BP ‘eyes oil and gas field off coast of Senegal’

BP is reportedly eyeing an oil and gas investment off the coast of Senegal. Reuters suggests the energy giant is in talks with exploration firm Cairn Energy, which is looking to sell a 30% stake in its deepwater SNE field, said to be valued at around $600 million (£453m). BP has said it would be […]

New field to provide 5% of UK’s gas

A new development that will provide 5% of UK gas demand has started exporting to the mainland. The Cygnus field, located 150 kilometres off the coast of Lincolnshire, sent its first load of gas to the Bacton Terminal in Norfolk. It is expected to produce around 250 million cubit feet of gas each day and […]

BP to buy 10% stake in giant Egyptian gas field

BP has agreed to buy a 10% stake in a giant offshore gas field in Egypt. The company paid $375 million (£297.9m) for the share of Eni’s Shorouk Concession, which includes the Zohr gas field. It is believed to be the largest gas discovery in the Mediterranean, containing an estimated 850 billion cubic metres of gas. It was discovered in August 2015 by Eni, which […]

Record revenue for Tullow Oil

Tullow Oil has totted up record revenues for the first half of 2011. Its trading statement revealed incoming funds of $1.05 billion, compared with $486 million for the same period in 2010. Tullow has interests in 15 countries across Africa, pulling in some of its largest oil production from Ghana and Equatorial Guinea. Its Jubilee […]