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by Andreas Exarheas | Rigzone Staff | Monday, June 30, 2025 | 6:54 AM EST Wood Mackenzie reveals who was crowned the 'most admired upstream explorer' in the company's latest Annual Exploration Summit Survey. At the time of writing, none of the above have responded to Rigzone.
Despite its potential, the country continues to struggle with instability and lacks the international attention needed for sustainable progress. Backed by Western and Turkish support, Libyas internationally recognized government is attempting to revitalize its upstream oil and gas sector, which is already attracting notable global interest.
Applied Computing sees opportunities across the sector's value chain from refining and petrochemicals to upstream and LNG, although its current focus is on downstream. It appears to be going places in its bid to bring AI to the oil and gas sector, which, as Adamson noted, is the most "under-optimised industry on earth."
“The recent success at Moccasin has been a catalyst and Union Jack is now entering into a period of sustained activity in Oklahoma, where we have every reason to be confident following the Boards decision to expand operations into the US.”
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.
Activist investor Elliott Investment Management wants oil major BP to replace its strategy chief and create separate units for upstream and downstream activities to improve accountability, a source familiar with the situation said on Friday.
The post Madbouly, Badawi Review Upstream Activities, Mining Development, Investment Plans for Coming Period first appeared on Egypt Oil & Gas. Moreover, the meeting followed up on natural gas and crude oil production rates, as well as production and exploration plans in the Mediterranean Sea.
Platforms integrated across previously siloed workflows, connecting upstream operations with midstream logistics and downstream analytics. Conclusion: The Future of Upstream Oil & Gas is Data-Driven The upstream oil and gas industry is no longer just about extracting resources; its about extracting intelligence from data.
Todays TRADITIONAL SUPER BASINS of oil & gas will not meet the challenges of sustainability and achieving Net-Zero by 2050. For the upstream industry to become more sustainable, it must focus on resources that are co-located with both plentiful clean electricity and CCS potential.
Key themes include the deployment of artificial intelligence, automation, digital twin technology, predictive analytics, and cyber resilience across upstream, midstream, and downstream operations.
Decision-makers are increasingly challenged to address a variety of priorities, including energy security, energy affordability, reducing emissions, sustainability and industrial competitiveness. trillion are required over the 2025–2050 period, mainly for the upstream sector.
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.
The county has seen sustained drilling activity from top operators due to its high-yielding reservoirs and robust infrastructure. With over 49 cumulative miles of midstream lines under permit, Ironwood plays a pivotal role in enabling Karnes County’s upstream development.
Industry leaders like ExxonMobil, ConocoPhillips, Chevron, Diamondback, Devon, and Occidental are racing to optimize capital efficiency while sustaining inventory quality. But as basins mature and geology becomes more challenging, the key question becomes: Can these gains be sustained, or has the industry already picked the low-hanging fruit?
Let’s break down what’s changed, where the momentum is building, and what it means for the future of AI in upstream oil & gas. Engineers are reporting more upstream public data issues now than they did before the AI-driven analytics adoption wave. The operational phase has begun.
Production Engineers need to balance technical expertise, operational efficiency, and safety measures to ensure the optimal and sustainable production of oil and gas resources. Conducting research and participating in training to improve skills and knowledge in production engineering.
It’s a company built on firm foundations, much like the strong granite synonymous with the city” “Adura will sustain domestic oil and gas production and security of energy supply in the UK and beyond”, Equinor added. “Adura has been created to bring together the A of Aberdeen and the dura of durability.
Ørjan Jentoft, Aker BP asset manager for carbon capture and storage, commented, “We are excited to leverage Aker BP’s extensive upstream expertise to mature and develop CO2 storage solutions on the Norwegian Continental Shelf” “This innovative design with designation from DNV is expected to set new benchmarks in safe, (..)
EnerCom is currently accepting applications from start-up companies focused on innovation in alternative energy, advanced oil and gas technology, environmental sustainability , and carbon solutions to present at The Energy Transition and Emerging Technology Session at EnerCom Denver.
However, record-breaking demand for natural gas coupled with steep production declines from upstream freeze-offs created real operational challenges at select points along the natural gas value chain. The natural gas delivery system did heroic work in keeping homes warm and the power grid supplied with electricity.
About Mach Natural Resources LP Mach Natural Resources LP is an independent upstream oil and gas Company focused on the acquisition, development and production of oil, natural gas and NGL reserves in the Anadarko Basin region of Western Oklahoma, Southern Kansas and the panhandle of Texas.
What are also important scopes are commonly used by industries in their sustainability reports. Scope 3 : Emissions in complete upstream and downstream supply chain. The post Emissions genuine evidence of arrogance or a smart measure of sustainability? appeared first on Energy and Renewables.
Also, the event witnessed interactive breakout session where the attendees selected the preferred topics to that face the women who are working in the petroleum sector to discuss in groups and find the possible solutions. we are going to launch three groups, women in the field, new leaders, and early career professionals.
