DNO Swings to Q3 Loss
Independent oil firm DNO swung to a third-quarter loss amid writedowns on assets in the North Sea and northern Iraq, the Norwegian company said on Thursday.The company's third-quarter loss came in at $140.9 million from a year-ago profit of $98.7 million, the company said, while adding it would maintain
Norway's Labour Calls for Debate on Oil Tax Regime
Norway should review its generous tax regime on oil drilling because of climate change, the opposition Labour party said on Monday, three weeks before a parliamentary election which opinion polls suggest it is on course to win. Labour's Marianne Marthinsen…
ENI awarded licenses in Norwegian Sea
Eni has been awarded three licenses by Norway’s Ministry of Petroleum and Energy as part of the APA 2016 – Awards in Pre-Defined Areas. Following the award, Eni is now operator in PL900 in the Barents Sea, with a share of 90 per cent in joint venture with Concedo with 10%.
Statoil Discovery Near Norne
One year after the license award Statoil has made an oil and gas discovery close to Norne estimated at between 20 and 80 million barrels. “It’s great kicking off the new year with a discovery,” says Jez Averty, senior vice president for exploration in Norway and the UK.
Statoil completes acquisition of Byrding interest
On 30 December 2016 Statoil and Wintershall Norge (“Wintershall”) completed their previously announced transaction, whereby Statoil has acquired Wintershall’s 25% interest in the Byrding project on the Norwegian Continental Shelf (NCS). As a result…
Statoil Increases Share in Byrding Development
Statoil has agreed to acquire Wintershall Norge’s 25 percent interest in the Byrding project on the Norwegian Continental Shelf (NCS). On conclusion of this transaction Statoil will increase its interest from 45 percent to 70 percent. Byrding (PL090B)…
Statoil, Partners Submit PDO for Byrding
Statoil and its partners today submitted the Plan for Development and Operation of the Byrding oil and gas discovery in the North Sea to government authorities. Capital expenditures estimated at approximately NOK 1 billion, recoverable volumes are projected at approx.
Statoil Norway Subsea Plan Includes 30 pct Cost Cut
Energy major Statoil and its partners have agreed on a development concept for their Trestakk oil and gas discovery off the coast of Norway after cutting the cost of the project by several hundred million dollars, the company said on Wednesday.
Europa Oil & Gas (Holdings) Update
Europa Oil & Gas (Holdings) plc, the AIM quoted oil and gas company with producing and exploration assets in Europe, provided today an update from Egdon Resources (‘Egdon’) regarding the decision to proceed with the development of the Wressle oil and gas discovery (‘Wressle’) on Licence PEDL180…
Eni's Winning Streak Leaves Gas Rivals Chafing
Eni Zohr gas find biggest ever in Mediterranean, success due to different geology approach - CEO. Eni's giant Zohr gas find in Egypt this month, a gamble taken under the noses of competitors, marked the Italian major's rapid rise to preeminence in the hunt for big new fields.
Report: Oil Discovered North of Falklands
Three oil companies said on Thursday they had discovered oil north of the Falklands, setting up potential further confrontation with Argentina which disputes British sovereignty over the islands. Falkland Oil and Gas (FOGL), Premier Oil and Rockhopper…
UK Summons Argentine Ambassador over Falklands' Comments
Britain said on Thursday it had summoned the Argentine ambassador to explain the latest war of words over the disputed Falkland Islands which included a threat to prosecute British energy firms operating in the area. Last week, Premier Oil Plc and…
2nd Interval at Wressle-1 Well Free Flow Oil
Europa Oil & Gas (Holdings) plc informed that Egdon Resources (‘Egdon’) today confirmed the free flowing oil production rates equivalent to up to 182 barrels of oil per day (‘bopd’), along with 456 thousand cubic feet (‘mcf’) of gas per day, following…
Eni Makes New Oil and Gas Discovery in Egypt
Eni has made a new discovery of oil and gas in Egypt's Western Desert, the Italian group said in a statement on Thursday. The well in the West Melehia deep exploration prospect began production with an initial daily flow of 2,100 barrels, intended for the Melehia field infrastructure treatment, it said.
Petrobras Discovers Oil in Sergipe Basin Farfan
Petrobras announced results of drilling well 9-SES-188D (Petrobras nomenclature) / 9-BRSA-1280D-SES (ANP nomenclature), located at concession area BM-SEAL-11, in block SEAL-M-426, in Sergipe Basin ultra-deep waters. The results confirm the light…
Eni Asset Sales Hit Trouble Due to Oil Rout
Plans by Italian oil major Eni for major asset sales to help fund exploration and its dividend payments have hit problems due to diving oil and gas prices, sources say. State-controlled Eni has already sold assets worth 5 billion euros to finance…
Lundin Petroleum Hits More Oil, Shares Surge
Norwegian Arctic discovery could be game changer; Lundin Petroleum shares rise 7 percent. Noreco, Det Norske shares also rise on news. Swedish oil firm Lundin Petroleum has made a big oil and gas discovery in the Norwegian Arctic, sending its shares…
Lundin Petroleum's Norway Discovery disappoints
Lundin Petroleum's Luno II oil and gas discovery offshore Norway is smaller than expected and analysts said it may be too small to support a stand-alone development. Luno II, discovered last year in the Norwegian sector of the North Sea, is now…
Sound Oil's Nervesa Gas Discovery
Sound Oil, the European / Mediterranean focused upstream oil and gas company, is pleased to update investors on its continued progress with the proposed second well addressing the Southern limb of the Nervesa gas discovery, onshore Italy. The 5…
Argentina Announces 1st Shale Discovery In Chubut Province
Argentina's state-controlled energy company YPF has made the first shale oil and gas discovery in the Patagonian province of Chubut, according to a company presentation seen by Reuters on Wednesday. The discovery, in the San Jorge basin, is located more than 1…
