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Offshore installation activities are expected in 2026, 2027 and 2028. “The FEED study enabled Subsea7 to engage early in the field development process, optimizing design solutions and contributing to the final investment decision. The Fram Sør project will be connected to the existing Fram and Troll C infrastructure.
Gas field contracts under the 5th and 6th licensing rounds have been awarded to international companies, alongside dozens of investment agreements to develop both associated and free gas resources. The Ministry reiterated its commitment to maximise national resource utilisation, enhance electricity supply, and boost petrochemical production.
The talks focused on potential cooperation and investment opportunities, including the development of oil fields and the capture of associated gas. Prime Minister Al-Sudani reiterated Iraq's goal to fully utilise all associated gas produced from its oil fields by 2028.
Of this, 40% is dedicated to slowing down production declines at existing fields. Between 2026 and 2028, the global LNG market is set to experience its largest ever capacity growth, with the USA set to nearly double its export capacity. Global refinery investment in 2025 is set to fall to its lowest level in the past 10 years.
“In addition, the two companies will strengthen collaboration in the field of renewable energy and energy transition, namely through the definition of new initiatives” The MoU was signed during the Italy-Algeria intergovernmental summit in the presence of Algerian President Abdelmadjid Tebboune and Italian Prime Minister Giorgia Meloni.
percent for 2028 to 2030, based on ETS directive, âDirective 2003/87/EC of the European Parliament and of the Council of 13 October 2003 establishing a M9 system for the greenhouse gas emission allowance trading within the M9 Union and amending Council Directive 96/61/EC,â European Union, March 1, 2024. percent, dropping to around 0.8
Engineering and project management will begin immediately in Subsea7 offices in Norway and the United Kingdom, with offshore installation activities expected in 2026 through 2028. The FEED study enabled Subsea7 to engage early in the field development process, optimizing design solutions and contributing to the final investment decision.
percent stake in the Scarborough field offshore Western Australia to Japanese companies: 15.1 Delivery is set to start 2028. The LNG will come from Woodside’s LNG portfolio including the Scarborough Enbergy Project, JERA said. Last year Woodside sold a 25.1 percent to JERA and 10 percent to LNG Japan.
“The consideration will be split into a $40 million payment due on completion, $40 million payable at the earlier of field development plan approval or 30 June 2026, and $40 million payable over five years from the third quarter of 2028 onwards”, Tullow said.
Image by Emiliano Ortiz via iStock Italy’s Eni SpA and Argentina’s YPF SA have signed an agreement to build a liquefaction facility to enable the export of natural gas from the Vaca Muerta field in the South American country. They expect to make an FID this year and deploy the unit in 2028.
The first large deepwater development in the Kwanza basin, Kaminho is planned to have a capacity of 70,000 bpd through the Cameia and Golfinho fields. Start-up is targeted 2028. Elsewhere in Angola, TotalEnergies and its partners approved the Kaminho project in block 20/11 last year.
Specifically, the Sapakara and Krabdagu fields, which contain recoverable reserves estimated at nearly 760 million barrels, according to the company’s website. The FPSO is designed to allow the future connection of satellite fields to extend the duration of its production plateau. miles (150 kilometers) off the Surinamese coast.
Image by ysuel via iStock Kelsian Group Limited said one of its units has signed a binding contract with CP2 LNG engineering procurement, and construction contractor Worley Field Services, Inc.,
mb/d currently to 2 mb/d in 2028. Production officially restarted on Sunday at an initial rate of 5,000 barrels per day, with plans for an increase to 25,000 bpd by July. According to the Chairman of Libyas National Oil Corporation, Masoud Sulaiman, Libya plans to increase its oil output from 1.4
aiming to save 1.285 million barrels of crude oil equivalent (mmboe) by the end of the seventh development program (2028). The CEO added that the current plan aims targets savings equivalent to two phases of the South Pars gas field, by the end of 2025. mmboe by the end of 2028 first appeared on Egypt Oil & Gas.
Woodside is developing the field in partnership with Pemex. First production is targeted in 2028. This contract follows another major contract from Woodside for the Trion development to the SLB OneSubsea joint venture in 2023, which includes subsea horizontal trees, controls and topside equipment. Manufacturing is currently on track.
It also got an approval from the Iraqi government to start the development of two oil fields in the north. Between 2025 and 2028, the supermajor plans to spend between $20 and $22 billion, which is down from a 2023 annual spending plan of between $22 and 25 billion per year. BP is very much back. Now, Shell is focusing on gas.
When Kloeppel was new to his role at Ameren Illinois, he visited the Glasford Natural Gas Storage Field and spoke with two operators there, Jeff Classen and Mike Carrol. During their conversation, Classen and Carrol pointed out that the field was only about 1,000 feet from the Panhandle pipeline. It proved to be the perfect scenario.
million bpd in 1988, and production has since fallen largely because of the production decline of mature oil fields, limited lease availability, and high exploration and production costs. The companies plan to drill an additional 58 wells by 2028, which would support relatively high rig activity.
The workshop discussed the future of the Zohr field project and production sustainability, with a focus on the third phase of the project. Integrating it into the production map is expected to take effect by 2028. The post New Phase to Add 1 Tcf Natural Gas to Zohr Reserves first appeared on Egypt Oil & Gas.
Iraqs Oil Ministry announced that it plans to increase oil production to more than 6 million barrels per day (mmbbl/d) by 2029, while confirming an agreement with bp to develop four oil fields in Kirkuk, Iraq News Agency reported.
Rystad forecasts QatarEnergy will invest between US$14-15bn per year over the next few years as it continues to invest heavily in the North Field gas field and expanding LNG capacity, while ADNOCs expenditure, which reached US$5.7bn last year, is forecast to increase given its target of 5mn bpd production capacity by 2027.
In its release, BP said Shah Deniz Compression is one of the 8-10 major projects expected to start up between 2028 and 2030, “as disclosed at BP’s 2025 capital markets update” The company added that the project is expected to contribute to growing BP’s global upstream production to 2.3
While the region's mature fields are declining, new projects are helping stabilize production and extend the Gulfs viability as a key energy source. By late 2024, 12 new offshore projects were set to increase production by 0.231 MMBbl/d, helping offset declining output from aging fields. MMBbl/d in 2025. MMBbl/d in 2025. Chevrons St.
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