Shell and partner Deltic Energy have confirmed plans to drill the “high-impact” Pensacola prospect in the UK southern North Sea.
Equinor has announced the biggest discovery so far this year on the Norwegian continental shelf (NCS).
Neptune Energy will use Borr Drilling’s new Prospector 1 rig for a range of jobs offshore Netherlands and UK as part of a $21.4 million contract.
A landmark £16 billion deal has given the North Sea oil industry a huge boost in its quest to transition to a low-carbon future.
UK jobs and companies would “pay the price” if ministers agreed a ban on new North Sea exploration, according to a senior industry source.
The UK’s leading oil and gas industry trade body has said any potential ban on new exploration in the North Sea would put the country’s net zero future at risk.
UK ministers are considering a ban on new oil exploration licenses in the North Sea as a move away from fossil fuels, a step that could hit jobs and the Scottish economy, the Telegraph reported.
Australia’s Woodside Energy is reducing its presence in Myanmar and expects to fully demobilise its offshore exploration drilling team over the coming weeks following reports of human rights violations in the Southeast Asian nation.
Petronas MPM reckons there is at least 6 billion barrels of oil equivalent (boe) waiting to be discovered in Malaysia’s deep waters.
Analysts at IHS Market report that Repsol’s highly anticipated Rencong-1X wildcat in the frontier deep waters of Indonesia’s North Sumatra basin is targeting prospective gas resources of 4 trillion cubic feet (cf).
Bosses at Apache Corporation hailed the firm’s response to the Covid pandemic and price crash despite pre-tax losses widening to £3.4 billion in 2020 from £2.1bn the previous year.
Malaysian national oil company (NOC) Petronas has hit oil at its North Madura II production-sharing contract (PSC) offshore East Java, Indonesia.
Thai national oil company PTT Exploration & Production (PTTEP) has hit sweet gas with its first exploration well, the shallow-water Dokong-1, in Block SK417, off the Malaysian state of Sarawak.
Law makers in the Philippines are seeking to refocus the Philippine National Oil Company’s (PNOC’s) investment mandate towards exploration and production ventures. The move is part of an effort to revive the Southeast Asian nation’s ailing upstream sector and attract new investment as its energy security situation continues to deteriorate.
News that South Korea aims to build the world’s largest offshore wind farm by 2030 follows moves by major exploration and production companies to establish a foothold in the nascent market.
Human rights groups and industry executives have slammed Woodside Energy’s rationale to proceed with a major gas development and exploration campaign in Myanmar following a military coup and subsequent bloody protests.
Malaysia has awarded shallow-water exploration Block SB405 to U.S. major ConocoPhillips off the coast of Sabah.
Transparency campaigners in Myanmar have appealed to foreign upstream producers to stop paying revenue to the military-led government which seized power in coup on 1 February.
Repsol and Petronas are on track to drill the much-anticipated Rencong-1X wildcat in the frontier deep waters of Indonesia’s North Sumatra basin.
The Indonesian government forecasts that 616 new development wells will be drilled across the archipelago this year following a strong rebound in global crude prices.
New upstream oil and gas projects worth about $15 billion will be sanctioned in Australasia this year, according to Rystad Energy’s forecast, marking a huge boost compared to the $1.2 billion committed to new projects in 2020.
The bloodless military coup in Myanmar has triggered some upstream companies to assess whether they should activate force majeure clauses in their production-sharing contracts (PSCs) with the government.
Experts from EY, Wood Mackenzie and NorthStone Advisers say setting renewable energy targets will be high on oil and gas firms' agendas.
The atmosphere in Myanmar remains volatile after the military seized power from the National League for Democracy (NLD) government and is creating logistical challenges for upstream companies, including Woodside Energy, that operate in the country.
High-impact targets from Equinor and Shell have been named among the “wells to watch” for the UK North Sea in 2021 by Westwood Energy.