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(World Oil) – Namibia will offer financial incentives to help kick-start the development of oil fields managed by a group led by TotalEnergies, according to a special adviser in the presidency. But the explorers have also hit dry wells, prompting them to write off drilling costs as they learned more about the fields.
Image by JHVEPhoto via iStock TotalEnergies SE said Monday it has acquired a 25 percent stake in a Gulf of America exploration portfolio operated by Chevron Corp. offshore collaboration with Chevron beyond the existing partnerships in Ballymore (40 percent TotalEnergies) which achieved first production this year, Anchor (37.14
(World Oil) – Libyas oil and gas sector is set for a new era of growth and investment following the announcement of its first exploration bid round in 17 years. This increase in production from existing fields underscores the countrys commitment to stabilizing and expanding its energy supply.
non-operated stake in the deepwater oilfield Bonga offshore Nigeria, where the UK-based supermajor plans to develop another major project. Shells subsidiary operating the Bonga oilfield, Shell Nigeria Exploration and Production Company (SNEPCo), has signed an agreement to buy the French supermajors 12.5%
has begun production at the Weizhou 5-3 oilfield in the South China Sea, its seventh announced startup offshore China in 2025. Weizhou 5-3 is expected to reach a peak output of about 10,000 barrels a day next year, the state-backed oil and gas explorer and producer said in an online statement Monday. feet) deep. feet) deep.
Image by Adele Heidenreich via iStock Namibia will offer financial incentives to help kick-start the development of oil fields managed by a group led by TotalEnergies SE, according to a special adviser in the presidency. TotalEnergies and Shell Plc in 2022 made the first in a series of finds off the coast of the southwest African nation.
in Mechanical Engineering from the University of Alberta and has held previously roles at Sanjel Corporation, Zodiac Exploration, and Pinnacle Technologies, specializing in hydraulic fracturing in unconventional reservoirs. At Liberty, he focuses on technology innovation, service quality, efficiency, and optimization. Ron holds a B.Sc.
Image by Ole Arnesen via iStock The Norwegian Offshore Directorate said ConocoPhillips Skandinavia AS, operator of production license 891, had confirmed the Slagugle oil discovery. miles) northeast of the Heidrun field and about 270 kilometers (168 miles) north of Kristiansund.
Energy Information Administration (EIA) forecast crude oil production in Alaska will increase by 16,000 barrels per day (bpd) in 2026 to 438,000 bpd after remaining relatively flat in 2025. Two new oil developments in Alaska the Nuna and Pikka projects are expected to boost crude oil production in the state after decades of decline.
(Oil Price) –The UK could produce about half of the energy it consumes locally, in the North Sea, the energy industry association, Offshore Energies, said this week, as quoted by the Financial Times. That would be on top of projected economic value creation of 200 billion pounds, or $258 billion, from domestic oil and gas production.
Boosting production Major oil producers in Africa are striving to boost production and NOC-IOC collaboration is at the forefront. Algerias Sonatrach will increase hydrocarbon production by 2.5% Algerias Sonatrach will increase hydrocarbon production by 2.5%
(World Oil) –Murphy Oil Corporation today announced that a subsidiary has signed a Sales & Purchase Agreement (SPA) to acquire the BW Pioneer floating production storage and offloading vessel (FPSO) from BW Offshore.
On the sidelines of CERAWeek 2025, Minister of Petroleum and Mineral Resources Karim Badawi held meetings with CEOs of international companies to discuss production and investments. The post Egypt, Global Energy Leaders Hold Talks on Field Development, Production, Investments at CERAWeek 2025 first appeared on Egypt Oil & Gas.
The acquired portfolio consists of 16 producing fields in Norway, quadrupling DNO’s North Sea production to 80,000 barrels of oil equivalent per day (boepd), the company said in a news release. DNO noted that it has four development wells and one exploration well planned in the period through 2026.
(World Oil) – SLB has been awarded a major drilling contract by Australian independent Woodside Energy for its ultra-deepwater Trion development project, offshore Mexico. Woodside is developing the field in partnership with Pemex. First production is targeted in 2028. Manufacturing is currently on track.
Brent Crude $78.03 +1.73% Natural Gas $4.04 +1.35% Latest Oil Prices SUBSCRIBE SEARCH ARTICLES NEWS Petronas Gets New Block offshore Suriname by Jov Onsat | Rigzone Staff | Thursday, June 19, 2025 | 7:53 AM EST The new acreage lies next to Petronas' Block 52, which contains the Fusaea, Roystonea and Sloanea discoveries. square miles).
Their work involves a combination of exploration, development, and operational support, utilizing advanced geophysical and geological techniques. Purchase Geologists Contact Directory – $25 Buy List Now Key Responsibilities: Conduct geological assessments for exploration, development, and production projects.
China’s Oil Production Outlook: Stability Through Strategic Offshore Growth By Alexander Fernandez China remains a key player in global oil markets, maintaining a stable liquids supply through a strategic mix of mature onshore fields and expanding offshore developments.
“The Murlach Field Development Project is a really significant North Sea project and to have our slab gate valves playing such a vital part in its operational safety is a great reflection of the trust the industry has in our products,” David Gallagher, Project Director of BEL Valves, said in the release.
One critical, yet often overlooked, component in this journey is the field gas conditioner, also known as a JT skid. Join us as we delve deep into the world of field gas conditioners, exploring their functions, benefits, and the crucial role they play in the oil and gas value chain. What is a Field Gas Conditioner?
