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Hammerhead aims to start production in 2029, boosting Guyana's oil production capacity to over 1.4 MMbpd. Exxon, along with partners Hess Corp and China's CNOOC, expects Hammerhead to produce between 120,000 and 180,000 bpd, which is less than the 250,000 bpd from its largest vessels offshore Guyana. View the full article
Bolivian President Luis Arce announced the discovery of a 1.7 Tcf natural gas reserve near La Paz. This discovery, the largest since 2005, is expected to become the third-largest producing field in Bolivia and is expected to produce first gas in two to three years. View the full article
Scheduled for release in early August, the carbon storage assessment is constructed from the largest subsurface library in the world comprising formation tops, petrophysically interpreted logs, and reservoir property maps, including the maximum carbon storage volume per formation. View the full article
To support production growth, Angola has introduced a fresh slate of blocks spanning marginal fields, onshore and offshore opportunities. In a first for the country, five marginal fields are on offer in Block 4, Block 14, Block 15 and Block 18 – all of which are operational. View the full article
Ramco Norway has been awarded 80% of the volume of oil and gas pipes running from Equinor at Fjord Base in Florø to the Norwegian Continental Shelf. Additionally, the company has been allocated 100% of the volume from Sandnessjøen and Hammerfest. View the full article
ConocoPhillips received a second information request from the U.S. Federal Trade Commission (FTC) regarding its proposed acquisition of Marathon Oil. Both companies received the requests on July 11 and are collaborating with the FTC to review the merger. View the full article
Designed and built in Perth, Western Australia, the 44-tonne full-scale prototype combines traditional subsea tree technology with several new elements that allow it to swivel, providing 360-degree mooring capability for offtake vessels. View the full article
This year’s Economic Report from the Permian Strategic Partnership (PSP) emphasizes the area’s status as the second lowest producer of CO2 emissions per barrel of oil equivalent among the major onshore producing basins worldwide. View the full article
Wood has secured a six-year contract to provide brownfield engineering, procurement, and construction management (EPCm) solutions for Shell’s Prelude Floating Liquified Natural Gas (FLNG) facility in Western Australia. View the full article
On Shell’s Capital Market Day in 2023, Shell committed to deliver upstream and integrated gas projects coming on stream between 2023 to 2025, with a total peak production of greater than 500,000 boed. Jerun is expected to contribute to this commitment. View the full article
With details for Angola’s 2025 licensing round announced earlier this week, African exploration markets are making a push for upstream investment by deploying more attractive terms and offerings for global investors. View the full article
Features of the FPSO'd include zero routine flaring and venting, variable speed drives and measures to control emissions and capture CO2, including an all-electric concept, which focuses on efficient power generation and increased energy efficiency to achieve a 30 percent reduction in greenhouse gas emissions intensity compared to a design which does not include such technologies. View the full article
RoboWell uses cloud-based AI algorithms to autonomously operate wells that self-adjust according to changing conditions. This enhances the safe operation of the well, improves efficiency, reduces the need for travel and physical interventions, and so minimizes emissions. View the full article
Saipem will operate the vessel and will provide the crew to perform the marine activities for the Shah Deniz and Azeri-Chirag-Gunashli fields, located offshore Azerbaijan. The consortium’s responsibilities include engineering, procurement, construction and installation of subsea infrastructures and life-of-field services. View the full article
CNOOC Limited announced that the D1 well in the Bozhong 19-6 gas-condensate field, the first ultra-deepwater well in Bohai Bay, has achieved a high yield. The D1 well drilled to a depth of 6,088 m, and is producing approximately 6,300 boed. View the full article
The Al-Nukhida field, east of the Gulf state’s Failaka Island, has initial estimated reserves of about 2.1 Bbbl of light oil and 5.1 Tcfg, or 3.2 Bboe, in the Manageesh strata, state-owned KOC said on Sunday. View the full article
In June 2024, the U.S. oil field services sector experienced an increase in job gains, with a gain of 968 jobs. In total, the energy services sector currently supports 647,636 jobs across the United States. For the first time in 2024, employment growth outpaced 2023’s growth by almost 450 jobs. View the full article
Catherine will leverage her financial acumen and strategic insight to lead Gulf’s commercial initiatives across media, events, and market intelligence. Her primary focus will be on accelerating revenue growth, refining sales strategies, and expanding market presence. View the full article
Cisneros, who is chairman of Cisneros Corporation, is entering a joint venture with PDVSA through Globalable Holding SL. The JV known as Petrocabimas is based in the western Zulia state and is projected to quadruple current production to 50,000 bpd by 2026, Cisneros said in a statement. PDVSA did not reply to a request for comment. View the full article
Equinor and its partners Petoro, Vår Energi, and TotalEnergies EP Norge started production from the first Lavrans well in the Kristin South area offshore Norway on July 7, 2024. View the full article
Honeywell’s new holistic offering will encompass natural gas pre-treatment and state-of-the-art liquefaction, utilizing digital automation technologies unified under the Honeywell Forge and Experion platforms. This full-service solution will enable efficient, reliable and optimized management of natural gas assets. View the full article
Eight out-of-control blazes have been discovered just south and southwest of the city since Wednesday, Alberta Wildfire data show. Those add to the three burning to the north, where the region’s main oil sands mines are located. View the full article
The case with Exxon, which claims to have a right of first refusal over Hess’s biggest asset offshore Guyana, will likely take at least until the fourth quarter, meaning the FTC’s review will extend several more months. The agency plans to announce its decision when the arbitration is finished, said the people, who asked not to be named discussing an internal agency matter. View the full article
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