offshore
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Current production from the phase is 400 MMcf/D and expected to peak at 700 MMcf/D. A third phase also is slated to come on stream this year. -
Petrobras and Shell have brought online the Lula field’s seventh FPSO as the firms continue to ramp up production from the pre-salt Santos Basin.
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The national oil company’s aim to lift oil and gas production and reserves over the next few years will rely on growth from big international projects, including those in Nigeria, Guyana, and the US.
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Industry confidence is on the rise, and so is capital spending, according to DNV’s 2019 annual outlook.
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Ahead of the release of the Trump administration's changes to Obama-era rules governing offshore oil platforms, Michael Bromwich said he is worried. "I don't think they are in the public's interest," he said.
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The latest example of the offshore sector's march toward automated wellbore construction will take shape later this year in the North Sea.
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The French major is racking up barrels of deepwater production as part of its large-scale West African push.
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Chevron, ConocoPhillips, Equinor, Shell, and Total are among nine firms looking to explore the Pearl River Mouth Basin.
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The oilfield services sector showed steady revenue growth in 2018 thanks, in part, to increased project sanctioning. With the oil price falling $20 in the past 2 months, however, the future may be murkier than expected.
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The small Gulf-nation is expanding its upstream portfolio to include some of the hottest exploration areas.
