Oil & gas news

The discovery was made in the Karabagh oilfield 120 km offshore.

The fall in oil and gas prices and the impact of the coronavirus has led to the industry body to call for government support.

The oil price is soon expected to slide even lower once the extra supply becomes available from April.

Varel will use the investment from Blue Water Energy to drive growth in the medium-term.

Express Engineering's subsea engineering assembly and test centre is due to come onstream in late 2020.

The contract will last until 2023.

The discovery was made at the Schwegenheim exploration well in the Rhine Valley.

Unity will maintain wellhead equipment across twelve platforms in the East Irish Sea, Southern North Sea and the Dutch sector of the North Sea.

Rystad expect the month of April to take the biggest hit, with demand for oil falling by as much as 11 million bpd y/y.

The results of work undertaken by Egdon Resources show the project has an estimated break-even oil price of US$17.62/bbl.