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Africa is set to play a pivotal role in the global gas industry in the coming years as the worlds liquefied natural gas (LNG) production capacity soars from 486 million tonnes per annum (Mtpa) last year to 755 Mtpa in 2030, according to Rystad Energys latest projections.
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.
supermajor Chevron has expressed interest in oil and gas exploration in two additional offshore blocks south of the Greek island of Crete, Greeces Ministry of Energy and Environment said on Wednesday. The two new blocks now essentially double the total area for exploration to 47,000 sq km (18,147 square miles). (Oil Price) –U.S.
Based on our research, even under the previous tax structure, EOR was already commercially viable both in terms of production breakeven and when compared to permanent sequestration ( Figure 1 ). Raising the tax credit to $85/tonne lowers production breakeven prices and renders EOR viable across a greater range of oil price scenarios.
“We are pleased with our success in today’s bidding round, securing a new exploration opportunity in Brazil – a core country in our international portfolio. Equinor will now work to conduct necessary geological and geophysical assessments for future exploration activities. Already a member?
(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.
Insights on WCSB Oil ProductionPipeline Expansions, and AECO Hub Gas Pricing The Canadian oil and gas industry is at a pivotal moment, with significant potential on the horizon that could reshape the landscape. Explore the impact of increased oil sands production on the Canadian condensate and AECO gas markets.
Register to attend. (World Oil) – Diversified Energy Company PLC, a leading publicly traded natural gas and liquids production company, and global investment firm Carlyle have today announced a strategic partnership to invest in up to $2 billion in existing proved developed producing (PDP) natural gas and oil assets across the U.S.
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?
Let’s explore where natural gas is found, both on a global scale and right here in the U.S. sources include: The Marcellus Shale (Appalachia) – Stretching across Pennsylvania, West Virginia, and Ohio, this is one of the most productive natural gas fields in North America. But where does it actually come from?
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.” Maria Phase 2 is a four well subsea tie-back to existing infrastructure in Harbour’s operated Maria field.
During the exploration drilling carried out in December 2024, oil was found at a depth of 1,250 meters. The fact that we achieved this success in the concession belonging to Bzakerettye, which has an almost 100-year oil industry tradition, is clear evidence that there is still potential in hydrocarbon exploration in Hungary.
The Placing was undertaken on the back of three key recent catalysts for the Company: The Company delivered a highly successful production test on the State 36-2R well. Cash flow from the Williston production will be used to fund the planned Paradox Basin development.
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.
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 will also explore banking-as-a-service accelerated payments, lending support for royalty-based income and industry-standardized financial reporting.
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.
Phase 3 involves the installation of two new subsea templates, tied back to existing infrastructure via new pipelines, and represents an important step toward the partnership’s ambition of reaching 75% recovery. Total investments are estimated at NOK 13 billion, with production expected to commence in the fourth quarter of 2027.
It is the third exploration well drilled in production licence 891, which was awarded during the Awards in Predefined Areas (APA) in 2016. A successful formation test was completed, achieving a maximum production rate of 650 standard m 3 of oil per flow day through a 36/64 in. nozzle opening. Already a member?
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. The DDCV floats vertically and is nearly 150 feet in diameter, incorporating both drilling and production facilities.
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.
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. Halliburton will provide subsurface technology, drilling and completion services, and digital solutions for major new developments.
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.
To meet the projects supply and delivery requirements, production will be carried out across Vallourec’s industrial sites in Brazil, China, and Indonesia. This order fully aligns with ADNOC’s ambitious target of reaching 5 million bpd of production by 2027. Already a member?
AOC), the intervention aims to safeguard production flow and well integrity for at least three years. Read the article online at: [link] You might also like Reusing produced water Friday 27 June 2025 12:00 Morris Hoagland explores the ways produced water can be reused in and outside the oilfield and the opportunities this creates.
Viaro also plans to progress the nearby Blackadder exploration prospect, which is geologically analogous to Selene and well-positioned near existing Viaro infrastructure. If successful, Blackadder has the potential to add to near-term production and extend the life of surrounding host facilities. Already a member?
Read the article online at: [link] You might also like Reusing produced water Friday 27 June 2025 12:00 Morris Hoagland explores the ways produced water can be reused in and outside the oilfield and the opportunities this creates. Already a member? All rights reserved | Tel: +44 (0)1252 718 999 | Email: enquiries@oilfieldtechnology.com )
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.
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. La transaccin tambin incluye 11.81% de la participacin en Ursa Oil Pipeline Company LLC, operada por Shell y ser propiedad de SPLC.
The assets are located in Reeves County, Texas and had projected full-year 2025 production of approximately 3 Mboe/d (~35% oil). (World Oil) –Crescent Energy has closed the sale of its non-operated Permian basin assets to a private buyer for $83 million in cash, the company announced Tuesday.
Before natural gas can embark on its journey through pipelines and into homes and industries, it must be meticulously stripped of impurities, particularly liquids and solids. Reduced Efficiency: Liquids in the gas stream can lead to slugging in pipelines, reducing throughput and increasing pressure drop.
The contract covers the provision of Offshore Shutdown Support Services for the Triton floating production, storage and offloading (FPSO) vessel, located approximately 120 miles east of Aberdeen in the North Sea. Already a member? All rights reserved | Tel: +44 (0)1252 718 999 | Email: enquiries@oilfieldtechnology.com )
and previously led Shell Nigeria Exploration and Production Co. His five-year tenure coincided with a dramatic downturn in production, with Nigerias output of almost 2 million barrels per day dropping to almost half that amount as oil majors exited onshore wells plagued by persistent security issues.
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.
As part of the partnership, Rotork’s IQ3 Pro electric actuator with EtherNet/IP™ connectivity will be featured in Rockwell Automation’s Technology Partner product reference catalogue and system design tools. Already a member? All rights reserved | Tel: +44 (0)1252 718 999 | Email: enquiries@oilfieldtechnology.com )
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. percent, Korea National Oil Corporation (KNOC) holds 11.4 percent, SK Group holds 7.2 percent, and Geopetrol holds 2.6
Every year billions of barrels of Produced Water (PW) are generated from oil and gas production around the world. Most of this water goes back into the producing formations via injection wells as part of IOR and EOR programs to get more production from ageing fields. As fields age, they generate higher water to oil ratios.
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. Covering 80% of gasoline demand, reducing imports.
Now a common practice globally, MPD is advancing novel methods and technologies that will push drilling beyond the conventionally un-drillable — and into the next frontier of subsea exploration. To access the full version of this article and get a free trial subscription to Oilfield Technology, sign up here ! Already a member?
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.
“Naftogaz had been the leading player in the natural gas industry in Crimea, active in gas exploration, production, transport, storage, processing, and distribution”, it said.
Read the article online at: [link] You might also like Reusing produced water Friday 27 June 2025 12:00 Morris Hoagland explores the ways produced water can be reused in and outside the oilfield and the opportunities this creates. Already a member? All rights reserved | Tel: +44 (0)1252 718 999 | Email: enquiries@oilfieldtechnology.com )
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