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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 […]

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 […]

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 […]

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 […]

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 […]

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 […]

Wood, an oilfield services provider, secured two new contracts for onshore and offshore facilities in Norway from Equinor, Norwegian oil giant. For more than 2 decades, the contract essentially continues his track record in delivery engineering and technical service to Equinor both locally and globally, Wood stated. The contract was awarded following concept study work […]

Equinor, a Norwegian oil giant plans to extend the life of offshore platforms with a number of more than 20 in Norway. On Thursday, the company said that authorities had given their approval for the life extension of 8 installations on the Norwegian continental shelf (NCS) for the past 3 years. The company added that […]

Equinor with its partners, Ineos E&P and Faroe Petroleum have discovered oil and gas from the Snadd Outer Outer/Black Vulture exploration well in the Norwegian Sea. Snadd Outer Outer is the well’s first target found to contain gas. The second target, Black Vulture, discovered oil upon further drilling. Equinor said that there was a total […]