Minister of Petroleum and Mineral Resources Karim Badawi held meetings with Clay Neff, President of Chevron International Exploration and Production, and Dong Sub Kim, President & CEO of Korea National Oil Corporation (KNOC), focusing on investments and capacity building.
Chevron Corporation, one of the worlds leading integrated energy companies, has announced the start of oil and natural gas production from the Ballymore subsea tieback project, located in the deepwater Gulf of America. Capital Efficiency and Project Execution Ballymores development represents a new wave of offshore efficiency.
Malaysian Petroliam Nasional Berhad (PETRONAS) and Vietnam Oil and Gas Group (PETROVIETNAM) have signed a Key Principles Agreement (KPA) to extend the Production Sharing Contract (PSC) and the Upstream Gas Sales Agreement (UGSA) for the PM3 Commercial Arrangement Area (CAA) for an additional 20 years.
It aligns with the Offshore Energies UK (OEUK) Supply Chain Principles and the objectives of environmental, social, and governance (ESG) reporting. Legacy Locker promotes open and collaborative practices in the traditionally closed sector of offshore oil production and this is recognised by many operators.
This breakthrough technology, which manipulates the resident down-hole ecology, offers operators an easy-to-deploy advanced tertiary oil recovery resulting in increased production and the lowering of lifting costs. Over 340 successful applications onshore and offshore have been reported, with an overall success rate of 94%.
Upstream Midstream Downstream are terms commonly used in the oil and gas industry to describe different stages of the production and distribution process. Downstream is the refining and processing phase, where crude oil is transformed into refined products and chemicals. This includes both onshore and offshore activities.
It aligns with the Offshore Energies UK (OEUK) Supply Chain Principles and the objectives of environmental, social, and governance (ESG) reporting. Legacy Locker promotes open and collaborative practices in the traditionally closed sector of offshore oil production and this is recognised by many operators.
The reorganization gave BSEE regulatory authority (PDF) over safety and environmental affairs for OCS exploration and production activities. For reasons of logistics, the interviews are unlikely to take place offshore. 3304, issued June 29, 2010.
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.
When you get to field aliases and domain or subtype descriptions, the process gets even more complicated. Out Fields a comma-separated list of the field names you want to display in your table. You can find a table of valid fields by clicking on the Fields from Service URL query table.
Over the past two years, 2023 and 2024, production levels have soared, investment strategies have shifted, and new regulatory frameworks have emerged. How will new policies impact production and investment strategies? 2023 Production: ~6.0 2024 Production: 6.3 MMBbl/d production increase in 2024. MMBbl/d , a 0.3
Recently, the Nigerian government demanded more than $60 billion in back royalties under a production sharing agreement with the supermajors operating in the country. History of oil in Nigeria Oil was first discovered in Nigeria in the mid-1950s after decades of fruitless exploration. How did this happen? Exxon comes next: the U.S.
Production increased by 460,000 boe/d, making Chevron a major player in international energy markets. It enhanced Conocos shale oil dominance, focusing on cost-efficient production and mature assets. Double Eagles Exploration of a Sale Value: Potentially $6.5 The Gulf of Mexico assets further added to Chevrons portfolio.
Below, we break down Q1 2025 reports from Equinor , BP , Hess , and Northern Oil and Gas (NOG) , with a side-by-side comparison of production and net income, and a clear snapshot of how they stacked up against Q1 2024. The company noted that the output was in line with expectations, despite ongoing offshore development challenges (e.g.,
By utilising high-resolution 3D seismic surveys and advanced processing algorithms, better potential hydrocarbon reservoirs and optimise drilling locations can be identified, reducing exploration risks and increasing success rates. In conclusion, the energy landscape is evolving rapidly, and Nestoil Group is at the forefront.
42.5%), drilled the Far South exploration well in Green Canyon Block 584, located in the western Gulf of America approximately 120 miles off the coast of Louisiana. onshore and offshore regions, including the Gulf of America. In its Q1 update, BP noted a 90,000-barrel daily production drop due to asset sales in Egypt and Trinidad.
BP has announced a shift in its energy strategy, moving away from aggressive renewables investments and increasing its oil and gas production spending. To optimize profits, the company will focus on significant oil and gas projects, production expansion, and strategic asset divestments. million and 2.5 million barrels per day by 2030.
This crucial step ensures the quality of the final product, protects downstream equipment, and optimizes overall process efficiency. Lets explore the diverse landscape of gas separators, their various types, applications, and the critical role they play in the oil and gas industry. Let’s explore some of the most common types: 1.
Natural Gas Liquids (NGLs), including ethane, propane, butanes, and natural gasoline, are vital to numerous aspects of modern life, serving as essential fuels and feedstocks for a vast array of products, from plastics to clean-burning energy sources. Let’s explore your tailored, cost-effective NGL separation solutions together!
Petrobras is sticking with its plans to expand oil production, along with other international oil majors including Exxon Mobil Corp., up from the year ago period, thanks to higher oil production and a more favorable exchange rate, the company said. Chevron Corp. Net income was above expectations at 35.2 billion reais, 48.6%
The agreements include a field development plan with ExxonMobil and INPEX/JODCO to sustainably expand the production capacity of Abu Dhabis Upper Zakum offshorefield, leveraging AI and industry-leading technologies as well as the deep expertise of the three companies. It is the first award of its kind to a US company.
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