Industry

The Oil and Gas Authority (OGA) has offered for award 25 licences for 111 blocks or part blocks to 17 companies in the 29th Offshore Licensing Round to enable further exploration and production across frontier areas of the UK Continental Shelf (UKCS). The 29th Licensing Round was the first licensing round in two decades to focus solely on frontier, under-explored areas of the Rockall Basin, Mid-North Sea High, and part of the East Shetland Platform. It attracted applications from 24...

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Italian oil company Eni announced it had “successfully drilled” the Amoca-2 well in the shallow waters of Campeche Bay, offshore Mexico, confirming the presence of oil in multiple reservoirs. Amoca-2, located in the Contractual Area 1, 200km west of Ciudad del Carmen in 25 meters of water, is the first well drilled by an international oil major in Mexico since the 2013 Energy Reform. The well reached a total depth of approximately 3,500 meters and encountered approximately 110 meters...

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CGG has announced the creation of a new company with longstanding partner Eidesvik and its Nordic lenders that will establish a new ownership set-up for its operated fleet. In a statement CGG said the new company would take possession of the five vessels currently owned by CGG which were cold-stacked, Geo Coral, Geo Caribbean, Geo Celtic, CGG Alize and Oceanic Challenger, as well as the two vessels co-owned by CGG and Eidesvik, Oceanic Vega and Oceanic Sirius. The new company will be...

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Against the gloomy background of a looming gas famine and associated energy crisis in Australia, South Australia announced the recipients of the first round of PACE Gas Grants with five exploration and development projects to share in $24 million in State Government funding. Energy Minister Tom Koutsantonis said the grants would generate up to $174 million in new investment by oil and gas companies in local production projects. In a statement Mr Koutsantonis said gas extracted through the...

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SNE Oilfield Operator Cairn Energy has announced a timetable for the development of the offshore oilfield that encompasses development concept selection this year and first oil between 2021 and 2023. Cairn, with a 40% working interest in three blocks offshore Senegal (Sangomar Deep, Sangomar Offshore, Rufisque Offshore) counts Australian independent Woodside (35%), Melbourne-based exploration junior Far Ltd (15%) and the Senegal National Oil Company, Petrosen (10%) as its JV partners. In...

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SUPERMAOR ExxonMobil has signed a sale and purchase agreement with Eni to acquire a 25% indirect interest in the natural gas rich Area 4 block, offshore Mozambique. In a joint statement the two companies said terms included a cash price of approximately US$2.8 billion and that the acquisition would be completed on a number of condition precedents being met, notably clearance from Mozambican and other regulatory authorities. Eni holds a 50% indirect share in the block via a 71.4% stake in...

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Australian listed oil and gas exploration, development and production company, Po Valley Energy Ltd (ASX: PVE), which has energy assets in northern Italy, has been granted the large onshore Torre del Moro oil exploration licence, located southeast of Bologna, in the eastern Po Valley region of Italy. Po Valley said the licence covers an area of 111km2 and contains a large, attractive oil exploration target. The licence has a six year initial exploration period. Its main exploration play is...

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