Offshore oil production is expected to hit a peak in 2020 before joining the shale industry in a slump that could dramatically rewrite market supply predictions. A report by analysts at Sanford C. Bernstein & Co. sees projects in the Gulf of Mexico and off of South America significantly boosting...
Syria invites Russian oil companies to explore in the Eastern Mediterranean Sea. Syria’s parliament has approved contracts for oil exploration with two Russian companies in an effort to boost production hit by more than eight years of war and Western sanctions. Meanwhile, Lebanon is preparing for its first-ever maritime oil...
Exxonmobil is offering to build Israel a floating LNG gas-ship to export from the Leviathan gasfield and thus bypass Egypt's planned LNG export facility. An Exxonmobil representative told various financial media that the company is still considering its options. Other sources cautioned that it is entirely likely no agreement...
5 Сентября 2019, Пресс-релиз Эффективность «Газпром нефть» приступила к бурению скважин на одном из крупнейших нефтегазоконденсатных месторождений России — Чаяндинском. Активная фаза опытно-промышленной разработки начнется в IV квартале 2019 года. Чаяндинское нефтегазоконденсатное месторождение. Республика Саха (Якутия) «Газпром нефть» ведет освоение нефтяной оторочки Чаяндинского месторождения в рамках операторского договора с ООО...
The Hellenic (Greek) Hydrocarbon Resources Management (HHRM) department reports that seismic studies of Crete's offshore predict major reserves located to the south. ”The team of HHRM completed the processing of seismic data to accurately map the geometric structures in the marine areas of central Ionian and south of Crete,” the...
ENI and Total will explore Caspian oil and gas blocks in offshore Kazakhstan, targeting Abay and Kashagan, plus onshore Karachaganak and Dunga. ENI is focused on exploration offshore in Kazakhstan while Total works onshore. Kazakhstan’s state-owned KazMunayGas and Eni Isatay, a subsidiary of the Italian energy company Eni, plan to...
The US shale production decline is likely to continue, despite a bounce back in demand since April, the height of the COVID-19 pandemic. The U.S. rig count is at its lowest since 2005; only 176 oil rigs are currently active nation-wide. Drilling permits in July dropped to their lowest level...
Is Turkey drilling offshore Cyprus on insider data? The Cypriot government thinks Turkey got insider info on blocks off Cyprus' southern coast. Cypriot Government Spokesperson Kyriacos Koushos, who spoke to Greece’s Hellenic Broadcasting Corporation ERT this week, charged Ankara with having “somehow” obtained information regarding Block 8, which lies north...
Cyprus and Lebanon agreed to start negotiations on the exploitation of hydrocarbon reserves straddling the median line between their respective exclusive economic zones (EEZ), the Cyprus Mail reported. Foreign Minister Nicos Christodoulides, and Energy Minister Yiorgos Lakkotrypis, held talks in Beirut on Thursday with Lebanon’s Foreign and Energy Ministers, Gebran...
The Malampaya gasfield guarantees Philippine energy security, but it runs dry soon and gas producers fear new fields are too near to the South China Sea. About 80 km off the northwest coast of Palawan Island in the South China Sea is the Malampaya natural gas field, the Philippines’ main...