New North Sea licensing this year is part of the UK Government’s “ongoing” commitment to the sector, the energy minister has said.
News that the UK government is pondering a North Sea exploration ban has been met with howls of protest – mostly from those who’ve talked a good energy transition but haven’t done very much about it. But re-focusing the sector via progressive change to the licensing regime isn’t “virtue signaling”, as one industry insider put it. It’s downright essential - and long overdue.
Petronas MPM has officially introduced Malaysia’s Small Fields Asset (SFA) production-sharing contract framework as part of an effort to revive its domestic upstream sector and lure new money.
Industry regulator the OGA (Oil and Gas Authority) said 159 onshore blocks under the 14th Onshore Oil and Gas licensing round have been formally offered to successful applicants. The blocks will be incorporated into 93 onshore licences.
The Mexican Government should add further transparency to the process of its offshore bidding rounds as they approach the deepwater phase, according to new analysis. Consulting firm GlobalData said the step should be taken after the government received higher than expected bids in the most recent round. Earlier this year Mexico opened its energy market up to investors for the first time in more than 70 years.
Egdon Resources has been offered a total of seven blocks or part blocks in the first tranche of the 14th onshore oil and gas licensing round. More than two dozen new areas in northern England and the Midlands could face fracking after new licences were awarded for oil and gas exploration. Egdon said the blocks up for grabs were in the East Midlands petroleum province and could expand the company’s acreage and opportunity base within one of its core areas of activity.
IGas said it has been offered six new licences in the first group of licences awarded in the UK’s 14th onshore oil and gas licensing round. The company said the licences are located in the Gainsborough Trough in the East Midnlands and include exploration prospects for both shale gas and conventional oil and gas. IGas already operate 80 sites in the area with many having been in production for more than 20 years.
Oil companies are expected to invest about 2.8 billion reais ($870 million) to complete minimum exploration work at concessions Brazil plans to auction in October, according to the country’s oil regulator. Signing bonuses for the offshore and onshore blocks should reach 979 million reais, Marcelo Castilho, the bidding superintendent at Brazil’s oil regulator, known as ANP, said Thursday at a seminar in Rio de Janeiro.
Mexican state-owned energy giant Pemex will not be participating in round one of the country’s historic energy opening. The move was revealed by Mexican energy minister Pedro Joaquin Coldwell. The initial tenders are part of an opening which is aimed at helping to bring more private investment into the country’s oil and gas sector.
Mozambique's fifth oil and gas bid round has been delayed from its April 30th deadline. The government did say why the deadline had been extended to a later date of July 30th. There are 15 exploration blocks on offer, including three new areas of the northern Rovuma Basin.
Rockhopper Exploration has been awarded a 40% share in an offshore block in Croatia in a partnership deal with Eni. Block 9 is located in shallow waters of the Northern Adriatic gas province and contains the previously discovered Ksenija accumulation along with the Klaudija prospect. The company said the anticipated work programme consists of seismic acquisition, processing and re-processing during the first exploration phase, with the drilling of a well in the second exploration phase.