Tag Archives | Exploration

BP to resume operations in Libya

BP is to resume exploration activities in Libya that it suspended because of last year’s uprising, re-starting a relationship which under ousted Libyan leader Muammar Gaddafi landed the firm in the centre of a political storm. BP’s return is a milestone in the recovery of Libya’s energy sector, though this was tempered by an announcement […]

Shell To Exit Libyan Oil, Gas Blocks

Royal Dutch Shell PLC on Monday said it was exiting its Libyan exploration blocks amid insecurity and harsh contracts, the first such move since Gadhafi’s overthrow. The Anglo-Dutch giant insisted it was still interested in the country, which holds Africa’s largest oil reserves. But the move casts a cloud on Libya’s oil recovery as Shell had […]

Libya resumes offshore exploration-NOC

Libya has resumed offshore exploration for the first time since the end of Muammar Gaddafi’s era, and the work is being carried out at a bloc operated by Italy’s Eni, the National Oil Corporation NOC) said on Monday. “The National Oil Corporation announces the resumption of exploration activity in the maritime area next to Tripoli […]

Libya resumes exploration works, rises crude output

Libya has resumed oil exploration activities, and its crude output has climbed to 1.4 million barrels per day, while gas production is now at 2.3 billion cubic feet per day, the National Oil Corporation (NOC) said on Monday. “The National Oil Corporation announced on Monday the return of exploration activity in Libya. Seismic surveys at […]

Germany’s Wintershall ramps up Libyan oil output: CEO

Wintershall, the second-largest foreign oil firm in Libya before the civil war, has boosted output in the country to three times what it was in the fall, but ageing pipeline infrastructure is limiting its production capacity, its CEO told Reuters. The company, the oil and gas unit of German chemicals group BASF, used to produce […]

Sonde seeks partner to develop Zarat

Canadian independent Sonde Resources is looking for a partner to help fund its development of a block off North Africa, either through a joint venture or a stake sale, the company’s chief executive said. Sonde announced on Monday that it had received a one-year extension on the first phase of its exploration efforts in the […]

BP, Shell Preparing for Resumption of Libyan Oil Exploration

BP Plc and Royal Dutch Shell Plc, Europe’s biggest oil companies, aim to resume exploration in Libya, whose new government seeks to stabilize relations with foreign companies following the ouster of Muammar Qaddafi. BP Chief Executive Officer Robert Dudley and Shell CEO Peter Voser said yesterday in Doha, Qatar, they’re evaluating resumption of drilling at […]

BP, Shell Plan to Resume Exploration, Boost Production in Libya

BP Plc and Royal Dutch Shell Plc, Europe’s biggest oil companies, aim to resume exploration in Libya, whose new government seeks to stabilize relations with foreign companies following the ouster of Muammar Qaddafi. Both companies are evaluating whether to resume drilling at wells begun in the North African state before the outbreak of hostilities at […]