Production News

Without Sharp Rise in Exploration, World Will Face Long-term Oil Supply Gap

Dec 15, 2020

Inadequate investment in exploration and new drilling may leave the world without enough oil in 20 to 30 years despite a shift towards renewable power sources, top energy analysts say.The long-term outlook contrasts with today's situation where…

CNOOC Brings Online Bohai Sea Oil Field

Dec 14, 2020

China's CNOOC said Monday that its Penglai 25-6 oilfield area 3 project has started production ahead of schedule.The Penglai 25-6 oilfield area 3 project is located in the south central Bohai Sea, with average water depth of about 27 meters…

Equinor Starts Production at Snorre Expansion Project

Dec 14, 2020

Equinor on Saturday, December 12, kicked off production from its Snorre Expansion Project in the North Sea, offshore Norway.The project, which will add almost 200 million barrels of recoverable oil reserves and help extend the productive life of the Snorre field through 2040…

Video: The Floating Production Market Faces Headwinds, But Opportunities Exist

Dec 11, 2020

There are around 200 offshore oil and gas projects currently being planned for development using a floating production system, however, at around $2B apiece – some up to $5B – final investment decisions will depend on the market situation and the outlook for oil and gas doesn’t seem too bright…

China: CNOOC Starts Infill Drilling at Weizhou 6-12

Dec 11, 2020

Chinese oil giant CNOOC has kicked off infill drilling operations at its Weizhou 6-12 Fields of Block 22/12, Beibu Gulf, offshore China.The news was shared Friday by CNOOC's partner Horizon Oil, which said that the two well infill drilling program…

Engie Solutions, Smulders JV to Build Another Substation for Dutch Offshore Wind Sector

Dec 11, 2020

Dutch power grid operator TenneT has ordered the offshore wind transformer substation Hollandse Kust (west Alpha) from the Engie Solutions-Smulders joint venture.This contract follows a similar one signed earlier this year, when the construction…

Aker Solutions, Equinor Sign $114M LoI for Kristin Sør Subsea Production System

Dec 11, 2020

Norwegian offshore oilfield equipment maker Aker Solutions has signed a letter of intent with compatriot Equinor for the delivery of a subsea production system to the Kristin Sør oil and gas satellite fields offshore Norway.The contract value is about NOK 1 billion ($114…

Brazil: Karoon Offloads First Oil Cargo as Bauna Field Operator

Dec 10, 2020

Australia's Karoon Energy has offloaded its first oil cargo from the  Baúna offshore oil field in Brazil it recently bought from Petrobras.The shipment produced by the FPSO Cidade de Itajaí, amounted to over 500,000 barrels of oil.The cargo…

Amazon, Ørsted Ink Europe's Largest Offshore Wind Power Purchase Deal

Dec 10, 2020

E-commerce and cloud computing giant Amazon has signed a 10-year corporate power purchase agreement with offshore wind firm Ørsted.In what has been described as Europe's largest ever offshore wind power purchase deal, Amazon has committed to…

Africa Energy VP: Luiperd Offshore Discovery Proof South Africa is a World-class Hydrocarbon Spot

Dec 09, 2020

French oil major Total in October struck its second significant discovery offshore South Africa, at the Luiperd-1X well.Luiperd well was drilled to a total depth of about 3,400 meters and encountered 73 meters of net gas condensate pay in well-developed good quality Lower Cretaceous reservoirs…

Hibiscus Pushes North Sea Field Development FID to March 2021

Dec 09, 2020

Malaysian oil and gas operator Hibiscus Petroleum has said that the final investment decision for the development of its Marigold cluster in the UK North Sea, will be made in March 2021, and not in December 2020, as previously expected, citing Covid-19 effects…

U.S. Gulf of Mexico Operator Lifts Output Guidance

Dec 09, 2020

Following a record-breaking hurricane season in the U.S. Gulf of Mexico, with several production shut-downs across the region, oil and gas firm W&T Offshore on Tuesday increased its oil output forecast for the fourth quarter of 2020.The company…

Norway Approves Aker BP's Hod Field Development Plan

Dec 08, 2020

The Norwegian authorities have approved Aker BP's development and operation plan for the Hod field in the Norwegian part of the North Sea.Aker BP submitted the plan for development and operation of the Hod offshore field to the Ministry of Petroleum and Energy in June…

MAN Compressors for Senegal's First FPSO

Dec 08, 2020

Japanese FPSO contractor Modec has ordered six compressors from MAN Energy Solutions for an FPSO destined for Woodside-operated Sangomar field, offshore Senegal.Sangomar, located approximately 100 km south of Dakar, Senegal, together with the nearby Rufisque and Sangomar Offshore blocks…

Santos in 10-Year Barossa Gas Sales Deal with Mitsubishi

Dec 07, 2020

Australia's no. 2 independent gas producer Santos Ltd said on Monday it signed a 10-year agreement to supply liquefied natural gas (LNG) from its Barossa project to a unit of Japan's Mitsubishi Corp.Santos will supply Diamond Gas International 1…

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