OKEA said on Thursday that the acreage was in the exploration phase and that data coverage was limited. The license is located on the Trøndelag Platform, ten kilometers east of the Draugen Field, where OKEA is the operator and east of PL 1001 where OKEA is a partner. The other license partners are Neptune and […] Read more
Oil giant ExxonMobil, together with partner Qatar Petroleum (QP), made giant gas discovery to the east Mediterranean region after finding a gas-bearing reservoir offshore Cyprus and estimated in-place gas resources in the reservoir at 5 to 8 trillion cubic feet (tcf) of gas. The gas discovery off the coast of Cyprus could either bring tensions […] Read more
A surge in final investment decisions (FIDs) this year on new petroleum projects worldwide could see sanctioned volumes of oil and gas – excluding shale and tight oil and gas prospects – nearly triple compared to last year’s tally, business intelligence firm Rystad Energy has said. The collective volumes could swell past 46 billion barrels […] Read more
Norwegian oil and gas intelligence firm Rystad Energy expects 33 floating, production storage and offloading (FPSO) vessels to be sanctioned from 2019 to 2021 as oil and gas activity picks up in the offshore sector. One of Petrobras’ FPSOs in Brazil; Source: Petrobras Rystad said last Friday that, of the 33 FPSOs, 15 would require a […] Read more
According to its report on Wednesday, Aker BP’s fourth quarter 2018 total operating income rose to $886 million from $726 million in the prior-year quarter. The increase was mainly driven by higher production volume, which increased 15 percent compared to the fourth quarter 2017. Revenues were impacted by the low oil prices at the end […] Read more
