Offshore Production News - page 10


Energean Trims Annual Production forecast after HY Profit Slumps

Sep 07, 2023

Mediterranean-focused oil and gas producer Energean reported a 41.2% slump in first-half profit, dented by higher tax expense, and also trimmed its full-year production forecast to 125,000-130,000 barrels of oil equivalent per day (boed).Energean…

Montara Venture FPSO Resumes Production

Sep 07, 2023

Asia Pacific-focused oil and gas company Jadestone Energy plc on September 1 restarted oil production from the Montara Venture FPSO offshore Australia.The production had been shut down since July due to a defect in the FPSO's 4S ballast water tank…

Shell Ditched Major Works on Prelude for Shorter Maintenance Schedule

Sep 06, 2023

Shell considered shutting its flagship Prelude FLNG facility off Australia for a year to fix issues that have plagued its operations, but instead opted for shorter maintenance period to allow it to capture strong gas demand, three industry sources said…

GHG Emissions from UK Offshore Oil and Gas Sector Dropped 3% in 2022, NSTA Says

Sep 06, 2023

Greenhouse gas emissions from UK offshore oil and gas production were cut for the third consecutive year in 2022, the UK North Sea Transition Authority said Tuesday.'Last year’s estimated 3% reduction contributed to a 23% drop in greenhouse gas emissions between 2018 and 2022…

Plotting Russian Exit, Wintershall Dea Says Remaining Business is Strong

Sep 06, 2023

German oil and gas producer Wintershall Dea on Wednesday tried to assuage fears that the hit from its planned Russian exit could be too painful, saying its remaining operations were strong and stable. Chief Executive Mario Mehren told Reuters that the company considered its Germany…

Indonesia Scrambles to Boost Use of Gas in Energy Transition

Sep 05, 2023

Natural gas will play a key role in Indonesia's energy transition, thanks to discoveries in past years as oil production declines, energy official Tutuka Ariadji said on Tuesday.The southeast Asian nation, which is stepping up development of gas projects such as Masela…

Oil Jumps as Saudi Arabia and Russia Extend Supply Cuts to end-2023

Sep 05, 2023

Oil prices spiked more than 1% on Tuesday after Saudi Arabia and Russia announced a fresh extension to their voluntary supply cuts, stretching a combined 1.3 million barrel per day (bpd) reduction for another three months through December.Brent crude futures for November were up $1…

EnQuest Swings to First-half Loss on UK Windfall Tax on Oil & Gas Sector

Sep 05, 2023

British North Sea-focused oil producer EnQuest reported a loss after tax for the first half of this year on Tuesday, hit by the UK's windfall tax on the sector.The company, which has operations in the UK and Malaysia, reported loss after tax of $21…

Aker BP Celebrates Steel Cutting for Yggdrasil and Valhall PWP-Fenris Developments

Sep 04, 2023

Norwegian oil and gas firm Aker BP on Monday celebrated the first official steel cut for its two major developments, Yggdrasil and Valhall PWP-Fenris on the Norwegian shelf. The event at Stord marks the start of three years of high activity…

Wintershall Dea Installs New Subsea Template at Maria Field Offshore Norway

Sep 01, 2023

Oil and gas company Wintershall Dea and its partners Petoro and Sval Energi have installed an additional subsea template on the seabed at Haltenbanken on the west coast of Norway, as part of the second phase of the Wintershall Dea-operated Maria field development…

Europe's Gabon-exposed Stocks Slide after Military Coup

Sep 01, 2023

Shares in European oil producers, miners and other companies with large exposures to Gabon plummeted on Wednesday after a military coup raised concerns over their operations in the resource-rich African country.London-listed oil producer Tullow Oil fell as much as 12% in afternoon trading…

Caspian Sea Gas Project Absheron Officially Inaugurated

Sep 01, 2023

An official inauguration ceremony was held this week for the Absheron gas field, located in the Caspian Sea, offshore Azerbaijan.To remind, the first development phase of the field, owned by TotalEnergies and Socar and, as of recently, ADNOC…

BW Energy Closes Deal to Acquire Saipem FPSO in Brazil

Aug 29, 2023

Norway's BW Energy is now able to move forward with its acquisition of the FPSO Cidade de Vitória on the Golfinho field in Brazil, more than a year after it reached a deal with the FPSO's Italian owner Saipem.The two companies had signed a memorandum…

Chevron Evacuates Gulf of Mexico Platforms Ahead of Hurricane Idalia

Aug 29, 2023

U.S. oil producer Chevron on Tuesday said it evacuated staff from three U.S. Gulf of Mexico oil production platforms ahead of hurricane Idalia.Idalia was expected to become a major hurricane on Wednesday with sustained winds topping at least…

Equinor to Test Autonomous Robots for Subsea Leak Detection

Aug 29, 2023

Equinor is set to trial the use of autonomous robots for subsea leak detection services in the North Sea.The Norway-based energy company has tapped Houston's Nauticus Robotics and its Norwegian technology partner Stinger Technology for the pilot project…

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