Azerbaijan Ilham Aliyev has inaugurated the Southern Gas Corridor project in Sangachal terminal in Azerbaijan, which will be supplied with gas from the BP-operated Shah Deniz field in the Caspian Sea. Stretching over 3,500 kilometres, crossing seven countries and involving more than a dozen…
What NOAA Expects in 2018 Atlantic Hurricane Season On the heels of the costliest hurricane year on record, the Atlantic is expected to produce five to nine of the mighty storms during the six-month season which started on the 1st June, the National Oceanic and…
Lebanon’s search for its first oil and gas reserves began on the 29th May after authorities approved an exploration plan submitted by a consortium of France’s Total , Italy’s Eni and Russia’s Novatek. Energy and Water Minister Cesar Abi Khalil said in a televised…
A sustainable energy system can be achieved more quickly if the existing oil and gas infrastructure in the North Sea, some of it already written off, is combined with existing and new wind parks. In this way the North Sea can play an important…
FPSO operator BW Offshore expects activities in the offshore field developments sanctions to pick up, following years of underinvestment caused by the oversupply of oil in the market. Providing its quarterly results, BW Offshore said: “Offshore production of oil and gas is expected to…
Oil Minister Jabar Ali al-Luaibi has announced that the re-construction and rehabilitation of the first unit of the Al-Kask refinery in Ninawa is complete. The facility can process 10,000 barrels of oil per day (bpd). Work is continuing to finish the second unit,…
Asian spot liquefied natural gas prices breached the US$9 per million British thermal unit (mmBtu) mark this week, a three-year summer season high driven by crude oil gains, production outages and demand from key Asian consumers. Spot prices for July delivery in Asia were…
Oil prices fell the most in 11 months in New York as Saudi Arabia said it expects OPEC and its partners to boost supplies later this year, easing restraints intact since early 2017. US futures were down four percent, the biggest drop since the…
