fetching latest news

News tagged in:  

Exploration NEWS

Equinor partners with Algeria’s Sonatrach for oil and gas exploration
May 25, 2021

Equinor partners with Algeria’s Sonatrach for oil and gas exploration

Equinor has partnered with Algeria’s state-owned oil company Sonatrach to examine cooperation in global oil and gas exploration and production. Equinor, together with BP and Sonatrach, is involved in the development and production of two gas fields in the country, In Salah and In Amenas. The In Salah dry gas project, which delivered the first gas in August 2004, involves seven gas fields in the central Sahara area. Claimed to be the fourth-largest gas development project in Algeria, the In Amenas gas project was commissioned in 2006. It is located about 1,200km from the coast, towards the Libyan border.

Active hydrocarbon system in Namibia exceeding expectations, Frontier says
May 6, 2021
Source: world oil

Active hydrocarbon system in Namibia exceeding expectations, Frontier says

The Board of Frontier, the privately held Houston-based international gas exploration company with a focus on Southern Africa, said its activities in Namibia are continuing to exceed expectations. Frontier's Blocks 1723, 1724 and 1823 are in the Caprivi Basin in Northern Namibia covering an area of approximately 6,427 square kilometers (2,481 square miles). A two-year Reconnaissance license was granted on July 1, 2019. Frontier has a strategic relationship with local company Gondwana Petroleum to provide technical services and act as operator for the project.

ADNOC says low carbon oil will play a central role in the energy transition
March 4, 2021
Source: world oil

ADNOC says low carbon oil will play a central role in the energy transition

Dr Sultan Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology and Managing Director and Group CEO of the ADNOC said low carbon oil will play a central role in the energy transition.ADNOC is delivering on this mission as it reduces its carbon intensity by a further 25% over the next 10 years, H.E. Dr Al Jaber said, adding that the company is exploring the potential of new fuels such as Hydrogen, which shows great promise as a close to zero-carbon fuel.

Vedanta will invest $245 mn in 10 blocks
July 4, 2019

Vedanta will invest $245 mn in 10 blocks

Vedanta has won 10 blocks in the Open Acreage Licensing Policy (OALP) Round II and Round III. The firm informed that over the period of the next 3-4 years, it will invest $245 million on exploration in these blocks. Now Vedanta will enter into 10 revenue sharing contracts with the government. It said, "The group believes that the transaction complements its existing strategy to focus on production growth".

Total's new supercomputer expected to transform exploration sector
June 19, 2019
Source: Reuters

Total's new supercomputer expected to transform exploration sector

The new supercomputer of Total is said to enhance efficiency, enable its geologists to find oil faster, cheaper and with a better success rate. Total informed, "The Pangea III computer build by IBM will help process complex seismic data in the search for hydrocarbons 10 times faster that before". This computer has secured top rank among supercomputers in the oil and gas sector, according to TOP500 table.

Shell enters China's Shale Oil sector
April 9, 2019

Shell enters China's Shale Oil sector

China is making efforts to penetrate into massive unconventional resources and is developing its shale gas assets. As a part of this initiative, oil major Shell has signed an agreement with Sinopec to study an East China block. Presently, shale oil makes up to only 1% of the nation's crude output. Sinopec has now put its hope on Shell's expertise in shale oil exploration for the development of China's resources.

No new gas projects without zero gas flare: NNPC
April 3, 2019
Source: The Guardian

No new gas projects without zero gas flare: NNPC

The Group MD of Nigeria National Petroleum Corporation, Mr Baru abbounced that no new gas projects will be approved without zero gas flare modalities. He also assured HOSTCOM of the benefit from the exploration of the nation's hydrocarbon resources by partnering with other host communities. Further, he said, “We will continue to dialogue with the bodies so as to create enabling operating environment for the business and for the communities”.

£400 million loss for Carin Energy
Sept. 12, 2018
Source: Energy Voice

£400 million loss for Carin Energy

Europe’s leading energy company, Carin Energy has reported £400 million loss in half-year. Admitting its mistakes, the company commented that regardless of its progress in North Sea this year, it has experienced heavy losses on “derecognition of financial assets”. Carin experienced pre-tax losses worth £383m in the first six month of 2018. CEO of the company has said that “Cairn has made strong progress across its balanced portfolio.”

