Bahamas Petroleum Company has announced that, in its efforts to expand the Company’s portfolio options, it has been awarded the AREA OFF-1 petroleum licence offshore Uruguay. Highlights BPC has been awarded the OFF-1 licence, offshore Uruguay OFF-1 contains a management estimated resource…
Gazprom Neft subsidiary Bazhenov Technology Centre will drill and complete in the Salymsky-3 block for commercial development of the Bazhenov formation, Khanty-Mansi Autonomous Okrug-Yugra of western Siberia. Commercial production of non-conventional oil is expected in 2025. The first exploration and appraisal well, with a one km-plus horizontal section,…
Lloyd’s Creates Single Body for Governance to Improve Speed, Efficiency of Decisions Lloyd’s has announced it has merged the Council of Lloyd’s with the Franchise Board, creating one body to govern the marketplace. The decision to merge the two entities was first announced in…
Castel names Navigators exec as marine head Castel Underwriting Agencies, the MGA platform now part of Arch Capital Group, has named Gert van Middelkoop head of its new marine centre of excellence. Gard names Nilssen UK managing director Marine insurer and P&I club Gard…
Market data have been showing a downward trend in US exports of liquefied natural gas. Upcoming figures this week could reveal whether the trendline changes direction. Read on to learn more about what to watch this week in the LNG – and oil…
Capital expenditure (CAPEX) on offshore wind is expected to surpass upstream oil & gas spending in Europe in 2022, according to Rystad Energy. The oil market collapse caused by the Covid-19 pandemic is set to delay several oil and gas developments in Western Europe,…
A new analysis on Gulf of Mexico E&P activities offered by Wood Mackenzie foresees a difficult year ahead in 2020 but with possible recovery taking place next year. The new report, entitled “After the crash: five key changes in US Gulf of Mexico,” discusses…
Siemens Gamesa Renewable Energy (SGRE) has received the firm order from Ailes Marine, an affiliate of Iberdrola, for 62 SG 8.0-167 DD offshore wind turbines for 496 MW Bay of Saint Brieuc offshore wind power plant. This order also includes a ten-year agreement for…
Libya’s National Oil Corporation (NOC) has confirmed the return of production at the Sharara oil field south of the country, after lengthy negotiations by the NOC to reopen the Hamada valve, which had been illegally closed last January- resulting in the shutdown of production and…
Premier Oil Plc has agreed, in principle, on revised terms of a January deal to acquire Andrew area and Shearwater assets in the North Sea from BP Plc. The structure of the consideration and phasing of payments are being adjusted to reflect the material…
