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Lundin Petroleum spuds appraisal well on the Alta discovery in the Barents Sea South

Lundin Petroleum AB (Lundin Petroleum), through its wholly owned subsidiary Lundin Norway AS (Lundin Norway), is pleased to announce that drilling of appraisal well 7220/11-2 in PL609 has commenced. The Alta discovery is located 10 to 20 km northeast of Lundin Petroleum's Gohta discovery in the Bar... Wednesday, March 25, 2015

BG Group produces first oil from the Knarr field in Norway

BG Group (LSE: BG.L), a world leader in exploration and LNG, today announced the Petrojarl Knarr floating production, storage and offloading (FPSO) vessel had started production from the Knarr oil field in the North Sea, offshore Norway. The FPSO has been leased from Teekay Corporation (NYSE: TK) a... Wednesday, March 18, 2015

Sterling Resources provides update on the Breagh and Cladhan fields, UK

Calgary, Alberta, Canada, March 12, 2015 - Sterling Resources Ltd. (TSX-V: SLG) announces an update on Breagh field operations and Cladhan field development, reserves and valuation. Sterling is also delivering an updated corporate presentation at the Pareto E&P conference today. Breagh Since the b... Thursday, March 12, 2015

GDF SUEZ announces Central North Sea oil discovery

GDF SUEZ E&P UK Ltd and its co-venturers today announced a new discovery in the UK Central North Sea. The 22/16-6 well on the Dalziel structure flowed at rates in excess of 8,000 barrels of oil equivalent per day. The well is now being side-tracked to appraise the extent of this discovery. Block 22/... Thursday, March 12, 2015

Lord Browne appointed head of DEA's Supervisory Board

After the acquisition by LetterOne, the Hamburg based upstream company RWE Dea has a new owner, a new supervisory board and gets a new name. LetterOne is a privately owned Luxembourg-based global investment vehicle focused on utilizing its financial resources, management and investment expertise. A... Tuesday, March 3, 2015

€5.1 billion sale of RWE Dea completed

The LetterOne Group and RWE AG today completed RWE's sale of RWE Dea AG to LetterOne. In January, both parties had announced their plans to complete the transaction at the beginning of this month. The agreed enterprise value is approximately €5.1 billion based on current exchange rates. Due to ... Monday, March 2, 2015

RWE Dea increases production volumes and plans further exploration in Egypt

RWE Dea doubled its oil and gas production in Egypt. North Africa is a strategic core region for Dea. The company is one of the leading foreign investors in Egypt and produces oil and gas in the country for 30 years by now. RWE Dea is presenting applied technology highlights and recent projects at t... Wednesday, December 10, 2014

RWE Dea awarded two new concessions in Egypt

In the International Bid Round 2013, RWE Dea has been awarded two new offshore concessions with operatorship by the Egyptian General Petroleum Corporation (EGPC). The concessions are located in the Gulf of Suez, where the company is producing oil as operator for more than 30 years. Dea will become ... Thursday, September 18, 2014

Sterling Resources announces successful Breagh well A07 fracture stimulation and well test

Sterling Resources Ltd. (TSX-V: SLG) advise that fracture stimulation and production testing of Breagh well A07 have been successfully completed. After several days of flowing the well to clean it up, the well was production tested at a stabilized rate of 32 million standard cubic feet per day (100... Monday, June 16, 2014

RWE Dea Norge completes Titan appraisal well

RWE Dea Norge AS, operator of production licence (PL)420, is completing drilling operations on appraisal well 35/9-11-S and sidetrack 35/9-11-A on the Titan discovery, 16 kilometres west of the Gjøa Field in the North Sea. The purpose of the well was to delineate the Titan discovery towards ... Wednesday, May 28, 2014

Petrofac awarded US$970m Reggane North Development Project

Petrofac, the international oil and gas services provider, has been awarded a 36 months, of execution, contract worth more than US$970 million for the gas gathering, treatment and export facilities package (EPCCS1) of the Reggane North Development Project (Reggane) located in the Reggane basin of th... Friday, May 16, 2014

Croatia pins hopes on Adriatic offshore riches

The government of Croatia has dared to move into dire straits by welcoming foreign investors to bid for concessions in its offshore zone in the Adriatic Sea. Taken at face value, the proposal is logical, essential and conducive to the inherent interests of this Balkan state struggling for the last ... Tuesday, May 13, 2014

Ukraine wants to buy European gas to boost energy security

Ukraine hopes to buy gas from Europe to shore up its energy security, fearful Russia will cut gas supplies over Kiev's refusal to pay Moscow's "political, uneconomic price" for supplies, its energy minister said on Friday. Yuri Prodan told parliament the European Union would stand... Friday, April 11, 2014

Oil & Gas M&A reaches US$33.4 billion in Q1 2014

The recent absence of major Chinese involvement and eroding profitability in the oil and gas industry has led to M&A reaching just $33.4 billion in Q1 2014, 28% lower than the average quarterly M&A spend over the past three years. The lower M&A value is also mirrored in the deal count of 205 deals d... Thursday, April 3, 2014

Berlin will not block deals with Russia by DEA and Wintershall

The German government will not object to the sale of utility RWE's oil and gas production arm DEA to investors led by Russian tycoon Mikhail Fridman, a deputy minister said on Wednesday after some politicians had questioned the deal. Critics of the sale argue against increasing German dependenc... Wednesday, April 2, 2014

German Economy Minister says no alternative to Russian gas

German Economy Minister Sigmar Gabriel said there was "no sensible alternative" to Russian natural gas imports and it was unlikely Russia would stop deliveries because of the crisis over Ukraine, a German daily reported on Friday. "Even in the darkest hours of the Cold War Russia res... Friday, March 28, 2014

RWE entered into an agreement to sell RWE Dea

RWE AG and LetterOne Group have today agreed terms for the sale of RWE Dea AG at an enterprise value of some € 5.1 billion and on the major contractual conditions. They will clarify the further details shortly in order to enter into the sale and purchase agreement. The enterprise value includes... Monday, March 17, 2014
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