Exploration

The business intelligence group’s report reveals a 10 yr low in oil discoveries in Norway and anticipates a shift in focus in the UK to gas in 2018.

Joint venture (JV) project in the southern Delaware Basin expected to be completed by late March 2018.

Norway spent US$18 billion in 2017 on offshore developments, with the US and Mozambique also making significant contributions.

Based on a preliminary review of Q4 sales, Petroleum Geo-Services ASA (PGS) expects to report total multiclient revenues of approximately US$170 million in Q4 2017, which should result in a consolidated EBITDA in excess of US$100 million.

The seismic acquisition over Otakikpo is expected to commence in Q1 2018 to kick-off phase two development of Otakikpo. All relevant permits are currently being pursued prior to commencing mobilisation.

Polarcus has extended the agreement with TGS for an additional year.

The project will comprise acquisition of a 10 000 km 2D long-offset broadband multiclient seismic survey. Advanced new acquisition and imaging techniques will provide better illumination of complex subsalt structures.

Rystad Energy has concluded that 2017 was yet another record low year for discovered conventional volumes globally. Less than seven billion boe were discovered YTD.

The combined awards are valued at around US$60 million.

The Industry Technology Facilitator (ITF), in collaboration with Maersk Oil, Nexen, Shell, Siccar Point Energy, TechnipFMC and the Oil and Gas Technology Centre (OGTC), is leading a joint industry project (JIP) to investigate an alternative well foundation technology for subsea exploration and production wells.

The new licences provide further exploration potential around the Company’s Karish and Tanin development.

The company has secured significant industry prefunding and has been granted the environmental permit for a broadband 3D marine seismic project in Australia.

CGG Multi-Physics has announced completion of the acquisition, processing and interpretation of a multi-client airborne gravity and magnetic survey of approximately 38 000 line km over the Perdido Fold Belt.

ION has delivered a regional framework consisting of approximately 30 000 km of data over the Austral and Malvinas basins' relatively under-explored petroleum region.

As part of the Argentina’s Gas y Petróleo del Neuquén’s (GyP) 5th bidding round, Statoil has been awarded the Bajo del Toro Este exploration license as operator in the Neuquén basin.