GPS News  
OIL AND GAS
Mixed results from new North Sea drilling
by Daniel J. Graeber
Washington (UPI) Oct 3, 2017


The Norwegian government said Tuesday it confirmed a discovery of oil and gas in the North Sea, but said efforts to find new reserves in untested waters failed.

The Norwegian government published data Tuesday from an appraisal well drilled by Aker BP, a merger of Norwegian energy companies and a subsidiary of BP, about 7 miles away from the producing Froy filed in the North Sea. The Norwegian Petroleum Directorate said the company ran through a column of oil measuring 44 feet and confirmed it as a discovery.

Before drilling, the company estimated the well held about 63 million barrels of recoverable oil and 70 million cubic feet of natural gas.

"Analyses are ongoing to confirm the resource estimate," the NPD said in a statement.

A separate wildcat well, one drilling into an area not previously known to hold reserves, was classified by the NPD as dry, with only "traces of petroleum." Recent efforts by drillers working in the Barents Sea had similar results.

Aker BP reported first quarter production of 145.3 million barrels of oil equivalent, an increase of 14.8 percent from the previous quarter. Most of the company's output came from the Alvheim license area, which draws oil using a floating production facility from four fields in the central North Sea.

The company said it expects to produce between 135 million barrels of oil equivalent and 140 million barrels of oil equivalent per day for all of 2017, an upward revision of about 5 percent. Full-year production costs were estimated at $10 per barrel of oil equivalent, a downward revision of about 9 percent.

Apart from Russia, Norway is one of the leading energy suppliers to the European economy, designating nearly all of its offshore production for exports. The NPD reported preliminary production figures for August were lower than expected.

OIL AND GAS
OPEC-member Libya still in turmoil, EU report finds
Washington (UPI) Oct 1, 2017
A European memo on the status of stability in OPEC-member Libya warns that progress in the war-torn country may be limited. The EUobserver reported Monday it obtained access to a "restricted" report from the European Union's Border Assistance Mission in Libya that describes lingering fractures remaining in Libya six years after civil conflict led to the death of long-time ruler M ... 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
Planet-warming methane from livestock underestimated: study

Global network of botanical gardens contain a third of all known plant species

Bulgarian village goes Chinese in yoghurt craze

Climate insurance is rarely well thought out in agriculture

OIL AND GAS
Head of Taiwan microchip giant TSMC set to retire

New quantum computer chip uses sounds waves to store data

Move towards 'holy grail' of computing by creation of brain-like photonic microchips

Laser can control a current in graphene within one femtosecond

OIL AND GAS
Airbus opens first plane-completion centre in China

A beautiful wing design solution inspired by owl feathers

Pilot shortage plagues Air Force

Boeing to manufacture additional F/A-18s for U.S. Navy

OIL AND GAS
General Motors targets 20 all-electric models by 2023

Tata wins bid to make electric cars for Indian government

Paris experiments with 'car-free day' across the city

Rubber meets road for Pirelli's market comeback

OIL AND GAS
Chinese manufacturing accelerates for second straight month

$37.7 million bowl sets Chinese ceramic auction record

Macau casino scion rolls dice on Japan venture

US commerce secretary hopeful about Trump-Xi trade talks

OIL AND GAS
Forest loss means tropics emit more carbon than they trap: study

Brazil scraps bid to mine Amazon natural reserve

American oaks share a common northern ancestor

Forest fires are not limited to hot or temperate climates

OIL AND GAS
Scientists monitor Silicon Valley's underground water reserves - from space

OSIRIS-REx views Pacifica on Earth Flyby

How aerial thermal imagery is revolutionizing archaeology

A Box of 'Black Magic' to Study Earth from Space

OIL AND GAS
Creative use of noise brings bio-inspired electronic improvement

Assembly of nanoparticles proceeds like a zipper

Application of air-sensitive semiconductors in nanoelectronics

A new kind of optical nanosensor uses torque for signal processing









The content herein, unless otherwise known to be public domain, are Copyright 1995-2024 - 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. General Data Protection Regulation (GDPR) Statement Our advertisers use various cookies and the like to deliver the best ad banner available at one time. All network advertising suppliers have GDPR policies (Legitimate Interest) that conform with EU regulations for data collection. By using our websites you consent to cookie based advertising. If you do not agree with this then you must stop using the websites from May 25, 2018. Privacy Statement. Additional information can be found here at About Us.