Management
Preliminary estimates indicated recoverables of between 30 million and 110 million BOE at the discoveries, which Equinor called its largest of the year.
The decision keeps the effective tax rate on upstream projects at 78%, prompting new warnings that investments will continue to dwindle in the UK Continental Shelf.
Adura will become the UK North Sea’s largest independent producer by combining 12 key oil and gas assets, employing around 1,200 staff. It aims to produce more than 140,000 BOED in 2026.
-
Find could hold as much as 130 million BOE. -
The $32-million deal nets producer proved reserves of 3.2 million BOE.
-
Nation also changes fiscal regime to attract new investment.
-
New terms would allow contractors more than 50% equity share in some new blocks.
-
BP, QatarEnergy and Zarubezhneft were among the other winners.
-
The energy ministry instructed a shutdown following Hamas missile strikes.
-
Total structure discovered could hold as much as 5 Tcf of gas in place.
-
The best wells in which to find lithium are in old conventional fields where rusty pump jacks are pulling out mostly water.
-
A gold strike was announced in October. But in this case the gold was naturally occurring hydrogen in a former coal basin in France.
-
As money pours into the space, questions arise about whether the method of removing carbon from the atmosphere is the best investment.