DEA secures contract for exploration blocks in Mexico
June 28, 2018
Source: Compelo

DEA secures contract for exploration blocks in Mexico

German E&P giant, DEA Deutsche Erdoel has secured the contracts for three exploration blocks 16, 17 and 30, offshore Mexico granted by the National Hydrocarbons Commission CNH (Comisión Nacional de Hidrocarburos). The contracts were signed by DEA’s subsidiary, Deutsche Erdoel Mexico, and partners. Deutsche Erdoel Mexico will act as the operator in all three blocks.

Saudi oil production to hit 10 million BPD
June 13, 2018
Source: Oil Price

Saudi oil production to hit 10 million BPD

While reports about Russian oil production recovering to 11.1 million barrels have flooded the media, Saudi Arabia is now being said to have pumped over 100,000 bpd of crude oil more in May, with daily production reaching 10 million bpd. The increase is already in progress while others speculate and at least Iraq is unhappy about it. The 22nd June meeting of OPEC+ is shaping up as a tough one.

Halliburton’s new logging while drilling technology
June 5, 2018
Source: World Oil

Halliburton’s new logging while drilling technology

US- based Halliburton has come up with a new logging-while-drilling technology- the ‘EarthStar Ultra-deep Resistivity Service’ that uses azimuthal electromagnetic measurements. The service will help achieve the depth of investigation of more than 200ft and will be used to map the geological structure around a wellbore; enhancing the operator’s knowledge of the reservoir for improvement of recovery potential. EarthStar has a number of applications including geomapping, geosteering and geostopping.

Pakistan to drill 90 new wells in hunt for further oil and gas reserves
May 8, 2018

Pakistan to drill 90 new wells in hunt for further oil and gas reserves

As reported by the AFP news agency, the government of Pakistan is planning to drill around 90 exploration and production (E&P) wells across the next fiscal year. This strategy is part of the government’s objective to make the country “self-sufficient in the energy sector”.

Total to buoy up exploration efforts in South Africa as fuel network grows
May 7, 2018
Source: World Oil

Total to buoy up exploration efforts in South Africa as fuel network grows

French energy giant Total SA intends to bolster oil exploration and open more fuel stations in Africa’s most industrialized country, consequently enhancing its footprint in the region. In South Africa, the company plans to expand its network of more than 500 fuel stations and finish a deepwater exploration well commenced in 2014.

Faroe Petroleum's both infill wells are brought to production
April 29, 2018
Source: World Oil

Faroe Petroleum's both infill wells are brought to production

Faroe Petroleum has announced that both new infill wells drilled by the oil and gas firm dealing principally in exploration this year on Tambar field in Norway (Faroe 45%), have now been brought successfully into production.

Oman seeks major tie-ups to enhance production
April 25, 2018

Oman seeks major tie-ups to enhance production

According to the daily National, Oman, the largest oil producer in the Middle East region, is looking forward to setting up deals with global oil giants like Shell, Total and Eni for hydrocarbon exploration in an attempt to raise production in the sultanate. The contracts would combine bilateral tie-ups, alongside awards offered last year in a licensing round.

India-BP and Reliance announced sanctioning of Satellite Cluster project in KG D6
April 23, 2018
Source: World Oil

India-BP and Reliance announced sanctioning of Satellite Cluster project in KG D6

BP and RIL announced the sanctioning of the second of the three projects- Satellite cluster project- in Block KG D6. A total of about 3 Tcf discovered gas resources with a total investment of $6 billion is expected to develop out of these three projects phased over 2020-2022. Mukesh Ambani, chairman and managing director of RIL expressed his delight on the on-schedule progress of the project.

SDX announced natural gas discovery at its LNB-1 exploration well
April 23, 2018
Source: World Oil

SDX announced natural gas discovery at its LNB-1 exploration well

SDX Energy Inc. announced natural gas discovery at its LNB-1 exploration well, drilled to a total depth of 1,861m. The well is now being completed as a conventional gas producer in the Upper Dlalha and the drilling rig will now move to the LMS-1 exploration well. Paul Welch, President and CEO of SDX, commented, “We are very excited about the results of this exploration well.”

New Zealand to stop the grant of exploration permits
April 13, 2018
Source: World Oil

New Zealand to stop the grant of exploration permits

With the objective of becoming carbon-neutral by 2050, New Zealand draws a line on the sand with a ban on offshore oil and gas exploration.  Aligning with the Paris targets, this step is important to create a clean, green and sustainable future for the country. However, the opposition has termed it as “economic vandalism”.

Please Login to Save News for Later