SK Innovation announced on 21 February 2018 that it made oil discovery in the PRMB block 17/03 in the South China Sea.
Fugro has been awarded a contract by Guangzhou Marine Geological Survey (GMGS) for gas hydrate investigation on the Northern Continental Slope of the South China Sea. The contract is valued at approximately US$40 million and the project is expected to commence in the second quarter of 2018.
This significant find marks the first documented occurrence of ‘live’, or flowing, oil from onshore Jamaica and will be of particular interest to oil explorationists focused on Central America and the Caribbean.
Aker BP is about to complete drilling of the Frosk exploration well 24/9-12 located near Alvheim in the North Sea. The well has proved oil. Preliminary analysis indicate a discovery size of 30 - 60 million boe, which is significantly more than the company’s pre-drill estimates of 3 - 21 million boe.
PAO NOVATEK (NOVATEK) won the open auction to acquire a 100% stake in Maretiom Investments Limited and 100% of Velarion Investments Limited from ALROSA.
Recent developments bring new capabilities within each individual solution while offering increasingly integrated workflows from geology and geophysics to reservoir engineering.
The blocks were awarded to the consortium of Total (operator, 40%), ENI (40%) and Novatek (20%) in the frame of the 1st offshore licensing round, launched by the Lebanese government in January 2017.
Exxon Mobil Corporation has announced it has added 2.7 billion boe of proved oil and gas reserves in 2017, replacing 183% of production. ExxonMobil's proved reserves totaled 21.2 billion boe at year-end 2017. Liquids represented 57% of the reserves, up from 53% in 2016. ExxonMobil’s reserves life at current production rates is 14 years.
The Norwegian Petroleum Directorate (NPD) has granted Statoil Petroleum AS a drilling permit for well 16/1-29 S, cf. Section 15 of the Resource Management Regulations.