Oil And Gas Prospects News

A surge in final investment decisions (FIDs) this year on new petroleum projects worldwide could see sanctioned volumes of oil and gas – excluding shale and tight oil and gas prospects – nearly triple compared to last year’s tally.The collective volumes could swell past 46 billion barrels of oil equivalent (boe), according to research conducted by Rystad Energy.“We expect global FID volumes in 2019 to triple over last year, and 2019’s megaproject awards could lead to billions of subcontracting dollars in coming years,” said Rystad Energy upstream research analyst Readul Islam.He added: “The only supply segment likely to shrink this year is the oil sands, whereas deepwater, offshore shelf and other conventional onshore developments are all poised to show substantial growth.

On July 24 this year, research vessel Geolog Dmitry Nalivkin sailed from Kirkenes (Norway) to the Kara Sea. In the next three months 2D seismic survey, will be carried out in the three Vostochno-Prinovozemelsky licenses. The field work will be conducted in the surface area that totals almost 7 thousand square kilometers, and its results will help identify and delineate drillable oil and gas prospects. A pre-project meeting was held on board of the vessel just before it sailed off to the site. Representatives of Karmorneftegaz (an ExxonMobil and Rosneft joint-venture that organizes the exploration program in the Rosneft licenses in Kara Sea) met with the specialists from the Marine Arctic Geological Expedition (MAGE) participating in the project to listen to their presentation.

Anadarko Petroleum Corp (APC.N) reports a quarterly profit compared with a year-earlier loss, as the U.S. oil and gas company's results were helped by higher natural gas prices, according to Reuters. Anadarko has big offshore oil and gas prospects, but like many other exploration and production companies, the Houston-based Anadarko is also working to increase output of crude from less expensive onshore shale wells in North America. The average sales price Anadarko received for natural gas in the quarter was $3.88 per thousand cubic feet equivalent, up 80 percent from a year ago, as inventories have fallen from record highs. Citing the company, Reuters add that Anarko had encountered oil at two of its Gulf of Mexico prospects, Raptor and Yucatan.

Gas and petroleum exploration company L&M Mining expects to launch its initial public offering to raise $23.2m this month. The plan is that the new company, floated on 20c shares, will be dual-listed on the New Zealand and Australian stock exchanges by the end of November. L&M is the largest and most aggressive of all the "junior" exploration companies in New Zealand, not only in oil and gas, but also in promoting the vast southern lignite resource as a potential petrochemical source. It has five permits covering Otago and Southland containing an estimated 2 billion tonnes of lignite, a separate venture from the proposed float. While juniors historically stake a prospect and undertake drilling to work up estimates of the target oil…