Building on the successful completion of a transformative proof-of-concept phase, AIQ a Presight company announced a landmark $340 million contract with ADNOC to deploy ENERGYai and associated AI solutions across ADNOCs upstream value chain.
It said also that it will grow its top line production across our combined Upstream and Integrated Gas business by 1% per year to 2030, sustaining the 1.4 The company said in a statement that it will reinforce its position in liquefied natural gas (LNG) by growing sales by 4-5% per year through to 2030.
Together, these infrastructure milestones are reshaping market access and incentivizing upstream investment, especially in gas-weighted plays tied to global LNG demand. Year-to-Date Totals: 2024 (JanMay) : 1,879 permits 2025 (JanMay, including forecast) : 2,176 permits Change : +15.8%
The deal was backed by a sustainability-linked term loan led by Breakwall Capital LP, with Sustainable Fitch providing a second-party opinion affirming the transactions alignment with global sustainable finance frameworks. We also look forward to the new employees joining our team from NGL.
by Brian Meyer, PSB Industries With the gas processing industry poised for significant changes in the coming years, adopting new technologies is essential to ensure industry leadership and sustainable business models. The gas processing industry refines natural gas to make it usable for industrial, commercial, and energy-applications.
With the gas processing industry poised for significant changes in the coming years, adopting new technologies is essential to ensure industry leadership and sustainable business models. The gas processing industry refines natural gas to make it usable for industrial, commercial, and energy-applications.
Ward, is an upstream LP focused almost entirely on the Mid-Continent. Budget and 2025 outlook: Mach’s capital spending in 2024 totaled about $60 million in Q4 (including $56 MM on upstream development). Mach Natural Resources (Mach Resources) – Mid-Continent Focus Mach Natural Resources (NYSE: MNR), led by CEO Tom L.
EnerCom is currently accepting applications from start-up companies focused on innovation in alternative energy, advanced oil and gas technology, environmental sustainability , and carbon solutions to present at The Energy Transition and Emerging Technology Session at EnerCom Denver.
Corrosion in Cryogenic Plants: Water and heavier hydrocarbons not removed upstream can freeze and cause blockages in cryogenic gas processing plants, leading to costly defrosting operations or even damage. Space Constraints: Physical footprint and accessibility for maintenance are practical considerations during selection.
Nasser, Aramcos president and CEO, noted that Aramco has made significant strides during the year on a number of projects and initiatives aimed at reinforcing its upstream pre-eminence, further integrating its downstream portfolio and developing the new energies business.
Reducing Emissions and Enhancing Efficiency A major theme of the discussion was ExxonMobils commitment to sustainability and efficiency gains. With its newfound scale and technological advancements, the company is well-positioned to increase recovery rates, reduce operational costs, and drive long-term sustainable growth in the Permian.
Badawi stated that the Ministry seeks to accelerate the pace of exploration and production, leverage modern digital solutions to improve operational performance, and enhance the sustainability of production processes. In a separate meeting , Badawi talked with Patrick Pouyann , Chairman and CEO of TotalEnergies.
On one hand, its their job to sell college as the ticket to a family-sustaining career. Insurance companies, financial services, consulting firms and Amazon are all starting apprenticeship programs to fish upstream for the best talent. But the conflicting narratives have become challenging, confusing and downright stressful.
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.
In March 2025, AIQ announced a landmark $340 million contract with ADNOC to deploy ENERGYai and associated AI solutions across ADNOCs upstream value chain. This partnership reflects a shared vision that can leverage AI for more efficient decision-making, greater sustainability, and enhanced operational intelligence in the energy industry.
Delaware Q12024 vs Q12025 Comparison Key Takeaways: Drilling Records : Q1 2024 : 809 records Q1 2025 : 962 records This notable rise reflects continued momentum in upstream investment and drilling operations, particularly in major producing basins. Based on recent permit and rig activity data, the industry saw an 18.9%
How Is Blockchain Used for Sustainability? When discussing blockchain integration’s impact on renewable energy procurement, or more specifically, sustainability, it’s essential to talk about carbon credits. Upstream: Companies that find and extract resources 2. How Does Blockchain Impact the Oil and Gas Industry?
Looking ahead, BP plans to drill around 40 exploration wells over the next three years , underscoring its ambition to expand its upstream production base. This shorter cycle time from drilling to production optimizes capital efficiency and improves returns. billion (up from $1.2 billion in Q4 2024) Pre-tax Earnings (RCPBIT): $4.5
Flotek has established collaborative partnerships focused on sustainable and optimized chemistry and data solutions, aiming to reduce the environmental impact of energy on land, air, water and people. Flotek is based in Houston, Texas and its common shares are traded on the New York Stock Exchange under the ticker symbol “FTK.”
24 that Clay Neff, its President/International Exploration and Production, was named President/Upstream, effective July 1. Our new organizational structure and leadership appointments are designed to improve our operational efficiency and position Chevron for sustained growth, said Mike Wirth, Chevrons Chairman and Chief Executive Officer.
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