China National Offshore Oil Corporation discovers oilfield in the Bohai Sea
The Bozhong 26-6 oilfield has an average water depth of about 22 m.
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The Bozhong 26-6 oilfield has an average water depth of about 22 m.
On 10 March, West Akcakoca 1 reached 3839 m total measured depth and true vertical depth of 1677 m.
The company has entered into an agreement to divest 28% working interest in PL037 (Statfjord area) to OKEA with an effective date 01 January 2023.
The company has welcomed the UK Government’s decision to widen the gas entry specification limit, which will enable more North Sea gas to enter the country’s National Transmission System (NTS).
The company has announced that the Frosk field development in the Alvheim area has been completed and production has started on schedule and within budget, only 18 months after the Plan for Development and Operation (PDO) was submitted.
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North Sea flaring has been cut in half following four consecutive years of reductions driven by tough measures to make UK oil and gas production cleaner, new analysis shows.
The decision is for a three-pad development instead of the originally sought five drill sites and is coupled with ConocoPhillips relinquishing 68 000 acres of existing leases.
Economic impact analysis by Oxford Economics, published in Neptune’s Annual Report and Accounts, revealed the company’s overall European economic impact increased significantly in 2022.
The volumes are estimated at between 24 and 84 million boe, with slightly more oil than gas.
The well was drilled 10 km northwest of the Fram field and about 140 km northwest of Bergen.
The companies have achieved a major milestone in Brazil's offshore energy sector by completing the country's first-ever remote subsea inspection survey.