Region: Europe Category: Oil and Gas Frequency: Every Thursday
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About: EurOil analyses key trends such as the influx of private equity into the North Sea and how it is shaping the basin's future. The monitor also provides key insight on major trends such as decommissioning and the development of frontier regions like West of Shetland. Midstream developments also take prominence, with deep analysis of the region's gas needs and how they will be met in the future.
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Norway’s Equinor discovers up to 10.3mn boe of gas at Gullfaks South
Norway's Equinor has discovered between 3.3mn and 10.3mn barrels of oil equivalent of recoverable gas at the Gullfaks South field in the North Sea, the company hailing its success in cost-effective exploration around existing offshore infrastructure.
Transocean adds $1.1bn to drilling backlog with Norwegian offshore contracts
Offshore drilling contractor Transocean has added approximately $1.1bn to its firm contract backlog following the approval of a major drilling agreement with Equinor (OSE:EQNR) and a new contract with Shell offshore Norway.
Ireland’s Ryanair warns high jet fuel prices could persist until 2028
European airlines could face elevated jet fuel costs and higher ticket prices well into 2028 as disruptions to global refining and fuel supplies caused by the Middle East conflict continue, according to CEO O'Leary.
Norway’s DOF wins $15–25mn North Sea subsea decommissioning contract
Norwegian offshore services company DOF Group has secured a contract worth between $15mn and $25mn to carry out subsea decommissioning work across multiple oil and gas fields in the North Sea.
Weatherford secures contract extensions and offshore completions award from Equinor in Norway
Under the agreements, announced on October 8, Weatherford will become the primary provider of completion systems for the Statfjord and Oseberg licences on the Norwegian Continental Shelf.
SLB secures 15-year digital drilling agreement with TotalEnergies
US oilfield services company SLB has secured a 15-year agreement with France's TotalEnergies to deploy its DrillPlan digital well planning and engineering technology across the energy major's global upstream operations.
IGU warns fragmented methane regulations could disrupt global gas trade
The IGU has called for greater international coordination of methane regulations, warning that inconsistent compliance requirements could create barriers to natural gas trade and investment.
Kazakhstan weighs $500mn exploration consortium with Chevron, Shell and Chinese oil firms
Kazakhstan is in talks with US, British and Chinese oil companies to establish a consortium for geological exploration, with preliminary investment estimated at around $500mn.
EU faces 14 bcm winter gas shortfall as storage remains at record low
It could force a 7% reduction in consumption, according to the IEEFA.
TGS and Galdor partner to identify overlooked Norwegian North Sea prospects using AI
Norwegian energy data company TGS has signed a strategic agreement with newly established Galdor Exploration to use AI and advanced subsurface data to identify overlooked oil and gas exploration opportunities in the North Sea.
Eni's Liverpool Bay CCS project in UK reaches halfway mark
Italy's Eni has completed installation of what it describes as the world's first purpose-built offshore carbon capture and storage platform in Liverpool Bay.
Carlyle withdraws from Russian oil firm Lukoil’s asset sale as US-backed bidders emerge
US private equity firm Carlyle Group is no longer actively pursuing the acquisition of Russian oil producer Lukoil's international assets.
EU faces 14 bcm winter gas shortfall as storage remains at record low
It could force a 7% reduction in consumption, according to the IEEFA.
EU faces 14 bcm winter gas shortfall as storage remains at record low
It could force a 7% reduction in consumption, according to the IEEFA.
Germany to release up to 15mn barrels from oil reserves under G7 agreement
Germany plans to release up to 15mn barrels of crude oil and refined petroleum products from its strategic reserves as part of a G7-backed effort to alleviate fuel shortages and contain soaring energy prices.
Slovakia seeks talks with EU on extending Russian gas imports beyond 2027
Slovakia plans to negotiate with the European Commission over extending imports of Russian natural gas beyond the European Union's 2027 phase-out deadline.
Framo signs major Brazil’s Petrobras deal covering 30 offshore platforms
Norwegian pump manufacturer Framo has secured a four-year agreement to service pumping equipment across approximately 30 floating production, storage and offloading vessels (FPSOs) operated by Brazil’s Petrobras.
World powers cannot let Black Sea become new front in Russo-Ukrainian war, says Turkey’s foreign minister
World powers must not allow the Black Sea to be turned into a new front in the Russo-Ukrainian War, Turkish Foreign Minister Hakan Fidan said on October 8.
Polish power groups and KGHM agree to cooperate in critical infrastructure security
Poland's four major power groups - Orlen, Enea, PGE and Tauron - and copper producer KGHM signed an agreement on October 7 on cooperation in the field of critical infrastructure security, aimed at faster threat detection.
Halliburton rules out work on the Falklands’ Sea Lion project, drilling to begin in early 2027
US oilfield services company Halliburton has ruled out any involvement in the Sea Lion oil project near the Falkland Islands, saying it has consulted Argentine federal authorities over potential criminal and civil enforcement.
EIA raises Azerbaijan 2027 oil output forecast to 530,000 barrels a day
The US Energy Information Administration (EIA) forecasts Azerbaijan's average oil production in 2027 at 530,000 barrels a day, up 10,000 barrels a day from its September projection of 520,000 barrels a day.
Polish fuel trader Unimot creates defence hub around PZL Sędziszów, plans its IPO
Warsaw-listed fuel trader Unimot announced on October 6 a plan to build an integrated defence group around newly acquired company PZL Sędziszów and ultimately float it on the Warsaw Stock Exchange.
Turkey stands to significantly gain from oil pact with Iraq, say analysts
Turkey stands to make significant gains from an anticipated oil pact with Baghdad that replaces a decades-old deal governing Iraq’s northern crude exports, according to quoted analysts.
Centrica, Ksi Lisims LNG enter HoA for long-term LNG supply
The UK’s Centrica Energy has entered into a heads of agreement to buy 1mn tonnes per year of LNG from the proposed Ksi Lisims project in Canada.
Apache workers back UK North Sea strike as Forties disruption risk disputed
More than 160 offshore workers employed by Apache have backed strike action in a pay dispute covering seven UK North Sea installations.
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