Latest News

  • Italy
    Permit C.R149.NP
    24 Jul 2014 - Northern Petroleum has been awarded the block in the Sicily Channel to encompass an extension of the Vesta Prospect in its adjacent block C.R146.NP.
  • Nigeria
    Field Ororo
    23 Jul 2014 - Expected revenues from initial production of 2000 bopd from the first well will be used to develop a 2nd well, adjacent to the Ororo ST-1 well. The tot field development includes the proposed drilling of 3 wells.
  • Kazakhstan
    Permit Block 31
    23 Jul 2014 - Approved preliminary C1+C2 reserves for Akkar East are 37Mb, tot approved preliminary C1+C2 reserves on the permit area currently stand at 64Mb.
  • Norway
    Permit Block 2/9 - PL 494C
    23 Jul 2014 - The jack-up Maersk Giant has spudded 2/9-5S explo well the Heimdalshoe Prospect on 22 Jul 2014. It is expected to take between 60-125 days, contingent on a discovery, & will target HC potential in primary Upper Jurassic target with PTD of up to 3542m.
  • *International
    Acquisition / Merger ? / Teras Australia (Ezion Holdings)
    23 Jul 2014 - AusGroup has signed an agreement to buy 100% of the issued and paid up share capital of Ezion Offshore Logistics Hub & 90% of Teras Australia for an aggregate $44.4M. The sale is still subject to certain regulatory conditions and AusGroup carrying out due diligence and gaining shareholder approval for the deal.
  • Brazil
    Lease Sales *Lease Sales
    23 Jul 2014 - A Brazilian court blocked a bid by Eni to force the govt to honour its 2006 winning bid in an auction for offshore exploration rights that was later cancelled. The auction was suspended and finally cancelled after the discovery of giant offshore reserves in the subsalt, S of Rio de Janeiro and near the block for which Eni had made the highest bid. Eni bid $142.3M for the area, nearly double the next highest bid from Petrobras.
  • Colombia
    Lease Sales *Lease Sales
    23 Jul 2014 - Colombia drew bids for fewer than one third of the blocks it offered at its 2014 oil round on 23 Jul 2014. Shell, ExxonMobil, Anadarko & Repsol were among the biggest of 19 companies that bid for 26 of 95 blocks. Officials estimated that 40% of the blocks would be auctioned off, & some participants expressed surprise that there was not more interest in offshore blocks or high risk high-reward areas for which little research exists.
  • *International
    Alliance / Partnership Arctic Research and Design Center
    23 Jul 2014 - Rosneft studying the marine ecosystem to get a better understanding of the potential impact of offshore exploration as it readies for operations in the arctic with ExxonMobil. The objective of the said studies is collection of data on marine fauna in its license areas with a view to building a complete and detailed picture of the baseline environment state.