conventional drilling declines

Companies Opting For Shorter Cycle Times As Conventional Projects Decline

Recent IHS Markit report says a significant rebound in discoveries may not happen because since 2014 there has been an increased emphasis on exploring less risky maturing basins and short cycle-time unconventional projects.

BP Agrees To Sell Egyptian Assets To Dragon Oil

Reuters reported last month that London-based BP was nearing the sale of the Egyptian assets to Dragon Oil for over $600 million, citing industry and banking sources.

Canadian Natural Resources To Temporarily Shut In Oil Production Due To Wildfires

Oil and gas producer Canadian Natural Resources Ltd. said on Friday it would temporarily shut-in about 65,000 barrels per day (bbl/d) of crude oil production due to forest fires in Alberta.

Layers of sedimentary sandstone rock are shown. (Source: SAPhotog/

Geology Lessons Could Hold Key To Success Offshore Guyana, Suriname

Geologist provides food for thought as companies target the Guyana-Suriname Basin following the Exxon Mobil-led winning streak.

Potential offshore Namibia continues to attract oil and gas companies. (Source:

BW Offshore Open To Solutions Offshore Namibia

The operator of a long-stalled project remains optimistic and patient as the area attracts major players such as Exxon Mobil and Total.

Uganda Launches Second Round Of Competitive Bidding For Oil Blocks

Uganda launched its first oil block auction in 2015, covering six exploration areas measuring 2,674 sq km.

China’s CNODC To Buy 10% In Novatek’s Arctic LNG 2

China National Oil and Gas Exploration and Development Co. (CNODC) has signed a binding agreement with Russia’s Novatek to buy a 10% stake in the Arctic LNG 2 project, Novatek said on April 25.

Israel Electric Agrees To Interim Natural Gas Deal With Leviathan Field

State-run Israel Electric Corp. (IEC) has chosen the Leviathan gas field off Israel's Mediterranean coast for a short-term natural gas supply deal, saying it would lower its costs by up to $175 million.

Algeria Amends Hydrocarbon Law To Attract Foreign Investors

Algeria Amends Hydrocarbon Law To Attract Foreign Investors

The first circulated draft of the much anticipated hydrocarbon law in Algeria, has shown that the government has loosen up the law in a move that aims to attract more foreign investors to the energy sector in Algeria. The question is, will it be passed amid contentious political transition?

ADNOC Awards Japan’s Inpex Corp. Onshore Exploration Concession

Abu Dhabi National Oil Co. (ADNOC) awarded Japan’s Inpex Corp. an onshore exploration concession in Abu Dhabi's competitive block bid round, ADNOC said in a statement on March 17.