Equinor to press ahead with £385m Verdande oilfield
Equinor has submitted plans to press ahead with the £385m Verdande oilfield in Norway.
E&P
Novatek dodges bond default through shift to ruble payments
Novatek noteholders have agreed to change the terms of a $1 billion Eurobond, letting the Russian company pay in rubles instead of US dollars.
Well-slot: Two active exploration wells in Norway
As of 27 October, Westwood Global Energy reports that there are two exploration wells active, one in the Northern North Sea and one in the Norwegian Sea. Since the previous report, one exploration well program has completed.
Gas finds helped deliver East Med deal, but inflation is looming
The drive to secure additional energy supplies in the East Mediterranean was a rare case of hydrocarbons aiding, rather than hindering, a political agreement, Energean head Mathios Rigas said this morning.
Al Cook trades up oil for diamonds as he leaves Equinor for De Beers
Al Cook is trading up oil exploration with Equinor for hunting for diamonds in Africa with De Beers.
Well-slot: One-in-four hit rate for Norway exploration
As of 26 September, Westwood Global Energy reports that there are two exploration wells active, one in the Northern North Sea and one in the Norwegian Sea.
Well-Slot: Trio of active exploration wells in the UK
As of 26 September, Westwood Global Energy reports that there are three exploration wells active, with one in the CNS and two in the NNS. Two appraisal wells are currently active in the CNS. One well completed at Diadem.
Chevron tees up Aphrodite plan, as ministers talk maritime borders
Chevron and partners have signed up to develop the Aphrodite field, offshore Cyprus, with drilling due to start in the first half of 2023, while political talks are continuing.
TotalEnergies denies supplying fuel for Russian fighter jets
TotalEnergies has denied a role in fuelling Russian fighter jets in their attacks in Ukraine, in response to allegations published today by France’s Le Monde.
Cyprus find for Eni, Total, with more drilling to come
Eni (ENI:MI) and TotalEnergies (LON:TTE) have made a major gas find at the Cronos-1 well, in Block 6 off Cyprus.
Lundin legend Lukas passes away
Lukas Lundin, of the Lundin Group, has died at the age of 64 after a two-year struggle with brain cancer.
Neptune Energy gets after Ofelia exploration prize
Neptune Energy has kicked off drilling on the Ofelia exploration well in the North Sea.
Chevron plans to drill Cyprus well by November
A Chevron team has visited Cyprus today to talk about developing the Aphrodite field, in the island’s exclusive economic zone (EEZ).
Tengiz explosion kills two
An explosion this morning at Kazakstan’s Tengiz oilfield has killed at least two workers, according to local reports.
Mubadala leans on gas to hit the 500,000 boepd mark
Abu Dhabi’s Mubadala Petroleum has reached 500,000 barrels of oil equivalent per day, for the first time in its history.
Energean shifts London AGM to skip Greek protests
Energean has shifted its AGM in London in response to a proposed demonstration around working conditions at its Greek oilfield.
Equinor and partners to invest £750m in six discoveries at Halten East
Equinor and its partners have decided to invest NOK 9 billion (£746m) in the Halten East development area in Norway.
Exxon scores more gas offshore Cyprus
ExxonMobil has made a good-quality gas find at its block offshore Cyprus, on the Glaucus-2 well.
OMV steps back from Russian plans, while Wintershall considers options
OMV will not go ahead with its purchase of a stake in Gazprom’s Urengoy gas and condensate field. It is also “reviewing” its involvement in Nord Stream 2.
High and volatile oil prices for the next five years, BofA forecasts
Brent oil prices average $60-80 per barrel until 2027, BofA Global Research has said in a new report, suggesting high prices are here to stay – at least in the medium term.
Norway well slot: Three exploration wells active
Westwood Global Energy reports that there were three exploration wells active as of 24 January. One exploration well has spudded and completed in 2022.
North Sea ‘falling behind’ as global offshore investment returns to pre-pandemic levels
The North Sea is one of just a handful of regions “falling behind” as offshore oil and gas investment returns to pre-pandemic levels around the world.
Var Energi IPO on the way, say owners Eni and HitecVision
An initial public offering (IPO) is to be launched for Norwegian operator Var Energi, ownership partners Eni and HitecVision have announced.
BP and Rosneft only oil explorers to deliver 1billion+ barrels in 2021
BP and Rosneft were the only companies to deliver more than a billion net barrels of oil equivalent through exploration last year, according to new research.
AkerBP makes £10.5bn merger move on Lundin
AkerBP has set out a plan to buy Lundin Energy’s E&P business, which it will pay for in a combination of cash and shares.