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The NO5-A project involves the creation of an offshore platform comprising a topside and a six-legged non-battered jacket. Upon completion, the NO5-A Platform will be the first electrified gas production platform in the North Sea, powered entirely by offshore renewable energy from the nearby Riffgat offshore wind farm. View the full article
Barclays CEO CS Venkatakrishnan joins a growing chorus of Wall Street CEOs from Citigroup Inc.’s Jane Fraser to JPMorgan Chase & Co.’s Jamie Dimon and Goldman Sachs Group Inc.’s David Solomon, who have all cautioned that a complete withdrawal from oil and gas comes with unacceptable energy security risks. View the full article
Installed by contractor McDermott on behalf of an international operator, it is the second time the firm’s TCP product has been deployed in Malaysia, after a TCP Flowline and static riser were installed at the shallow water West Lutong field for operator Petronas in 2017. View the full article
In a lawsuit filed Monday in New York state court, Martin Siegel says the Conoco deal could deprive Marathon investors of more than $6 billion in value. He further alleges Marathon, its directors and financial adviser Morgan Stanley, misrepresented the deal in a proxy statement recommending shareholders back it. View the full article
TDI-Brooks has successfully completed a geotechnical coring project for Geohidra in the Southern Gulf of Mexico. The operation, conducted aboard the MV Laguna Azule, involved thirty-two cone penetration tests using the Neptune 3000 system. View the full article
The two countries have overlapping claims to the seabed north of Alaska, Yukon and Northwest Territories, which is thought to contain significant oil reserves. The Arctic is also a region that has become increasingly accessible and has drawn greater interest from Russia and China. View the full article
As Australia shifts towards renewable energy, optimizing existing gas production fields remains crucial to meeting rising global energy demands. View the full article
Saudi Arabia is expected to put less money into the oil industry than initially predicted in its goal to invest $1 trillion in strategic sectors by the end of the decade. View the full article
Saipem’s scope of work involves the engineering, procurement, construction and installation of wellhead platforms’ topsides, wellhead platforms’ jackets, tie-in platform jacket and topside, rigid flowlines, submarine composite cables and fiber optic cables. View the full article
Turkey, seeking to extend its influence in Africa and strengthen energy security, will send the 86 m long research vessel Oruc Reis to explore offshore oil and gas blocks belonging to Somalia next month. 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
Ovintiv’s operations in the Central basin of Utah involves drilling in about 2,600 feet of oil saturated reservoir rock, according to its website. The asset could attract interest from private equity-backed energy groups, the people said. View the full article
NFE’s proprietary Fast LNG design is the first of its kind, pairing the latest advancements in modular liquefaction technology with jack up rigs or similar offshore infrastructure to enable a faster deployment schedule than traditional liquefaction facilities. View the full article
This SURF EPCI contract includes a substantial fabrication scope and offshore work over three years, with the first campaign beginning in 2025. Ocean Installer has also secured a separate contract for replacing a 4 km, 10” flexible flowline at the Troll B field in 2025. View the full article
The first MoU focused on the expansion of Eni and SOCAR’s cooperation on oil and gas exploration and production, with the aim of strengthening the energy security of Europe, and Italy in particular. A second MoU envisages the cooperation of Eni and SOCAR to reduce greenhouse gas emissions and improve energy efficiency in the upstream sector. View the full article
Crude production grew to 1.41 MMbpd in the second quarter, compared with 1.22 MMbpd a year earlier. Daily oil production in Nigeria is expected to rise to about 2 MMbpd by the end of this year, Oritsemeyiwa Eyesan, executive vice president of the Nigerian National Petroleum Corp.’s upstream division, said last week. View the full article
Woodside is targeting a final investment decision for the first phase of the Driftwood project from the first quarter of 2025. If all four phases are completed, the Louisiana facility would be able to export 27.6 million tons a year — almost triple Woodside’s current capacity and nearly 6% of the global total at the end of last year. View the full article
A fight over Gulf of Mexico oil production is looming in Washington as U.S. regulators race to redo guidance on how to protect endangered species ahead of a deadline that could ultimately threaten about 15% of the nation’s crude output. View the full article
Personnel have been evacuated from a total of 171 production platforms, 46% of the 371 manned platforms in the Gulf of Mexico. Evacuations have also commenced from three non-dynamically positioned rigs, equivalent to 60% of the five rigs of this type currently operating in the Gulf. A total of four DP rigs have moved off location out of the storm’s path as a precaution. This number represents 20% of the 20 DP rigs currently operating in the Gulf. View the full article
Earlier this month, Equinor’s Troll B and C fields offshore Norway became partly powered from shore. This reduces annual emissions from the Norwegian Continental Shelf (NCS) by 250,000 tonnes of CO2. View the full article
Kent will support the portfolio with their highly experienced CSU workforce while implementing its best-in-class commissioning processes, systems, and tools throughout the program of works, including its custom-built Commissionability (TM) software. View the full article
India’s Swan Energy Ltd. plans to sell its stake in a floating liquefied natural gas (LNG) terminal to Turkey’s state-run Botas for $399 million. View the full article
The four new contracts encompass four heavy-size helicopters Sikorsky S-92A to support Petrobras in the pre-salt Santos basin. CHC will provide crew change flights to over 60 offshore units operated by Petrobras and its partners from Jacarepaguá and Maricá airports, located at Rio de Janeiro estate, Brazil. View the full article
It is important for oil and gas companies to have adaptable, low maintenance corrosion solutions to preserve topside and subsea infrastructure in case of delayed commissioning from unexpected market drops. View the full article
Autry Stephens, the petroleum engineer raised on a Texas peanut and watermelon farm who became the richest U.S. oilman, has died. He was 86. 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.