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(OE) Oil company Tullow said Monday that production from its Jubilee oil field offshore Ghana had surpassed 100,000 barrels of oil per day, following the recent start-up of the Jubilee South East (JSE) Project. "Gross production from the field has surpassed 100,000 bopd, after a second JSE production well was brought onstream. Both of the... Continue Reading →
(OET) Newly formed upstream energy investment platform Samos Energy has completed its first acquisition by getting its hands on all shares of PetroFirst, a floating energy infrastructure owner, from funds managed by BlackRock Infrastructure and from Petrofac Limited. According to Samos Energy, this acquisition enables it to take over PetroFirst’s fleet of three offshore production... Continue Reading →
Oil and gas companies are set to spend $58 billion on well intervention – a way to extract additional resources from an existing well instead of drilling a new one – in 2023, the Norwegian energy intelligence group Rystad Energy said. Rystad Energy said its modeling showed this is just the start of a surge... Continue Reading →
(Reuters) - Oil and gas companies have intensified the hunt for new deposits in a long-term bet on demand, as they reinvest some of the record profits from the fossil fuel price surge driven by the Ukraine war, according to data and industry executives. The exploration revival - on the part of European majors in... Continue Reading →
(OE) Scana-owned Seasystems has secured contracts for an FPSO project offshore the Ivory Coast with an unnamed client.The first contract is regarding the upgrade and refurbishment of a mooring system supplied by Seasystems in 2008, and the second contract is for gimbals used for the transfer of fluids between two floating units. Scana said the... Continue Reading →
(OET) UK-headquartered TechnipFMC has been hired by Azule Energy, a joint venture between BP and Eni, to provide subsea production systems for a development project offshore Angola. TechnipFMC deems the contract to be a “significant” one since it is between $75 million and $250 million. Thanks to this deal, the company will supply subsea production systems for Azule... Continue Reading →
French oil major TotalEnergies has been named the upstream industry's most admired explorer and has received the Discovery of the Year award in Wood Mackenzie's annual Exploration Survey. This is TotalEnergies' third time winning the most-admired explorer award. Dr. Andrew Latham, Senior Vice President, Energy Research, at Wood Mackenzie, said:"For the third time in our industry-leading... Continue Reading →
(Reuters) Offshore oil and gas exploration spending will increase more than 20% globally this year and the growth will continue into the next, oilfield services firm SLB said on Wednesday. "Offshore is experiencing a renaissance, with significant breadth and anticipated durability," SLB Chief Executive Olivier Le Peuch said at the JP Morgan Energy Power and... Continue Reading →
(OE) After a slowdown in activity during 2020/2021 due to soft commodity prices, demand for FPSOs is picking up. With exploration hotspots like Namibia’s Orange Basin and the East Mediterranean delivering new finds, the FPSO market outlook is healthy. But shipyard capacity constraints are beginning to weigh on delivery, leading to cost concerns. Furthermore, FPSO... Continue Reading →
(OET) Baker Hughes has secured a subsea contract with Italian energy giant Eni and its partner Petroci to deploy its deepwater technology for an oil and gas field offshore the Ivory Coast. Under the contract, which includes eight deepwater trees, Baker Hughes will deliver three Aptara manifolds, the relevant subsea production control system, and flexible risers... Continue Reading →
Brazil Energy Insight 