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Arbol Grande is a construction and subsea vessel, delivered in 2003 with specifications tailor made for the Mexican market. The vessel has been used as an accommodation and topside maintenance support vessel for several IMR contracts involving saturation- and air diving, as well as other light construction support operations. View the full article
Equinor ASA said new seismic data is allowing for the reassessment of offshore oil and gas resources on Norway’s continental shelf, underpinning exploration and production efforts as the company targets as many as 30 wildcat wells a year through 2035. View the full article
The agreement is targeting at least 5 MMtpa of CO2 capture and storage capacity by 2030. Its scope includes a CO2 shipping and logistics study, geophysical and geomechanical modelling, reservoir simulation and containment research while exploring the application of advanced technologies, including artificial intelligence (AI), to enhance storage capacity. View the full article
Kaskida will be bp’s sixth hub in the Gulf of Mexico, featuring a new floating production platform with the capacity to produce 80,000 bopd from six wells in the first phase. Production is expected to start in 2029. View the full article
Shale accounted for 52% of YPF’s second-quarter production of the equivalent of 539,000 bopd, up from 45% in the same period last year. Industry plans that it’s spearheading for a new shale oil pipeline are also accelerating, with drillers already negotiating to fill two thirds of capacity. View the full article
Argo Cassiopea plays a central role in Eni's strategy to increase the use of domestic natural gas for energy security and as a low-emission source. Argo Cassiopea's reserves are estimated at around 10 Bcmg, with peak annual production expected to 1.5 Bcmg. View the full article
Var’s Balder X project — extending production to 2045 — includes vessel upgrades, as well as new production and water injection wells. It had already suffered from delays associated with the Covid-19 pandemic, bad weather that complicated drilling, as well as inflation driving up the price of services. View the full article
The extension from October provides firm revenue backlog of approximately $24.3-34.2 million, with the option to extend for an additional well, potentially adding a further approximately $26.9-36.9 million. View the full article
ADNOC Drilling’s second quarter and first half 2024 revenue increased to $935 million and more than $1.8 billion, up year-on-year by 29% and 26%, respectively. This growth has been driven by the expansion of operations across all business segments. View the full article
The subsea market segment, which includes players involved in production and processing systems such as subsea umbilical risers and flowlines (SURF), trees, wellheads, manifolds and other components, is poised to experience a significant influx of capital, according to Rystad Energy. View the full article
Petroleos Mexicanos has reached a deal with an oilfield-services provider to drill in the Gulf of Mexico as the heavily indebted state energy company turns to the private sector to boost crude production. View the full article
Gran Tierra has successfully drilled five exploration wells in Ecuador, each leading to an oil discovery. Three of these five wells are drawing medium to light hydrocarbons from distinct geological zones, highlighting the exceptional potential of the Oriente and Putumayo basins and the significant exploration opportunities that remain within both the Charapa and Chanangue Blocks. View the full article
In 2022, Norway’s two biggest oil companies, Aker BP and Equinor, decided to move ahead with plans to spend about $19 billion to develop a string of fields in the North and Norwegian seas. The investment plans were driven by temporary Covid-era tax rules that were intended to spur petroleum investments during the pandemic. View the full article
Over the next five years, almost half of the additional oil and gas production that could have got the go-ahead under the current tax system would be uneconomic under the new proposals, OEUK said in a report. That puts more than 35,000 jobs at risk in 2029 due to projects being shelved, the group said. View the full article
The goal of the partnership is to identify and assess potential opportunities to decarbonize Serica’s offshore assets and other associated electrification opportunities using renewable power and subsea energy storage. View the full article
Before becoming interim president in 2023, Karr served as the Alliance’s executive vice president for five years. He will continue his work as the petroleum economist for the Alliance. Every month, he releases its Texas Petro Index (TPI), a measure of growth rates and cycles in the Texas upstream oil and gas economy, as well as the Alliance’s Texas Permian Basin Petroleum Index. View the full article
The retreat by one of Britain’s biggest oil and gas companies underscores the challenge facing the UK government in developing floating offshore wind into a major industry, just as costs for the technology have increased. View the full article
The Scarborough Energy Project has all primary environmental approvals in place, and offshore work is progressing well. The Federal Court proceedings sought an injunction to stop offshore activities for the Scarborough Energy Project. The parties have agreed to seek orders from the Court to dismiss the proceedings. View the full article
Exxon Mobil Corp.’s top executive vowed to sue more activist investors if they continue to “abuse” the proxy voting process, just months after a lawsuit against Arjuna Capital LLC was dismissed by a federal judge. View the full article
Viaro will take full ownership of the Bacton onshore gas terminal and 11 offshore facilities that produced around 28,000 boe last year, according to a statement from the company on Tuesday. That’s equivalent to about 5% of total UK gas production, and the company said it sees potential to expand production further. View the full article
The nation’s economy grew by 49.7% in the first half of 2024, with the oil sector accounting for 67% of that growth, Ali said Saturday on a live webcast. Guyana produced an estimated 113.5 MMbbl of oil from January to June, and the oil sector is projected to grow by 56.4% this year, he added. View the full article
ADNOC has signed a long-term Heads of Agreement with IndianOil for 1 million metric tonnes per annum of liquefied natural gas (LNG) from its Ruwais LNG project in Abu Dhabi. View the full article
This four-month extension to an existing contract will build on existing operations. The project is expected to enhance the client’s seismic data acquisition capabilities, facilitating more informed decision making. View the full article
Diamondback Energy announced that it has closed its merger with Endeavor Energy Resources, the company said on Sept. 10. View the full article
Production from the Norwegian Continental Shelf will peak in 2025, the directorate said in a report published Wednesday. How quickly production falls will depend on whether companies can tap into resources around existing infrastructure using new technologies, as well as in less familiar regions like the Barents Sea in the far country’s far North. 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.
