Field Development News


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HNRA Confirms Boost in Untapped Oil in Permian Basin Asset
The Houston-based company said that there could potentially be 34 million barrels of oil that can be accessed in the Grayburg-Jackson Field.
8:00 PM EST | March 14, 2024
Chevron Oil Project in Kazakhstan to Cost $48.5B
A major development led by Chevron to boost oil output at Kazakhstan's Tengiz field will cost about $48.5 billion.
8:00 PM EST | March 14, 2024
Block Energy Seeks Partners for Georgia Gas Project
Block Energy launched a farmout process for the development of a group of gas assets in the Eurasian country of Georgia.
7:00 PM EST | February 13, 2024
Qatar Awards $6B Build Contracts for Key Oil Field
QatarEnergy has awarded contracts worth over $6 billion for main works in the next-phase development of the Gulf state's biggest oil field.
7:00 PM EST | January 31, 2024
Petrobras Boosts Total Output in 2023 by 3.7 Percent
Last year, Petrobras put four new platforms into operation.
7:00 PM EST | January 30, 2024
Jadestone Inks HoA for Vietnam Offshore Gas Assets
The HoA is the first step in the commercialization of the assets and could potentially lead to a gas sales and purchase agreement for the NDUM fields offshore Vietnam.
7:00 PM EST | January 29, 2024
Equinor Awards Electrification Contract for Snohvit Field
Leonhard Nilsen & Sonner has won a $143.9 million contract for electrification work for Snohvit Future, a project to ensure continued operation of the gas and condensate field and a connected LNG plant.
7:00 PM EST | January 29, 2024
Trillion Defers Completion of Work Program, Names New COO
Trillion Energy International Inc. has postponed the expected completion of the work program for its SASB gas field offshore Turkiye by three months.
7:00 PM EST | January 23, 2024
Novatek Logs Year-on-Year Rise in Production to 645 MMboe
Novatek saw production rise 0.9 percent last year.
7:00 PM EST | January 22, 2024
Karoon Lowers Production Guidance, Plans Well Intervention
Karoon said it expects its total production for 2024 to be in a range of 11.2 million to 13.5 million barrels of oil equivalent.
7:00 PM EST | January 22, 2024
Inpex Bags 5 Norway Licenses, Ups Stake in Ichthys LNG
The licenses are also expected to help make the company's upstream business more resilient.
7:00 PM EST | January 21, 2024
Petro-Victory Mobilizes Workover Rig to Brazil Field
The company mobilized the SPT-129 workover rig with rig services provider Braserv Petroleo LTDA to the Sao Joao field.
7:00 PM EST | January 18, 2024
Europa Oil Expects to Flop 2023 Free Cash Flow Projection
Europa cited delays in production scale-up in the Wressle field.
7:00 PM EST | January 16, 2024
Vedanta Claims First Development Plan under India Open Acreage Licensing
Vedanta filed a field development plan for one of the first blocks awarded under India's reformed hydrocarbon licensing policy.
7:00 PM EST | January 15, 2024
Indonesia Extends Contract for Petronas' Ketapang Block
Petronas has received a PSC 20-year extension.
7:00 PM EST | January 09, 2024
Prospera Tops 2023 Production Target
Prospera said it exceeded its 2023 year-end target with a total production capability of 2,200 barrels of oil equivalent per day.
7:00 PM EST | January 07, 2024
India Inks Contracts for 13 Hydrocarbon Blocks
India signed contracts for 13 hydrocarbon blocks opened for bidding in the last two years.
7:00 PM EST | January 07, 2024
ANOH Gas Plant Reaches Mechanical Completion
Installation works for Nigeria's ANOH gas plant reached mechanical completion in line with the revised timetable.
7:00 PM EST | January 06, 2024
Europa Oil Raises Wressle 2P Estimates to 2.37 Billion Boe
Europa Oil increased the 2P estimate for the Wressle field in the United Kingdom by 263 percent.
7:00 PM EST | January 03, 2024
Azerbaijan, France Row Poses No Risk to Caspian Gas Project: Baku Official
Azerbaijan's foreign minister claimed there's no risk to his country's natural gas project led by France's TotalEnergies despite escalating tensions between the two countries.
7:00 PM EST | December 31, 2023
Petroecuador Reaches New High for Oil Output
The company reported adding a total of 404,290 barrels of oil per day (bopd.
7:00 PM EST | December 28, 2023
Petronas Inks MoU, Two TAAs with PTTEP for Sarawak Blocks
The MoU and the TAAs are in relation to the development of PTTEP-operated blocks SK405B and SK410B.
7:00 PM EST | December 27, 2023
NG Energy's Colombian Gas Reserves Up Four Times Year-on-Year
In Colombia this year NG Energy drilled a new well and signed a deal to develop pipeline infrastructure.
7:00 PM EST | December 27, 2023
Rex JV Inks PSC for West Africa Oil Block
Akrake Petroleum SA has signed a production sharing contract for operatorship and a 76 percent working interest in Block 1, Sèmè Field in Benin, West Africa.
7:00 PM EST | December 26, 2023
Block Energy Eyes Farm-Out of Georgia Asset
Block has designed a multi-stage appraisal and development plan that is being used to facilitate discussions with possible partners.
