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.
E&P
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.
CHC lands contract for Capricorn Diadem drilling campaign
Helicopter operator CHC has landed a contract to transport workers for the Capricorn Energy (formerly Cairn Energy) Diadem drilling campaign in the North Sea.
BP, SOCAR target Petronas’ stake in Shah Deniz
BP and Azerbaijan’s state-owned SOCAR have pre-empted a sale of equity in the Shah Deniz field to Russia’s Lukoil.
European gas prices risk demand destruction, Serinus CEO warns
When a gas company thinks the price is too high, it does suggest that something has gone awry in the market, but that is exactly what Serinus Energy’s CEO has been saying.
Craig International nets new orders worth more than £5m
Offshore procurement specialist Craig International, of Aberdeen, is to deliver two new contracts worth a total of more than £5 million through its fledgling Ecobuy service.
Cyprus restarts drilling push with Exxon, Eni talks
Cypriot President Nikos Anastasiadis has held talks with ExxonMobil ahead of drilling planned for the end of the year.
Block appoints Asher to restore board
Block Energy, which recently won a shareholder vote against an activist investor, has appointed Jeremy Asher to act as a non-executive director.
Eni and Neptune start pumping from Merakes offshore Indonesia
The Eni-led Merakes deep-water development in the East Sepinggan block offshore Indonesia has started gas production in the Kutei basin.
Neptune Energy commences drilling at Adorf gas development
Neptune Energy today announced drilling has begun at its operated Adorf Z16 gas development well in the municipality of Hoogstede, north western Germany.
Chevron’s Australian business is least resilient among big upstream players
Rystad Energy estimates that Chevron, based on the gas reserves of its discovered fields in Australia, holds the top position in terms of non-producing assets, totalling 21 trillion cubic feet (Tcf), among the major upstream companies operating in the country.
TechnipFMC wins Malaysia deep-water deal
UK-based engineering giant TechnipFMC has won a deal worth between $250 million and $500 million for a key contact at the Petronas-operated Limbayong deep-water development offshore Malaysia.
Serinus focuses on returns, as debt shackles come off
Serinus Energy’s “shackles are off”, the company’s CEO Jeffrey Auld has said, with a newfound focus on generating cash and modest drilling plans.
Neptune falls to third-quarter loss but North Sea projects brighten outlook
Neptune Energy fell to a loss in the third-quarter as its figures came under pressure from lower oil and gas prices and “operational issues” in Norway and Algeria.
Independent E&P firms that fail to adjust to energy transition will be gone by 2050, analyst says
Independent exploration and production (E&P) firms that fail to adjust to the energy transition face extinction before 2050, an analyst said today.