Faroe boosts spending plans for year by £20m
Faroe Petroleum said yesterday it was spending about £170million this year, which is £20million more than the company had indicated previously.
recoverable oil
Elgin-Franklin restart to help lift BG’s UK output this year
Energy firm BG Group said yesterday it expected the restart of production at the Elgin-Franklin field to contribute to a stronger 2013 in the North Sea.
ExxonMobil sanctions Hebron field
The Hebron field development offshore Newfoundland and Labrador in the Canadian North Atlantic has been sanctioned by operator ExxonMobil and co-venturers in the project.
Oil flows on Garantiana
Total has found an estimated 25-75million barrels of oil on a Norwegian exploration well, a firm with a stake in the discovery said today.
Technology needed to keep North Sea viable
If new technology is not developed fast enough the life of the North Sea oil and gas industry could be shortened, a leading boss warned yesterday.
£968m BP oil project on hold
Oil giant BP said yesterday it had indefinitely suspended its £968million Liberty offshore oil project in Alaska because of cost overruns and technical setbacks.
Barryroe commercially viable, says Providence
Oil explorer Providence Resources said today it expected the Barryroe well off the Irish coast would be commercially viable.
Big turnaround for Argentina thanks to shale
Argentina's energy fortunes appear to have taken a turn for the better, with Repsol YPF claiming that 23billion barrels oil equivalent of shale-based hydrocarbons exist in the Vaca Muerta Basin.
Nexen upbeat over Golden Eagle’s future
There were positive updates yesterday on the development of two significant North Sea finds - Golden Eagle and Catcher.
Epi-V takes a stake in UK onshore hydrocarbons
BOUTIQUE upstream venture capital fund Epi-V is moving into hydrocarbons exploration and production after committing to invest £10million to appraise two existing onshore gas discoveries in northern England.
Rockhopper ups estimates for Falklands oil reserves
ROCKHOPPER Exploration, the South Atlantic oil and gas explorer, said yesterday it had increased its estimates of recoverable reserves in two licences in the North Falklands Basin from 1.2billion to 1.8billion barrels of oil.
USGS signals Arctic bonanza
Vast petroleum reserves lie north of the Arctic Circle, according to the US Geological Survey - more than 400billion barrels oil equivalent of potentially recoverable oil, natural gas and liquids. And most of it seems to lie offshore.
Oil and gas bonanza lies north of Arctic Circle
AROUND 90billion barrels of oil and a third of the world's undiscovered natural gas lie beneath an area north of the Arctic Circle, according to a new survey.