Exploration news

BGS Group hosts the Exploration and Production Offshore Congress Hub in March 5 - 6, 2018 in Rome, Italy.

Petroleum Commissioner visits site.

ExxonMobil affiliate Esso Exploration and Production Guyana Ltd. began drilling the Ranger-1 well on Nov. 5, 2017 and encountered approximately 230 ft (70 m) of high-quality, oil-bearing carbonate reservoir.

On 4 January, the Trump administration proposed to make nearly all offshore areas in the United States available for oil and gas exploration drilling.

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.