TGS finalises acquisition of Spectrum
Completion of the acquisition and the merger plan has been registered with the Norwegian Register of Business Enterprises.
Browse the latest exploration news news and articles.
Completion of the acquisition and the merger plan has been registered with the Norwegian Register of Business Enterprises.
The well encountered 55 m of net oil pay which supports a recoverable oil resource estimate which exceeds Tullow’s pre-drill forecast.
The Barryroe oil accumulation lies in approximately 100 m water depth in the North Celtic Sea Basin and is located approximately 50 km off the south coast of Ireland.
The 100%-owned licence includes the company’s flagship Inishkea prospect.
The awarded licences were granted for Block D, located 45 km off the Israeli coast.
The agreement covers Block 77 in central Oman, with each company holding a 50% interest.
iSEISMIC plans to use ION’s 4Sea ocean bottom acquisition and imaging technology for seabed surveys.
11 wells were drilled and four discoveries made by the company in 1H19.
Experts predict that 2019 and beyond will see deep offshore exploration and mega gas finds in Africa.
The company's IFRS figures for 2Q19 were: revenue at US$607 million, OPINC at US$71 million, net income at US$(128) million.
The discovery in the main reservoir is currently estimated to contain between 5 and 25 million bbl of oil in-place. It has not yet been concluded if the discovered oil is commercial.
The exploration well, located in block 114, Song Hong Basin, offshore Vietnam, has proven the presence of gas and condensate in the Ken Bau prospect.