Archive for the ‘Reserves’ Category
India seeks more oil, gas license appeal
February 19th, 2019 by Latest News
Seeking to increase exploration and production, India’s Union Cabinet has approved a new round of changes in oil and gas licensing and regulation. “Considering stagnant/declining domestic production of oil and gas, rise in import dependence, and declin…
Croatia has opened a licensing round for oil and gas exploration in its central and southern regions with the bid deadline being Sept. 10. Licenses are tentatively scheduled to be announced in December, a spokesman with the Croatia Hydrocarbon Agency (…
India opens third open-acreage bid round
February 11th, 2019 by Latest News
India has launched the third bid round under its Open Acreage Licensing Policy, offering 23 onshore and offshore blocks covering more than 31,000 sq km for exploration. Dharmendra Pradhan, minister of petroleum and natural gas, announced OALP-3 at the …
BLM reports record-breaking onshore oil, gas lease revenue in 2018
February 7th, 2019 by Latest News
US Bureau of Land Management state offices generated more than $1.1 billion of revenue from onshore oil and gas lease sales during 2018, a record amount nearly triple the previous record of $408 million for the comparable period in 2008, Acting Interio…
Total SA reported a natural gas-condensate discovery on Block 11B/12B in the Outeniqua basin, 175 km offshore southern South Africa. The Brulpadda well encountered 57 m of net gas-condensate pay in Lower Cretaceous reservoirs.
WoodMac: Exploration is ‘back in the black’
February 4th, 2019 by Latest News
After a difficult few years, the exploration business is back in the black—and keen to stay there. New analysis from Wood Mackenzie shows that exploration companies’ successes in 2018 reflect a disciplined approach that’s set to continue this year.
Oxy awarded onshore Block 3 in Abu Dhabi
February 4th, 2019 by Latest News
Occidental Petroleum Corp. will invest $244 million, including a participation fee, in exploration of onshore Block 3 in Abu Dhabi. Abu Dhabi National Oil Co. awarded the 5,782-sq-km block as part of its competitive bidding round launched in April…
Driven by its large investment in Guyana, ExxonMobil Corp. is leader of the pack among the top oil and gas explorers of 2018, according to Rystad Energy’s annual exploration review. “ExxonMobil was exceptional, both in terms of discovered volumes and v…
CNOOC Petroleum Europe has discovered natural gas and condensate pay in the Glengorm prospect in the Central Graben area of the UK central North Sea. Drilled to 5,056 m TD in 86 m of water, the exploration well encountered net gas and condensate pay wi…
Lukoil’s fourth Eridu well confirms model
January 24th, 2019 by Latest News
Lukoil said testing of its fourth well in Eridu oil field on Block 10 in southern Iraq confirmed the geologic model. The discovery well, Eridu 1, flowed on test during early 2017 at more than 8,000 b/d of oil from the Middle Cretaceous Mishrif formation.