Upstream news

Zion Oil & Gas, Inc. announces that during the current open hole wireline logging and subsequent reaming (cleaning the well bore) operations, Zion encountered free-flowing hydrocarbons while circulating drilling mud.

TAG Oil Ltd., reports its third quarter results for the interim period ending 31 December 2017, highlighted by a 6% increase in revenues and a 40% increase in operating netbacks from the previous quarter.

A selection of Scotland’s leading oil and gas research and development institutions will be heading to China next month (5 - 10 March) to strengthen ties, share knowledge and increase business opportunities with leading innovation houses in Beijing.

Shallow water projects will be responsible for over 92% of upstream CAPEX.

A key project milestone has been achieved, with completion of buoy 'dry' trial fit testing operations by Bluewater Energy Services BV and Dubai Drydocks World, LLC.

Statoil announced 27 October 2017 dividend per share of US$0.2201 for third quarter 2017.

The project represents the first offshore application for the SGT-750 gas turbine. Equipment delivery is anticipated mid-2019 with first oil planned for 2022.

Production optimisation software now available for gas-lift and ESP systems.

TAG Oil Ltd. has provided a positive update on its Pukatea-1 exploration well, which was spudded on January 24, 2018. The Pukatea-1 well is located in TAG Oil’s operated Puka permit (PEP 51135, 70% TAG Oil) in the Taranaki Basin of New Zealand.

DEA Deutsche Erdoel AG announces a significant increase of production from its oil fields in the Gulf of Suez and from the Disouq gas fields in the Onshore Nile Delta. The next phase of the West Nile Delta (WND) development is intended to contribute to the company's target. DEA plans to invest about US$500 million in Egypt during the coming three years.