Current News Archives

Seadrill backlog sits at $2.3 billion with Q4 2022 earning report

April 9, 2023

Q4 2022 Highlights Seadrill relisted its common shares on the New York Stock Exchange (“NYSE”) with trading commencing on October 14, 2022, and following the NYSE relisting Seadrill’s status on the Euronext Expand changed from a primary listing to a secondary listing. Subsequently, Seadrill uplisted to the main list of the Oslo Stock Exchange with trading commencing on

QatarEnergy farms in with Shell offshore Mauritania

April 9, 2023

| Current News

QatarEnergy has entered into an agreement with Shell to acquire a 40% working interest in the C-10 block located offshore Mauritania. Pursuant to the terms of the agreement, and subject to customary approvals by the government of Mauritania, QatarEnergy will hold a 40% working interest in the Exploration and Production Agreement pertaining to the C-10 block. Shell (the operator) will hold a

Aker BP issued new wildcat permit using the Scarabeo 8

April 9, 2023

| Current News

The Norwegian Petroleum Directorate (NPD) has granted Aker BP a drilling permit for well 6405/7-2 S in PL 1005. The well will be drilled at location 64° 15' 59.41'' N 5° 15' 36.99'' E by the Scarabeo 8 semi-sub. Licensees are: Aker BP 40%; Vår Energi 40%; Norske Shell 20%. Planned spud date is June 2023. Source: NPD Join our mailing list here

Latin America 2023 bid rounds at a glance

April 2, 2023

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Despite efforts to accelerate the clean energy transition, many countries in Latin America and the Caribbean are pushing ahead with plans to offer drilling rights for new oil and gas acreage. Here is a look at the latest developments: Brazil Hydrocarbons agency ANP is currently discussing the possibility of unifying the different E&P bidding round regimes (open acreage, concession and production sharing),

QatarEnergy farms in with Exxon offshore Newfoundland

April 2, 2023

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QatarEnergy has entered into a farm-in agreement with ExxonMobil Canada for two exploration licenses offshore the province of Newfoundland and Labrador in Canada. Pursuant to the agreement, QatarEnergy holds a 28% working interest in license EL 1167, where the Gale exploration well and associated activities are planned. ExxonMobil Canada (operator) holds 50% while Cenovus Energy holds 22%. QatarEnergy also holds a 40% working interest

GOM lease sale generates over $263 million

April 2, 2023

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The Bureau of Ocean Energy Management (BOEM) held Gulf of Mexico Lease Sale 259, which generated $263,801,783 in high bids for 313 tracts covering 1.6 million acres in federal waters of the Gulf of Mexico. A total of 32 companies participated in the lease sale, submitting $309,798,397 in total bids. Leases resulting from this sale will include stipulations to mitigate potential adverse effects on

Eco Oil and Gas applies for exploration authorization in Orange Basin

March 25, 2023

| Current News

Eco (Atlantic) Oil & Gas, the oil and gas exploration company focused on the offshore Atlantic Margins, and its partners are applying for Environmental Authorisation to undertake exploration activities in Block 3B/4B in the Orange Basin off the Northern Cape/South-West Coast of South Africa. The Joint Venture Partners have contracted Environmental Impact Management Services ('EIMS') of South Africa to apply for a

Aker BP moving ahead with nine of ten PDO projects

March 25, 2023

| Current News

Aker BP has notified the Norwegian Ministry of Petroleum and Energy that the company has acceded to all the Plans for Development and Operation submitted in December 2022, except from one. The Troldhaugen project in the Edvard Grieg area, which represents around four percent of the net estimated resources in these projects, has been discontinued. When an offshore field development decision is made in

Peru exploration potential

March 25, 2023

| Current News

The exploration potential of hydrocarbons in the Northwest of Peru (Tumbes, Talara and Sechura basins) amounts to 344 million barrels of oil and 4.8 TCF of gas, which demonstrates the need to promote exploratory activity for the discovery of new reserves that guarantee the country's energy development, PERUPETRO. PERUPETRO's Technical Resources manager, Asaid Bandach, explained that, to date,

ABL Group to acquire AGR

March 20, 2023

| Current News

ABL Group has entered into an agreement with a subsidiary of Akastor to acquire 100 percent of the shares in multi-disciplinary engineering consultancy and software company AGR. The acquisition will bolster ABL Group’s offering within well and reservoir consultancy, enhance the group’s position supporting operators’ digitalisation and decarbonisation plans, and expand its opex-driven offshore energy exposure. HIGHLIGHTS Accretive acquisition with strong industrial rationale. Consolidating

Current News

Seadrill backlog sits at $2.3 billion with Q4 2022 earning report

QatarEnergy farms in with Shell offshore Mauritania

Aker BP issued new wildcat permit using the Scarabeo 8

Latin America 2023 bid rounds at a glance

QatarEnergy farms in with Exxon offshore Newfoundland

GOM lease sale generates over $263 million

Eco Oil and Gas applies for exploration authorization in Orange Basin

Aker BP moving ahead with nine of ten PDO projects

Peru exploration potential

ABL Group to acquire AGR

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International Rig Count up 12% from last year

North America Rig Count: U.S. -4 to 751 Canada -12 to 127

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