Tethys Oil’s share of the production, before government take, from Blocks 3&4 onshore the Sultanate of Oman amounted in February 2021 to 328,209 barrels of oil, corresponding to 11,722 barrels of oil per day. Oil production in Oman is currently subject to production limitations under the OPEC+ agreement. As a consequence, production from Blocks 3&4 […]

Offshore project commitments are expected to not only recover going forward, but their number is also set to reach a new record in the five-year period towards 2025, cumulatively almost 600 projects, a Rystad Energy report shows. Deepwater commitments will enjoy the largest growth as their cost has now become much more competitive against greenfield […]

Equinor has announced that the partners in the Åsgard licence have decided to invest just under NOK 1.4 billion to further develop the field and implement the Åsgard B low-pressure project. “We’re pleased that the Åsgard owners have given their go-ahead for the low-pressure project. The project will increase production from the current Smørbukk wells […]

Baker Hughes   and Akastor ASA have announced an agreement to create a joint venture company that will bring together Baker Hughes’ Subsea Drilling Systems (SDS) business with Akastor’s wholly owned subsidiary, MHWirth AS (MHWirth). The Company will deliver global full-service offshore drilling equipment offering that will provide customers with a broad portfolio of products and services. The […]

Masirah Oil has announced the spudding of Zakhera 1 well on 21 February 2021, which is being drilled by the Shelf Drilling Tenacious jack-up rig that has been moved from the Yumna Field, following the completion of the two new additional production wells, Yumna 2 and Yumna 3. The Zakhera prospect is located about 12 […]

NEO Energy and HitecVision have announced the signing of a transaction that puts NEO Energy among the top five oil and gas companies in the UK. NEO Energy is acquiring a major portfolio of non-operated oil and gas assets in the Central and Northern North Sea from ExxonMobil. Following completion, NEO’s expected proforma 2021 production […]

The exploration well Thameen-1 on Block 49 onshore the Sultanate of Oman has drilled to its final total depth and wireline logging operations have been completed. The well has encountered hydrocarbon shows in the primary target, the Hasirah Sandstone. The next step in evaluating the well is to commence a well testing programme in an […]

Wintershall Dea aleading independent gas and Oil Company has reported its fourth quarter and fiscal year 2020 results.  FULL-YEAR 2020 SUMMARY: Annual production of 623 mboe/d at the higher end of original guidance underpinned by solid operating performance and record production level in Q4 2020 of 654 mboe/d; Financial results impacted by low commodity prices […]

EnQuest an independent oil and gas production and development company listed on the London and Stockholm stock exchanges (ENQ.L and ENQ.ST), has announced the signing of an agreement with Anasuria Hibiscus UK Limited to farm-down an 85% working interest in, and transfer operatorship of, the Eagle discovery located in the UK North Sea. EnQuest will […]

Fourth-Quarter Highlights Reported production of 411,000 barrels of oil equivalent (BOE) per day; adjusted production, which excludes Egypt noncontrolling interest and tax barrels, was 365,000 BOE per day;  Delivered net cash from operating activities of $498 million and adjusted EBITDAX of $630 million; Exceeded fourth quarter adjusted production guidance; delivered upstream capital investment and LOE […]