Regional Reports

Africa

African Petroleum updates offshore Sierra Leone prospects

African Petroleum has updated the reserves prospects for its offshore Sierra Leone holdings.

ExxonMobil shelves plan for offshore Madagascar wildcat

Sterling Energy and its partner Pura Vida Mauritius expect to complete acquisition of a 3D seismic survey offshore Madagascar during 2Q.

African Petroleum grants extension to Liberia farm-in agreement schedule

African Petroleum Corp. has agreed to a request to extend the proposed completion date of an agreement to farm-in to its 100% owned offshore Liberi...

Asia

Myanmar awards deepwater offshore tracts to Reliance, Eni

Reliance Industries Ltd. and Myanmar Oil & Gas Enterprise have signed production-sharing contracts for offshore Republic of the Union of Myanmar blocks M17 and M18. 

Woodside to explore four blocks offshore Myanmar

Woodside has signed a production-sharing contract covering blocks AD-2, AD-5, A-7, and A-4 offshore Myanmar.

Mubadala issues notice of default to NGP

Tap Oil Ltd. has announced that operator Mubadala Petroleum gave notice to Northern Gulf Petroleum Pte. Ltd. that it is in default under the terms of the G1/48 Joint Operating Agreement, which cove...

Statoil secures more Aru Trough acreage offshore Indonesia

Statoil has won new exploration acreage in the Aru Trough I license offshore Indonesia. 

KrisEnergy commences Gulf of Thailand drilling campaign

KrisEnergy announced that the Key Gibraltar jackup has commenced drilling the Rossukon-2 exploratory well in G6/48 in the Gulf of Thailand.

Australia & New Zealand

New Zealand specifies offshore tracts available for bidding

New Zealand has opened its 2015 petroleum exploration permit bidding.

MEO Australia to farm out WA-488-P

MEO Australia has been formally notified by the international exploration company (farminee) that it has received final board approval to proceed with the exercise of its option to farm into WA-488...

MEO to request extensions for offshore Western Australia work programs

MEO Australia (ASX: MEO) says the partners in the WA-454-P permit off Western Australia plan to submit two applications to vary their work program to the Titles Administrator.

Azonto quits Ghana’s Accra block

Azonto and Afex Oil have decided to relinquish the offshore Accra block in the Ghanaian deepwater sector.

Santos negotiates Western Australia gas deal

Santos has agreed to supply natural gas from the John Brookes field in the Carnarvon basin offshore Western Australia to alumina producer, Alcoa of Australia. 

Canada

Suncor gains licenses offshore Newfoundland

Suncor Energy has received new exploration licenses off the east coast of Newfoundland under a joint bid.

TGS signs LOA for 2D surveys over Mexico, US Atlantic

TGS has signed a letter of award (LOA) with SeaBird Exploration to acquire up to 300,000 km (186,411 mi) of 2D seismic data offshore Mexico and in US Atlantic waters.

Suncor eases back on eastern Canada commitments

Suncor Energy says it plans a $1-billion reduction in its capital spending program this year.

Woodside secures farm-in offshore Nova Scotia

Woodside Petroleum has finalized an agreement with BP to farm in to 20% of various offshore blocks in Nova Scotia’s Scotian basin.

Petrofac to manage Nova Scotia deepwater development study

The government of Nova Scotia has contracted Petrofac to help identify the best means of exploiting the eastern Canadian province’s ultra-deepwater oil potential.

Latin America

Mexico may extend contract periods on shallow-water leases

The initial exploration contracts for Mexico expected to go up for bids later this year will have extended exploration periods. 

Wood Mackenzie reviews Mexico’s Round One leasing terms

Looking at Mexico’s Round One shallow water Gulf of Mexico leasing opportunities, Wood Mackenzie has noted that there are nine shallow-water fields with a total of 356 MMboe of 2P reserves. 

Venezuela, Guyana argue as Exxon plans to drill

Reports from Guyana indicate that an offshore rig heading from Louisiana to Guyana to drill for ExxonMobil has been met with objections from Venezuela.

