Tullow expects to report pre-tax impairments and exploration write-offs of around $1.5 billion for 2019, as a result of a lower oil price forecast and a reduction in 2P reserves at the TEN project, offshore Ghana.
Africa and South America-focused Tullow Oil said today that it had beefed up its portfolio with six new licences off Peru.
Almost a year after the first liquefied natural gas cargo left the Gulf of Mexico, the U.K. is still waiting to claim a slice of American supply. By the end of the month it will, but it won’t be made in the U.S.
London-listed Baron Oil said today that two of its blocks in Peru contain nearly a billion barrels of recoverable crude and billions of cubic feet of gas.
Sempra Energy has agreed to buy a majority stake in a $5billion natural gas pipeline project in Peru.
Baron Oil today said new seismic data had boosted its confidence levels in its ability to leverage acreage onshore Peru.
Peru said it plans to decrease the royalty payments it receives from oil companies by July in a bid to survive the oil price crash.
Baron Oil has confirmed completion of its $1.9million onshore seismic acquisition programme in Block XXI.
Baron Oil said steady progress is being made on the seismic acquisition of data onshore Peru. The company said GSS began the onshore data acquisition last month as it looked to collect the first ever 2D seismic programme on Block XXI.
Union Oil and Gas Group has taken a majority stake in a high-potential oil and gas block in Peru as part of its expansion plans in Latin America.
Baron Oil has begun the seismic acquisition programme in the area around the Minchales well location in the south of Block XXI, onshore Peru.
Baron Oil has started work on its onshore well in Peru following delays caused by customs issues relating to its seismic equipment.
UK independent Baron Oil said it expects to begin a seismic program on Block XXI onshore Peru around November 10, following a delay to equipment caused by Hurricane Patricia.
Baron today confirmed Vale Oil & Gas submitted the final $1.2million for the farm out of Block XXI in Peru more than a year after the initial terms were agreed.
Baron Oil is to undertake further exploration in Peru after receiving the backing of the Lima government and local communities.
South American focused Baron Oil has won approval from state-owned Perupetro to convert its third work phase from seismic into a drilling obligation after additional hydrocarbon discoveries. The Peruvian oil and gas provider also approved the company’s Force Majeure (FM) clause, which will be invoked on Block Z-34 in the country.