Exploration - 17 October 2014

Five stand-out stories from this week’s upstream oil and gas news.

Eran Chvika, Norton Rose Fulbright LLP, Paris, explains the importance of reserve based lending for funding oil and gas projects.

Marathon Oil has closed the transaction with Det norske for the sale of its Norwegian business for US$ 2.7 billion.

Projects in Saudi Arabia have the most recoverable reserves among the world’s top upstream developments, according to GlobalData.

Petronas’ exploration and production subsidiary has ordered Kongsberg’s SiteCom® real-time drilling operations software.

Genesis was presented with Bronze Corporate Partnership by IChemE’s Director of Policy, Andy Furlong, on 15 October 2014.

Achieved Q3 production of 25 175 bpd; commencing seismic on New Magdalena Basin blocks.