The JV comes about six months after Golar and Schlumberger said they signed a memorandum of understanding.
The total oil in place in the Upper Portland pay has increased from 7.7 MMbbl per square mile to 22.9 MMbbl per square mile.
The final investment decision for the Tengiz expansion is the latest of several projects in recent weeks to receive financial commitments.
Economists, businesses and analysts in oil markets sought to put the crisis in perspective even as some $2 trillion was wiped off the equity markets worldwide.
The import-dependent nation is in the aftermath of its most successful licensing round, with attention on its Atlantic Margin emerging frontier area.
Norway’s Polarcus has been hired to conduct a 3-D marine seismic survey offshore Egypt.
Various subsea equipment will be delivered throughout 2015 and 2016.
GE Oil & Gas has invested more than $20.5 million across its subsea manufacturing facilities in Montrose, Scotland, in a move to enhance its business’s test and assembly and manufacturing capabilities.
Ceona has successfully installed a 570-mt multiple pipelay vertical lay system (VLS) and twin 400-mt cranes onto its next-generation flagship asset, the Ceona Amazon.
Kosmos Energy is taking a fresh look at a handful of new and existing exploration prospects in frontier waters offshore Ireland, according to partner Europa Oil & Gas.
In 2013 Eni sold 20% of its Area 4 license to China's CNPC for $4.2 billion, but since then, oil and gas prices dropped by more than half, Reuters reported.
Petro River said that the onshore license has been extended for a five-year period, during which time it will work with Horizon Energy Partners LLC and others on Phase II of the exploration program.
Despite being an old basin, Britain's North Sea is estimated to have billions of barrels left for extraction, Reuters reported.
Delek said its partner in the tender is Capricorn Oil, a unit of Cairn Energy, Reuters reported.
Delek said its investment is expected to reach $162 million. The sale is still subject to lender and regulatory approval, the companies said, Reuters reported.
Plans also include extracting carbon dioxide from the fields and transporting it via pipeline to the Žutica and Ivanić oil basins for use in INA’s EOR project.
Premier Oil also said it had agreed terms with a preferred bidder for its Pakistan operations, Reuters reported.
Economic Affairs Minister Henk Kamp said that 30 Bcm per year of production would occur only in "the coldest winter you would expect to see in 50 years," Reuters reported.
The presence of thermogenic gas in the Collyhurst section supports the original assessment of the existence of hydrocarbon source rock in the Carboniferous and a viable petroleum system, Petro River said.
Privately owned DEA, the field's operator, holds a 40% stake in the field, while OMV, Maersk Oil and Edison hold 20% each, Reuters reported.
Subsea technology provider Forum Energy Technologies (UK) Ltd. has unveiled a deepwater test facility and received industry accreditation for the calibration laboratory at its new European Operational Centre in Aberdeen.
The Irish government has offered 14 new licensing options in the Irish offshore following the conclusion of the 2015 Atlantic Margin Licensing Round.
Hansa Hydrocarbons has taken its first steps into the Danish offshore sector with the provisional award of two new licences in the country’s seventh licensing round.
Statoil has been awarded six licensing options in Ireland’s 2015 Atlantic Margin Licensing Round. Statoil will operate four of the licensing options and partner in two operated by Exxon Mobil.
The Aberdeen region has been given a £504 million (US$727 million) boost as it faces up to the oil price crisis. The funding will be paid over the next five to 10 years to improve infrastructure and attract jobs.
The contract extends Wood Group’s support of SABIC’s operations globally, according to an Aug. 18 press release.
After raising 2016 full-year output target by 4% on Aug. 18 after better-than-expected output, mainly from its British fields, Premier now expects full-year output of 68,000 barrels per day, Reuters reported.
The Danish shipping and oil group said net profit fell to $101 million in April-June, lagging a forecast of $196 million.
Tensions flared in June 2015 under Macri's predecessor, Cristina Fernandez, when an Argentine federal judge ordered the seizure of millions of dollars' worth of assets owned by drillers operating in the Falklands area, Reuters reported.
As the operator, Statoil holds 100% of the British part of the Utgard Field and 62% of the Norwegian license, Reuters said.