Exploration

The outcomes would enhance the UK’s energy security and would ensure that emissions from North Sea oil and gas production remain world leading.

DNV has been selected by the International Association of Oil & Gas Producers (IOGP) to support the decarbonisation initiatives of IOGP members – producers of 40% of the world’s oil and gas.

The licences contain two firm wells on the Oswig and Velocette prospects anticipated to drill in the summer 2022 and 2Q23 respectively. All the licences are operated by OMV which will retain a 40% working interest post-transaction.

The company plans to drill the main target horizon, the Sasanof-1 Well, in this prospect during May/June 2022.

Work is continuing to confirm potential recoverable resources, but Neptune’s preliminary estimate is 8-24 million boe.

The three new discoveries offshore Guyana have increased its estimate of the recoverable resource for the Stabroek Block to nearly 11 billion boe.

The amount received at the closing adds to the amount of US$56 700 paid to Petrobras when the sale contracts were signed, totalling an amount of US$63 000.

Cloudbreak will act as a financial partner and sit on the joint operating committee giving corporate direction and reviewing technical information.

Hod B in the North Sea will soon come on stream, thanks to an unmanned facility remote-controlled from the Valhall field.

The transaction will contribute to the optimisation of Maersk's fleet in line with the company's strategic priorities.

The drilling permit has been granted based upon the petroleum resource act paragraph 13.

Eni announces new oil and gas discoveries in Western Desert for approximately 8500 boe per day.

Resources for the entire Cambozola prospect have been estimated at 159 million boe.

The Jade prospect has a GCA audited mean in place potential of 225 million bbl and a P10 in place upside of 395 million bbl.

Cervantes-1, an oil exploration well in the onshore Perth Basin licence L14, failed to encounter hydrocarbons.