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(Reuters) Exxon Mobil Corp and partners plan to spend $12.93 billion to develop their sixth offshore oil project in Guyana, according to a filing published on Monday by the South American country. The floating production platform for the so-called Whiptail project would start operations in 2027 and bring the Exxon-led consortium's oil output in Guyana... Continue Reading →
(OET) Offshore accommodation provider Prosafe is optimistic about the demand outlook for 2024 and beyond, thanks to a substantial boost in tendering activity for this period. As a result, the vessel owner is anticipating higher day rates and fleet utilisation in the future. Prosafe recorded revenues of $21 million in 2Q 2023, compared to $60.9... Continue Reading →
(OE) Offshore drilling contractor Transocean said Wednesday that the world’s first subsea 20,000 psi blowout preventer (BOP) had been successfully deployed from its Deepwater Titan drillship. The 20K BOP stack, supplied by NOV, is designed for use with extremely high-pressure reservoirs and can be used in ultra-deepwater applications "This cutting-edge technology opens up new opportunities... Continue Reading →
(Reuters) - Chinese national oil and gas company CNOOC Ltd (0883.HK), on Thursday posted a 11.3% fall in first-half profit as lower realised oil prices squeezed margins despite higher output. Net profit fell to 63.8 billion yuan ($8.76 billion) from 71.9 billion a year earlier, CNOOC said in a filing to the Hong Kong Stock Exchange.... Continue Reading →
(PN) PPSA carried out, this week, the direct sale to Equinor of the Union's second oil load from the Atapu field, in the Santos Basin pre-salt. The Norwegian oil company purchased 500,000 barrels of oil, with a price offer based on the reference value established for Atapu oil by the National Petroleum Agency (ANP). In... Continue Reading →
(OET) Ecuador’s state-owned oil player EP Petroecuador is inviting investors to participate in a tender process for an offshore natural gas field located in the Gulf of Guayaquil. This is being undertaken to ramp up the production of natural gas from the field in a bid to meet the growing energy demand. With the rising... Continue Reading →
Baker Hughes and Marine Power Systems (MPS) have set up a partnership to work together on delivering integrated solutions for the electrification of oil & gas facilities and their supporting subsea systems. According to the partners, meeting global net-zero targets requires a dual strategy where efficiency improvements are implemented today while also investing in new... Continue Reading →
(OE) Strohm’s first deep-water/high pressure thermoplastic composite pipe (TCP) Jumper in South America has been installed, commissioned, and is up and running for ExxonMobil Guyana at its Liza field. The Jumper, incorporating advanced carbon fiber and polyamide12 materials, is used for Water Alternating Gas (WAG) injection and was installed in depths over 1,700m for the... Continue Reading →
(Reuters) BP has invested in a start-up company developing technology seeking to use vapour from heavy industry to sharply reduce the production costs of zero-carbon hydrogen. BP Ventures, the British energy giant's venture capital arm, was among several investors in a $12.5 million Series A financing in U.S.-based Advanced Ionics, the companies said on Tuesday.... Continue Reading →
(OE) Oil and gas company Global Petroleum said Monday that the Namibian Ministry of Mines and Energy had given approval for the company and its partners to proceed to the First Renewal Period ("FRP") of Walvis Basin license PEL 94, with a duration of two years from September 2023 to September 2025. The work commitment... Continue Reading →
Brazil Energy Insight 