US giant ExxonMobil and Italy’s Eni signed a US$2.8 billion cash deal that will see ExxonMobil acquire 25% indirect interest in the natural gas-rich Area 4 block, offshore Mozambique. Map of Area 4…
Anadarko is planning to drill up to 10 exploration/appraisal wells in the deepwater Gulf of Mexico, Côte d'Ivoire, and Colombia this year, the company announced today (8 March). Anadarko CEO Al Walker…
Norwegian cylindrical floating production unit designer Sevan Marine won a long-term framework agreement with US supermajor ExxonMobil. Sevan Marine has been working with ExxonMobil since 2015, when it was given a feasibility study to…
Large upstream projects are more often delivered by a group of partners rather than a single 100% owner. This spreads project risks and can also make it possible to finance megaprojects, which could be beyond the capacity of any single player…
With UK subsea exports valued at almost US$6.31 billion (£5 billion), Subsea UK is encouraging British firms to set their sights on international expansion to sustain long-term growth. The industry body is urging companies to strengthen trade partnerships across the globe…
The floating production systems market remains challenging. Will cost-cutting measures made over the past two years help projects reach final investment decision in 2017? Infield’s Catarina Podevyn assesses the market. Johan Castberg…
Samsung Heavy Industries (SHI) has won the first offshore drilling project for Korean shipbuilders in 18 months, with an order for BP's Mad Dog II project in the US Gulf of Mexico. The US$1.27 billion order is for a floating production unit (FPU) weighing 58…
As OE takes a look back on the year that was 2016, our website's most popular stories pretty much tell everything you need to know. It has been a depressing year for the industry with too many job cut announcements, rigs and vessel stacked (or sold)…
Mozambique’s emerging LNG business may be picking up after a quiet period. John Sheehan reports on progress made, including Eni’s Coral FLNG project. An Anadarko employee. Images from Anadarko…
Eni is a step closer to moving ahead with its 16 Tcf deepwater Coral discovery development offshore Mozambique following investment approval from its board of directors. Eni's board has approved the first phase of development, called the Coral South project…
Capital investment in the oil and gas industry in Sub-Saharan Africa has been cut by US$100 billion over the next five years, according to Wood Mackenzie's latest report on upstream activity in the region. Major oil companies are heavily…
A flurry of major gas discoveries in East Africa in 2012 shone a spotlight on the region. Four years later, while efforts to bring some of those resources to market via LNG developments are progressing, the exploration effort offshore appears to be in the doldrums…
It took a long time for exploration to make its impact offshore East Africa. Now it has, will there be another wait for LNG projects to look profitable? Professor Alex Kemp reflects. Image from iStock…
French geoscience firm CGG has been awarded an extensive multi-client program by the Instituto Nacional de Petroleo (INP) to acquire seismic data offshore Mozambique. The multi-survey program is designed to improve industry insight into…
EIC’s Neil Golding outlines activity in East and South Africa. Houston-based independent Anadarko made its first gas discovery at the Offshore Area 1 block offshore Mozambique in 2010. The discovery, along with Eni’s major finds, mean…
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