Exploration

BP has discovered natural gas deposits in two wells in the North El Burg Offshore Concession in Egypt.

West Africa is one of the leading areas in the world for deepwater offshore exploration, with Nigeria and Angola the largest producers in the region.

ConocoPhillips has sold its share in NaryanMarNefteGaz to Lukoil as part of its divestment programme.

Woodside Petroleum has reported half-year profits of US$ 812 million as a result of the Pluto LNG start up, higher commodity prices and greater revenue from the Vincent North West Shelf Oil.

Petro SA and Cairn India have signed a farm in agreement for the offshore Block 1 off the west coast of South Africa.

Chimera Energy and PEMEX have been holding meetings about possible shale exploration in the Chiconpontec Formation using the company’s non-hydraulic extraction method.

Statoil has farmed down a 25% working interest in its operated exploration licence offshore Mozambique to Tullow Oil.

We need the oceans now more than ever as they cover 72% of the Earth's surface and control our climate by absorbing CO2 but have explored remarkably little of them.

BP has been ordered by a Russian court to pay US$ 3.1 billion in damages to TNK-BP.

An international tribunal has ordered the Russian government to compensate a group of Spanish investors for the losses they suffered when Russia seized the Yukos Oil Company, one of the largest oil and gas companies in the world.

According to the head of a local oil company, European firms will take part in the latest block auction, but companies from the US may wait until further reforms have been made.

Chevron Corp. has made a major natural gas discovery in the Greater Gorgon Area of the Carnarvon Basin, offshore Western Australia. The discovery will further underpin the companies proposed Gorgon LNG project.

Poland and Ukraine are planning to wean themselves off Russian oil and gas by developing domestic shale gas reserves.

Kosmos Energy has intersected oil and gas condensate in the Wawa-1 exploration well in the Deepwater Tano block, offshore Ghana.

The latest EIC Monitor quarterly report tracking new project announcements across the global energy industry shows an overall reduction in the number of projects announced during the second quarter of 2012.