The Turkish drillship Fatih is set to begin its first drilling campaign in the Eastern Mediterranean, a move that is likely to increase tensions between Greece, Turkey and Cyprus over offshore rights.
The semisubmersible Songa Enabler has completed the Skruis exploration wellin license PL532, 8 km (5 mi) north of the Johan Castberg oil field in the Barents Sea.
Wood Mackenzie forecasts that global oil and gas development spend needs to increase by around 20 percent to meet future demand growth and ensure companies sustain production next decade.
Iran's crude oil exports and production have declined since the May 2018 announcement by the United States that it would withdraw from the JCPOA and reinstate sanctions against Iran, according to EIA.
Austria's energy group OMV has postponed an investment decision on its Black Sea exploration project until next year because the Romanian government took too long to set the framework conditions, its chief executive said.
State-controlled oil company Petroleo Brasileiro, also known as Petrobras, said on Oct. 24 it had started production on its eighth platform in the offshore Lula Field, Brazil's most productive
Global oil and gas development spend needs to increase by around 20% to meet future demand growth and ensure companies sustain production next decade, according to energy consultancy Wood Mackenzie.
The oil and gas demand will peak in 2023 and 2034, respectively, according to DNV GL’s 2018 Energy Transition Outlook, an independent forecast of the world energy mix in the lead-up to 2050
Russia's energy major Rosneft and US ExxonMobil plan to build a liquefied natural gas (LNG) plant in a consortium with Indian and Japanese partners, spreading the estimated $15 billion cost.
