1. Norway grants oil and gas exploration licenses to 61 mature areas
Norway has issued 61 offshore exploration licenses to 30 companies in the latest round of annual license round for oil and gas exploration in mature continental shelf areas, including 34 production licenses in the North Sea, 24 in the Norwegian Sea and 3 in the Barents Sea, Norway’s Ministry of oil and Energy announced on Tuesday.
2. Spirit energy awarded wood UK offshore gas field 5-year comprehensive service contract
Wood, a global engineering and consulting firm, has entered into a new agreement with spirit energy to cooperate on the post-treatment options for the Morecambe Bay gas field. The five-year integrated service contract is worth US $130 million. Wood will use its experience and ability in asset optimization and management in the later stage to extend oilfield life, reduce costs and reduce carbon emission intensity in the later stage. The mocham Bay gas field is one of the largest in the UK.
3. New oil discovery in the Gulf of Mexico
Kosmos Energy announced on Tuesday that it has discovered an oil well in the Winterfell infrastructure led exploration well in the Gulf of Mexico and will work with partners to develop an assessment plan and development plan.
The US Energy Information Agency (EIA) said on its website that the Gulf of Mexico is one of the most important energy resources and infrastructure areas, both on land and at sea. Federal offshore oil production in the Gulf of Mexico accounts for 17% of U.S. crude oil production, according to the EIA.
4. The French central bank has promised to limit oil and gas investment by 2024
The Banque de France announced plans to phase out most of its investment in oil and gas companies by 2024, making it the first central bank in Europe to set a timetable for substantial cuts in financial support for fossil fuels.
5. Rio Negro province of Argentina plans to resume 400 oil wells
Andrea Confini, Argentina’s energy minister, said Rio Negro hopes to restore about 400 oil and gas wells (low productivity wells and idle wells) in the province in the next five years through a tax promotion plan. The project is aimed at the current operators and oil production companies in the region.
6. The U.S. Department of the interior has granted nine leases to Alaska’s Arctic National Wildlife Reserve
On January 19, the U.S. Bureau of land management released leases for nine sites that were eligible to bid for in the January 6 oil and gas lease sale of the Arctic National Wildlife Reserve. The leases were issued the day before President elect Biden was sworn in. Biden has said that he is opposed to exploration and development in the Alaska reserve. Although the lease issued is difficult to be revoked, any exploration and development plan will need the permission of Biden’s Department of the interior, which may pose a challenge to new lessees.
7. UAE oil giant wants to cooperate with us shale gas company
Sultan Ahmed al Jaber, chief executive of the Abu Dhabi National Oil Company (ADNOC), said ADNOC was seeking to establish partnerships with US companies to develop the UAE’s unconventional oil resources.
UAE is one of OPEC’s major oil producers, and hopes to increase its production capacity and eventually increase crude oil production after OPEC + production cuts. Abu Dhabi’s supreme Petroleum Council announced in November last year that Abu Dhabi has 22 billion barrels of unconventional oil reserves so far.
Post time: Jan-20-2021