Oil And Gas News

 

QatarEnergy Takes Share of Chevron-Operated Block Offshore Suriname

Jul 18, 2024

QatarEnergy has signed an agreement with Chevron to acquire a 20% working interest in a production sharing contract for block 5 offshore Suriname.Pursuant to the signed agreement, Chevron as the operator will retain a 40% interest, while Paradise Oil Company…

Santos Indicates Growth Projects are Progressing Well Despite Q2 Revenue Dip

Jul 17, 2024

Santos said on Thursday growth projects were making good progress, with flagship Barossa natural gas development now 77% complete as Australia's second-largest fossil fuel producer makes attempts to speed up its ambitious forward strategy.Barossa…

US Court Overturns Alaska Oil Lease Sale

Jul 17, 2024

A federal court in Alaska overturned on Tuesday night an oil and gas lease sale that had been mandated by the Biden administration's signature climate law as part of a political compromise, on grounds that the U.S. government violated the law when holding the sale…

South Korea's SK Innovation Agrees Merger with SK E&S as Part of Overhaul

Jul 17, 2024

SK Innovation, parent of South Korea's largest oil refiner and battery maker SK On, said on Wednesday it will merge with energy affiliate SK E&S as the nation's No. 2 conglomerate undertakes a major overhaul to boost profitability.The move, which creates a 100 trillion won ($72…

Diamond Offshore to Complete Upgrades on Its Drillships by Year-End

Jul 17, 2024

U.S.-based offshore drilling company Diamond Offshore has made progress on the installation of Managed Pressure Drilling (MPD) equipment on its drillships, set for completion by the end of 2024.In early 2024, Diamond Offshore introduced MPD supervisors offshore to optimize operations…

French Company Secures Work On $4B Cedar FLNG Scheme

Jul 16, 2024

Samsung Heavy Industries has hired French engineering company GTT for tank design of a new floating liquefied natural gas (FLNG) unit as part of $4 billion Cedar LNG project in Canada.As part of the contract with Samsung Heavy Industries, GTT will design the tanks of the FLNG…

CNOOC’s Ultra-Deep Well in Bohai Bay Outperforms Target

Jul 16, 2024

China’s state-run China National Offshore Oil Corporation (CNOOC) has informed that its first ultra-deep well in Bohai Bay achieved ‘high yield’, outperforming the targets set earlier.The Bozhong 19-6 condensate gas field D1 well, said to be…

CNOOC Reports Major Oil and Gas Breakthrough in Bohai Bay

Jul 15, 2024

China's state-owned oil and gas firm CNOOC said on Monday it achieved an exploration breakthrough in Bohai Bay, with a discovery well tested to produce about 210 cubic meters of crude oil and nearly 1 million cubic meters of natural gas.The…

Ramco Hooks Long-Term Pipe Servicing Contract with Equinor

Jul 15, 2024

Ramco Norway, specialists in the preparation, inspection, surface treatment, and preservation of OCTG (oil country tubular goods), has secured a long-term contract with Equinor, set to bring in $11.2 million (NOK 120 million) annually for the company…

Senegal President Says Oil Contracts Will be Renegotiated

Jul 15, 2024

Senegalese President Bassirou Diomaye Faye said on Saturday the West African country planned to renegotiate its oil contracts, saying it could have negotiated better on the contracts.Faye, who defeated the ruling coalition candidate in a landslide election victory in March…

Kuwait Announces 'Giant' Oil Discovery

Jul 15, 2024

Kuwait Petroleum Corporation (KPC) said on Sunday it had made a 'giant' oil discovery in the Al-Nokhatha field east of the Kuwaiti island of Failaka, with oil reserves estimated at 3.2 billion barrels.KPC's CEO Sheikh Nawaf Saud Nasir Al-Sabah…

Saipem Secures $500M Offshore Job in Saudi Arabia

Jul 15, 2024

Italian offshore energy services firm Saipem has secured work two offshore projects in Saudi Arabia, under the existing long-term contract with Saudi state-owned oil and gas giant Saudi Aramco.Saipem’s scope of work under the first project involves the engineering…

Esgian Week 28 Report: Rig Activity Robust

Jul 14, 2024

Esgian provides an update on rig activity and discoveries in its Week 28 Rig Analytics Market Roundup.Report SummaryDrilling Activity and DiscoveriesThe Norwegian Ocean Industry Authority (Havtil) has given Equinor consent for exploration drilling in blocks 32/4 and 32/7 in the North Sea…

Shell's Bet on Gas Boom Takes Shape with String of Deals

Jul 12, 2024

Shell has replaced liquefied natural gas (LNG) volume it lost after exiting Russia in 2022 with a string of deals that underpin CEO Wael Sawan's bet on growing demand for the fuel as he reduces the focus on renewable energy.The new projects…

FPSO Newbuild for Petrobras’ Búzios Field Taking Shape in China

Jul 12, 2024

China’s state-owned ZPMC Qidong Marine Engineering has launched the bow section of the P-82 floating production storage and offloading (FPSO) unit, being built by Seatrium for Petrobras’ Búzios field offshore Brazil.The bow section of the N1151 (P-82) FPSO…

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