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Exploration news

 

Fugro returns to China for gas hydrate research project in further GMGS contract

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.

 
 

Aker BP announce exploration success in PL340 near Alvheim

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.

 

NOVATEK wins bid for the gas assets of ALROSA

PAO NOVATEK (NOVATEK) won the open auction to acquire a 100% stake in Maretiom Investments Limited and 100% of Velarion Investments Limited from ALROSA.

 
 

Total enters two exploration blocks offshore Lebanon

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.

 

ExxonMobil adds 2.7 billion barrels to reserves

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.