7:00 PM EST | December 26, 2023
Valeura Wraps Up Infill Drilling at Nong Yao Oil Field
Valeura drilled three production-oriented development wells and one appraisal well at the Thailand field.
7:00 PM EST | December 25, 2023
ExxonMobil Gets Approval for Expanded Development of Canada's Hebron Field
The province of Newfoundland and Labrador has allowed ExxonMobil to exploit sands that were not part of the original plan.
7:00 PM EST | December 18, 2023
Shell Makes FID for Campaign to Boost Output in GOM Asset
Shell plans a phased campaign to deliver three wells in the Great White unit, designed to boost production at the Perdido Spar.
7:00 PM EST | December 13, 2023
Wintershall Completes Appraisal Well in Norwegian Sea Asset
The company is now assessing potential options for developing the Bergknapp discovery.
7:00 PM EST | December 13, 2023
Neptune Makes Discovery, Completes Appraisal in NCS Asset
Neptune drilled the 35/6-4 A side-track into the overlying Kyrre prospect, resulting in a new gas discovery.
7:00 PM EST | December 12, 2023
Oil Majors in Guyana Advance Plans despite Venezuela Threats: Prez Ali
Oil majors operating in Guyana's waters are 'moving ahead aggressively' with production plans despite Venezuela's threats to take over the region.
7:00 PM EST | December 11, 2023
UKOG Extends Farm-In Term Sheet for UK Asset
The farm-in remains subject to the completion of a formal agreement and necessary regulatory approvals.
7:00 PM EST | December 11, 2023
65 Percent of Gas on Norway Shelf Remains Untapped: Regulator
About 65 percent of gas resources in the Norwegian continental shelf have yet to be produced and may need new technology to be extracted.
7:00 PM EST | December 06, 2023
Prospera Secures Financing for Cuthbert Well Development Program
Prospera Energy Inc. has completed gross overriding royalty (GORR) financing for $2.21 million (CAD 3 million).
7:00 PM EST | December 06, 2023
Source Rock Closes Acquisition of Royalty in Alberta's Clearwater
The company closed the acquisition of a gross overriding royalty in 60,800 net acres of largely contiguous land in the Figure Lake area of central Alberta.
7:00 PM EST | December 06, 2023
NG Energy Inks Supply Contracts with Colombian Gas Distributors
NG Energy signed take-or-pay contracts with three Colombian natural gas distribution companies, as well as started sales for Maria Conchita.
7:00 PM EST | December 05, 2023
Chevron Fate in Aphrodite Field Still Uncertain
A Chevron-led consortium has asked Cyprus for a postponement of the start of the Aphrodite FEED.
7:00 PM EST | December 04, 2023
Falcon Oil & Gas Starts Stimulation of SS1H in Beetaloo
Falcon expects to release 30-day initial production flow rates in the first quarter of 2024.
7:00 PM EST | November 28, 2023
Ukrnafta Expects to Sign PSAs by March 2024
Dozens of firms have expressed interest in exploring fields in Ukraine.
7:00 PM EST | November 26, 2023
Serica to Acquire GBA Stake from Jersey Oil
After completion, NEO Energy retains a 50 percent interest in the GBA and remains its operator, with Serica and JOG holding 30 percent and 20 percent, respectively.
7:00 PM EST | November 26, 2023
Libya Makes Maiden Export from Erawin Oil Field
Libya has started exporting oil from the Erawin field in the Murzuq basin.
7:00 PM EST | November 20, 2023
Buru Steps Up Preparation to Appraise Rafael Discovery
Buru is working to commercialize its Rafael discovery in Australia.
7:00 PM EST | November 19, 2023
Tullow Secures $400MM from Glencore, Pens Oil Offtake Deals
Tullow has secured $400 million from Glencore for use for liability management of its senior notes.
7:00 PM EST | November 14, 2023
Norway's Hydrocarbon Production Continues to Drop
Norway's petroleum production totaled about six billion cubic feet of oil equivalent so far in 2023.
8:00 PM EST | October 24, 2023
Petrobras Hits Quarterly and Monthly Production Records
Petrobras' operated oil and gas production reached 3.98 MMboe in the third quarter.
8:00 PM EST | October 19, 2023
Ocean Installer Bags EPCI Contract from Equinor for Eiren Field
The scope covers the installation of structures, flexibles, umbilical, seabed rectification, tie-ins, and commissioning.
8:00 PM EST | October 17, 2023
Talon-Strike JV Begins Export of Sales Gas from WA field
A gross total of approximately 52 terajoules of gas was sold at the start-up of the Walyering field.
8:00 PM EST | October 10, 2023
Predator in Talks for Gas Offtake on Moroccan Asset
Predator Oil & Gas Holdings Plc has entered exploratory discussions to potentially sell its share of gas produced at the Guercif Compressed Natural Gas project.
8:00 PM EST | October 09, 2023
TotalEnergies Not Scaling Down on Fossil Fuels Anytime Soon
TotalEnergies has insisted it is committed to cutting emissions while planning to raise oil and gas production by as much as three percent over the next five years.
8:00 PM EST | September 28, 2023
Bumi Armada to Build FPSO for Indonesian Offshore Asset
Bumi Armada and Pexco have signed a contract for the Akia PSC in the Tarakan Basin of the North Kalimantan Province.
8:00 PM EST | September 26, 2023