Oil And Gas Field

Oil giant Chevron sells assets worth $6.5 bn to Canadian Natural Resources

The all-cash transaction, which is expected to close in the fourth quarter, is a part of its strategy to divest $10 billion to $15 billion of assets by 2028

Govt offers two discovered oil and gas fields in special bidding round

The government has offered two discovered oil and gas fields in Mumbai offshore and a coal bed methane field in West Bengal for bidding in the latest Discovered Small Fields (DSF) bid round, regulator DGH said on Monday. In a notice on its website, the Directorate General of Hydrocarbons (DGH) said, notice inviting offer will be launched on May 28 and bids will close on July 15. "With the objective to augment domestic production of Petroleum and Natural Gas, the Ministry of Petroleum & Natural Gas, Government of India announces the Special DSF Bid Round offering two (02) Discovered Small Field located in Mumbai Offshore (MB/OSDSF/C37/2024 & MB/OSDSF/B15/2024) and one (01) Discovered Coal Bed Methane field located in West Bengal (SR-ONCBM (Raniganj)-2024) through International Competitive Bidding (ICB)," it said. It however did not give details like reserves. Those may be included in the NIO. DSF was launched in 2016 and since then three rounds have been held. In the first ...

Energy consortium bids in Lebanon's licensing round for oil, gas blocks

The consortium last month began drilling an exploratory well in Lebanon's Block 9, one of the blocks falling alongside the newly delineated maritime border between Lebanon and Israel

Kirit Parikh panel recommendations: 'Remove caps on gas prices by 2027'

The committee has also recommended a ceiling price of $6.5 per mmBtu, which may be increased yearly by about $0.5 per mmBtu till 2027, Parikh said

'Marketing, pricing freedom must for catalysing investments in gas fields'

Pricing and marketing freedom are a must to ensure billions of dollar investment as costs of finding and producing natural gas from deposits lying several hundred metres below seabed are market driven, producers have told a government-appointed panel reviewing gas pricing. In an investor call post announcement of company's second quarter earnings on October 21, Sanjay Roy, senior vice-president for exploration and production, Reliance Industries Ltd, stated that producers are being represented by Association of Oil and Gas Operators (AOGO) at the panel whose report is expected in the next few weeks. "Potentially, the upstream producers are saying that there should be marketing and pricing freedom, pursuant to the policies and the contracts," he said. "The counter to elevated prices is increment to production, as we have seen in the case of KG-D6, and these investments will have to happen in frontier areas where there seems to be larger potential for such investments." Reliance and i

Israel and Lebanon reach 'historic' deal on gas fields, says report

Israel has said gas production from Karish in the eastern Mediterranean will enable it to increase exports, including to Europe.

Small oil and gas field operators ask govt for exemption from windfall tax

The central government from July 1, 2022, levied a tax on crude and petroleum products to capture supernormal profits of energy companies amid a sharp rise in global oil prices

US to spend $33 million to clean oil and gas wells on federal land

Infrastructure plan recently signed into law by President Joe Biden will go toward cleaning up 277 of an estimated 15,000 abandoned oil and gas wells on federal land

German chancellor kicks off trip to Senegal for gas exploitation project

Senegal is believed to have significant deposits of natural gas along its border with Mauritania at a time when Germany is trying to reduce their dependence on importing Russian gas

MEIL wins order for 47 oil and gas rigs from ONGC, to commission 15 by May

'In spite of Covid-19, MEIL is committed to completing the project with its expertise, dedication and hard work'

OVL has right to 30% stake in Iranian gas field, say officials

The field holds 23 trillion cubic feet of in-place gas reserves, of which about 60 per cent is recoverable

ONGC seeks partners to raise production from 43 oil, gas fields

State-owned Oil and Natural Gas Corp (ONGC) on Thursday invited bids from private companies for handing over operations of 43 small and marginal oil and gas fields with a view to raising production.

Energy-starved Bangladesh discovers new gas field worth over $148 mn

Bangladesh has announced to have discovered a new gas field containing a probable reserve of about 68 billion cubic feet worth over $148 million

Strong explosion rocks Caspian Sea sector near Azerbaijani gas field

A strong explosion shook Caspian Sea area where Azerbaijan has extensive offshore oil and gas fields and column of fire rose late Sunday, but state oil company said none of its platforms were damaged

Third round of discovered small field auctions begins

Production from DSF-1 Elao field in Cambay basin expected to being in a weeks

Government offers 32 areas in latest small oil, gas field auction

India is the world's third biggest oil importer and consumer

Govt challenges Panna-Mukta field arbitration before English High Court

The government has challenged an arbitration award over a cost recovery dispute in the western offshore Panna-Mukta and Tapti oil and gas fields of Shell and Reliance Industries Ltd.

Reliance, BP start production at Satellite Cluster ahead of schedule

The second of the three deep-water gas developments, planned jointly, was expected to start production in mid-2021

Oil and gas production continues to elude discovered small fields

Officials from many new entrants to India's upstream oil and gas exploration sector point fingers towards delays in clearances and faulty data

Saudi Arabia's Aramco announces discovery of four new oil and gas fields

Saudi Arabia announced the discovery of four new oil and gas fields, the Saudi Press Agency reported