Exploration Blocks News Today

Petroleum Division says minimum investment to be carried out by E&P companies will be over $33.3 million in 3 years

The Ministry of Energy’s Directorate General of Petroleum Concessions (DGPC) has provisionally awarded four new...

KUALA LUMPUR: Petronas launched the Malaysia Bid Round (MBR) 2021, offering 13 exploration blocks, at a virtual event on Feb 26 which attracted over 250 potential and existing investors. These potential bidders streamed live from North America, the United Kingdom, Europe as well as Asia-Pacific, the national oil company said. "MBR 2021, themed ‘Grow Your Energy Portfolio With Us’, is set to open up more investment opportunities for investors to explore and monetise hydrocarbon resource pote...

ONGC offers JV in exploration blocks to ExxonMobil SECTIONS Share Synopsis Exxon is likely to take a view after studying geological data, and a deal may take some time. ONGC is expected to offer a significant minority stake to Exxon in these blocks. Getty Images ONGC signed a preliminary agreement with ExxonMobil in October 2019 that proposed joint technical studies and cooperation in difficult oil fields, the Indian firm’s existing exploration blocks and joint bidding for new acreages. INSI...

>> paul: lets take this in turn. off shore in libya, 900 million dollar project. bp said it was something like, equivalent of 2000 blocks, exploration blocks in the gulf of mexico. >> oh, its absolutely enormous because these are oil blocks right off the coast which libya itself doesnt have to take-- the libyan oil company doesnt have the technology to explore, but they need a big western oil company who can do the deep water drilling. the question, how did bp get itself to get these contracts. ...

Drilling is very big, something like a $900 million project. its a big contract. >> bp said waits 2000 -- equivalent of 2000 blocks exploration blocks in the gulf of mexico. >> these are oil blocks off the coast. libya doesnt have -- libyan oil company doesnt have technology to explore. they need a big western oil company that can do the kind of deep-water drilling. the question is how did bp gets he itself to get these contracts? >> that is the question. the british deny any qid pro quo. bp den...

>> paul: lets take this in turn. off shore in libya, 900 million dollar project. bp said it was something like, equivalent of 2000 blocks, exploration blocks in the gulf of mexico. >> oh, its absolutely enormous because these are oil blocks right off the coast which libya itself doesnt have to take-- the libyan oil company doesnt have the technology to explore, but they need a big western oil company who can do the deep water drilling. the question, how did bp get itself to get these contracts. ...