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This five-year agreement covers a comprehensive range of services, from consulting and concept to detailed engineering, aimed at optimizing and expanding the existing facilities and infrastructure of one of the largest oil and gas condensate fields in the world. View the full article
Drilling operations have been completed safely and successfully, with the well drilled to a total depth of 10,290 feet (measured depth). Zephyr’s operations team is now preparing to set a production liner across the Cane Creek reservoir section, after which the Helmerich & Payne Rig 257 will rig down and demobilise from the site. View the full article
Wintershall Dea has signed an agreement with PTT Exploration and Production Public Company Limited (PTTEP) on the sale of its 10% participating interest in Abu Dhabi’s Ghasha concession. All the conditions required for closing, including regulatory approvals, have been fulfilled. View the full article
The loan for the Scarborough project, which is scheduled to deliver its first LNG shipment in 2026, will come from the Japan Bank for International Cooperation. The public financial institution has stepped-up efforts to secure LNG, including granting loans for fuel purchases. View the full article
The Helmerich & Payne drilling rig is being rigged down and transported off location. Production testing equipment will then be mobilized to site. Testing is expected to commence within two weeks and is expected to take less than ten days to complete. View the full article
Block 49 and Block 50 are Chevron’s first operated assets outside the Cabinda concessions and are near other productive offshore concessions, like Block 17. Post exploration, these new blocks are expected to yield substantial returns and enhance Angola’s portfolio of ultra-deepwater assets. View the full article
The agreement reached in Riyadh on Sunday exceeds market expectations in some ways, extending so-called “voluntary” cuts from key members including Saudi Arabia and Russia well into next year. However, it also begins rolling back those supply reductions in October, earlier than some OPEC-watchers had assumed. View the full article
Saudi Aramco’s $12 billion share sale sold out shortly after the deal opened on Sunday, in a boon to the government that’s seeking funds to help pay for a massive economic transformation plan. View the full article
The addition will mean Vista has two fracking crews and related equipment in operation. The company is aiming to raise production 55% to the equivalent of 85,000 bpd by the fourth quarter, and start production on 138 new oil wells by 2026 in an effort to reach 100,000 bpd. View the full article
The sophisticated system is designed to protect floating production storage and offloading platforms (FPSOs) and other high-value assets against a wide range of marine risks, even in the most challenging marine environments. View the full article
Adding the blocks to Seplat’s assets will swell the company’s natural gas fields in an area where it is already one of the biggest suppliers of domestic gas to Nigerian power plants. It would almost quadruple Seplat’s output to more than 130,000 bpd. View the full article
Using the Dixstone-owned Nuada Self-Elevated Class 82 SD-C jack-up drilling rig, the Moke-East exploration well, located between Lukami and Motoba fields in the DRC coastal basin, encountered a 24 ft net oil-bearing column. The offshore discovery will be tested and the well completed in the coming weeks. View the full article
The International Maritime Industries (IMI) already has signed offtake agreements totaling $10 billion over 10 years with partners Aramco and Bahri, for the delivery of 20 rigs and 52 vessels acquiring at least 75% of Bahri commercial vessel needs over the period from the shipyard. View the full article
Abu Dhabi National Oil Co.(ADNOC) is likely to reach its 5 MMbpd goal by the end of next year or early 2026, ahead of the 2027 goal the company had set, according to people with knowledge of the operations. The higher capacity will be a potential source of tension as OPEC and its allies deliberates new production quotas later this year. View the full article
The FPSO Agogo is scheduled to commence operations in the fourth quarter of 2025 as part of the Agogo integrated west hub development project offshore Angola. With a field development plan encompassing 36 wells, including both production and injection wells, the project demands high-quality solutions to ensure reliable operations. View the full article
UEM is an innovative approach that, for the first time, simultaneously integrates static and dynamic data in real time to represent subsurface conditions across multiple scales. This method improves the accuracy of reservoir models by consistently incorporating geologic uncertainties, making UEM vital to optimize reservoir recovery under uncertainty. View the full article
The Italian oil and gas company is working with advisers including Standard Chartered Plc on the possible stake sale, the people said, asking not to be identified as the information is private. Eni could sell up to 30% of the business and is drawing interest from other energy companies, including from Asia, the people said. View the full article
Units of Wintershall Dea AG, INEOS Group, Equinor ASA and Orsted AS are among the companies that were granted rights to explore whether the Danish subsoil is suitable for commercial CO2 storage and establish whether the process can be done safely and securely, the Danish Energy Agency said Thursday. View the full article
From 2020 to 2023, Guyana's crude oil production grew by an average of 98,000 bpd annually, making it the third-fastest growing non-OPEC producer. This surge has driven substantial economic growth, with a 62.3% GDP increase in 2022, the highest globally, according to the IMF. View the full article
Engineering studies (FEED) are progressing for the development of the Sapakara and Krabdagu fields, with combined recoverable resources estimated above 700 MMbbl, thanks to the integration of Water Alternating Gas (WAG) injection technology to maximize recovery. View the full article
The new target is part of ADNOC’s expanded In-Country Value (ICV) program which aims to drive an additional $49 billion back into the UAE economy by 2028. ADNOC’s previous 2027 target for local manufacturing of $19 billion worth of products was delivered ahead of schedule following the award of two contracts for metal pipes and valves worth $4.6 billion to local manufacturers. View the full article
Block 32 is approximately 260 km offshore Luanda, in water depths ranging from 1,400 to 2,000 m. Production started up in 2018 and continues to be one of the biggest producing blocks in Angola. Block 14/14K is approximately 100 km offshore from Cabinda in Angola and covers around 4,094 km2. First oil occurred in 1999 and continues to have significant output of medium light crude oil. View the full article
Algeria’s SONATRACH and ExxonMobil signed a Memorandum of Understanding to study existing opportunities to develop oil and gas resources in the Ahnet basin and the Gourara basin, with an emphasis on operational excellence, technological innovation , respect for the environment and best sustainability practices. View the full article
Drilling will shortly commence on the final section of the State 36-2R well. The objective for this short section is to land the well safely within the Cane Creek reservoir and drill the remaining 320 ft to intersect both the reservoir and the productive natural fracture system encountered by the original well. View the full article
Nearly three dozen companies and trade associations will open their legal fight against the vehicle standards Thursday, filing petitions with the U.S. Court of Appeals for the District of Columbia Circuit. The challengers include such oil and gas industry heavyweights as the American Petroleum Institute as well as the National Corn Growers Association, which backs ethanol. 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.