Successive changes to Romania’s regulatory framework governing the oil and gas sector have made for an uncertain investment climate, according to GlobalData.
Several hundred offshore oil and gas wells could cease production by 2021 in the face of today’s bearish oil market.
The endorsement follows a decade of efforts by Equatorial Guinea to join the initiative, which seeks to address key governance issues of transparency and accountability in the extractive sectors.
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Adam Johnson, director of Leeds-based Tudor International Freight, said the proposed blueprint for the period following UK withdrawal from the bloc was unlikely to be adopted for various reasons.
The fall in the country’s crude oil production is poised to carry over into 2019, according to Rystad Energy.
BSOG, together with its co-venture partners, are pleased to announce that they have approved the FID to proceed with the Midia Gas Development Project, offshore Black Sea.
The company has made a significant gas condensate discovery on the Brulpadda prospects, located on Block 11B/12B in the Outeniqua Basin, 175 km off the southern coast of South Africa.
The company has appointed Nizami Musayev as Area Manager in Russia as the company aims to grow its presence in the region.