DNO had two exploration targets: a deeper prospect (Falstaff), where no reservoir was encountered and a shallower prospect (Othello), where a 16-metre net oil-bearing reservoir was encountered. Preliminary estimates indicate that gross recoverable resources could lie in the 27 million-57 million boe range.
The deal will see Qatar supply 3 million tonnes per year (tpy) of LNG, commencing in January. The duration was not specified.
The company will invest USD 28.5 million in the plant, which will have an output of 800 tonnes of green hydrogen a year, placing it among South America’s largest such facilities.
PetroTal’s technical team has already identified numerous synergies between the Block 131 assets and our existing operations at Block 95. Similar to the strategy we have already successfully employed at Bretaña, we plan to apply modern drilling techniques at the Los Angeles field, which has significant unutilized facility capacity. We are currently finalizing our development plan for the assets and look forward to providing more details at the appropriate time.
The African Energy Chamber (AEC) – serving as the voice of the African energy sector – commends the proactive approach by Springfield E&P to unlock new oil and gas assets in Ghana. The company has shown a strong commitment to bringing new fields online and will play an important part in driving oil and gas production in the country.
Emirati state-owned renewables giant Masdar has completed the acquisition of 70% of the outstanding shares of Greek renewable energy company Terna Energy, Masdar announced on Thursday.
President-elect Trump has vowed to impose a 25% tariff on all goods arriving from Canada and Mexico, a move he says is meant to address concerns over illegal immigration and drug smuggling.
Latin America-focused E&P player Geopark will acquire Repsol’s upstream oil and gas assets in Colombia for USD 530 million, the companies said on Friday. Under the sale and purchase agreement, Geopark will acquire assets in the prolific Llanos Basin, one of Colombia’s most productive oil regions – an area where the company has established upstream […]
Offshore oil is back in a big way. After years of costly offshore oil contacts being put on ice due to lower-than-ideal oil prices and uncertain future demand, these projects have been roaring back to life around the world. But the future of the sector remains uncertain as a looming oil glut may be scaring off would-be investors.
OPEC+ has been withholding 2.2 million barrels of oil supply daily for well over a year now—and it might have to start thinking about these cuts as a long-term policy. The market just keeps refusing to respond to them as OPEC+ wants.