BP has made significant cuts to its oil exploration team, reduced to less than 100 people compared to a peak of over 700 before Bernard Looney's tenure, according to a news report.
Guyana is the world’s most exciting frontier oil and gas exploration area. There’s a lot of oil, it’s good quality and it’s relatively cheap to produce. It has attracted a host of major players, including Hess, CNOOC, Total, Repsol, Qatar Petroleum, Tullow and, above all, ExxonMobil.
88 Energy Ltd (ASX 88E; LON 88E) this week executed its drilling contract to drill the Merlin-1 and Harrier-1 wells for Project Peregrine on the North Slope of Alaska.
Alaska’s North Slope basin has a long history of successful oil discoveries — recent discoveries have included the two largest conventional oil discoveries onshore North America in over 40 years.
BHP Billiton said on Monday it will spend $900 million, or 18% of its capital budget, in exploration next financial year.
Bahamas Petroleum Company shares jumped after the islands' senate passed the Petroleum Bill that allows a framework for exploration operations.
Resource-rich Iraq's fifth licensing round for oil exploration will be held in the next few months and will involve 10 oil blocks, according to the Opec member’s oil minister.
Interest in Falkland Islands oil exploration rose today after US oil firm Noble Energy agreed a deal to take control of licenses from explorer Falklands Oil and Gas.
Environmental pressure group Greenpeace has launched a worldwide campaign to have the Arctic declared a sanctuary.
Scottish companies should have no fears about investing in oil exploration and production in the Falklands, a business leader from the islands said yesterday.
Argentina's Foreign Ministry is planning legal action against all companies involved in oil exploration offshore the Falkland Islands, which Argentina terms the Islas Malvinas and claims as part of its territory.
Increased interest in oil exploration in the Barents Sea offshore Norway has seen a record number of blocks nominated for inclusion in the country's next licensing round.
DENMARK'S A.P. Moller-Mærsk yesterday announced a £1.56billion Brazilian acquisition.