Oil & gas news

Oil prices are losing ground again on indications that US crude oil inventories rose last week, maintaining the bearish price correction that September has introduced.

The review follows the suspension of major construction activities in March due to the COVID-19 pandemic and the company’s capital re-prioritisation following the global economic downturn.

Under the terms of the agreement, Shell will acquire Kosmos’ participating interest in blocks offshore São Tomé & Príncipe, Suriname, Namibia, and South Africa.

Redtail-1 encountered approximately 232 ft (70 m) of high quality oil bearing sandstone and was drilled in 6164 ft (1878 m) of water.

AWE Perth Pty Ltd, under the Mitsui E&P Australia brand, proposes to construct and operate a conventional gas facility about 16 km south-east of the Dongara-Port Denison town sites.

Noble Drilling Norway AS has been awarded a contract by Equinor for drilling three wells at the Valemon field.

The joint initiative will provide global access to Schlumberger’s exploration and production (E&P) cloud-based environment and cognitive applications by leveraging IBM’s hybrid cloud technology, built on the Red Hat OpenShift container platform.

The API has said the extension of the moratorium on the Eastern Gulf of Mexico (EGOM) and expanding it to the South Atlantic "is the wrong approach at the wrong time".

Analysis of the wells drilled at Martin Linge before the company took over concluded that several of the wells do not have the necessary barriers.

The well is located in the Fenja field in the Norwegian North Sea.