Thursday 18 September 2014
 
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exploration

Dearth of oil finds threatens long-term supplies

Explorers are finding so little oil, many are retreating from high-risk frontier areas to safer bets like North American shale, executives at a major Norway oil conference said. This will likely force them to buy expensive discoveries once inv

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Dana Gas inks Egypt exploration deal

Dana Gas, a leading regional private sector natural gas company, has signed an exploration deal for the North El Arish (Block 6) Concession Area, offshore the eastern Nile Delta. The 2,980 sq km block was awarded in April 2013 as

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Firms plan drastic cut on oil exploration spend

Global oil firms, hit by one of the worst years for discovery in two decades, are about to cut exploration spending, pulling back from frontier areas and jeopardising their future reserves, industry insiders say. Notable explorati

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Sabic in Mauritania iron ore venture

Saudi Basic Industries Corp (Sabic), a leading petrochemical group, is carrying out new iron ore exploration in northern Mauritania. The feasibility study and exploration at Atomai Mines in Zouerate is part of a joint venture agre

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Oil firms step up exploration in Morocco

Oil companies are stepping up exploration in Morocco, attracted by its stability relative to other parts of North Africa and encouraged by advances in geology and technology that indicate its potential for reserves offshore. Indep

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Middle East oil, gas exploration 'declines'

Middle East oil and gas production growth prospects have been dimmed by a slump in exploration license awards, drilling activity and average reserves found per well over the last few years, according to analysts Wood Mackenzie. &n

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Qatar in talks to buy German oil exploration firm

A state-owned Qatari entity has held initial talks with German utility RWE about buying its DEA oil and gas exploration and production unit, the Wall Street Journal reported on Thursday, citing two people familiar with the matter.

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Over 30 trillion cu ft offshore gas in Lebanon

Offshore seismic surveys suggest Lebanon has at least 30 trillion cubic feet in just a small fraction of its Mediterranean waters, Energy Minister Gebran Bassil said. Lebanon has selected 46 international oil companies to bid to e

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Dana Gas wins Egypt oil exploration deal

Dana Gas, a leading regional private sector natural gas company, said it has won a major oil exploration contract from the Egyptian Natural Gas Holding Company and has also been pre-qualified as a non-operator in Lebanon’s first offshore l

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Kuwait petro firm launches $750m loan

Kuwait Foreign Petroleum Exploration Company (Kufpec) has launched its first syndicated loan in five years with a $750 million deal, two sources close to the deal said. The deal will be Kufpec's largest ever syndicated loan, a

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