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The acquisition is expected to increase Total’s output to 3 MMboe/d by 2019.
The agreement gives Total stakes in the Iara and Lapa fields and gives Petrobras an option to acquire interest in the Perdido Belt area in the Gulf of Mexico.
News of a deepwater Gulf of Mexico discovery is made as the company reports falling profits and growth priorities.
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 import-dependent nation is in the aftermath of its most successful licensing round, with attention on its Atlantic Margin emerging frontier area.
Oceaneering acquired Ecosse Subsea, a provider of offshore engineering, seabed preparation, route clearance and trenching services to the renewable energy and oil and gas industries.
Western Greece is an underexplored area and very little data exists on its hydrocarbon potential.
Angus Energy agreed to acquire a 25% interest in Cuadrilla's U.K. license for onshore oil exploration at the Balcombe Field discovery in West Sussex as part of a new joint venture agreement.
The licenses comprised 45 in the North Sea, 22 in the Norwegian Sea and eight in the Barents Sea and were awarded in a so-called annual predefined areas (APA) licensing round, introduced by Norway in 2003 to encourage exploration and development of discoveries near existing infrastructure.
At least one European company has shown interest in the undeveloped Gaza Marine Field but Shell's discussions over the field have ground to a halt due to worsening political tensions in the region.
The Horse Hill-1 (HH-1) well has flowed light, sweet crude at an average rate of 168 barrels per day (bbl/d), Solo Oil said in a news release.
Roxi Petroleum’s Well 143 at its flagship asset BNG in Kazakhstan has flowed oil strongly since the start of 2016 and continues to flow well, the company said in a news release Jan. 13.
Exploration well 7130/4-1 is the first well drilled in PL708. It was drilled to 3,160 m total depth in 288 m of water by the Transocean Arctic semisubmersible drilling unit.
Gas flowed from the well at a rate of 4.32 MMcf/d on a 16/64-in. choke from a 41.3 meter interval in the Rotliegend sandstone, FX Energy said in a news release.
The well encountered a combined oil column of almost 50 m (164 ft) in two different limestone formations and flowed oil to surface during drillstem tests.
Well 6507/11-11 will be first well drilled in production license 591 near Heidrun and Njord fields in Norwegian North Sea. The license 591 was awarded on Feb. 4, 2011.
Madrid, Spain-based Repsol produces 18 Mcm of gas in Bolivia. The new gas discovery is in the Margarita-Huacaya Block in southern Bolivia, in the Caipipendi area.
This is production license 589’s first exploration well, drilled to 4,655 m vertical depth. It was terminated in Middle to Upper Triassic red sandstone layers in 262 m of water.
UK Oil & Gas Investments Plc found more than 8 Bbbl of shale oil in Horse Hill Field in Weald Basin. The basin is near London’s second-busiest airport, Bloomberg said.
Statoil ASA made another natural gas discovery in Block 2 offshore Tanzania, Reuters said. The company will now appraise one of its previous seven discoveries, and then evaluate several projects.