The Briefing on Offshore Oil and Gas


Five numbers in offshore oil and gas


The UK’s offshore oil and gas sector has cut emissions by 3% in 2018 according to a new report by OGUK, at the same time as increasing production by 4%.


In 2018, there were 293 accidental oil and gas releases, amounting to 14 tonnes.

21,450 tonnes

There was 21,450 tonnes less drill cuttings discharged in the UK offshore sector.

Six million a day

Despite growth in production, the US still imports six million barrels of oil a day.


Since 1984, as much as 94% of the Outer Continetal Shelf in the US has been off limits to exploration.

Three projects starting this month

Eni discovers gas and condensate in Song Hong Basin offshore Vietnam

Italian oil and gas company Eni has announced that its exploration well located in Block 114, Song Hong Basin, offshore Vietnam has discovered the presence of gas and condensate in the Ken Bau prospect. The Italian company’s subsidiary, Eni Vietnam, is the operator of Block 114 with a 50% share, while Essar E&P holds the remaining 50%.

Aker BP discovers oil near Alvheim field in North Sea

Norwegian oil exploration and development company Aker BP has struck an oil column in the primary exploration target of 28 metres in sand layers in the wildcat well 25/2-21 (Liatårnet). Aker BP, the operator of production licence 442 in the North Sea, said that the discovery had good reservoir quality. The 25/2-21 well was the ninth exploration well in production licence 442, awarded in APA 2006.

Green Energy secures approval for Otakikpo field Phase II development

Green Energy International has obtained approval from the federal government for the field development plan and environmental impact assessment for Phase II development of Otakikpo marginal field in Oil Mining Lease OML 11 in Nigeria. The company has secured the approvals from the Department of Petroleum Resources the oil and gas industry regulator of Nigeria.

Four M&A’s

Inpex to acquire 40% stake in four blocks in Gulf of Mexico

Inpex US Offshore, a subsidiary of Japanese exploration and production (E&P) company Inpex, has signed an agreement with Anadarko Petroleum to acquire a 40% participating interest in Keathley Canyon blocks 921 and 965 and Walker Ridge blocks 881 and 925 in the US Gulf of Mexico.

Petrobras signs contracts to sell offshore fields for $1.5bn

Brazilian company Petrobras has signed two contracts for the sale of shallow-water oilfields in Campos and Santos Basins for $1.5bn. The company will sell 100% of its interest in the Pampo and Enchova clusters in shallow waters in the Campos Basin to Trident Energy’s subsidiary Trident Energy do Brasil for $851m.

Eni to sell 13.75% stake in three Kenyan blocks to Qatar Petroleum

Italian company Eni and Qatar Petroleum (QP) have signed an agreement under which the Qatari national oil company will acquire a 13.75% share in the exploration blocks L11A, L11B and L12 offshore Kenya. The proposed acquisition is subject to regulatory approvals by the Government of Kenya.

PGNiG buys 20% interest in North Sea gas field

PGNiG Upstream Norway, a subsidiary of Polish Oil and Gas Company, has acquired a 20% interest in the Duva field off the coast of Norway from Wellesley Petroleum. Situated within the PL636 and PL636B license area in the North Sea, the Duva field is an oil and gas development project discovered in 2016. The Norwegian Ministry of Petroleum and Energy approved the Duva plan for development and operation in June 2019.