The global oil and gas explorers powered ahead and discovered 12.2 billion barrels of oil equivalent (boe) in 2019, the highest volume since 2015.According to Rystad Energy, last year recorded 26 discoveries of more than 100 million boe, with…
The Energy Transition and Extinction Rebellion may have led the energy news agenda and stimulated reflection in many exploration and production (E&P) boardrooms in 2019, but the impact on exploration drilling is not yet apparent. The global high impact well[1] count in 2019 was 91 wells…
Rising oil prices are bolstering the numbers of floating production systems on-order or in the planning stage, with fresh orders from Northern Europe and Brazil merely adding to a buoyant market, a new report says.In the doldrums just a few years ago…
Israel opposes an accord signed last month between Libya and Turkey mapping out maritime boundaries in the eastern Mediterranean, but the deal was unlikely to lead to a conflict with Turkey, Israel's foreign minister said on Monday.The deal…
A Turkish drone meant to help seek hydrocarbons in the eastern Mediterranean landed at an airport on the divided island of Cyprus on Monday, a Turkish official said, in a move that could further stoke tensions between Turkey and Greece.The breakaway…
The Turkish oil-and-gas drilling ship Fatih has started its operations off the coast of northeastern Cyprus, Turkish vice president Fuat Oktay said on Friday, despite warnings from European Union for Ankara to stand down.On Monday, the EU Foreign…
Cyprus signed a 25-year concession on Thursday with a three-member consortium for the exploitation of a gas reservoir south-east of the island first discovered in 2011.The contract with Noble Energy, Shell and Delek is the first commercial exploitation licence signed by the Mediterranean island…
Cyprus-based company active in the oil and gas industry S.D Standard Drilling signed Memorandum of Agreement (MoA) to sell one large Norwegian built Platform Supply Vessel (PSV), Standard Supporter for USD 15 million.The transaction was completed yesterday (10 December 2019)…
Libya's internationally recognized government and Turkey have signed an agreement on maritime boundaries in the Mediterranean Sea that could complicate Ankara's disputes over energy exploration with other countries.Turkey, which announced the…
Tensions between Cyprus and Turkey over offshore drilling intensified on Friday, with Nicosia accusing Turkey of a 'severe escalation' of violations of its sovereign rights.Turkey announced on Thursday that it had sent an oil-and-gas drilling…
Seadrill Chairman John Fredriksen, the oil rig firm's top shareholder, is stepping down with immediate effect, the company said on Thursday, as it holds discussions with lenders about restructuring its massive debts.The 75-year-old billionaire investor…
Italian oil major Eni is committed to the exploration of Cyprus' Exclusive Economic Zone and its contractual engagements with the country, its chief executive said on Friday.Turkey said last week it had sent an oil-and-gas drilling ship to waters…
Eni is not concerned about escalating tensions between Cyprus and Turkey over the question of offshore drilling and would seek to stay clear of any conflict, the Italian oil and gas group's Chief Executive said on Thursday.'I'm not worried,' Claudio Descalzi said at a conference in Rome…
The Turkish drillship Yavuz will begin drilling for oil and gas southwest of Cyprus on Monday or Tuesday, Energy Minister Fatih Donmez said, in a move which has intensified tensions between the two countries.Ankara said on Thursday it had sent…
One of Turkey's two drill ships in the eastern Mediterranean has completed operations in Karpaz, off the northeastern coast of Cyprus, Turkish Energy Minister Fatih Donmez said on Friday.EU member Cyprus and Turkey have argued for years regarding…
Subscribe
