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BP approved on Thursday the development of the Ginger natural gas project offshore Trinidad and Tobago, which will be one of the ten major new projects that the UK supermajor promised to start up by 2027. In the upstream, BP will aim for 10 new major projects to start up by the end of 2027, and a further 810 projects by the end of 2030.
billion in deepwater oil and gas exploration and development offshore Nigeria, the local regulator, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), has said. Exxon sold last year its onshore assets to local firm Seplat Energy, but is committed to offshore exploration and development in the country.
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. Currently, Galp holds stakes in various oilfields in the deep waters of the Santos basin in the prolific pre-salt layer offshore Brazil.
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.
(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.
upstream growth, driven by advantaged assets like the Permian Basin, is central to the companys long-term performance. Upstream Results: Permian Power ExxonMobils U.S. upstream earnings jumped to $1.87 Upstream Results: Permian Power ExxonMobils U.S. upstream earnings jumped to $1.87 billion in Q1 2024.
This discovery in the deepwater Gulf of America/Gulf of Mexico underscores how bp is in action to step up investment in exploration and strengthen its upstream portfolio under the strategy reset announced in February 2025. bp expects to grow its global upstream production to 2.3 onshore and offshore regions by 2030.
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.
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.
British oil and gas producer BP said on Friday that reported upstream production in the first quarter is expected to be lower compared to the previous quarter.BP
Mento is one of bps 10 major projects expected to start up worldwide between 2025 and 2027 that bp announced earlier this year as part of its strategy to grow the upstream.
Momentum is already building across Libyas energy industry, with several upstream developments demonstrating the countrys renewed focus growth and investment. Meanwhile, Enis offshore drilling campaign in Libyas Sirte Basin is set to be one of the most closely watched exploration programs in 2025, with four exploration wells in the pipeline.
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 estas acciones, su participacin en esta obra petrolera pasa del 45.3884% al 61.3484%, dejando a BP Exploration & Production Inc.
This report analyzes upstream oil and gas production trends over the last three years, based on data from Rextag Energy DataLink. in 2024 , showing volatility in offshore gas extraction. Production by Operator - 12 Months (01.2024 - 12.2024) The top offshore operators are ranked below. upstream player.
Austrian oil and gas firm OMV has signed an agreement with Lukoil Gulf Upstream, a subsidiary of Russias Lukoil, to divest its stake in a sour gas development offshore the United Arab Emirates (UAE)
Libyas latest upstream licensing round has already attracted more than 40 applicants, a signal of the countrys re-entry into the global energy arena and growing
Est ubicado en el offshore colombiano, a 31 km de la costa, y con una profundidad de 804 metros de lmina de agua, lo que marca un hito en la exploracin de gas en aguas profundas en la regin.
BP plans to explore for new oil fields in the Azeri Caspian Sea, BP's upstream chief Gordon Birrell told Reuters.BP is already working on stemming declining output
Austrian oil and gas firm OMV has signed an agreement with Lukoil Gulf Upstream, a subsidiary of Russias Lukoil, to divest its stake in a sour gas development offshore the United Arab Emirates (UAE)
(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 billion from a year earlier to $6.8 Exxons net production jumped by 20% to 4.6
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.
Project Greensand is the first of its kind to demonstrate that captured CO2 can be transported cross-border and stored offshore, according to INEOS. It is the first to be reviewed under DNV’s new CO2 RECOND class notation, developed specifically for CO2 handling and conditioning”, Hoegh Evi said.
Est ubicado en el offshore colombiano, a 31 km de la costa, y con una profundidad de 804 metros de lmina de agua, lo que marca un hito en la exploracin de gas en aguas profundas en la regin.
(Shell Brasil), a subsidiary of Shell plc, announced that it has taken the Final Investment Decision (FID) for Gato do Mato, a deep-water project in the pre-salt area of the Santos Basin, offshore Brazil. The Gato do Mato Consortium includes Shell (operator with a 50% stake), Ecopetrol (30%), TotalEnergies (20%) and Pr-Sal Petrleo S.A.
The petroleum industry produces hydrocarbon, which becomes difficult to develop by the use of an offshore platform, through the subsea production system (SPS). The industry has divided into several sectors, the upstream, i.e. E & P sectors are
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. NSAI in a nutshell Netherland, Sewell & Associates, Inc.
It will cover the oil and gas upstream, midstream, and downstream sectors, as well as energy transition industries, they said March 26. URL: [link] The post THREE60, COMS Energy form strategic alliance appeared first on Offshore Energies UK (OEUK).
Based in the Apeldoorn training centre in the Netherlands, Karst Venema, formerly of Dutch upstream company Nam, has become the Operations Manager for Well Academy EMEA. URL: [link] The post Well Academy appoints operations manager appeared first on Offshore Energies UK (OEUK).
land, India and offshore West Africa.” Meanwhile, international markets, particularly offshore, are seen as somewhat more resilient. Although SLB did not cite a direct impact in Q1 results, the company noted that “evolving tariffs” could weigh on upstream investment decisions in the coming quarters.
This partial privatization is designed to generate capital to support exploration and production projects, positioning Sonangol as a more competitive player in the global upstream market. Similarly, Angola’s NOC Sonangol has reaffirmed its intention to proceed with an IPO, offering up to 30% of its shares to the public.
(World Oil) – Africas national oil companies (NOC) are moving beyond operating as state-representatives by transforming themselves into competitive upstream players. The partners completed the offshore platform for Angolas first non-associated gas project in February 2025, with production on track for early-2026.
Wallace Pescarini, presidente de Offshore Atlantic de SLB, subray la complejidad del entorno tcnico y destac que la compaa aportar su experiencia global en perforacin en aguas ultra-profundas, junto con hardware digitalizado e inteligencia artificial para garantizar seguridad, eficiencia y calidad en la activacin de los pozos.
Este navo fue construido por SBM Offshore, operar en el desarrollo Yellowtail (el cuarto proyecto offshore ms grande de la empresa en Guyana que consiste en la extraccin de petrleo y gas) con una capacidad de produccin inicial de 250 mil barriles diarios y un volumen total de almacenamiento de aproximadamente dos millones de barriles.
Globally, bp expects to grow its upstream production between 2.32.5 Around 1 million barrels of oil equivalent per day (mmboe/d) are expected to be delivered from the US onshore and offshore regions by 2030. million barrels of oil equivalent (mmboe) in 2030, with further capacity expected by 2035.
The meeting further tackled Baker Hughes role in enhancing technological progress in the oil and gas sector, as well as providing advanced engineering and technical solutions for deepwater offshore fields. In a separate meeting , Badawi talked with Patrick Pouyann , Chairman and CEO of TotalEnergies.
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.
This development marks a significant step in Chevrons strategic offshore growth and reinforces its broader production goals in one of its most prolific regions. He continued, Ballymore, which was completed on time and on budget, brings additional production online without building a new standalone offshore platform.
Looking ahead, BP plans to drill around 40 exploration wells over the next three years , underscoring its ambition to expand its upstream production base. Top 10 Drilling Rigs by Total Activity (Q1 2024 + Q1 2025) BP and its offshore peers continued to rely on leading rigs across multiple basins. billion (up from $1.2
Choosing the right drill pipe is crucial for efficient and successful drilling, whether on offshore platforms or onshore rigs. Drill pipes are the backbone of any drilling operation , linking the surface with the depths where all the action happens.
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
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