Wood Mackenzie’s upstream Middle East North Africa team has identified various developments to watch for over the coming year.
Total and its partners have successfully applied to convert a licensing option (LO 16/27) in the southern Porcupine basin offshore southwest Ireland to a frontier exploration license (FEL 2/19).
Pandion Energy has agreed to acquire Aker BP’s 30% interest in license PL 842 in the Norwegian Sea.
The Norwegian Ministry of Petroleum and Energy has awarded 83 new production licenses to a total of 33 companies under Norway’s Awards in Predefined Areas 2018 round.
Exploration drilling looks set to soar offshore Africa this year, according to Wood Mackenzie.
The National Oil and Gas Authority of the Kingdom of Bahrain and Eni have signed a memorandum of understanding to explore block 1 offshore northern Bahrain.
Oil and gas production offshore Norway should increase steadily from 2020-2023, according to the latest forecast by the Norwegian Petroleum Directorate.
Eni and PTTEP have secured the two offshore blocks offered under Abu Dhabi’s first international licensing round.
Wood Mackenzie expects a pickup in offshore exploration this year across Southeast Asia and Australasia.
Equinor has completed a transaction with Chevron west of Shetland.
Ireland’s Minister of State at the Department of Communications, Climate Actions and Environment has approved two frontier exploration license applications by Azeire in the offshore Porcupine basin.
Wood Mackenzie expects operators in the Northwest Europe region to spud more than 60 offshore exploration wells this year, a 25% increase on the total for 2018.
Equatorial Guinea’s Ministry of Mines and Hydrocarbons has notified Ophir Energy that it will not gain an extension for the offshore block R license.
Eni has entered into an agreement with Caelus Natural Resources Alaska LLC to acquire 70% and operatorship of the Oooguruk oil field off Alaska.
DNO has relinquished operatorship and participation in Oman’s offshore block 8 to the country’s Ministry of Oil and Gas and state-owned Oman Oil Company Exploration and Production.
EDF Renewables North America and Shell New Energies US LLC have formed a 50/50 joint venture, Atlantic Shores Offshore Wind LLC, to co-develop OCS-0499 lease area within the New Jersey wind energy area.
GulfSlope Energy Inc. has completed several operational milestones related to its 2019 drilling program and prospect portfolio.
Equinor has completed the sale of interests in two Norwegian North Sea discoveries for a total of $470 million.
OMV has completed its acquisition of Shell’s Upstream business in New Zealand for $578 million.
Ecopetrol S.A. has signed an agreement with Shell and Chevron to acquire a 10% stake in the Saturno block in the presalt Santos basin.
Next year is shaping up to be a good one in the US Gulf of Mexico, says global natural resources consultancy Wood Mackenzie.
ADNOC and Abu Dhabi’s government have awarded Austria’s OMV a 5% interest in the 40-year offshore Ghasha ultra-sour gas concession.
Wood Mackenzie has issued more details on CNOOC’s announcement that it has signed strategic cooperation agreements with nine international oil companies.
Qatar Petroleum will acquire 35% of Eni’s interest in Area 1 in the Bay of Campeche, offshore Mexico pending approval from the Mexican authorities.