The company has signed the contract for the exclusive exploration and development rights of the offshore block A5-A.
During the period the company maintained production levels in addition to recommencing onshore drilling and increasing offshore activity, resulting in a strong start to Q4.
TGS and Schlumberger today announced a new multiclient nodal seismic project in the US Gulf of Mexico.
More Exploration news
Equinor, ENI and Petoro have completed an appraisal well on the Cape Vulture discovery, and found a volume potential of 50 – 70 million recoverable barrels of oil.
The current operator of the exploration site in West Sussex has safely finished a seven day well test of the horizontal well there.
The company has a 100% working interest. Upon a commercial discovery CNOOC has the right to participate in up to 51% working interest.
The company has announced a major gas discovery on the Glendronach prospect, located offshore U.K. West of Shetland.
The Romanian government has proposed a reduced royalty and additional tax structure for offshore investments, allowing a larger proportion of capital investments to be deducted for tax purposes.