(WO) — SBM Offshore is pleased to announce it has signed the project financing of FPSO Almirante Tamandaré for a total of $1.63 billion. The FPSO’s design incorporates SBM Offshore’s Fast4Ward new build, multi-purpose hull. It will be the largest oil producing unit in Brazil with a processing capacity of 225,000 boe and 12 million m3 o...
(WO) — BW Energy has completed the drilling and completion operations on DHIBM-3H, the first production well of the Hibiscus / Ruche Phase 1 development campaign in the Dussafu license offshore Gabon. Responsibility for the DHIBM-3H well has been handed over to the production team, which will finalize preparations for production start-up. F...
(WO) —Block Energy plc, the exploration and production company focused on Georgia, provided an update on Project I, including the results of the extended well test on WR-B01Za. Production test WR-B01Za has now been producing at a rate of 269 boed over 12 days, following a successful low-cost wellbore intervention by the Block drilling team....
(WO) — 24 turbines for Parkwind’s Arcadis Ost 1 offshore wind farm have been successfully installed. Most of the turbines are already producing green electricity and contributing to the German Energiewende. This marks the end of the first installation campaign of the offshore wind farm using the floating installation method developed toge...
(WO) — QatarEnergy has entered into an agreement with Shell to acquire a 40% working interest in the C-10 block located offshore Mauritania. The C-10 block covers a total area of approximately 11,500 square kilometers and is located approximately 50 kilometers off the coast of Mauritania in water depths of approximately 50 to 2,000 meters....
(WO) — Ocean Installer, an international marine construction and operations contractor, has formalized an alliance with global energy technology company Baker Hughes to deliver a new, integrated subsea engineering solution – that provides efficiencies from project appraisal through to operations. L-R: Romain Chambault, Baker Hughes VP Globa...
(Bloomberg) – Russia has decided to keep its oil production at a reduced level through 2023 amid high volatility in the global market, said Deputy Prime Minister Alexander Novak. Russia had previously pledged to cut its crude-only output by 500,000 bpd in March in response to Western sanctions, including price caps on its oil and petroleum...
(Bloomberg) – OPEC+ announced a surprise oil production cut of more than 1MMbpd, abandoning previous assurances that it would hold supply steady and posing a new risk for the global economy. It’s a significant reduction for a market where — despite the recent price fluctuations — supply was looking tight for the latter part of the yea...
(Bloomberg) -- Ovintiv Inc. is nearing a deal to acquire oil and gas assets in the Midland Basin from private equity firm EnCap Investments, according to people with knowledge of the matter. An agreement could be announced as soon as Monday, said the people, who asked not to be identified because the talks are private. A final agreement hasn...
(WO) – Marathon Oil Corporation, through its affiliated company Marathon E.G. Holding Limited, announced it has signed a Heads of Agreement (HOA) with the Republic of Equatorial Guinea (E.G.) and Noble Energy E.G. Ltd, a Chevron company, to progress the next phases (Phases II and III) in the development of the Equatorial Guinea Regional Gas Mega...