Notified by the UK Oil and Gas Authority, Australian-based Talon Petroleum has successfully joined a joint bid alongside with Netherlands-based partner ONE-Dyas. This was for a license over Block 1430b via the UK 31st Supplementary Offshore Licensing Round. The license contains the Thelma Prospect, a Burns Sandstone stratigraphic trap and a 29mmbo (gross best estimate)...Continue Reading

Aker BP, a Norwegian oil exploration & development company struck an oil column in the primary exploration target of 28 metres in sand layers at the wildcat well 25/2-21. (Liatårnet) The discovery made by Aker BP, operator of production license 442 in the North Sea had good reservoir quality. The 9th exploration well in production...Continue Reading

It is expected that Premier oil is to receive official clearance for the development of two North Sea oil fields in the next few months. This happened due to their strong performance in the area that helped generate USD180 million cash in the first half. The London-based company has achieved an increase in their average...Continue Reading

Hibiscus Petroleum Bhd, an independent oil and gas exploration and production (E&P) has acquired oil and gas rights offshore of the United Kingdom’s sector in the North Sea, worth USD5 million. Hibiscus mentioned that its indirect wholly-owned subsidiary, Anasuria HIbiscus UK Ltd, has entered a conditional non-binding term sheet during a filing with Bursa Malaysia...Continue Reading

For repairs on one of the 3 processing units, Ineos, the operator of the main UK North Sea crude oil transport route is progressively reducing to 150,000 bpd flow on the Forties Pipeline System, said on Monday. A key transit route for North Sea oil, the Forties pipeline and the Forties crude blend is the...Continue Reading

For the first time in a week, oil fell due to the slowing global economy that took more prominence over geopolitical tensions. With this happening, investors are waiting for clues on the Federal Reserve’s rate-cut path. Despite Futures in New York losing 0.3%, it declined as much as 0.6% on Monday. The Fed Chairman, Jerome...Continue Reading

Tata Steel secured a contract in providing High Frequency Induction (HFI) line pipe for an oil and gas project north-east of Shetland in the UK North Sea. More than 10km of HFI pipeline from its 20-in mill will be manufactured from the company. The contract duration lasts for 28 weeks where the work scope involves...Continue Reading

Shares have increased up to 6% for Wood after the engineering giant highlighted that it was well on its path to achieve strong earnings growth with the recovery of oil and gas markets. Since late 2016, there has been further evidence of crude price rise as told in an update from Aberdeen-based Wood. This has...Continue Reading