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Increasing financial constraints, a low commodity price environment and a shrinking pool of prospective basins have transformed how oil and gas players explore for new barrels.
Let’s explore where natural gas is found, both on a global scale and right here in the U.S. Iran – The South Pars/North Dome field, shared with Qatar, is the largest gas field in the world. Haynesville Shale (Louisiana and East Texas) – A rapidly growing region for dry gas production.
(World Oil) –MOL has discovered a new oil field near Somogysmson in Western Hungary. During the exploration drilling carried out in December 2024, oil was found at a depth of 1,250 meters. As a landlocked country, our oil supply is largely via pipelines and intermediaries, added Dr. Gyrgy Bacsa, COO of MOL Hungary.
(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.
During June 2025, Keddington produced a total of 992 bbl of oil over 23 days of timed pumped production averaging 10.4 The newly installed equipment and facilities are working well and continue to be fine-tuned to optimise production. h/d with an average flow-rate of 43 bpd gross during the period. Already a member?
Chevron started its seabed survey operations in early summer, adhering to the timetable for the construction of a strategic pipeline that will connect the Aphrodite gas field in the Eastern Mediterranean to Egypt, according to a statement by the government of Cyprus.
It expects the project to start production 2029. "We have done a thorough job maturing the new resources discovered in the Fram and Troll area in recent years”, Kjetil Hove, Equinor executive vice president for Norwegian exploration and production, said in an online statement. Both are tied back to Troll C.
Let’s explore the P2P platform and the all-new Foundations and Advanced subscriptions giving non-ops more ways to work with P2P datasets, visualize assets, and forecast production. P2P reimagines owner relations with generative AI, freeing operators from the distraction and costs of chasing down documents and fielding phone calls.
Johan Sverdrup is the largest oil-producing field in Norway and ranks among the world’s most carbon-efficient oil fields. The field is operated by Equinor, with Aker BP holding a 31.6% Total investments are estimated at NOK 13 billion, with production expected to commence in the fourth quarter of 2027.
Maria Phase 2 is a four well subsea tie-back to existing infrastructure in Harbour’s operated Maria field. Production from the first well was delivered safely, on time and to budget. This marks the first of the next wave of subsea developments we are bringing on-stream to support production from our Norway business.”
The company’s flagship customer conference brought together more than 700 leaders, innovators and decision-makers from across the energy value chain to explore the future of energy through the lens of generative artificial intelligence, market transformation and operational excellence. energy producers and more than 40,000 suppliers.
The Hoover and Diana fields are located approximately 160 miles south of Galveston, Texas. The project utilizes floating production deep draft caisson vessel (DDCV) technology, which has gained the world record for deepwater drilling and production depths, the company said. Financial terms of the contract were not disclosed.
This agreement also involves an integrated suite of services, such as VAM Field Service and value-added digital solutions designed to optimise installation and maintenance practices. These services will ensure that ADNOC’s oil and gas fields operate with maximum efficiency. Already a member?
Image by pavalena via iStock Vietnam Oil and Gas Group (Petrovietnam) and its joint venture partners have signed a product sharing contract (PSC) for Block 15-1 on the southern continental shelf of Vietnam. The asset is one of the few blocks in Viernam that contains large-scale commercial oil and gas fields. percent, SK Group holds 7.2
billion more than current government estimates. This additional production could add £165 billion in economic value, with a total of £385 billion if the UK meets half its oil and gas demand from domestic sources, supporting jobs, investment, and public services across the country. These resources include: 0.5
An Engineering Technician in the oil and gas industry plays a crucial role in supporting engineers and other professionals in various technical tasks related to the exploration, extraction, and processing of oil and gas. This can include drafting plans for equipment layout, pipeline systems, and other components of oil and gas facilities.
The appraisal well was drilled approximately 22 km north-east of the Heidrun field and 270 km north of Kristiansund. It is the third exploration well drilled in production licence 891, which was awarded during the Awards in Predefined Areas (APA) in 2016. million bbl of oil equivalent in Triassic reservoir rocks. nozzle opening.
billion in 2024, the countrys oil and gas industry association said, adding that this will not lead to higher production. billion, would be spent on production, with the remainder of $740 million channeled into exploration. billion, would be spent on production, with the remainder of $740 million channeled into exploration.
In particular, Viaro will prioritise the development of the Selene discovery – one of the largest gas fields in the UK Southern North Sea in the past decade. Viaro also plans to progress the nearby Blackadder exploration prospect, which is geologically analogous to Selene and well-positioned near existing Viaro infrastructure.
Every year billions of barrels of Produced Water (PW) are generated from oil and gas production around the world. As fields age, they generate higher water to oil ratios. In some mature fields, 10 barrels of water are generated for every barrel of oil produced. However, it is becoming a problem in some onshore fields.
Paul Weir, Chief Executive of Genel, said: " In line with expectations, the Tawke PSC continues to deliver consistent, reliable production and generate significant cash flow even at the discounted domestic sales prices. Genel Energy has issued a trading and operations update relating to Q1 2025.
