Offshore Production News


Petrobras 2Q Oil Output Flat on Maintenance Stoppages, Divestments

Jul 23, 2021

Brazil's state-run oil company Petrobras on Thursday presented flat production numbers in the second quarter, as the ramp-up off some major platforms was largely offset by maintenance stoppages and divestments.In a securities filing, Petroleo Brasileiro SA…

Shell Brings Online Barracuda Gas Project Offshore Trinidad and Tobago

Jul 22, 2021

Shell has started production from Block 5C in the East Coast Marine Area (ECMA) off Trinidad and Tobago. Block 5C, also known as Project Barracuda for which the FID was announced in January 2020, is a backfill project with approximately 25,000…

Shell Eyes Sale of Stakes in Malaysian Offshore Oil and Gas Fields

Jul 22, 2021

Royal Dutch Shell launched the sale of its stakes in oil and gas fields it does not operate off the coast of Malaysia, according to a document seen by Reuters.The Anglo-Dutch company announced in March that it was considering selling its stakes…

Santos Sees Revenue Jump, Raises Output Forecast

Jul 22, 2021

Australia's Santos Ltd increased the lower end of its annual production outlook on Thursday and reported a 37% jump in second-quarter revenue, helped by higher prices and increased demand for natural gas.The country's second-largest independent…

Svitzer Nets 10-Year Deal for Towing Services at Offshore LNG Terminal in the Philippines

Jul 21, 2021

Maersk's Svitzer, a maritime towage provider, has recently signed a 10-year deal with FGEN LNG, a First Gen subsidiary, for towage and other vessel support services required by FGEN LNG’s Offshore LNG Terminal in the Philippines.The LNG Terminal…

Norway's June Oil Output Below Expectations

Jul 21, 2021

Norway's oil production lagged official expectations in June, preliminary data from the Norwegian Petroleum Directorate (NPD) showed on Wednesday.NPD cited technical problems and maintenance outages as reasons for the lower-than-expected production…

Harbour Energy Delays North Sea Field Start-Up as Platform Issues Found

Jul 21, 2021

London-listed oil and gas Harbour Energy has hit a snag with the start-up of its Tolmount offshore gas field in the UK North Sea, as electrical systems issues were found during the testing of the recently delivered offshore platform. The start-up…

IOG: Elgood Well Output Rates Better Than Expected. Mechanical Issues to Delay First Gas

Jul 19, 2021

UK North Sea-focused oil and gas company IOG, working to develop gas fields in the Southern North Sea, has shared the results of its first development well being drilled as part of Phase 1 of its Core project. The company said the output rates were above expectations…

OPEC+ to Boost Oil Supply from August

Jul 19, 2021

OPEC+ ministers agreed on Sunday to boost oil supply from August to cool prices which have climbed to 2-1/2 year highs as the global economy recovers from the coronavirus pandemic.The group, which includes OPEC countries and allies like Russia…

OPEC: Expects Global Oil Demand to Reach Pre-pandemic Level in 2022

Jul 16, 2021

OPEC forecast on Thursday that world oil demand would rise in 2022 to reach a level similar to before the pandemic, led by growth in the United States, China, and India.The Organization of the Petroleum Exporting Countries said in its monthly report that demand next year would rise by 3…

Jadestone Energy Set to Complete Buy of SapuraOMV's Peninsular Malaysia Assets

Jul 16, 2021

Jadestone Energy, an oil and gas production company focused on the Asia Pacific region, has received all the necessary approvals - including one from Petronas - to complete the acquisition of SapuraOMV's Peninsular Malaysia assets.Jadestone said in April it would acquire interests in four licenses…

Nigerian Senate OKs Bill to Attract Investment in Oil Sector

Jul 15, 2021

Nigeria's senate approved a reconciled version of a bill on Thursday aimed at attracting billions in investment to its aging oil sector, capping a two-decade bid for reforms, just as investors begin to look beyond fossil fuels.The overhaul governs…

Oil Prices Drop on Expected Supply Increase

Jul 15, 2021

Oil prices fell on Thursday, extending losses as investors braced for increased supplies after a compromise deal between leading OPEC producers and as U.S. fuel stocks rose, raising concerns over demand in the world's largest consumer.Brent crude dropped 52 cents…

South Korea's DSME to Build Offshore Platform for Al-Shaheen Field in Qatar

Jul 15, 2021

South Korea's Daewoo Shipbuilding & Marine Engineering (DSME) has won an order to build a fixed offshore platform for the Al-Shaheen oil field in Qatar.The order, worth around KRW 725.3 billion ($635,3 million) was made by the North Oil Company (NOC)…

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