Offshore Production News


BW Energy Completes Two Production Wells Offshore Gabon

3 hours ago

Oslo-listed oil and gas company BW Energy has brought online the Gamba well DTM-7H as part of the Tortue Phase 2 field development in Gabon. The final well, DTM-6H, in the Dentale formation, is scheduled to come onstream in the coming days. Current…

Philippines Defends Malampaya Gas Deal with Duterte's Ally after Graft Complaint

Oct 19, 2021

The Philippines' energy ministry on Tuesday defended the sale of an oil and gas concession to a firm controlled by an ally of President Rodrigo Duterte, dismissing a graft complaint that alleged preferential treatment as 'malicious'.Udenna Corp…

Providence Resources CEO Resigns

Oct 19, 2021

Ireland-based oil and gas firm Providence Resources, which has for years been looking at ways to develop its Barryroe oil and gas discovery offshore Ireland, has now informed that its CEO Alan Linn is stepping down from the Board, and all subsidiary companies…

Indonesia Cuts Oil and Gas Production Targets

Oct 19, 2021

Indonesia has cut its oil and gas production targets for this year, officials at industry regulator SKK Migas told reporters on Tuesday, as the coronavirus pandemic impacted new projects.The oil lifting target for 2021 was cut to 665,000 barrels per day (bpd) from an earlier target of 705…

Opinion: Global Oil Market is Tight, Despite what Producers Say

Oct 18, 2021

Global petroleum inventories have fallen to their lowest seasonal level for seven years as producers have failed to raise output to match the rapid rebound in consumption since last year’s coronavirus-driven recession.In contrast to shortages in coal…

New Kupe Compressor to 'Allow Us to Suck Harder on the Straw,' NZOG CEO Says

Oct 15, 2021

Australian oil and gas company Beach Energy has completed work on the Kupe compression project in New Zealand, which will allow for the gas plant, which had seen declining production in recent years, to produce at full rate from the Kupe offshore gas field…

Lukoil, Gazprom Neft in Enhanced Oil Recovery Pact

Oct 15, 2021

Russian oil companies Lukoil and Gazprom Neft have struck a deal to cooperate in the area of oil recovery enhancement projects. 'The agreement provides for joint work on improving chemical methods of enhanced oil recovery. It will lay the foundation…

Oil Prices Hit a Fresh Three-year High on Supply Deficit Concerns

Oct 15, 2021

Oil prices hit a fresh three-year high on Friday, climbing above $85 a barrel on forecasts of a supply deficit over the next few months as rocketing gas and coal prices stoke a switch to oil products.Brent crude futures were up 80 cents, or 0…

Shah Deniz Field: Azerbaijan Signs New Gas Supply Deal with Turkey

Oct 14, 2021

Azerbaijan has signed a new deal with Turkey to supply gas from its giant offshore Shah Deniz I field, Azerbaijan's energy minister Parviz Shahbazov told Reuters on Thursday.Azerbaijan halted gas supplies from Shah Deniz I to Turkey in April after the contract expired…

Oil Rises on IEA Demand Forecast

Oct 14, 2021

Oil prices rose by about 1% on Thursday after the International Energy Agency said that record natural gas prices will boost demand for oil and top oil producer Saudi Arabia dismissed calls for additional OPEC+ supplies.Brent crude futures gained 87 cents…

BP to Buy All Oil Produced from Cliff Head Offshore Field (Australia)

Oct 14, 2021

BP Singapore has agreed to offtake crude oil produced from the Cliff Head oil field, offshore W. Australia.BP has signed a binding deal to buy the oil from the offshore oil field with the Cliff Head Joint Venture consisting of Triangle Energy and Pilot Energy…

Suriname's Staatsolie Pens 30-year PSC with Chevron for Offshore Block

Oct 14, 2021

Suriname state oil company Staatsolie on Wednesday said it had signed a 30-year production sharing contract with U.S. producer Chevron Corp for the South American country's offshore Block 5.Chevron Exploration Suriname Ltd and a consortium by TotalEnergies and Qatar Petroleum (QATPE…

Occidental Sells Stakes in Jubilee and TEN Fields Offshore Ghana

Oct 13, 2021

Occidental Petroleum Corp agreed to sell its interests in two Ghana offshore fields for $750 million to Kosmos Energy and Ghana National Petroleum Corp, the oil and gas producer said on Wednesday, as it looks to cut the debt it took on with its purchase of Anadarko Petroleum…

Putin: Russia Not Using Gas as a Weapon

Oct 13, 2021

President Vladimir Putin said on Wednesday Russia was not using gas as a weapon and was ready to help ease Europe's energy crunch as the region's bloc called an emergency summit to tackle skyrocketing prices.Energy demand has surged as economies have rebounded from the pandemic…

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BW Energy Completes Two Production Wells Offshore Gabon

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