Achieving self-sufficiency in diesel and kerosene production. Abdul Ghani emphasized Iraq's strategy of integrated projects, linking oil production, gas utilization, power generation, refining, and petrochemical industries. On renewable energy, Iraq has secured commitments for 8,000 MW of solar power at oil field sites.
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?
The legacy system, owned and operated by a third party, experiences approximately 25% Field Loss and Unaccounted For (FL&U) gas, leading to substantial financial and environmental impacts. Expected regulatory updates within the next 90 days could further streamline pipeline installations, potentially reducing project costs and timelines.
AI-powered technologies are enabling companies to optimize operations, enhance oil and gas exploration, and prevent costly disruptions. AI-Driven Exploration: Unlocking New Potential Oil and gas exploration has always been a high-stakes endeavor, requiring extensive research, testing, and investment.
MOL announced discovering a new oil field near Somogysmson in Western Hungary. During the exploration drilling carried out in December 2024, oil was found at a depth of 1,250 meters. As a landlocked country, our oil supply is largely via pipelines and intermediaries.
A total of 15 injection cycles were performed into the Leman gas field across the test phase, mobilising 11 CO 2 offshore batch refills. This means that the protection of workers from the risks of CO 2 leaks is of the upmost importance, particularly while the industry is maturing and gaining understanding of the injection process.
For engineers and project managers across the Texas energy landscape, the core challenge remains the same: how to maximize the recovery of valuable products, meet stringent quality specifications, and maintain cost-effectiveness. Failure to meet this spec can result in costly penalties or even a refusal by the pipeline to accept the gas.
In the first part of this series, we explored the massive pipeline projects that crisscrossed the U.S., Whispers of Greatness: Early exploration hinted at untapped reserves that could change the game. Led the development of the Chad-Cameroon Pipeline and spearheaded deepwater drilling projects in the Gulf of Mexico.
Our combined company will include exceptional technical and support personnel from the two companies in both the office and field and an experienced Board of Directors that prioritizes sustainable and profitable growth to generate strong returns for our combined shareholders. million acres in Alberta.
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. What is oil and gas upstream midstream downstream?
For investors, this sector offers diverse opportunities, ranging from upstream exploration to downstream refining and distribution. Upstream Investments; Exploration and Production (E&P): The upstream sector involves the search for oil and gas reservoirs and the extraction of these resources.
Natural Gas Liquids (NGLs) ethane, propane, butanes, and natural gasoline are essential to modern life, fueling industries and forming the building blocks for countless products. The Emergence of Membrane Separation NGL Technology Membrane separation NGL technology is a rapidly advancing field.
Greenwell expects to “bring an expanded pipeline of new wireline and completion technologies to market.” The units’ electrical power needs can be fed by an in-field electrical source. Esquibel, speaking about changes in his field, said that the biggest trend is “optimizing. The family also operates Underdog Rentals.
“They also include agreements for BP to access to two new exploration and development licenses and introduce a new partner to accelerate exploration on a third,” the company added. billion and that the company operates the Shah Deniz gas field with a 29.999 percent participating interest.
They will need to upskill the workforce, adapt the technology infrastructure, accelerate data productization, and deploy agent-specific governance mechanisms. QuantumBlack combines an industry-leading tech stack with the strength of McKinseyâs 7,000 technologists, designers, and product managers serving clients in more than 50 countries.
This guide will explore the technological advancements and emerging trends that are shaping the future of fuel gas conditioning. The industry is no longer dealing exclusively with conventional natural gas from well-established fields. The Rise of Unconventional and Renewable Gas Sources The composition of the gas itself is changing.
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.
Im proud to showcase Saturns ongoing operational efficiency with an average 20% well outperformance while our spending remains on budget, providing valuable flexibility in a tumultuous market, and positioning us to reallocate capital as may be needed without impacting our production guidance, said John Jeffrey, Chief Executive Officer of Saturn.
Energy Information Administration (EIA), gas production in the Eagle Ford region is expected to rise from 6.8 EOGs Dorado wells consistently deliver strong initial production (IP) rates, ranging from 20 to 24 MMcf /d over 24-hour tests. The field accounted for 77% of the companys Q4 2024 production, averaging 71,800 boe /d.
"For new assets, we will seek both to increase that footprint in Oman, and also acquire assets in other preferred jurisdictions that we have identified as attractive to Genel, with a focus on adding production assets that increase the cash generation and resilience of the business, and provide potential for further growth. "In EBITDAX1 1.1
Pipeline vandalism, militant attacks on infrastructure, protests and lawsuits are among the issues that have plagued Nigerias oil industry for years. Recently, the Nigerian government demanded more than $60 billion in back royalties under a production sharing agreement with the supermajors operating in the country. How did this happen?
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 Double Eagles Exploration of a Sale Value: Potentially $6.5
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