Neptune Energy has joined the Extractive Industries Transparency Initiative (EITI) designed to improve accountability for revenues paid and received for a country’s oil, gas and mineral resources. PUBLIC AWARENESS Signatories commit to reporting transparently their operations in EITI-supporting countries to help inform policymakers and raise standards of governance. “We are proud to help uphold the […]
Author: editorial
UKOG secures rig to drill Pinarova-1
UK Oil & Gas plc has secured a small rig to drill the new Pinarova-1 shallow oil exploration well at the Resan joint venture licence in the Siirt province, southeast Turkey. PRODUCTION The company will test shallow Eocene Hoya light oil prospect across some 9km² and 300-645m below surface. Pinarova lies beneath an active light […]
Corcel progresses PNG non-operating strategy
Corcel plc has restructured its nickel-cobalt assets in Papua New Guinea by signing a 50-50 joint venture (JV) deal to create a new carried vehicle. JOINT VENTURE JV partner Integrated Energy Metals (IEM) is a new American company whose website states is focused on building “a world class battery supply chain”. The companies will establish Integrated […]
Prospex awards 3.7m share options to PDMRs-staff
Prospex Energy plc has granted a total of 3,700,000 share options in the company to directors and other staff following the annual review of staff remuneration. OPTIONS The new options represent 1.30% of the Prospex’s current issued share capital, and take the total number awarded to staff and management to 14,346,897, representing 5.04% of the […]
Block plans extended well test following wellbore failure
Block Energy plc will start an extended well test for the first well in Project I caused by unstable wellbore conditions at the West Rustavi / Krtsanisi oil field in Georgia. WELLBORE FAILURE The company drilled the WR-B01Za well into the Middle Eocene reservoir, targeting productive “sweet spots” with high density oil-bearing natural fractures, based on […]
United to bring ASH-8 on stream at Abu Sennan
United Oil & Gas plc expects to bring the ASH-8 development well on stream after interpreting 22 metres of net oil pay in the primary reservoir target on the Abu Sennan licence, onshore Egypt. ASH-8 The well is the company’s first in its 2023 campaign and will start production through the existing ASH facilities on […]