Venezuela, Trinidad & Tobago to jointly explore offshore

The governments of Trinidad & Tobago and Venezuela have agreed on joint natural gas exploration in waters between the two countries. 

Bahamas Petroleum Act moves a step closer

Bahamas Petroleum Co. (BPC) says it has completed studies ahead of a first planned drilling campaign offshore the Bahamas.

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Middle East

Eni inks $5-billion Egypt investment accord

Eni CEO Claudio Descalzi has signed a heads of agreement with Egypt’s Minister of Petroleum and Mineral Resources Sherif Ismail.

Delek subsidiaries contest offshore Israel gas payments

Delek Group has issued details of a claim filed by its subsidiaries Delek Drilling and Avner Oil Exploration against the State of Israel for the return of overpayments of royalties.

Israel approves two offshore license extensions

The Israeli Petroleum Commissioner of Energy and Water Resources has extended the validity of two offshore licenses, according to Delek Resources.

Subsea intervention set to grow

Demand for subsea well intervention will remain high over the next five years, according to analysts Douglas-Westwood.

Deadline passes on Leviathan gas offer

There appears to be communication issues between the partners in the Leviathan gas discovery offshore Israel and Cyprus’ government.

North Sea & Europe

Parkmead identifies prospects throughout new UK blocks

Parkmead has issued an update on its exploration programs in the UK North Sea.

Fastnet gains extensions for licenses offshore Ireland

The Irish Department of Communications, Energy and Natural Resources has awarded Fastnet Oil & Gas a new licensing option in the North Celtic Sea basin off southern Ireland.

UKOG sees oil potential in offshore Isle of Wight area

UK Oil & Gas Investments says its initial subsurface analyses of southern England license P1916 confirm the potential for significant unrisked hydrocarbon volumes in the M prospect.

PSA calls for safety commitment to Norway’s mature fields

Attempts to cut costs offshore Norway in the current downturn will not be helped by the steady rise in late-life fields and facilities on the Norwegian continental shelf, according to the country’s...

Noreco working to safeguard offshore Denmark licenses

Noreco has issued an update on its license interests in the Danish North Sea, which could be jeopardized by the company’s financial difficulties.

Russia

Caspian region operators to rein in costs, report claims

Wood Mackenzie says the combination of the low oil price and Russia’s economic issues will make this a year of great uncertainty for the Caspian region.

Gazprom Neft expands Arctic presence

Gazprom Neft subsidiary Gazpromneft Sakhalin has received subsoil-use rights to two license blocks in the Russian Arctic.

More topsides head to V. Filanovsky in Caspian Sea

LUKOIL says transportation has started of the topsides for the riser block to the Vladimir Filanovsky field development in the Russian sector of the Caspian Sea.

Research study to cover offshore northern Russia

A research and development expedition is under way in the White Sea off northern Russia, the aim being to investigate ice and metocean conditions in the Russian arctic.

Frontier study analyzes conditions for future E&P in Russian arctic

The Arctic Research and Design Center (a joint venture of Rosneft and ExxonMobil) has completed its 2014 Kara Sea winter expedition.

US & Gulf of Mexico

DoI affirms 2008 Chukchi Sea lease sale results

The US Department of the Interior has affirmed the Chukchi Sea OCS Oil and Gas Lease Sale 193 and the leases issued in 2008 as a result of the sale.

GoM Lease Sale 235 draws heavy deepwater interest

In the US Central Gulf of Mexico Lease Sale 235, deepwater and ultra-deepwater tracts drew the most bids. 

More stringent rules for oil and gas development on federal properties loom

More stringent standards for oil and gas development on federal holdings, including offshore, are being adopted, US Secretary of the Interior Sally Jewell has said. 

Central GoM lease sale garners $539 million in high bids

The Department of the Interior’s Bureau of Ocean Energy Management held an oil and gas lease sale for the Central Gulf of Mexico that drew $538,780,056 in high bids for tracts on the US outer conti...

BP report: GoM environment returning to pre-spill conditions

BP has released a report finding that the Gulf of Mexico environment is returning to its baseline condition in the five years since the Deepwater Horizon oil spill.