News

MILAN — Eni announces an oil discovery on the A-2X exploration prospect in the South West Meleiha license, in the Egyptian Western Desert, some 103 km north of the oasis of Siwa. The well is the first one drilled by Eni to explore the deep geological sequences of the Faghur basin. The exploratory well, named SWM A-2X, has been drilled ...

State-held Nigerian National Petroleum Corporation (NNPC) aims to make its exploration and production unit—the Nigerian Petroleum Development Company (NPDC)—the top oil producer in the country, local media quoted NNPC group managing director Maikanti Baru as saying. NNPC aims to make NPDC the top E&P company operating in Nigeria and rivaling in terms of production Shell and the other international oil majors. Currently, ...

LONDON (Bloomberg) — While plunging output in Venezuela captures the oil world’s attention, problems are quietly festering in another OPEC nation. Angola, once Africa’s biggest crude producer, is suffering sharp declines at under-invested offshore fields, with output dropping almost three times as much as the nation pledged in an accord with fellow OPEC members. With the losses set to accelerate — ...

STAVANGER — Faroe Petroleum, the independent oil and gas company focusing principally on exploration, appraisal and production opportunities in Norway and the UK, has announced that both new infill wells drilled this year on Tambar field in Norway (Faroe 45%), have now been brought successfully into production. We also provide an update on the Fogelberg well operation, in which a ...

US Active Rigs Showing a Growth after weeks of declining After several weeks of decreasing, the US active rig count rose by five this week according to the Baker Hughes rig count statistics. Although drillers idled one of the inland water rigs, both onshore and offshore rigs rose by three. There are now 940 rigs actively drilling for oil and ...

A New Brazilian-Norwegian Agreement; Petro Bras and Statoil Partnership The two great and famous Brazilian and Norwegian oil companies, Petróleo Brasileiro SA and Statoil have signed a new agreement in order to complement the partnership they already have in Brazil, looking forward to increase and enhance natural gas operations, due to a securities filing on Friday. As PetroBras, the Brazilian ...

The Ministry of Oil & Gas of Oman and BP have announced that production has begun from the giant Khazzan gas field, which is operated by BP in partnership with Oman Oil Company Exploration and Production. Bob Dudley, BP Group Chief Executive, commented, “The start of production from Khazzan, BP’s sixth and largest major project start-up so far this year, ...

Ministers present at the 22nd World Petroleum Congress. The English-language publication “Drilling” is the only Iranian media supporting this prestigious global event.

Total and the National Iranian Oil Company (NIOC) have signed a contract for the development and production of phase 11 of South Pars (SP11), the world’s largest gas field. The project will have a production capacity of 2 billion cubic feet per day or 400,000 barrels of oil equivalent per day including condensate. The produced gas will supply the Iranian ...

500 top industry executives, 50 energy ministers and 6,000 delegates will converge on Istanbul for the 22nd World Petroleum Congress, which starts today. Referred to as the ‘Olympics’ of the oil industry, delegates will spend five days discussing a changing industry and an increasingly uncertain global environment. Oil prices have slumped almost 60% since reaching highs of more than $100 ...