offshore

As a disturbance in the Gulf of Mexico continues to develop, about 32% of the oil production and 18% of the natural gas production in the GOM has been shut in.

The new milestone was reached less than a year after the country surpassed 11 million B/D last summer, and is driven by activity in the Permian Basin and new fields in the Gulf of Mexico.

The world’s largest oil producer has awarded $18 billion in engineering, procurement, and construction contracts as part of its Marjan and Berri expansion projects.

The Norwegian operator will increase its ownership of the giant Johan Sverdrup field before the field commences oil production this November.

Early production from Area 1 is the first output from an international operator in Mexico since energy reforms were implemented earlier this decade.

Completion comes despite two cyclones disrupting the project area during installation, McDermott said.

Kuwait Oil Co. signed a $597-million offshore drilling services contract with Halliburton for six high-pressure/high-temperature exploration wells on two jackup rigs in the Arabian Gulf.

In its first 50 years, LNG has become the world’s fastest-growing gas supply source and is now part of an upheaval in the global energy market. Today, the sector stands at a crossroads, and the industry must adopt new thinking to address current and future needs of buyers, sellers, and consumers.

Energy consultancy Wood Mackenzie estimates the find holds some 2 Tcf of gas, making it this year’s seventh-largest discovery worldwide.

Operator Talos Energy now believes Zama’s gross recoverable resource lies in the upper half of its pre-appraisal estimate of 400–800 million BOE. The consortium is working toward a 2020 final investment decision on the project.