Exploration news

Initial development of Unit 1B formally approved and on track for 1Q25. Export of initial oil cargo on track for end of 2024.

Equinor, alongside its partners, has made an oil and gas discovery at the Gudrun field in the North Sea. 

Planning consent has been received from North Lincolnshire Council for the further development of the Wressle well site.

Testing of the well yielded an absolute open flow natural gas production rate of 430 000 m³/d.

Newly released Recoverable Abandonment Frame technology could reduce abandonment costs by £20 million per well and cut project timelines by 50%.

INPEX CORPORATION has announced that its subsidiary INPEX Browse E&P Pty Ltd (INPEX Browse) was awarded an exploration permit over release area AC22-1, now named AC/P71 (the Block) in Australia’s 2022 offshore petroleum exploration acreage release. INPEX Browse will be Operator and hold 100% working interest in the title.

Removing the ban on petroleum exploration beyond onshore Taranaki is part of a suite of proposed amendments to the Crown Minerals Act to deal with the energy security challenges posed by rapidly declining natural gas reserves, Resources Minister Shane Jones says.

QatarEnergy has signed a farm-in agreement with ExxonMobil to acquire a 40% participating interest in two exploration blocks offshore Egypt.

The company has been awarded three well services contracts in Malaysia, marking a significant milestone in the company's position in the Asia Pacific region.

Hibiscus Petroleum Berhad has announced that its wholly-owned subsidiary, Hibiscus Oil & Gas Malaysia as the operator of the PM3 commercial arrangement area production sharing contract, has successfully completed the drilling of the Bunga Aster-1 exploration well.