Fugro has been awarded a contract by Guangzhou Marine Geological Survey (GMGS) for gas hydrate investigation on the Northern Continental Slope of the South China Sea. The contract is valued at approximately US$40 million and the project is expected to commence in the second quarter of 2018.
This significant find marks the first documented occurrence of ‘live’, or flowing, oil from onshore Jamaica and will be of particular interest to oil explorationists focused on Central America and the Caribbean.
Aker BP is about to complete drilling of the Frosk exploration well 24/9-12 located near Alvheim in the North Sea. The well has proved oil. Preliminary analysis indicate a discovery size of 30 - 60 million boe, which is significantly more than the company’s pre-drill estimates of 3 - 21 million boe.
More Exploration news
Qatar Petroleum entered into an agreement with Total of France to acquire a 25% participating interest in the Exploration Block 11B/12B, offshore South Africa.
SDX Energy Inc., the North Africa focused oil and gas company, has spud its KSS-2 development well on the Sebou permit in Morocco.
Total has signed an agreement to sell a 25% interest in the Exploration Block 11B/12B, offshore South Africa, to Qatar Petroleum. The transaction remains subject to regulatory approval.
Total has signed agreements to acquire interests into two exploration licenses offshore Guyana, the Canje Block and the Kanuku Block, and holds holds an option to purchase a working interest in the Orinduik Block.
During the period, Trinity continued to build on the momentum achieved during the first three quarters by delivering yet further growth in profitable production and strengthening of the balance sheet.