Britain's Shell and Trinidad's National Gas Company (NGC) will pay Venezuela no less than 45% of gross revenues from the Dragon gas production project off Venezuela's coast, according to license terms published on Saturday.In December, Venezuela…
China's state-run offshore oil and gas explorer and producer CNOOC has started production from its Suizhong 36-1/Luda 5-2 discovery, located in Liaodong Bay of Bohai Sea.The main production facilities include two new central processing platforms and two new wellhead platforms…
Longboat JAPEX Norge, a joint venture of Longboat Energy and Japan Petroleum Exploration (JAPEX), has completed the acquisition of interests in producing fields offshore Norway.Longboat Energy, an oil and gas exploration and production company with activities in Norway and Malaysia…
French energy major TotalEnergies has has signed an agreement with Austria’s OMV to acquire its 50% interest in Malaysian independent gas producer and operator SapuraOMV Upstream for $903 million.The transaction includeds the transfer of a $350 million loan granted by OMV to SapuraOMV…
Italy’s Eni and its majority-owned Vår Energi have completed the acquisition of Neptune Energy and its entire portfolio of oil and gas assets, except the company’s business in Germany.Vår Energi completed the acquisition of Neptune Energy Norge along with its Norwegian oil and gas assets…
The North Sea Transition Authority (NSTA) has offered 24 licenses in the second tranche of the U.K.’s 33rd oil and gas licensing round for 17 separate companies among which are Shell, Equinor, BP, TotalEnergies and NEO.On January 31, 2024, NSTA…
Saudi Aramco on Tuesday said it was asked to cut its planned maximum sustainable oil production capacity to 12 million barrels a day (bpd), having raised it to 13 million bpd almost four years ago.The move in no way reflects a change of view…
Malaysian FPSO leasing firm Yinson Production has appointed TMC Compressors to supply a large marine compressed air system for FPSO Agogo, which will be operated by Azule Energy, a BP-Eni joint venture, on a development offshore Angola.Under the contract…
Brazil's state-run oil company Petrobras has reached total oil and natural gas production of 2.78 MMboed in 2023, which is an increase of 3.7% from the production recorded a year before.Commercial production of oil and natural gas was 2.44 MMboed and oil production 2…
President Joe Biden paused pending approvals of exports from new liquefied natural gas (LNG) projects on Friday, a move cheered by climate activists that could delay decisions on new plants until after the November 5 election.The Department…
Asia-focused oil and gas company Jadestone Energy has signed a heads of agreement with PetroVietnam Gas Joint Stock Corporation (PV Gas) for the gas sales and purchase agreement (GSPA) relating to the Nam Du and U Minh gas fields offshore Vietnam…
The performance tests on Eni’s Coral Sul floating LNG (FLNG) unit offshore Mozambique, led by Technip Energies, have confirmed the requirements of LNG production of above 3.4 million tons per year.Following the completion of the performance tests…
Portuguese oil and gas Galp has set out plans to drill another well using Odfjell Drilling-managed semi-submersible rig Hercules, after discovering significant column of light oil at Mpane-1x well in Namibia’s PEL 83 block.Galp (80%, operator)…
Australian oil and gas company Karoon Energy has revised oil production forecast for its Baúna Field offshore Brazil, as it prepares for SPS-88 well intervention to resolve the issues relating to equipment on the Cidade de Itajaí FPSO.Due to operational issues encountered at its Baúna Field…
Malaysia’s Petronas has awarded Production Sharing Contracts (PSCs) for six exploration blocks and one Discovered Resource Opportunities (DRO) cluster under the Malaysia Bid Round 2023.The awards are expected to garner more than $275 million (RM 1…
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