More Oil & Gas Exploration and Development News

GlobalData: Kenya’s first commercial oil find could generate $10 billion

May 14, 2014

Kenya’s first commercial oil discovery in South Lokichar basin’s Block 10BB/13T could generate $10 billion in revenue over a 30-year production period based on regional geological characteristics and well test results, according to an analyst with research and consulting firm GlobalData.

Water concerns could limit US oil, gas development, speakers say

May 14, 2014

The oil and gas industry needs to respond more effectively to public concerns about safe water supplies if it expects to realize US unconventional resources’ full potential, speakers at Deloitte LLP’s 2014 Washington Energy Conference warned.

Central Petroleum starts development of Dingo gas field

May 13, 2014

Central Petroleum Ltd., Brisbane, has started development of its Dingo gas field in Amadeus basin in Northern Territory 65 km south of Alice Springs.

Romanian government expected to raise royalties in 2015

May 13, 2014

Romania’s current royalty rates range between 3.5% and 13% (averaging between 7% and 8%), and this number is likely to increase in 2015.

Statoil completes observation well in eastern Gimle field

May 12, 2014

Statoil Petroleum AS has completed drilling an observation well on the eastern flank of Gimle field, the Norwegian Petroleum Directorate reported.

Lundin plans further testing of appraisal well in Edvard Grieg field

May 12, 2014

Lundin Norway AS plans further testing of an appraisal well with results described as “encouraging” for reservoir quality in the southeastern part of Edvard Grieg oil field offshore Norway.

Policy vs. oil supply

May 12, 2014

A rough collision of oil supply and energy policy looms by implication in the US Energy Information Administration's Annual Energy Outlook.

Petrobras completes exploration well in TOR area of Santos basin

May 9, 2014

Brazil’s state-owned Petroleo Brasileiro SA (Petrobras) reported that it has completed drilling the last exploration well in the Transfer of Rights (TOR) area in the Santos basin presalt.

Associations raise concerns in Atlantic OCS G&G comments

May 8, 2014

The US Bureau of Ocean Energy Management’s preferred alternative for new geologic and geophysical (G&G) activity on the South and Mid-Atlantic Outer Continental Shelf contains arbitrary and unnecessary restrictions, three national oil and gas associations said on May 7.

Alaska receives 43 bids in Cook Inlet, peninsula lease sales

May 8, 2014

The Alaska Division of Oil & Gas reported receiving 43 bids from companies and investors hoping to secure state leases during the Cook Inlet and Alaska Peninsula oil and gas lease sales on May 7.

Study targets area off Australia, Indonesia

May 8, 2014

Petroleum Geo-Services said an international seismic study has improved understanding of regional stratigraphy and basin development in an area offshore eastern Indonesia and northern Australia.

OTC: Pemex preparing for cultural transition as Mexico reforms energy laws

May 6, 2014

Mexico’s Petroleos Mexicanos (Pemex) is preparing for a major cultural transition while the country’s government moves to implement energy reforms ending a 75-year monopoly on discovering and developing oil and gas, a Pemex executive told the Offshore Technology Conference on May 6.

OTC: Nova Scotia seeks bids in active eastern Canada offshore

May 6, 2014

Exploration and development remain brisk offshore eastern Canada, provincial officials reported May 6 at the Offshore Technology Conference in Houston.

Falcon farms out portion of Beetaloo basin permits

May 6, 2014

Falcon Oil & Gas Ltd., Dublin, has farmed out a portion of its exploration permits in the Beetaloo basin onshore Northern Territory to South Africa’s Sasol and Origin Energy of Sydney.

OTC: Ocean-bottom seismic improves resolution for offshore subsurface

May 5, 2014

Streamer technology is not new, however, it has gone through many advances within the last 30 years. In 1980, 120 channels were considered advanced for a typical streamer run when shooting offshore seismic. “Today, we see 10,000 channels towed behind a single boat,” said David Monk, director, geophysics and distinguished advisor, Apache Corp.

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