Ocean Energy Resources

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Kuwait to tap oil firms for offshore fields

Fossil Energy – Development Discoveries

Kuwait’s prime minister Ahmad Abdullah al-Ahmad al-Sabah said last week that Kuwait Petroleum Corporation plans to invite international oil companies to assist Kuwait Oil Company in developing the recently announced offshore oil and gas discoveries.

Al-Sabah added in his opening remarks at the Kuwait Oil and Gas Show that KPC is in talks with global financial institutions to establish a lease and lease-back of Kuwait’s domestic crude oil pipeline network.

In January, sources told Reuters that Kuwait was set to launch an oil pipeline network stake sale as soon as February in a deal that could raise to $7 billion.

Kuwait’s oil minister Tariq Al-Roumi told Reuters on Monday that he expects tenders for the Durra oil and gas field project, in cooperation with Saudi Arabia, to be launched this year.

Chevron signs MoU with Libya’s NOC

Fossil Energy – MoU

Chevron has signed a memorandum of understanding (MoU) with Libya’s National Oil Corporation (NOC) to evaluate potential oil and gas exploration and development opportunities, supporting the country’s efforts to boost hydrocarbon production.

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Bulgaria takes 10% stake in Black Sea oil and gas exploration consortium

Fossil Energy – Bulgaria

“The cheapest gas is our gas,” energy minister Stankov says as Bulgaria acquires a 10% stake in the Black Sea consortium exploring for oil and natural gas in the Han Asparuh offshore block.

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Norway braces for Oil and Gas slowdown as investment falls

Fossil Energy – Norway

Norway’s offshore oil and gas production is expected to remain broadly stable in 2026, but a sharp decline in investment is signalling a slowdown in activity and a gradual fall in output later this decade, the country’s energy regulator said on Thursday.

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Eni makes gas discovery offshore Indonesia

Fossil Energy – Indonesia

Eni has made a gas discovery in the Konta-1 exploration well, drilled in the Muara Bakau Production Sharing Contract (PSC) in the Kutei Basin, offshore Indonesia.

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