Wintershall Aktiengesellschaft (WIAG), a crude oil and natural gas producer, and Libya’s National Oil Corporation (NOC) have signed two exploration and production sharing agreements (EPSAs) for Areas 91 (former Concession 96) and 107 (former Concession 97) in the onshore Sirte Basin
Exploration & Production
Rystad Energy: Big E&P spending still needed
Energy projects that need oil prices above US$60 per barrel in order to break even risk being uncommercial going forward, according to the Norwegian energy research firm Rystad Energy
Petrofac to collaborate on global wells programme
Petrofac’s Engineering and Production Services division (EPS) has signed a well management contract under Maersk Drilling’s master alliance agreement with Seapulse Ltd, an exploration company
Total enters Libya’s Waha Concessions
French major Total and Libya’s National Oil Corporation (NOC) have signed an agreement to implement Total’s participation in the Waha concessions, located in the Sirte Basin in Libya
East Mediterranean may hold around 25 tcf of natural gas reserves
Based on currently available geophysical data, the Lebanese government estimates that the offshore oil and gas frontier areas in the East Mediterranean may hold around 25 tcf of natural gas reserves, though this has yet to be proven
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