Exploration news

Exploratory drilling has begun at the Shirotno-Rakushechnaya prospect structure, located to the north of the V.I. Grayfer field in the North Caspian Sea.

Spirit Energy has received permission to drill a wildcat well in production licence 780, about 5 km north of the Ivar Aasen field in the central part of the North Sea.

High exploration and production costs in China are undoubtedly driving the companies to take preventive measures by slashing planned investments and cutting operational expenditures.

The pre-defined areas include blocks in the North Sea, Norwegian Sea and Barents Sea.

The announcement comes a day after Petrolia, a partner in the programme along with Concedo and Idemitsu Petroleum, had said that drilling would start by 19 June.

Rystad Energy has released its annual global energy outlook, which claims that the Covid-19 downturn will expedite peak oil demand.

Wells 35/11-24 S and A will be drilled from the West Hercules drilling facility.

The Australian Petroleum Production and Exploration Association has said the legislation passed on Tuesday this week was a step in the right direction to help ensure that Victoria has ongoing secure supplies of natural gas.

The project is in support of the country's ongoing licence round, expected to close in the first half of 2021.

The company has said that is expecting the potential award of a marginal field to happen within 6 months of submitting a bid.