(Oil Price) – Exxon Mobil Corp. (NYSE:XOM) will drill a well off Cyprus in January in pursuit of natural gas, a senior executive told Reuters on Thursday. “We’ve spent the last two years collecting very detailed, three dimensional seismic data … We’ve identified several large prospects, and the next stage is to bring in a drilling rig and to test those,” said John Ardill, Vice-president for
(World Oil) – (WO) — HSM Offshore Energy, a leader in the EPCIC of multidisciplinary offshore renewable projects, has successfully rolled out the THOR OHVS (Offshore High Voltage Substation) and lifted the GIS modules for RWE Renewables at its Schiedam yard in the Netherlands. Upon completion, THOR, with a planned capacity of 1058 MW, will stand as Denmark’s largest offshore
(Investing) – LONDON -Oil prices steadied on Tuesday as the restart of production at Norway’s Johan Sverdrup oilfield offset investor concerns about an escalation in the Russia-Ukraine war. Equinor resumed partial production from the North Sea oilfield, Western Europe’s largest, after a power outage there helped lift oil prices by over 3% on Monday. Brent crude futures were down 12 cents, or
(World Oil) – Halliburton announced it will open new facilities in Namibia highlighting the importance of the country’s growing oil and gas industry. The facilities, which will support the company’s in-country operations, are located in Windhoek, Walvis Bay, Swakopmund and Lüderitz. With a combined footprint of 20,000 m², the facilities create a strong presence in the region. The Windhoek office will
(Oil Price) – The UK’s energy regulator Ofgem on Friday awarded a $2.5 billion (£2 billion) funding package for a subsea and underground cable between Scotland and northern England that would give North Sea wind farms additional access to the grid. Eastern Green Link 1 (EGL1) will be a high voltage electricity superhighway able to transport 2 gigawatts (GW) of UK wind-generated electricity
(Oil Price) – Saipem has won a $1.9-billion contract from TotalEnergies for engineering, procurement, construction, and installation (EPCI) at the $10.5-billion GranMorgu oil project offshore Suriname, the Italian engineering group said on Thursday. Saipem will work on the engineering, procurement, supply, construction, installation, pre-commissioning, and assistance for the commissioning and start-up of the Subsea Umbilicals, Risers and Flowlines (SURF) package at the project,
(Oil Price) – QatarEnergy has signed an agreement to buy a 23% working interest in a concession agreement offshore Egypt from the block’s operator Chevron, the state firm of Qatar said on Monday. QatarEnergy will acquire 23% of the North El-Dabaa (H4) Block in the Mediterranean from Chevron, which will retain a 40% interest in the concession. The other partners on the block
(Oil Price) – U.S. oil producer Apache plans to cease oil production at its assets in the UK North Sea by 2030, due to the windfall tax on operators. Apache’s parent company APA Corporation said in an SEC filing that its assessment of the impact of the windfall tax, officially known as the Energy Profits Levy (EPL), resulted in findings that continued production
(World Oil) – As the political landscape shifts with the election of President-elect Trump, the promise of American offshore energy remains unwavering. From the robust oil and gas production in the Gulf of Mexico to the burgeoning offshore wind projects, carbon capture and storage investments, and critical minerals sectors, American energy production continues to benefit every citizen, transcending political affiliations.
(Oil Price) – Tropical storm Rafael has strengthened to hurricane intensity in recent hours and is still set to continue its path toward the U.S. Gulf of Mexico, where oil and gas producers have shut-in production at platforms and evacuated personnel to shore. The late-season hurricane could threaten about 4 million barrels per day (bpd) of oil production in the Gulf of Mexico, according
(World Oil) – SLB today announced the award of a contract by bp to its OneSubsea joint venture for a subsea boosting system in the greenfield development of the Kaskida project in the deepwater U.S. Gulf of Mexico. This award marks the latest milestone in the long-standing relationship between SLB OneSubsea and bp and is the first engineering, procurement and
(World Oil) – The National Petroleum Corp. of Namibia aims to triple its stake in future oil and gas projects to 30% as the southern African nation is set for a surge in activity following multiple offshore discoveries. Namcor is “committed to actively participating in future oil and gas projects and generally aims to secure a minimum stake ranging between 20%
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