PTTEP Sees 6% Rise in 2021 Sales Volume
Jan 29, 2021 5:41:am
Summary The company expects additional sales volume from Sabah H and Algeria Hassi Bir Rekaiz projects that will start production during the year.
by: Shardul Sharma
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PTTEP Sees 6% Rise in 2021 Sales Volume
Thai state-run PTTEP expects its 2021 sales volume to increase by 6% year/year to 375,000 barrels of oil equivalent/day, it said on January 28. Part of the volume addition will be from the production start-up of Algeria Hassi Bir Rekaiz project and Malaysia project – Block H.
PTTEP has set aside total expenditure at $4.19bn for 2021. “The key business objectives are to maintain production plateau of the existing projects, accelerate the development of major projects in enhancing production volume and proceed exploration activities for supporting long term growth,” it said.
Neo in Line for ExxonMobil UK Assets: Update
Jan 21, 2021 10:40:am
Summary
by: Joe Murphy
Neo Energy, backed by Norwegian private equity group Hitecvision, announced on January 21 it had entered exclusive negotiations to buy ExxonMobil s upstream ope.
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OMV Petrom Kicks off Black Sea Drilling
Jan 19, 2021 10:20:am
Summary The Austro-Romanian operator is honing its focus on the Black Sea, with planned operations in multiple countries.
by: Joe Murphy
Austro-Romanian operator OMV Petrom has launched a new offshore drilling campaign in the Romanian Black Sea, involving two development wells at the shallow-water Istria block, it said on January 18.
Work on the first w.
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Russia s Novatek Reports Resource Bump
Jan 19, 2021 11:25:am
Summary
by: Joe Murphy
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Russia s Novatek Reports Resource Bump
The proven and probable oil and gas reserves of Russia s Novatek were estimated by DeGolyer & MacNaughton to be 29.32bn barrels of oil equivalent at the end of last year, the company said on January 19, marking a 2% increase from the end of 2019.
The growth in proven reserves was only 0.6% to 16.37bn boe. Novatek has enough proven reserves to satisfy production in 2020 for 27 years without additional exploration, down from 28 the year before.
Novatek attributed the bump in reserves to exploration work at the Geofizicheskoye, Utrenneye and Nyakhartinskoye fields and production drilling at the Urengoyskoye, East-Tazovskoye, North-Russkoye, Utrenneye and South-Tambeyskoye fields. Recovery rates also increased at the Yurkharovskoye and Yarudeyskoye fields, it said.
Majors Exit Nigerian Onshore Block
Jan 18, 2021 10:20:am
Summary
by: Joe Murphy
Anglo-Dutch Shell, France s Total and Italy s Eni have all sold their interests in the OML 17 onshore block in Nigeria to local investor Heirs Holdings and its affiliate Transn.
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