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But the explorers have also hit dry wells, prompting them to write off drilling costs as they learned more about the fields. State oil company Namcor is looking to build capacity to have a bigger role in developments along with the country’s strategy to maximize local production, according to Shilunga, who was appointed last month.
Brent Crude $66.90 +0.65% Natural Gas $3.69 -2.62% Latest Oil Prices SUBSCRIBE SEARCH ARTICLES NEWS CNOOC Announces Seventh Upstream Startup in Chinese Waters This Year by Jov Onsat | Rigzone Staff | Monday, June 09, 2025 | 3:37 AM EST Weizhou 5-3 is expected to reach a peak output of about 10,000 bpd next year. feet) deep. feet) deep.
(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. Momentum is already building across Libyas energy industry, with several upstream developments demonstrating the countrys renewed focus growth and investment.
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.
But the explorers have also hit dry wells, prompting them to write off drilling costs as they learned more about the fields. State oil company Namcor is looking to build capacity to have a bigger role in developments along with the country’s strategy to maximize local production, according to Shilunga, who was appointed last month.
bp drilled the exploration well in Green Canyon Block 584, located in western Green Canyon approximately 120 miles off the coast of Louisiana in 4,092 feet of water. bp expects to grow its global upstreamproduction to 2.3 million barrels of oil equivalent in 2030, with the capacity to increase production out to 2035.
The company will deliver a rigless intervention framework that enables Repsol Resources UK to optimise well construction, production, and intervention to maximise plug and abandonment (P&A) operations. Read the latest issue of Oilfield Technology magazine for upstream news, project stories, industry insight and technical articles.
(World Oil) – Africas national oil companies (NOC) are moving beyond operating as state-representatives by transforming themselves into competitive upstream players. Boosting production Major oil producers in Africa are striving to boost production and NOC-IOC collaboration is at the forefront.
The Calgary-based oil sands developer, which also explores for and produces oil and gas offshore, produced 853,200 bpd upstream and sold 604,900 bpd of refined products in Q1.
Upstream Midstream Downstream are terms commonly used in the oil and gas industry to describe different stages of the production and distribution process. What is oil and gas upstream midstream downstream? Upstream involves locating, surveying, drilling, and extracting crude oil and natural gas from underground reservoirs.
Shell aumenta su participacin en la plataforma Ursa del 45.3884% al 61.3484%, dejando a BP Exploration & Production con el 22.6916% y a ECP GOM III con 15.96% Las subsidiarias de Shell: Offshore Inc. con el 22.6916% y a ECP GOM III, LLC con 15.96%. Tendr un Inters de regalas primordial del 3.5% (ORRI) en Ursa.
This report analyzes upstream oil and gas production trends over the last three years, based on data from Rextag Energy DataLink. MMBBL 193 BCF Analysis: Hilcorp leads in gas production but is less significant in oil output. MMBBL 193 BCF Analysis: Hilcorp leads in gas production but is less significant in oil output.
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).
With offices in Dallas and Houston, NSAI provides a complete range of geological, geophysical, petrophysical, and engineering services and has the technical experience and ability to perform these services in any of the onshore and offshore oil and gas producing areas of the world.
The seminar covers the basics: geology, petroleum engineering, differences between conventional and unconventional plays, the basics of shale and offshore drilling, the economics of oil and gas exploration and production, geologic storage of CO 2 , and reserves estimations. About NSAI Netherland, Sewell & Associates, Inc.
The seminar covers the basics: geology, petroleum engineering, differences between conventional and unconventional plays, the basics of shale and offshore drilling, the economics of oil and gas exploration and production, geologic storage of CO 2 , and reserves estimations. About NSAI Netherland, Sewell & Associates, Inc.
(Oil Price) –First-quarter earnings at ExxonMobil ( NYSE: XOM ) topped analyst estimates as higher production in the Permian and offshore Guyana offset part of the lower realizations due to falling oil prices. Upstream earnings increased by $1.1 Upstream earnings increased by $1.1 billion from a year earlier to $6.8
These IPOs are poised to attract significant global investment, providing much-needed capital to enhance production capabilities, improve infrastructure and foster long-term growth. Similarly, Angola’s NOC Sonangol has reaffirmed its intention to proceed with an IPO, offering up to 30% of its shares to the public.
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.
It covers the basics: geology, petroleum engineering knowledge, differences between conventional and unconventional plays, the basics of shale and offshore drilling, the economics of oil and gas exploration and production, geologic storage of CO 2 , and reserves calculations.
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.
Three key themes emerged from the update: major exploration success in the Gulf of Mexico, oil price commentary, and a demonstration of financial resilience. This shorter cycle time from drilling to production optimizes capital efficiency and improves returns. BPs internal planning assumptions currently model Brent crude at $71.50
The presenting company lineup as of May 21, 2025, includes: Advantage Energy (TSX: AAVVF) Amplify Energy (NYSE: AMPY) Anschutz Exploration Armstrong Oil & Gas APA Corp.
In a statement , the company said that it drilled the exploration well in Green Canyon Block 584, located in western Green Canyon, about 120 miles off the coast of Louisiana, in water depths of 4,092. Globally, bp expects to grow its upstreamproduction between 2.32.5 The post bp Unveils New Oil Discovery at Gulf of America.
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.
The discovery comes amid BP's broader pivot away from rapid renewables expansion toward reinforcing its upstream oil and gas portfolio to meet investor expectations and improve financial performance. onshore and offshore regions, including the Gulf of America. BP is also targeting 2.32.5 per barrel in Q1 2025 versus $13.1 in Q4 2024.
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.
24 that Clay Neff, its President/International Exploration and Production, was named President/Upstream, effective July 1. Bruce Niemeyer , then President/Americas Exploration and Production, was named President/Shale and Tight, effective July 1. Gilfillian * Neff Niemeyer Chevron Corporation announced on Feb.
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.,
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
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!
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