Peak Well Systems News

 

Malampaya Gas Field Exceeds Export Capacity Amid Grid Demands in Philippines

Apr 19, 2024

Prime Energy has informed that the Malampaya offshore gas field in the Philippines was able to deliver more than its export capacity as the grid of the country’s Luzon island was placed on red and yellow alerts.Prime Energy, operator of the Malampaya project, said gas supply to customers peaked at 290 million standard cubic feet per day (MMSCFD). The total is against the current maximum capacity of Malampaya wells at 262 MMSCFD…

Ørsted Greenlights Funding for Hornsea 3 Offshore Wind Storage System

Jun 12, 2024

Ørsted has taken final investment decision (FID) on a 600 MWh battery energy storage system, supplied by Tesla, which will be co-located with 2.9 GW Hornsea 3 offshore wind farm to help balance the grid and reduce volatility for consumers.The…

Liza Unity FPSO Hits Peak Output

May 08, 2024

An Exxon Mobil led oil consortium has achieved peak production of 252,000 barrels per day from its Liza Unity production vessel, Exxon Guyana Country Manager Alistair Routledge said on Wednesday.The consortium, which includes Exxon, Hess and CNOOC…

Energy Storage on O&G Platforms - A Safety Boost, too?

Apr 19, 2024

The fuel savings gained by installing energy storage systems on oil and gas platforms are significant, but it’s the safe-ty benefits that might overcome what has been a relatively slow uptake of late.Industry lore has it that drilling rigs say…

Shell Starts Oil Production from Deepwater Project in Gulf of Mexico

Feb 23, 2024

Shell Offshore, a subsidiary of UK-based energy major Shell, has started production at Rydberg, a subsea tie-back to its Appomattox production hub in the Gulf of Mexico.With an estimated peak production of 16,000 barrels of oil equivalent per day (boe/d)…

CNOOC’s Oil Field in Bohai Sea Starts Production

Feb 05, 2024

China's state-run offshore oil and gas explorer and producer CNOOC has started production from its Suizhong 36-1/Luda 5-2 discovery, located in Liaodong Bay of Bohai Sea.The main production facilities include two new central processing platforms and two new wellhead platforms…

Chinese Shipyard Launches Cadeler’s Newbuild Offshore Wind Vessel

Jan 03, 2024

Cosco Shipyard in China has launched Cadeler’s newbuild vessel Wind Peak, designed to be able to transport and install up to seven complete 15 MW offshore wind turbine sets per load.The launching of Wind Peak is a critical milestone that marks the completion of the vessel’s hull…

Lufeng Oilfields Phase II Commences Production

Jan 03, 2024

CNOOC has announced that the Lufeng Oilfields Phase II Development Project has commenced production.The project is located in the eastern South China Sea, with an average water depth of approximately 136 meters. It consists of the Lufeng 8-1 Oilfield…

Shell to Boost Production at Perdido's Oil Project

Dec 12, 2023

Shell on Tuesday said it has made a final investment decision (FID) to boost production at the Perdido oil project in the U.S. Gulf of Mexico, starting in April 2025.The company, which operates the platform, said it will add three wells that are expected to produce up to 22…

Rystad Says Oil Demand is Peaking. Predicts $60 a Barrel by 2027

Oct 06, 2023

Global crude oil prices could drop to about $60 per barrel by 2027 as demand growth slows, say oil analysts at Rystad Energy, chopping a third off next year's peak price as demand tumbles.Their outlook is a reassuring message amid recent Wall…

Aramco, Exxon CEOs Push Back against Forecasts of Peak Oil Demand

Sep 19, 2023

The CEOs of top Saudi Arabian and U.S. oil producers Aramco and Exxon Mobil on Monday pushed back against forecasts that oil demand will peak, and said the transition to cleaner energy to fight climate change would require continuing investment in conventional oil and gas…

TechnipFMC to Supply Subsea Systems for Shell's U.S. Gulf of Mexico Project

May 26, 2023

Oilfield services company TechnipFMC said Thursday it had secured an integrated engineering, procurement, construction, and installation contract with the oil giant Shell for its Dover development in the U.S. Gulf of Mexico. TechnipFMC said the contract was 'significant' in value…

CNOOC Launches Power from Shore Bohai Bay Project. Starts Production from Offshore Oil Field

Dec 27, 2022

Chinese oil company CNOOC Limited said Monday that its Bozhong- Kenli oil fields power from shore project had successfully started operation. The project will power 39 offshore platforms in Bohai Bay, China.The main facilities of the project…

CNOOC Brings Online 7,100 BPD Offshore Oil Field in China

Sep 13, 2022

Chinese offshore oil company CNOOC Limited has started oil production from its Kenli 6-1 Oilfield 10-1 North Block Development Project, offshore China.The development project locates in the south of Bohai Sea, with an average water depth of about 19 meters…

Oil Demand Could Peak as Soon as 2025, McKinsey Says

Apr 26, 2022

Oil demand could peak as soon as 2025, as the energy transition continues to gain steam and as electric vehicle adoption increases, McKinsey & Company said in a new report.Christer Tryggestad, a Senior Partner at McKinsey, says: “In the past few years…

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