Abu Dhabi National Oil Company (ADNOC), the State Oil Company of Azerbaijan (SOCAR) and TotalEnergies have announced a strategic transaction that will see ADNOC acquire a 30% equity stake in the Absheron gas and condensate field in the Caspian Sea.
After completion of this transaction, which is subject to the approval by the relevant authorities, TotalEnergies will own a 35% interest in Absheron gas field, alongside SOCAR (35%) and ADNOC (30%).
Spending on conventional oil and gas exploration is rebounding and is expected to top US$50 billion this year, according to Rystad Energy.
Trillion energy has announced farm-in agreement for three oil exploration blocks in southeast Turkey.
The ‘World-class’ study has highlighted CCUS potential for a North Sea ‘super basin’.
OMV have announced a new gas discovery in Austria, representing the country’s largest natural gas discovery in 40 years.
PETRONAS has made six oil and gas discoveries in five blocks off the coast of Sarawak, Malaysia.
Torgeir Strodal spoke at the Roundtable conference in Molde, Norway, about the importance of Norwegian gas supplies in Europe.
3D Oil has announced that ConocoPhillips Australia has issued a letter of award for a drilling project on the southern coast of Australia.
Shell, QatarEnergy and NAMCOR have completed the drilling of a deep-water offshore well off the coast of Namibia.
DNO has announced a gas discovery in the North Sea, Norway’s largest in a decade.
TotalEnergies has announced the start of production in the Absheron gas field in Azerbaijan.
OMV Petrom has discovered new crude oil and natural gas resources in Romania.
TotalEnergies has announced an oil and gas discovery on OML102 offshore Nigeria.
Rig demand is expected to increase 20% from 2024 – 2025, meaning rates are up 40% from the past year.