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ISA, UKSRL Ink Second Mining Deal

April 2, 2016

International Seabed Authority (ISA) and the UK Seabed Resources Limited (UKSRL) have signed a 15-year contract for exploration for polymetallic nodules in the eastern part of the Clarion-Clipperton Fracture Zone. The contract was signed on March 29, 2016, in New York, by the secretary-general of ISA, Nii Allotey Odunton, and Linda Reiners, UKSRL managing director. The area allocated to the contractor covers… Continue Reading »

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Crude At $40 Isn’t The Only Problem Facing Norway’s Oil Industry

March 31, 2016

The collapse of crude prices isn’t the only problem facing energy companies in Norway: Explorers in western Europe’s biggest oil-producing nation also have had their leanest drilling spell in almost a decade. Companies searching off Norway found less than 5 million barrels of oil and gas for every exploration well drilled last year, the lowest… Continue Reading »

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Eni-Led Consortium Awarded Offshore Ghana License

March 30, 2016

A consortium comprising GNPC, Explorco, Vitol, Eni and Woodfields has been awarded a new exploration license in Cape Three Points Block 4, located in the Tano Basin offshore Ghana. The license, which was awarded following the ratification of the Parliament of the Republic of Ghana, covers an area of 435 square miles in water depths… Continue Reading »

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Gabon Extends Bid Deadline for Deep Water Acreage

March 24, 2016

Gabon has extended bid submission deadline for participation in the new 11th licensing round which will focus on five blocks covering the country’s deep water acreage in the South Gabon Salt Basin.  The round was formally opened on October 27, 2015 by Minister for Petroleum, Etienne Dieudonné Ngoubou at the 22nd Africa Oil Week conference in… Continue Reading »

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Eni Cranks Up Spending Cuts, Asset Sales To Fund Transformation

March 23, 2016

Italy’s Eni is cutting investments and selling down stakes in oil and gas fields to help it prop up dividends and become a leaner exploration-driven player focusing on gas. The state-controlled company said in its 2016-2019 business plan on Friday it would cut overall group capital spending by 21 percent and exploration budgets by 18… Continue Reading »

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Norway Launches APA 2016 Licensing Round

March 19, 2016

The Norwegian Ministry of Petroleum and Energy launched the APA (Awards in Predefined Areas) 2016 licensing round Thursday, comprising predefined areas with blocks in the North, Norwegian and Barents Seas. Norway’s latest licensing round has been extended by 24 blocks in the Norwegian Sea and 32 blocks in the Barents Sea since APA 2015. The… Continue Reading »

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Japan Ruling Party Considers International Arbitration Over China Dispute

March 18, 2016

Japan’s ruling party urged Prime Minister Shinzo Abe’s government on Wednesday to consider seeking international arbitration over Beijing’s drilling activities in the disputed East China Sea, mirroring similar action by the Philippines. Sino-Japanese ties have long been plagued by conflicting claims over a group of uninhabited East China Sea islets. Last year, Japan called on… Continue Reading »

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Obama Said to Bar Atlantic Coast Oil Drilling in Reversal

March 16, 2016

The Obama administration is set to reverse course on opening Atlantic waters to a new generation of oil and gas drilling, after a revolt by environmentalists and coastal communities that said the activity threatened marine life, fishing and tourism along the U.S. East Coast. The proposed offshore leasing program expected to be released Tuesday walks… Continue Reading »

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India Eases Gas Prices in Bid to Seek $27 Billion Investment

March 12, 2016

India announced steps to attract investment in the nation’s oil and gas industry on Thursday to help meet Prime Minister Narendra Modi’s goal of cutting import dependence. The nation’s cabinet approved measures including giving pricing freedom to explorers for natural gas extracted from deepsea fields that start production this year, except those under litigation, according… Continue Reading »

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JOGMEC Extends Seychelles Joint Survey Agreement

March 4, 2016

Japan Oil, Gas and Metals National Corporation (JOGMEC) has signed an extension to the joint survey agreement for the evaluation of the hydrocarbon potential in offshore Seychelles among Ministry Responsible for Hydrocarbons and PetroSeychelles Ltd on March 1, 2016. JOGMEC has been conducting geological and geophysical surveys including seismic surveys with PetroSeychelles since August 30,… Continue Reading »

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