Archive for the ‘Reserves’ Category
OVL tests second strike on Colombian block
January 24th, 2019 by Latest News
ONGC Videsh Ltd. (OVL) is testing an oil discovery on trend with its 2017 Mariposa-1 oil strike on Block CPO-5 in Colombia and plans further drilling. The operator reported earlier this month that it had logged 284 ft of gross oil pay in the Lower…
Ukraine to outline details of licensing rounds
January 24th, 2019 by Latest News
The Ukrainian government plans a series of licensing rounds for oil and natural gas blocks as the nation seeks to end its dependence on imported gas. International oil companies are being invited to participate in upcoming auctions and production-shari…
PGNiG SA will explore for and produce hydrocarbons in Ras Al Khaimah—the northernmost member of the United Arab Emirates—under a production-sharing agreement signed by PGNiG, the Ras Al Khaimah Petroleum Authority, and Rak Gas LLC.
Equinor has, together with partners ExxonMobil, Total, and Norway’s Petoro, made a natural gas and condensate discovery with the Ragnfrid North (6406/2-9 S) exploration well in the Norwegian Sea. The well, drilled in production license 199 about 20 km …
Saudi Arabia reported that it now holds 268.5 billion bbl of proved crude oil reserves—a figure higher than the previously reported 266.3 billion bbl. Saudi Arabia’s Energy Ministry also revised upward the country’s natural gas reserves to 325.1 tscf a…
BP PLC approved a $1.3-billion expansion at Atlantis field in the Gulf of Mexico and said recent seismic imaging identified 1 billion bbl of additional oil in place at Thunder Horse field. Elsewhere in the gulf, two discoveries near Na Kika platform pr…
Two blocks offered off Sable Island, NS
December 14th, 2018 by Latest News
Two blocks nominated by the oil and gas industry are on offer off Sable Island in the northern Atlantic. The Canada-Nova Scotia Offshore Petroleum Board will accept bids through May 8, 2019, for exploration licenses covering 75,788-hectare Parcel 1 and…
An oil discovery in the Afoxe exploration prospect offshore Angola is a further confirmation of the oil exploration potential still held in southern part of Block 15/06, previously considered mainly gas prone, operator Eni SPA said. The company plans t…
USGS identifies largest continuous oil, gas resource potential ever assessed
December 6th, 2018 by Latest News
The US Department of the Interior reported that the Wolfcamp shale and overlying Bone Spring formation in the Delaware basin portion of Texas and New Mexico’s Permian basin province contain an estimated mean of 46.3 billion bbl of oil, 281 tcf of natur…
DEA Deutsche Erdoel AG (DEA), Hamburg, has agreed to acquire Sierra Oil & Gas, Mexico City, giving it access to a portfolio of six exploration and appraisal blocks in Mexico, including the Zama discovery. With the agreement, DEA commits to particip…