Exploration
News
October 15, 2020
The Walker Ridge program covers approximately 300 OCS blocks including two priority areas of significant industry interest. Advanced proprietary imaging technologies will be applied to this program to unlock the full potential of existing seismic data and provide significant uplift in subsurface imaging.
News
October 15, 2020
The nation’s producers, which have reduced oil drilling by as much as one-third so far this year, may cut it by a further 20% in 2021, said Vitaly Dokunikhin, CEO at Eriell Russia.
News
October 09, 2020
The energy discovery in the Black Sea is critical for Turkey’s current-account balance which is dragged down by the need to import nearly all of the 50 billion cubic meters of gas the country consumes annually.
News
October 02, 2020
Turkey plans to deploy a second drilling ship in the Black Sea early next year following the biggest-ever natural-gas discovery there.
News
September 25, 2020
API recently released an analysis outlining how policies to ban development on federal land and waters threaten American jobs and the nation’s energy security. The analysis projects that a ban would shift the U.S. to foreign energy sources, cost nearly one million American jobs, increase CO2 emissions and reduce revenue that funds education and key conservation programs.
News
September 24, 2020
The Government of Newfoundland and Labrador announced the establishment of a new offshore exploration initiative to provide companies with the incentive to drill more wells in the best prospects.
News
September 22, 2020
Greece, Italy, Egypt, Israel and two other countries will form a permanent organization to promote co-operation over natural gas in the Eastern Mediterranean. Turkey, which has raised tensions by exploring for the fuel in contested waters, is not as yet included.
News
September 14, 2020
The OIl & Gas Authority believes that maximizing the economic recovery of the UK’s remaining oil and gas need not be in conflict with the energy transition, and that the industry has the skills, technology and capital to help unlock the solutions required to help the UK achieve net zero.
News
September 11, 2020
In this week's podcast, World Oil editors discuss how legislative activities, a smaller labor pool, and harsh economic realities are impacting options for oil and gas sector growth in North America's post-coronavirus economy.
News
September 10, 2020
Turkey is in talks over oil and gas exploration in Libya, as President Recep Tayyip Erdogan’s administration seeks business opportunities in the conflict-ridden North African country.
News
September 09, 2020
The monthly Oilfield Services and Equipment Employment Report, compiled and published by the Petroleum Equipment & Services Association, shows total job losses due to pandemic-related demand destruction reached 103,420 in August. OFS employment is down more than 121,000 jobs since August 2019 and is at its lowest point since March 2017.
News
September 08, 2020
President Donald Trump endorsed an extended ban on offshore oil development on Florida’s western coast as he courts voters worried that drilling imperils the state’s beaches and tourism-based economy.
News
September 08, 2020
Hess Corporation announced another oil discovery offshore Guyana at the Redtail-1 well, the 18th discovery on the Stabroek Block, which will add to the previously announced gross discovered recoverable resource estimate for the block of more than 8 billion barrels of oil equivalent.
News
September 04, 2020
The leading representative body for the UK’s offshore oil and gas industry has embraced a UK government review into future licensing rounds as an opportunity to shine a light on how the sector is changing to support the country’s climate ambitions while still ensuring it contributes to the UK’s ongoing security of energy supply.
News
August 28, 2020
Saudi Aramco discovered two oil and gas fields in northern parts of Saudi Arabia, the kingdom’s official news agency reported, citing Energy Minister Prince Abdulaziz bin Salman.
News
August 21, 2020
“Turkey is a premium gas market, which has never been significant on a global scale. The discovery really reinforces the country’s potential role as an energy producer in the region,” said Ashley Sherman, principal analyst on Caspian and Europe upstream at Wood Mackenzie.
News
August 21, 2020
Turkey bought three drilling ships in recent years as it dramatically expanded energy exploration in the Black Sea and contested waters of the eastern Mediterranean. It’s keen to find sizable energy reserves to ease its heavy reliance on imports from Iran, Iraq and Russia, and support one of the biggest economies in the Middle East.
News
August 20, 2020
With the first of two party conventions underway this week, API Pennsylvania released new polling conducted by Morning Consult showing voters value American energy security and affordability and believe it is important for the U.S. not to rely on foreign energy sources.
News
August 19, 2020
Firms including Transocean, Seadrill and Pacific Drilling are exploring strategic options as they seek to stave off default, leaving more than $30 billion of debt at risk. The industry’s turmoil has sparked the biggest wave of restructurings since 2017, when the effects of the last oil price downturn reverberated through the industry.
News
August 18, 2020
Ankara resumed its search of the contested waters last week after German-mediated negotiations with Greece collapsed when Athens announced a maritime delimitation agreement with Egypt on Aug. 6 in retaliation to a similar deal between Turkey and Libya.
News
August 18, 2020
While any production would likely be years away, the California-based oil major is looking to use this year’s crude price crash to gain access to quality reserves cheaply, while European rivals are focusing on a transition to low-carbon energy sources and Exxon Mobil Corp. is reining in spending.
