Exploration news

As Total and CNOOC develop billions of barrels of proven oil reserves near Lake Albert, the Ugandan government is committed to attracting more investment into the development of its hydrocarbons potential through the Second Licensing Round.

The plan released by the Interior Department’s Bureau of Land Management revokes an Obama-era management system for a huge swathe of federal land on the western North Slope, the National Petroleum Reserve in Alaska.

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.