News Archive for: July 2012

BP has made a “small gas discovery” near the Marulk gas field in the Norwegian North Sea, according to the Norwegian Petroleum Directorate.

The NPD reported Wednesday that the wildcat well 6507/3-9S, operated by BP under production license 212E, found recoverable gas estimated at between 42 and 81 billion cubic…

A large profit from a farm-down in its Ugandan assets meant Tullow posted an increased first-half net profit as soaring costs eroded higher revenues.

The London-listed explorer boosted its production in the period but also ran up write-off costs and increased expenses at mature fields.

In February Tullow completed the farm-down…

Talisman Energy Inc. (Talisman) (TSX:TLM)(NYSE:TLM) announced that it has reached an agreement in the North Sea with Sinopec International Petroleum Exploration and Production Corporation (Sinopec), whereby Sinopec will acquire a 49% equity interest in Talisman’s UK North Sea business, Talisman Energy (UK) Limited (TEUK), for $1.5 billion.

“We are very…

HOUSTON – Chevron North Sea Ltd. has contracted the front-end engineering and design for the Rosebank development to WhorleyParsons and its INTECSEA subsidiary.

The FEED covers an FPSO and subsea infrastructure for the field, which is 80 mi (130 km) northwest of the Shetlands in 3,700 ft (1,100 m) of…

China has made a dramatic swoop on the North Sea oil industry, buying up assets that account for more than 8pc of the UK’s entire oil and gas production.

Chinese state-controlled group CNOOC agreed a $15.1bn (£9.7bn) offer to buy Canada’s Nexen, which is the second biggest oil producer in…