BP announces two North Sea discoveries

BP has announced two new oil and gas discoveries in the North Sea, which could lead to a major expansion of its production. They are Capercaillie in the Central North Sea and Achmelvich located in the west of Shetland. The energy giant owns 100% of the former well while the latter well (52.6%) is in […]

ExxonMobil finds new oil offshore Guyana

ExxonMobil has announced a new offshore oil discovery in Guyana. The oil and gas multinational says it has seen positive results from the Payara-1 well, which is the company’s second oil discovery on the Stabroek block. More than 95 metres of high quality, oil bearing sandstone reservoirs were discovered. The well was safely drilled to 5,512 […]

New gas discovery in Algeria

A new natural gas discovery has been made in south-east Algeria. A test in the TESO-2 well in the Ordovician reservoir showed a gas flow of 175,000 cubic meters a day, energy company GDF SUEZ said. The well was drilled 1,307 meters deep in the Illizi basin. The size of the discovery will be looked into […]

New North Sea oil and gas find for Statoil

Norwegian company Statoil has announced it has made an oil and gas discovery in the North Sea. It is located 10 kilometres north of the Valemon field which is currently under development. The firm estimates total volumes in Valemon North to be in the range of 20-75 million barrels of recoverable oil equivalent. The field, […]

Statoil makes third oil discovery offshore Canada

Statoil has made a third discovery of crude oil in the Flemish Pass Basin, offshore Newfoundland – a Canadian island. The Norwegian firm said it is assessing the discovery on the Bay du Nord field – located around 500 kilometres northeast of St. John’s on Canada’s East Coast – and “developing a greater understanding” of […]