Germany faces tough call on drilling in protected North Sea marine zone
Germany will scrutinize an application to drill for natural gas at a protected marine site after explorer One-Dyas BV cleared a key hurdle with local authorities.
E&P
Fyne news: Oil field project hits key regulatory milestone
The Fyne oil field, which is being developed by Rapid Oil, Ping Petroleum and Hibiscus Petroleum, has moved from the assessment phase into the authorisation phase.
Eni extends Cronos find, fuelling fast-track plans
Eni has reported success at the Cronos-2 well offshore Cyprus, noting “excellent gas deliverability capacity” at the find.
Var Energi: Norway independent struck by half-billion dollar Balder write-down
Costs linked to the upcoming Balder development cut down profits at Var Energi (OSLO: VAR), Norway’s second-largest independent operator.
Russia enforces sale of OMV, Wintershall assets
OMV noted the presidential decree but said that it had written down the value of its Russian assets. As such, it expects no further impact as a result of the move.
Longboat JAPEX farms down pair of exploration targets
Longboat JAPEX has announced a farm-down of two exploration targets in Norway to Concedo AS.
Greta Thunberg returns to protests at JP Morgan, Barclays
Greta Thunberg, who was arrested on Tuesday outside the Energy Intelligence Forum, participated in the blockade of JP Morgan this morning.
Equinor’s Johan Castberg sees cost surge by nearly £1bn
Meanwhile Var Energi, a partner on Johan Castberg, has also seen costs surge on its Balder X project.
Zenith dips out of Yemen and into Kazakhstan
Slightly more than three hours later, Zenith announced the signing of a memorandum of understanding for an asset in Kazakhstan.
Italian contractor Saipem wins $550m rig contracts
Saipem (BIT: SPM) has been awarded a pair of offshore drilling contracts worth a total of $550 million.
OMV, Romgaz approve major Romanian gas plan
"Starting with 2027, we will have a new natural gas source with potential to significantly increase the country's natural gas production, thus securing safety of supply.”
Time to light Beacon Energy
“Indigenous supply gives the opportunity for the lowest carbon footprint. We are operating in one of the highest regulated environments in the world,” the CEO said. Rhein trucks the oil to a local refinery, which Bottomley described as the “best possible” way in which to lower carbon.
Norway well-slot: Spuds, duds and discoveries
As of 24 February, Westwood Global Energy reports that there are five exploration wells active, with four in the North Sea and one in the Barents Sea
Norway dishes out dozens of oil and gas licences
Norway has handed out nearly 50 oil and gas exploration licences in a “gratifying” display of interest in the sector.
UK oil lobby warns financing may dry up after windfall tax
“Unless these are addressed, some companies will face an up-to 50% cut in their reserves-based lending capacity as facilities are reviewed over time by banks.”
OKEA takes stake in DNO’s Brasse discovery
In 2020, DNO took a £69 million charge on the value of Brasse, even while maintaining that the field was still commercial.
Norway well-slot: Lupa discovery for Var Energi
As of 19 December, Westwood Global Energy reports that there are three exploration wells active, with one in the Barents Sea, one in the Norwegian Sea, and one in the North Sea. One exploration well is suspended.
Gazprom starts up ex-BP gas field with exports to China
President Putin said Kovykta and Chayandinskoye could produce 50 bcm per year.
Eni scores gas god off Cyprus
The Italian company said it would incorporate the well results into its evaluation of the area. Eni has its eye on a fast-track development in Block 6, it said.
Equinor to press ahead with £385m Verdande oilfield
Equinor has submitted plans to press ahead with the £385m Verdande oilfield in Norway.
Novatek dodges bond default through shift to ruble payments
Novatek noteholders have agreed to change the terms of a $1 billion Eurobond, letting the Russian company pay in rubles instead of US dollars.
Well-slot: Two active exploration wells in Norway
As of 27 October, Westwood Global Energy reports that there are two exploration wells active, one in the Northern North Sea and one in the Norwegian Sea. Since the previous report, one exploration well program has completed.
Gas finds helped deliver East Med deal, but inflation is looming
The drive to secure additional energy supplies in the East Mediterranean was a rare case of hydrocarbons aiding, rather than hindering, a political agreement, Energean head Mathios Rigas said this morning.
Al Cook trades up oil for diamonds as he leaves Equinor for De Beers
Al Cook is trading up oil exploration with Equinor for hunting for diamonds in Africa with De Beers.
Well-slot: One-in-four hit rate for Norway exploration
As of 26 September, Westwood Global Energy reports that there are two exploration wells active, one in the Northern North Sea and one in the Norwegian Sea.