UK: Oil and gas industry welcomes Chancellors’ Budget measures to support green energy transition
03 Mar 2021
The UK oil and gas industry has welcomed some of the measures announced by the Chancellor in Wednesday s Budget, adding that now close cooperation with the sector is essential to maximise its world-leading expertise and assure a successful green energy transition.
The leading representative body for the sector
OGUK said the combination of taxation and investment measures offers a potentially strong route to transition energy and employment ahead of the much anticipated and crucial North Sea Transition Deal that we are negotiating with Government.
OGUK Chief Executive Deirdre Michie, said:
Australia: Vintage Energy announces operations update
03 Mar 2021
PEL 155: Nangwarry-1 testing to commence in mid-March; operator advises slight delays due toCOVID-19 restrictions around transportation of equipment; material value to be added over the long-term upon successful test
ATP 2021and PRL 211: Potential to deliver upside with new wells; rig contract signed for multi-well Cooper Basin campaign
Vintage Energy has provided an update on activities relating to the testing of
Nangwarry-1 in the onshore Otway Basin and the
Vali gas field and
Neil Gibbins, Vintage Managing Director, said: We are pleased that, despite equipment delivery uncertainty and cross-border travel restrictions due to recent COVID-19 lockdowns,the operator has now advised that the testing of
Norway: Equinor investing in further development of the Asgard field
04 Mar 2021
Åsgard licence have decided to invest just under
NOK 1.4 billion to further develop the field and implement the Åsgard B low-pressure project. We’re pleased that the Åsgard owners have given their go-ahead for the low-pressure project. The project will increase production from the current Smørbukk wells and contribute to achieve planned production from the field. We’re also awarding a contract to Aker Solutions which will provide valuable activity and help maintain jobs in a difficult time, says Geir Tungesvik, Equinor’s senior vice president for projects.
Australia: Strike Energy announces West Erregulla update
04 Mar 2021
•Hydrocarbons shows observed throughout the entire hole section.
•Wireline logs will now be run across this section.
Strike Energy has provided an update on the drilling operations at
WE4 behalf of the
Current Operations
Since the last update, Strike has drilled the second intermediate hole section in 12-1/4” down to a final section depth of 3,906m into the Kockatea Shale.
During the drilling of this section hydrocarbon shows have been observed throughout and as a result, wireline logs will be run through the section. The presence of these hydrocarbons is supportive of Strike’s geological models and the results are analogous to observations seen in the West Erregulla 2 well.
Interoil signs farm-out agreements in Colombia and Argentina and announces small private placement
04 Mar 2021
Interoil Exploration and Production has announced two transactions which strengthen the company’s production growth outlook in both Colombia and Argentina.
In
SLS and Quantum Resources for the drilling of the remaining committed
exploratory well (Mazorca) in the Altair block. This agreement is subject to Interoil’s obtainment of the funding required to meet its obligations under the farm-out agreement. The subscription of the small private placement announced herein constitutes a Company action aimed at securing such funding.
In
Velitec to invest in the
re-opening of 15 wells in the Mata Magallanes Oeste (MMO) oil field, including the reconditioning of the nearby dispatch battery at the