Brian Larkin, CEO of United Oil & Gas (UOG), said the result of the El Salmiyah-5 well on the Abu Sennan concession in Egypt has significantly exceeded the company’s pre-drill expectations
Exploration & Production
TransGlobe Energy reports Q1 net loss of US$55.2mn.
Oil and gas company TransGlobe Energy has reported Q1 net loss of US$55.2mn (US$0.76 per share)
Sonatrach signs MOU with Russia’s Lukoil
Algeria’s Sonatrach and Russian company Lukoil have signed a memorandum of understanding (MoU)
Lebanon’s first offshore well fails
Total’s well offshore Lebanon has not been able to find a reservoir in the Tamar formation, which was the target of this exploration well
Global E&P revenues to fall by US$1 trillion in 2020: Rystad Energy
The devastating effect of the COVID-19 pandemic on global oil and gas exploration and production (E&P) companies is better understood by looking at the industry’s expected total annual revenues for 2020
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