Lukoil, Russia's No. 2 oil producer, is switching its strategy to scale down geological exploration abroad, the company's vice president Leonid Fedun told a conference call, Reuters said.
ExTek AS is Norway’s only oil, gas industry core competency training center using globally recognized CompEx Scheme. Seagull aims to be complete provider of training solutions, said its managing director.
Maersk Oil has asked for permission to shut its Janice installation, which produces around 7,000 barrels per day from three U.K. North Sea oil fields.
The next round will be awarded on Sept. 30, and involves five production-sharing contracts covering nine shallow water oil fields along the southern edge of the Gulf of Mexico.
The Climate & Clean Air Coalition Oil & Gas Methane Partnership said it has identified several low-cost, quick-payback projects that lower methane emissions.
Earlier, President Buhari approved the cancellation of controversial offshore processing and crude swap deals for refined oil products between state oil firm NNPC and oil traders, Reuters said.
"For Gullfaks, this gas compression means extended lifetime and an increase in the gas recovery rate from Gullfaks Sør Brent from 62 to 74 percent,” said Astri Fritsen, principal engineer for the NPD.
A state oil firm loyal to Libya's official government invited foreign oil firms to discuss existing oil purchase contracts at September conference in Dubai, according to a statement, Reuters reported.
The companies include Portugal's Galp Energia, Petro Rio, Royal Dutch Shell, Angola state oil company Sonangol and Engie, Brazil’s oil regulator ANP said, Reuters reported.
The minimum work program for each block includes the acquisition, processing and interpretation of 300 sq km of 3-D seismic data and the drilling of one exploration well.
The largest field found in the North Sea in three decades could hold as much as 2.9 billion barrels of oil and has an estimated cost of up to $26.8 billion, of which the first phase is budgeted at $14.2 billion.
Only five companies submitted 33 bids for 33 of the more than 4,000 unleased blocks that were offered, according to the U.S. Bureau of Ocean Energy Management. Bids totaled about $22.7 million.