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Galp Expects New Field to Boost Its Production in Brazil by 40%

OilPrice

Portugal-based energy company Galp expects its oil production in Brazil to jump by 40% in the coming years as a new major field is set to begin production later in 2025, Nuno Bastos, EVP Upstream, has said. The expected start-up of the Bacalhau field, operated by Norways Equinor, is set

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Namibia considers incentives to expedite TotalEnergies’ offshore development

Oil & Gas 360º

(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.

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CNOOC Announces Seventh Upstream Startup in Chinese Waters This Year

Rigzone

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.

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Namibia Weighs Incentives to Kickstart TotalEnergies' Offshore Oil Plan

Rigzone

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.

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BP begins promised major oil and gas project start-ups

Oil & Gas 360º

(Oil Price) –BP said on Thursday that its Cypre development offshore Trinidad and Tobago delivered first gas, as yet another project started up since the supermajor reset its strategy to shift focus back to oil and gas. Production is also expected to grow to 2.32.5 Two of the 10 new major projects have now started production this year.

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Tullow Gets Upstream License Extensions in Ghana

Rigzone

The West Cape Three Points and Deepwater Tano offshore licenses, which contain the producing Jubilee and TEN fields, will be extended to 2040.

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Argentina, Eni Ink Deal for Vaca Muerta Gas Export

Rigzone

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. The capacity is planned to grow to up to 30 million tons per annum (MMtpa) by 2030.

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