Petrobras has commenced the bidding process for the acquisition of a new FPSO for the Búzios field, in the Santos Basin pre-salt area, offshore Brazil, source said. Called P-80, the FPSO will be the ninth unit to operate in the field, with the capacity to process 225 thousand barrels of oil and 12 million cubic […]

A jack-up drilling rig owned by Malaysia’s Velesto Energy, and working for ConocoPhillips, off the Malaysian state of Sarawak, has sunk our source reported. According to the source, the jack-up rig Naga (dragon) 7 started to sink after it apparently “punched through” the seabed. “What I understand by this is that when it started testing […]

Verizon Communications Inc. is exploring a sale of assets including Yahoo and AOL, as the telecommunications giant looks to exit an expensive and unsuccessful bet on digital media. The sales process, which includes private-equity firm Apollo Global Management Inc.,  could lead to a deal worth $4 billion to $5 billion, according to people familiar with the matter—assuming there […]

Nigeria gas flaring is still going unabated despite unalloyed effort and commitment by the present government in creating enabling environment for oil and gas companies to invest in the recent gas code master plan unveiled by the Mohammadu Buhari led administration. According to the data made available by National Oil Spill Detection and Response Agency […]

On 19 January 2021 the FAR group executed a Sale and Purchase Agreement with Woodside in relation to the sale. As consideration for the sale (the “Transaction”), Woodside has agreed to pay FAR US$45 million and will reimburse FAR’s share of working capital for the RSSD Project from 1 January 2020 of US$82.02 million, totalling […]

FAR has said that the company is in progressing as in continuation of interpretation of the Davros Extension multiclient 3D survey, which has provided additional insight on the prospectivity of the block. The according to the company as released in its first quarter 2021 0perational update , Further detailed analysis is ongoing as  gradual easing […]

First Quarter 2021 Results and Management Perspectives Cash flow from operating activities of $9.3 billion fully funded dividend and capital expenditures, and drove debt reduction of over $4 billion Lowered cash operating expenses versus the first and fourth quarters of 2020; on pace to deliver additional structural cost savings Advanced several initiatives to reduce emissions […]

Lundin Energy a Norwegian Oil and gas firm is working with Swedish wave energy tech developer Ocean Harvesting Technologies on decarburizing extraction and production activities. The companies have launched a new R&D study on how installation of wave energy converters could potentially provide clean, stable and cost-effective electricity to an offshore oil and gas platform. […]

KrisEnergy Ltd together with its subsidiaries, an independent upstream oil and gas company, refers to its announcement dated 31 March 2021 in relation to the production performance of the KrisEnergy-operated Apsara oil development.  The Company has received the update on the independent review of the Apsara field’s performance by third-party petroleum engineering consultant, Netherland, Sewell […]

Final depth-imaged data, now ready for viewing, covers Angola 2021 offshore licensing opportunities. Eight thousand three hundred square kilometers (8 300 sq. km) of GeoStreamer data is available for Blocks 6, 7 and 8 and the surrounding areas of the Kwanza Shelf. This latest dataset is highly relevant for those evaluating opportunities in the Angola […]