Total makes ‘very promising’ oil find off Ivory Coast

France’s Total has announced it discovered oil in a deep offshore area in the west of the Ivory Coast. It is the company’s first discovery in the San Pedro Basin but the second oil find in a year in the West African nation. In April last year, the oil giant announced its first find within […]

BP reveals ‘significant’ Gulf of Mexico oil discovery

Energy giant BP today announced it has made a “significant” deepwater oil discovery in the US Gulf of Mexico. It was made at the Gila prospect, which it co-owns with ConocoPhillips and is BP’s third discovery in recent years. BP previously announced two other Paleogene discoveries in the Gulf of Mexico – Kaskida in 2006 […]

Algeria announces ‘major’ oil discovery

Algeria has reportedly discovered a new oil field containing an estimated 1.3 billion barrels. The discovery made by state oil company Sonatrach is believed to be near the city of Ouargla in the southern part of the country. Energy Minister Youcef Yousfi is quoted as saying this is “one of Sonatrach’s biggest discoveries in the […]

New North Sea oil discovery for Statoil

Norwegian oil and gas company Statoil has made a new oil discovery near its Grane field (pictured) in the North Sea. The estimated volume of the find is said to be between 18 – 33 million barrels of recoverable oil. Tore Loseth, Vice President for exploration in the North Sea said: “We are pleased with […]

Brazil to auction rights to ‘largest’ oil find

Brazil plans to auction an offshore oil discovery, believed to be its largest ever, later this year. Rights to explore and develop blocks in the Libra field, which is expected to produce around 12 billion barrels of recoverable oil over 35 years, will be on offer in the first bidding round in October. Brazil’s national […]