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Equinor to extend Statfjord field life with 100 new wells

Equinor to extend Statfjord field life with 100 new wells

Equinor and its partners in Norway’s Statfjord area have identified and approved plans to extend production from the field towards 2040. Equinor has acquired 6,500,000 shares in Scatec Solar, corresponding to 5.2 percent of the shares. A new business plan will ensure even higher use of resources, extract more value from the field. The shares...

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Petrofac to establish Petrogas NEO UK’s new North Sea operations

Petrofac to establish Petrogas NEO UK’s new North Sea operations

Petrofac has been selected by Petrogas NEO UK – a jointly owned company created by Petrogas E&P UK, and NEO Energy. Company announces a new contract and the award of an additional scope of work with Petroleum Development Oman (PDO). Petrofac, in a joint venture (JV) with the State Oil Company of the Republic of...

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TGS adds U.S. unconventional log databases from Petrophysical Solutions

TGS adds U.S. unconventional log databases from Petrophysical Solutions

TGS announced the purchase of all U.S. onshore petrophysical log database and associated intellectual property from Petrophysical Solutions, Inc. TGS announced the completion of a new multibeam and coring program covering over 213,0000 square kilometers. The Liberia Petroleum Regulatory Authority (LPRA) has announced the launch of the next licensing round, expected to commence in April...

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BP reshapes its UK North Sea portfolio with $625 million asset sale

BP reshapes its UK North Sea portfolio with $625 million asset sale

BP has agreed terms to sell its interests in the Andrew area in the central UK North Sea. New cross-industry consortium to make enhanced recycling of polyester plastics a commercial reality. BP announced that its recent three-well drilling campaign offshore Mauritania. Company has also non-operating interest in the Shearwater field. BP and Reliance Industries Limited...

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Permian pipeline competition accelerates as capacity exceeds supply

Permian pipeline competition accelerates as capacity exceeds supply

Five new oil pipelines are set to open in the Permian Basin through 2021, expanding a gap between production. The approach of Hurricane Dorian toward Florida also raised fears that offshore U.S. crude producers may slow output if the storm passes into the Gulf of Mexico. Limited natural gas pipeline takeaway capacity in the region...

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OPEC output falls as Gulf nations step up delivery of oil cuts

OPEC output falls as Gulf nations step up delivery of oil cuts

OPEC’s output declined last month as several Persian Gulf producers. OPEC+ will adjust its output target and redistribute production cuts. The implementation of cutbacks aimed at balancing global oil markets. Oil production in the US has continued to expand. The energy ministers of Saudi Arabia and Russia called on all producers. It have been hearing...

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Noble Energy’s first gas from Leviathan comes in $150M under budget

Noble Energy’s first gas from Leviathan comes in $150M under budget

Noble Energy announced the commencement of natural gas production from the Leviathan field. Company announced the commencement of natural gas production from the Leviathan field. It is the largest natural gas field in the Eastern Mediterranean. The stock exchange move will allow to leverage Nasdaq’s cutting-edge technology. The review was concluded with the sale of...

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McDermott in talks with lenders to file bankruptcy

McDermott in talks with lenders to file bankruptcy

McDermott International shares fell for a second day after reports that the company is negotiating. Project team remains focused on safety and quality performance. McDermott’s Lummus Technology will upgrade existing unit for production of higher value products utilizing Indmax FCC. Technology award for Next Wave Energy Partners, LP grassroots alkylate production facility in Pasadena, Texas....

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Russia’s energy minister says OPEC+ cuts can’t last forever

Russia’s energy minister says OPEC+ cuts can’t last forever

OPEC+ output cuts have stabilized the global oil market but can’t last forever. OPEC+ will adjust its output target and redistribute production cuts between its members under pressure. Oil production in the US has continued to expand and now stands at a record level of 12.9 million barrels a day. The uncertainty persists over the...

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Exxon expands Eastern Mediterranean offshore holdings

Exxon expands Eastern Mediterranean offshore holdings

ExxonMobil has secured more than 1.7 million acres for exploration offshore Egypt. Increases polyethylene plant production capacity by 65 percent or 650,000 tons-per-year. It acquires more than 1.7 million acres offshore Egypt. Mako-1 well is located southeast of the Liza field on the Stabroek Block, which began producing oil Dec. 20, 2019. Production for Liza...