Oil & gas news
Oil falls as chance of OPEC+ agreement wanes
Oil prices fall as enthusiasm for a possible OPEC+ agreement to continue June’s production cuts for more months subsides.
Empyrean given further 12 months for exploration drilling offshore China
The first phase of the exploration period at block 29/11 has been extended to 12 June 2022.
Cluff Natural Resources and Shell committed to drilling North Sea prospects
Exploration drilling is anticipated to commence at the Pensacola gas prospect in 2H21 and in 2022 at the Selene gas prospect.
Gazprom and RusGazDobycha reach FID on Semakovskoye gas field
The Semakovskoye field in the Yamal-Nenets Autonomous Area has recoverable gas reserves in excess of 320 billion m3.
KrisEnergy suspends production at Wassana oilfield
KrisEnergy has attributed the suspension to the economic uncertainty generated by the Covid-19 pandemic and the current state of oil prices.
United Oil & Gas PLC El Salmiya-5 Well Results
El Salmiyah-5 was spudded on 3 February 2020, and reached total depth of 4400 m MD on 17 April 2020.
Siemens to supply equipment for large-scale gas field development offshore Malaysia
Siemens Gas and Power is to supply three SGT-300 industrial gas turbine generators (GTG), three mechanical-drive SGT-300 gas turbines and three DATUM centrifugal compressors.
Oil rises in response to OPEC+ meeting rumours
Oil prices got a boost this morning on rumours that the coming OPEC+ meeting may keep high-level production cuts after June.
Oxford Flow secures new investment to accelerate oil and gas product deployment
The funding has been secured from eight parties, including Oxford Sciences Innovation (OSI), Parkwalk, Oxford Investment Consultants, the University of Oxford and GF Piping Systems.
Rystad Energy: reserves of global oil and gas assets for sale above 12.5 billion boe
Oil and gas companies currently have assets for sale with recoverable reserves of more than 5 billion bbl of liquids and 7.5 billion boe of natural gas, Rystad Energy estimates.