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The commercial agreements amend the existing ACG production sharing agreement (PSA) framework, enabling the parties to progress the exploration, appraisal, development and production from the gas reservoirs of the ACG field. ACG non-associated gas resources are believed to be significant, with up to 4 Tcf (ca. 112 Bcm) in place. View the full article
The FTC could announce the decision as soon as this week, Reuters reported, citing people familiar with the matter. Chevron would still need to win an arbitration case filed by Exxon Mobil Corp. in order to close the deal. Hess’ biggest asset is a stake in a huge oil field offshore Guyana, controlled by ExxonMobil. View the full article
While the storm is expected to strike the northeastern part of the Gulf, it has had an impact on some energy operations. Shell Plc shut the Appomattox and Stones oil facilities and evacuated non-essential personnel from assets in the Mars corridor, according to a company statement. Chevron Corp. also removed some crews from offshore installations. View the full article
The commercial agreements amend the existing ACG production sharing agreement (PSA) framework, enabling the parties to progress the exploration, appraisal, development and production from the gas reservoirs of the ACG field. ACG non-associated gas resources are believed to be significant, with up to 4 Tcf (ca. 112 Bcm) in place. View the full article
A Norwegian Offshore Directorate analysis of exploration activity from 2004-2023 shows that the discoveries are valued at three times the costs expended. 50 of 190 offshore discoveries have been developed and are producing, leaving three-quarters still to be developed. These investments will remain profitable as more fields come on stream. View the full article
On Sept. 19, the Board of Directors of ANCAP, the Uruguayan state-owned oil company with regulatory responsibility for offshore licenses, approved Challenger Energy’s farmout agreement for the AREA OFF-1 license with Chevron. The original deal was announced on March 6. View the full article
Total executives used a $50-to-$60-a-barrel benchmark to test the viability of oil projects when presenting them for board approval, and is “very close” to approving a 220,000 bpd project in Suriname, CEO Patirck Pouyanne said at a conference in Rio de Janeiro. View the full article
The collaboration accelerates the development and deployment of industry-specific generative AI foundation models across SLB’s global platforms, including its Delfi digital platform and Lumi data and AI platform, by leveraging NVIDIA NeMo, part of the NVIDIA AI Enterprise software platform, to develop custom generative AI that can be run in the data center, in any cloud or at the edge. View the full article
The Fenix field is part of the Cuenca Marina Austral 1 (CMA-1) concession. With a production capacity of 10 MMcmd (70,000 boed), the Fenix development consists of a new unmanned platform, located in 70 m water depth and connected to the existing CMA-1 facilities. View the full article
One of the primary drivers of Namibia’s attractiveness as an investment destination is its supportive government and investor-friendly policies. View the full article
As global supply chains become more interconnected and volatile, adopting digital solutions are no longer a luxury, they are a necessity. This article examines how digitalization improves supply chain management in the oil and gas industry, highlighting a case study where Fluor was able to effectively track 2 MM materials, prevent disruptions and increase supply chain visibility. View the full article
The addition of Flex Orbit to the EPIC product portfolio combines the open-architecture benefits of the EPIC Flex system with advanced self-orienting capabilities for precision shot placement at any desired angle or orientation for enhanced well productivity. View the full article
The American Petroleum Institute (API) released a statement from Executive Vice President and Chief Advocacy Officer Amanda Eversole applauding the U.S. House of Representatives for protecting American consumers by passing a resolution to prevent EPA’s light- and medium-duty tailpipe emissions rule from being implemented. View the full article
Although the French supermajor hasn’t formally greenlit the $9 billion development of crude discoveries in the Latin American nation, it’s already seeking to lock in two rig leases for future drilling in the area, according to people familiar with the tenders who asked not to be named discussing non-public information. View the full article
Rice University, the University of Exeter, and Uppsala University are some of the academic institutions leveraging STRYDE’s cutting-edge technology to advance a variety of subsurface research initiatives in 2024. View the full article
The first award is a “substantial” contract to design, engineer, and manufacture riser flexible pipe. The second award involves work to design, engineer, and manufacture subsea production systems to be deployed on the Atapu 2, Sepia 2, and Roncador projects. View the full article
The growth has made the U.S. the world’s largest oil producer — pumping almost 50% more crude each day than Saudi Arabia. It’s “been good for the American consumer and good for national security,” said John Podesta, the senior adviser to the president for international climate policy. View the full article
The Octiv Auto Frac service combined with the ZEUS electric fracturing platform and the Sensori Fracture Monitoring Service is a fracturing solution that uses intelligent automation to optimize fracture operations and makes the digital frac site a reality. View the full article
The main production facilities include a new deepwater jacket platform Haiji-2 and a cylindrical FPSO Haikui-1. A total of 32 development wells are to be commissioned. The project is expected to achieve a peak production of approximately 17,900 bopd in 2026. The oil property is heavy crude. View the full article
SLB and Aramco have signed an agreement with the aim of co-developing, commercializing, and utilizing digital solutions to help mitigate greenhouse gas (GHG) emissions in industrial sectors. These solutions would be integrated within SLB’s digital sustainability platform, building on the collaboration announced in 2022. View the full article
Lance is among several CEOs looking to utilize North America’s gas reserves, of which the head of ConocoPhillips says is “substantial.” Lance went as far as to predict “a century” of available resources. View the full article
In the first half of 2024 alone, Kent secured $1.2 billion in new contract awards. The new investments in Houston are designed to further enhance Kent’s ability to serve its clients across North America, particularly in the areas of engineering, project delivery and digital transformation. View the full article
The well will be drilled as a deviated hole with a total measured depth of approximately 7,500 m and is expected to take 50 - 60 days to drill and evaluate. The well lies within tie-back distance to both the Who Dat G subsea manifold (6 km) and the Who Dat FPS. View the full article
This strategic initiative combines Oil States’ MPD Integrated Riser Joint (IRJ) system with Seadrill’s high-spec fleet of floating drilling vessels to enhance safety and efficiency while simplifying and standardizing MPD systems operating in the offshore drilling market. View the full article
LOGIX assists with autonomous drilling, streamlines well delivery, can shorten production timelines, and reduces rig time through intelligent automation. View the full article
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About this blog
I started this blog to express what I sense about the highs and lows of the oil realm, while cautiously analysing historical data, taking into account the geo-political development at the time of recording them.
I got into this field, having been a passive observer of fluctuations of crude oil prices and their global consequences for years.
Then, when on the day of Great Oil Crash in April, 2020, I made a decision to make my own blog, with the motto, ‘analysing data that really matters’.
Having come from an academic background in mathematics and physics, I analyse data using my own tools, created with JavaScript and Python, taking my decision on board while making decisions.
