Exploration

In a recent survey conducted by Reuters, analysts were asked to predict the likely price of crude oil by the end of the decade.

Canadian company Tag Oil has made a US$ 534 million bid for New Zealand’s Greymouth Petroleum.

Somaliland’s mining and energy minister has claimed that the internationally unrecognised state could see companies drilling for oil within its borders by 2014.

Tanzania and the semi-autonomous island of Zanzibar have reached a deal on the future sharing of hydrocarbon reserves after arguments resulted in exploration projects being delayed.

Russian giant, Gazprom has pledged to invest US$ 38 billion in the development of the eastern Chayanda gasfield and a pipeline to Vladivostok.

A lack of spare capacity in manpower and materiel could raise serious safety concerns for the Norwegian oil and gas sector.

The UK’s 27th O&G licensing round has been deemed a success after 167 licenses covering operations in more than 330 blocks were awarded to oil and gas companies.

Chevron has confirmed that it has discovered 67 m of net gas pay in the Satyr-4 exploration well, potentially providing more resources for the Gorgon LNG project.

Serimax has been commissioned to provide welding solutions on pipelines offshore Brazil.

If current surging production levels continue, it might not be long before the US replaces Saudi Arabia as the world’s leading oil producer.

As water scarcity grows, a GE survey shows that most Americans strongly support ‘toilet to turf’ water reuse solutions.

Chesapeake has closed the sales of its Permian Basin assets to SWEPI LP, Chevron, and Enervest Ltd for a total of US$ 3.3 billion.

BP has agreed to sell its shareholdings in TNK-BP and will also acquire an additional shareholding in Rosneft.

As part of an ongoing lawsuit between Chevron and plaintiffs from various Amazonian villages, an Ecuadorian court has ordered the seizure of approximately US$ 200 million worth of company assets.

Poland’s Prime Minister, Donald Tusk, has announced plans to tax oil and gas companies at roughly 40% of their profits as the government begins to outline what it hopes will be seen as an investment-friendly regulatory framework.