(Bloomberg) – The steep drop in output from U.S. shale wells is turning out to be worse than expected, forcing oil drillers to work even harder to keep production from slipping, research firm Enverus said in its latest report. The firm’s conclusion that there won’t be a surge of American oil production comes after the amount of crude ex...

(WO) – Idox revealed that poor document management is causing unforeseen costs and delays for U.S. energy projects critical to decarbonization. These insights derived from a new industry report reveal that failure to standardize and centralize data is causing contractors to miss budgets and timelines for project delivery, obstructing handov...

(WO) – Saipem has been awarded a new contract by Mellitah Oil & Gas B.V. Libyan Branch, a consortium formed by National Oil Corporation of Libya and Eni North Africa, for the development of the Bouri Gas Utilization Project (BGUP), worth approximately $1 billion. Saipem will undertake revamping of the platforms and of the facilities of the...

(WO) – Bolivia’s state-run oil company Yacimientos Petrolíferos Fiscales Bolivianos (YPFB) made a natural gas discovery at the Remanso-X1 well. The new reservoir will generate approximately $5 billion in gas revenue for the country. “The well is undergoing condensate production tests (48° API). These results will allow it to be classi...

(WO) – Saipem has been awarded two new contracts for E&C offshore activities in Europe, specifically in Romania and in Germany, with a total value of approximately 1.8 billion euro ($1.97 billion). The first contract relates to the Neptun Deep Gas Development Project located in the Black Sea, Romania, for which the award procedure was compl...

(Bloomberg) – ConocoPhillips agreed to a long-term deal to buy liquefied natural gas from an export terminal being developed on Mexico’s west coast.  Under a 20-year agreement, ConocoPhillips will buy approximately 2.2 million tons of LNG annually from Mexico Pacific Limited LLC, the companies said in a statement Thursday. The facility i...

(WO) – Spirit Energy is experiencing its busiest year-to-date in decommissioning with offshore campaigns across the CNS, SNS and East Irish Sea. Picture credit Well-Safe Solutions The most recent activity to complete is the final phase of the campaign to remove the DP3 and DP4 installations in the Morecambe Bay development in the East Irish...

(Bloomberg) – Russia’s oil firms are setting a record pace in their drilling this year, even as the country has agreed with OPEC+ to make longer production cuts. Rigs drilled 14.7 thousand kilometers of production wells in Russia from January to June, 6.6% more than planned and 8.6% more than the same period in 2022, according to data see...

(WO) – North Sea gas is significantly cleaner and supports the drive to net zero greenhouse gas emissions far more than imports, according to analysis published today by the North Sea Transition Authority (NSTA). The research shows that domestically produced gas is on average almost four times cleaner than importing gas in LNG form. This is...

(WO) – Shell Upstream Overseas Services (I) Limited (“SUOS”), a subsidiary of Shell plc, has agreed to sell its participating interest in Indonesia’s Masela Production Sharing Contract (“Masela PSC”) to Indonesia’s PT Pertamina Hulu Energi (“PHE”) and PETRONAS Masela Sdn. Bhd (“PETRONAS Masela”). The sale concerns SUOS’ part...