The UK has enough oil reserves to sustain production for the next 20 years and beyond, new figures indicate.A report published by the UK Government suggests that the overall remaining recoverable reserves and resources in the North Sea range from 10 to 20 billion barrels plus of oil equivalent…
The U.K.’s oil and gas reserves remain at a level which could sustain production for at least the next 20 years and beyond if additional undeveloped resources can be matured, according to the U.K. Oil and Gas Authority (OGA).OGA’s ‘UK Oil and Gas: Reserves and Resources’ report…
Island nation Madagascar puts 44 blocks in the Morondava Basin up for grabs, detailing exploration and exploitation periods under production sharing contracts.In the framework of the development of Madagascar's oil and gas potential, the Malagasy…
Steven W. Green has been named president of Chevron North America Exploration and Production, succeeding Jeff Shellebarger, who is retiring from Chevron after 38 years of service.Green will transition from his current role as president of Chevron…
Oil and gas exploration and production company Kosmos Energy said that it has entered into a strategic alliance with Shell Exploration Company B.V. to jointly explore in Southern West Africa.Initially, the alliance will focus on Namibia, where…
The future of oil and gas exploration in Australia looks bright after new offshore petroleum exploration permits were awarded by the Government that could see more than $530 million invested over the next six years.Minister for Resources and…
Houston based E&P company ConocoPhillips announced it has realigned its executive leadership team following news that its executive vice president, Production, Drilling and Projects Al Hirshberg will retire.Effective January 1, 2019, Matt Fox…
Portugal's Galp Energia and its Italian partner ENI have abandoned plans to drill Portugal's first deep-water offshore exploration well due to legal problems after injunctions and protests by environmental activists.The project was being prepared…
The oil and natural gas company Pan Orient Energy Corp announce that the L53-DD1 exploration well encountered an interpreted, combined 26 meters of net oil pay within three separate sandstone reservoirs between a true vertical depth of 960 to 1…
Italy's Eni has agreed to buy half of BP's 85 percent stake in a Libyan oil and gas licence with the aim of resuming exploration next year, the companies said on Monday.Eni will acquire the 42.5 percent stake and become the operator of the exploration…
Italy's ENI agreed to buy half of BP's 85 percent stake in a Libyan oil and gas licence with the aim of resuming exploration next year, the companies said on Monday.Eni will acquire the 42.5 percent stake from BP and become the operator of the…
Mexico will need to double to about $4 billion its annual oil exploration investment to reverse a 14-year decline in output, a move that will require more funding by Pemex and private producers, a top official with the state-run firm said Friday…
China will prudently advance cooperation with the Philippines on joint oil and gas exploration in the South China Sea, China's top diplomat State Councillor Wang Yi said on Wednesday after meeting his Philippine counterpart.Any potential deals…
The latest Australian Bureau of Statistics (ABS) exploration data confirms that the slump in petroleum exploration in Australia continues. “Yesterday, the ABS released data for 2017, confirming that exploration in Australia is stalled. Exploration expenditure is well below trend…
The Philippines on Friday identified two areas in South China Sea where joint exploration for oil and gas may be undertaken with China, including one in territory that both sides have argued over for years. The two countries have agreed…
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