Production News

 

UK: Clean Energy Investments Could Grow North Sea Jobs to 232,000 by 2050

11 hours ago

The UK North Sea energy jobs count will drop by at least 20 percent in the coming years without urgent investment in the clean technologies needed to create a net-zero offshore energy system, a report by OGTC and Offshore Renewable Energy Catapult shows.However, according to the report, investing up to £416 billion (USD 555,9 billion) in total, between today and over the next 30 years into clean energy projects…

Reuters: OPEC Oil Output Rises for Fifth Month, as Libyan Production Offsets Cuts

13 hours ago

OPEC oil output rose for a fifth month in November, a Reuters survey found, as increased Libyan production offset full adherence by other producers to cuts agreed in an OPEC-led supply deal.The 13-member Organization of the Petroleum Exporting Countries has pumped 25…

OPEC+ to Hold Informal Online Talks Ahead of Next Week's Meetings

Nov 27, 2020

OPEC+, a group of leading oil-producing countries, will hold informal online talks on Saturday prior to meetings scheduled for next week, a source with the knowledge of the matter said.OPEC+ is debating whether to ease oil output cuts from Jan…

DNV GL Suspends Nord Stream 2 Pipeline Work for Fear of U.S. Sanctions

Nov 26, 2020

Norway's risk management and quality assurance firm DNV GL has suspended work on the Nord Stream 2 gas pipeline project led by Russia's Gazprom for fear of being sanctioned by the United States, it said on Thursday.Nord Stream 2 runs alongside…

BP, Ithaca Energy Bring Online Vorlich Offshore Field

Nov 26, 2020

Oil major BP and Ithaca Energy have started production from the Vorlich offshore oil field in the North Sea.The 30-million-barrel field has been developed through two wells with peak production expected to reach 20,000 barrels of oil equivalent gross per day…

Report: ExxonMobil, Total in Talks Over Mozambique Gas Resource-sharing Deal

Nov 26, 2020

ExxonMobil and Total are in negotiations over their massive LNG projects in Mozambique, with each seeking to extract more gas from a shared field that straddles the two developments and cut costs, three sources familiar with the matter told Reuters…

Petrobras Cuts 5-year Spending Plan by 27%

Nov 26, 2020

Brazil's state-controlled oil company Petroleo Brasileiro SA cut its five-year investment plan by 27% from a year ago to $55 billion to preserve cash, as the coronavirus pandemic drove down global oil demand and prices.In a filing on Thursday…

PetroVietnam Says Annual Output Unaffected by COVID-19

Nov 25, 2020

Vietnam's state oil firm PetroVietnam said on Wednesday it was on track to meet its targeted rate of production this year, despite the impact of the coronavirus pandemic and the fall in global crude oil prices.The company, formally known as Vietnam Oil and Gas Group…

Tullow Oil Shifts Its Focus to West Africa

Nov 25, 2020

Britain's Tullow Oil will commit 90% of its investments in coming years on its producing offshore oilfields in West Africa and put exploration on the back burner to reduce debt.Tullow, which was set up in the 1980s produce oil and gas in Africa…

Rystad: E&P Spending in 2021 Could Reach $380B. Return to Pre-Crisis Levels Uncertain

Nov 24, 2020

Investments from the global oil and gas exploration and production companies (E&P) in 2021 are forecasted to reach around $380 billion, almost flat year-on-year, a report by Rystad Energy shows.Approximately 20% or $76 billion of the estimated…

EnQuest Cuts Output Guidance Due to Incident Off Malaysia and N. Sea Maintenance Works

Nov 24, 2020

London-listed oil company EnQuest has lowered its full-year production guidance, citing scheduled maintenance and an incident on an offshore platform in Malaysia as the reasons.Group production averaged 60,777 Boepd in the ten months to end October 2020…

ARMS Reliability Wins Contract with MODEC

Nov 23, 2020

ARMS Reliability said it has reached an agreement with floating production solutions provider MODEC to assist with optimization and rapid strategy development of asset maintenance management philosophy for MODEC’s newest floating production…

Ivory Coast: Foxtrot to Spend $315M to Increase Its Gas Output

Nov 23, 2020

Ivory Coast-based energy firm Foxtrot International will invest $315 million to increase its gas output by a third by 2022 to meet the West African nation's growing power needs, the firm's general manager told Reuters on Monday.Ivory Coast,…

RWE Sells 49% Stake in Humber Gateway Wind Farm for $863M

Nov 23, 2020

Renewable energy giant RWE has agreed to sell to Greencoat a 49% stake in the Humber Gateway wind farm offshore the UK for GBP 648 million ($863 million). 'The disposal is part of RWE’s capital rotation program and the proceeds will be used to finance further growth in the renewable energy business…

Vaalco Buys Sasol's Interests in Offshore Assets in Gabon

Nov 18, 2020

Africa-focused oil and gas company Vaalco Energy has agreed to buy Sasol's 27.8%  interest in the Etame Marin block, and a 40% stake in Block DE-8, offshore Gabon. Vaalco said that the acquisition would almost double its total production and reserves…

Current News

Ireland: Providence Pens Barryroe Field Farmout Deal with SpotOn

Ireland: Providence Pens Barryroe Field Farmout Deal with SpotOn

UK: Clean Energy Investments Could Grow North Sea Jobs to 232,000 by 2050

UK: Clean Energy Investments Could Grow North Sea Jobs to 232,000 by 2050

Brazil: PGS to Resume Campos Basin 3D Seismic Survey in December

Brazil: PGS to Resume Campos Basin 3D Seismic Survey in December

Premier Oil, Rockhopper, Navitas Take More Time for Sea Lion Deal

Premier Oil, Rockhopper, Navitas Take More Time for Sea Lion Deal

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