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The deal was “fundamental” to the Colombian oil producer’s future and without the resources it would have provided, its finances will deteriorate, Juan José Echavarría and Luis Alberto Zuleta wrote in their resignation letter, which is dated Aug. 30 but has already been published by local media. View the full article
Colombia is targeting oil productiton of 1 MMbpd by pressuring drillers to step up activity in underused exploration blocs, according to the nation’s top energy official. View the full article
Ecopetrol is planning to spend $300 million this year — the most it has invested in offshore drilling in any year — as it pushes to produce more natural gas and get it to consumers in fewer than the 10 to 15 years it normally takes to bring to market, according to Elsa Jaimes, the company’s offshore chief. View the full article
Oil majors are gearing up to explore off the coast of Colombia, offering hope to a country struggling to reverse declines in reserves and output of its biggest export. View the full article
The report, Connected Digital Twin Insights: Rising to the Challenge across the UK Energy Sector and Beyond, explores the opportunities, benefits, barriers, and risks of connected digital twins in the UK energy sector and looks for the answer to a fundamental question – “How can I trust my digital twin?” View the full article
At least one investor is making a big bet that CNX Resources Corp. will keep climbing even as the natural gas producer’s stock reached a 10-year high this week. 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 contracts were signed for a total of five blocks, S6-A, S6-B, A6-D, A6-E and A6-G, all located offshore Mozambique. The total area is approximately 29,000 km2, with water depths from 500 to 2,500 m. View the full article
The Liwan 4-1 well was tested to produce 430,000 cmd of absolute open flow natural gas. The well is located in Baiyun Sag, the largest oil and gas-rich sag in the Pearl River Mouth basin, about 300 km southeast of Shenzhen, with a water depth of nearly 1,640 m. View the full article
The LK7-1-1 exploration well was drilled and completed at a depth of approximately 4,400 m, which encountered a total of 76 m oil and gas pay zones. The well was tested to produce about 210 cubic meters of crude oil and nearly 1 MMcmgd, a new record for natural gas tested productivity in Bohai Bay. View the full article
(WO) — CNOOC Limited has commenced production on its Xijiang 30-2 Oilfield Xijiang 30-1 Block Development Project ahead of schedule. The project is expected to achieve a peak production of approximately 26,000 boed in 2027. View the full article
Output rose to a record 362.6 MMboe, as Beijing pushed for increased production from its state-owned drillers to enhance energy security amid rising geopolitical tensions. View the full article
The well was tested to produce over 6,290 boed, the first well of such productivity in Wushi Sag. The discovery is expected to become a medium-sized oilfield. The total proved oil in-place of Wushi oil fields has exceeded 629 MMboe. View the full article
(WO) — Cnooc Ltd. posted a rise in Q3 profit after the company offset lower crude oil prices with increased output. The state-owned firm has a prominent role in raising output to meet targets for energy security, a task that has greater importance as the geopolitical landscape becomes more uncertain. View the full article
CNOOC has been searching for offshore oil and gas resources in the South China Sea for decades. Multiple large-size gas fields have been discovered, namely Dongfang 1-1, Liwan 3-1, Lingshui 17-2, Baodao 21-1 and now, Lingshui 36-1. By far, the total proved gas in-place in the region has exceeded 1 Tcm. View the full article
(WO) — CNOOC has commenced production on its Xijiang 30-2 Oilfield Xijiang 30-1 Block Development Project ahead of schedule. The project is expected to achieve a peak production of approximately 26,000 boed in 2027. View the full article
CNOOC Limited announces that Long Lake Northwest Project in Canada has commenced production safely. The project is expected to achieve a peak production of approximately 8,200 bopd in 2025. 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
A total of 43 development wells are planned to be commissioned, including 28 production wells, 14 water-injection wells and one appraisal and water source well. It is expected to achieve a peak production of approximately 9,900 boed in 2026. View the full article
The project is expected to achieve a peak production of approximately 18,100 boed day in 2026, and the oil property is light crude. It is the first oil field in the South China Sea supplied with onshore power. View the full article
The offshore project in eastern South China Sea, with an average water depth of approximately 89 m, will be developed by leveraging the existing production facilities. The project is expected to achieve a peak production of approximately 5,300 boed in 2025. View the full article
The main production facilities include a new fixed production platform and three centralized subsea wellheads, with 12 development wells planned to be commissioned. It is expected to reach peak production of 162 MMcfgd and 3,931 bpd in 2025. View the full article
Under this contract, CHC Helikopter Service will provide crew change and transportation services for two key rigs: the Noble Invincible and the Deepsea Yantai. These critical missions will be supported by CHC’s Sikorsky S-92 aircraft, known for its exceptional performance and safety record in offshore missions. View the full article
Despite Uganda’s dedication to leveraging its resources to ensure reliable oil and gas supplies to meet local demand, a lack of investment in production and infrastructure development as a result of interference from developed nations has resulted in a stagnant market for the country. View the full article
Much of the progressives' anxiety around the $1T infrastructure bill has coalesced around support for carbon capture. Last month, hundreds of climate groups wrote an open letter calling on Biden to reject carbon capture as a “dangerous distraction” to eliminating fossil fuels entirely. 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.
