Subscribe to our free daily newsletters
  Oil and Gas News from OilGasDaily.Com  




Subscribe to our free daily newsletters



OIL AND GAS
Statoil finds at least 25 million barrels of oil in the North Sea
by Daniel J. Graeber
Washington (UPI) Oct 9, 2017


At least 25 million barrels of oil were uncovered while drilling into the British waters of the North Sea, Norwegian energy company Statoil said Monday.

The company said it made a new oil discovery while drilling into Verbier basin in British waters. Preliminary data show the field contains between 25 million and 130 million barrels of recoverable oil.

Statoil said the discovery solidified the future for a maturing basin in the North Sea, where it believes significant potential remains.

"Significant work remains, most likely including appraisal, to clarify the recoverable volumes and to refine this range [of the reserve potential]," Jez Averty, a vice president for exploration, said in a statement.

The Verbier results were the only success for Statoil in a three-well effort in the region.

Statoil started work in the British waters of the North Sea last year, working alongside British energy company BP. The Norwegian energy company said its Mariner field in the region holds an estimated 250 billion barrels of oil and peak production should be around 55,000 barrels of oil per day, with first oil expected in production by next year.

The maturation of some of the basins in the North Sea has prompted some companies to shift strategies. BP in April sold off some of its legacy holdings as it reconfigured its regional operations by parting ways with a pipeline system tied to Forties crude oil, a component of the Brent basket.

After awarding contracts to rig company Transocean for the North Sea earlier this year, Statoil said British waters still have a long life of ahead.

The company said Monday it would work now to assess the commercial prospects for the new discovery at Verbier.

OIL AND GAS
Shell defends divestment efforts, but cancels sale in Thailand
Washington (UPI) Oct 4, 2017
While defending a robust spending program, Royal Dutch Shell said Wednesday it was canceling an agreement to sell off a stake of its assets in Thailand. Subsidiaries of Shell and the Kuwait Foreign Petroleum Exploration Co. said they mutually agreed to cancel the multilmillion dollar sale of shares in Shell Integrated Gas Thailand Pte. Ltd., known also as SIGT, and Thai Energy Co Limite ... read more

Related Links
All About Oil and Gas News at OilGasDaily.com


Thanks for being here;
We need your help. The SpaceDaily news network continues to grow but revenues have never been harder to maintain.

With the rise of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don't have a paywall - with those annoying usernames and passwords.

Our news coverage takes time and effort to publish 365 days a year.

If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution.

SpaceDaily Contributor
$5 Billed Once


credit card or paypal
SpaceDaily Monthly Supporter
$5 Billed Monthly


paypal only

Comment using your Disqus, Facebook, Google or Twitter login.

Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle

OIL AND GAS
Breakthrough in direct activation of CO2 and CH4 into liquid fuels and chemicals

Surrounded by potential: New science in converting biomass

Olive mill wastewater transformed: From pollutant to bio-fertilizer, biofuel

Bioreactors on a chip renew promises for algal biofuels

OIL AND GAS
Saudi Arabia opens bid for 'utility scale' solar project

Scientists propose new way of increasing the efficiency of solar batteries

Governor Brown Sends SCE to CEC Investigation and ABC Solar Files CPUC Petition to Censor SCE

India gets lending support for a greener grid

OIL AND GAS
Germany gets economic lift with wind energy

French energy company to build wind power sector in India

Finding better wind energy potential with the new European Wind Atlas

Last of the 67 turbines for a British wind farm installed

OIL AND GAS
New 'molecular trap' cleans more radioactive waste from nuclear fuel rods

Largest Nuclear Training Center In France Opens Its Doors

BWXT awarded contract extension for nuclear waste facility operations

UAE to open Arab Gulf's first nuclear reactor in 2018

OIL AND GAS
Auditor slams Canada on lack of climate actions

Drought not dingos behind mainland Australia tiger extinction: study

Cost of climate disasters to reach half of US growth in a decade: report

Science denial not limited to political right

OIL AND GAS
The U.S. needs at least twice as many charging points for EV

Uber competitor hits Paris roads with Chinese help

UK car sales skid lower in September on poor consumer confidence

Renault plans China growth, more electric vehicles

OIL AND GAS
Iraq flight ban halts dig for lost ancient city

Iraq forces retake centre of IS bastion Hawija: army

Iraq forces claim recapture of IS-held areas near Hawija

Shiite pilgrims throng Iraq's Karbala for mourning ritual

OIL AND GAS
Will anti-nuclear campaigners win Nobel Peace Prize?

Negotiating with North Korea a waste of time: Trump

US and North Korea: To talk or not to talk?

Nuclear accord with Iran in US interest: Mattis




Memory Foam Mattress Review
Newsletters :: SpaceDaily :: SpaceWar :: TerraDaily :: Energy Daily
XML Feeds :: Space News :: Earth News :: War News :: Solar Energy News






The content herein, unless otherwise known to be public domain, are Copyright 1995-2017 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement