China National Offshore Oil Company (CNOOC) has started oil production from its Bozhong 34-9 offshore oil field.The field, sitting in the south of the Bohai Sea in water depth of 18 meters, will at plateau produce 22,500 barrels of oil per day…
A project to create a new “21st century” electrified oil production hub in the UK North Sea was unveiled Tuesday (February 11) reflecting a convergence of efforts to unlock marginal fields and decarbonize the offshore hydrocarbon industry.The…
The energy companies that own Israel's offshore Leviathan gas field are seeking partners to build a floating liquefied natural gas (FLNG) platform and possibly to explore for oil in ultra-deepwater, a CEO from the group said. Leviathan, one…
Kosmos Energy has said that it has, with its partners in the offshore Senegal/Mauritania Greater Tortue Ahmeyim project, signed a deal to sell 2.45 million tonnes per annum of LNG to BP's subsidiary BP Gas Marketing.The sales and purchase agreement is valid for an initial term of up to 20 years…
Chevron has hired Aquaterra Energy for the design and support installation of a Sea Swift offshore platform at an offshore field in Angola.Destined for the Lifua-A field, the conductor supported platform (CSP) will be designed and installed in 60m of water…
A latest research revealed that the upstream sector accounted for the bulk of mergers and acquisitions (M&A) in the global oil and gas industry in 2019, generating some high-value transactions during the process.According to GlobalData's theme report…
Oslo-based energy market intelligence firm Rystad Energy has slashed its global oil demand forecast for 2020 by a quarter, citing the impact of the novel coronavirus.Rystad has pointed to the fact that the coronavirus epidemic in China has triggered…
Oil major BP has awarded subsea services specialist Oceaneering a contract for the provision of riserless light well intervention services in Angola.Oceaneering, which has described the contract award as meaningful, will provide the services at BP's offshore Angola Blocks 18 and 31…
Oil firms Aker BP and Equinor are close to resolving their dispute over how to develop a cluster of oil and gas discoveries in the so-called NOAKA area of the North Sea, Aker BP said on Tuesday. The new engineering design initially comprises 506 million barrels of oil equivalents (boe)…
Norway's Equinor has said that the new gas module recently put on the Troll C platform in the North Sea will accelerate and boost production from the nearby Fram field 'by substantial profitable volumes.'The Fram oil deposits in the North Sea comprise the Fram Vest and Fram Øst fields…
Brazil's Petrobras hit a new production record in the fourth quarter, of over 3 million barrels of oil equivalent per day (boepd), thanks largely to the ramp-up of platforms in the prolific pre-salt formation, the state-run oil firm said on Monday…
Norway's Aker BP beat fourth-quarter profit forecasts on Tuesday and said it expects its oil and gas output to jump 36% in 2020, the first full year of production from the giant Johan Sverdrup oilfield.Chief Executive Karl Johnny Hersvik said…
Guyana is aiming to complete talks with the Exxon Mobil Corp-led consortium producing oil off its coast over crude pricing, lifting costs, and scheduling before the government exports its first cargo, energy director Mark Bynoe said on Monday…
Activity in the deepwater sector took a huge hit in the second half of last decade as a result of a global oil demand/supply imbalance, downturn in oil prices, hiatus in Petrobras production floater orders and large industry cutbacks in upstream spending…
Azerbaijan plans to increase natural gas production this year, but slightly lower oil production due to the level of existing reserves, the vice president of state energy company SOCAR said in an interview. Yashar Latifov told Reuters the country planned to produce 38…