Business/economics
The deal between the Republic of the Congo and the Chinese oil and gas company aims to develop the Banga Kayo, Holmoni, and Cayo blocks and raise national oil output to 200,000 B/D by 2030.
The companies said they plan to start deploying digital twin technologies in Oman this year.
Egypt’s newest round of drilling agreements advances its quest to boost investment in mature fields to stop the freefall in gas production.
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The world’s reliable engine of crude demand growth is stalling out, and its impact on the upstream market is already being felt.
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Oil price visibility, projects competing for funds, and regional market softness are all factors resulting in muted demand for deepwater rigs this year.
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Australia’s Ichthys LNG facility will provide feedstock, along with production from legacy Japanese gas fields that will also serve as repositories for CO2 storage.
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Canadian operator expands its Deep Basin gas footprint in Alberta, adding 700 new drilling locations.
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Arcius’ remit covers the Shorouk concession, home to the Zohr gas field whose production decline has been fueled by a lack of investment.
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Deepwater subsea tieback expected online by the end of the decade, targeting more than 300 million BOE.
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The acquisition will add water infrastructure in both the Midland Basin of west Texas and the Williston in North Dakota.
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A dozen new platform supply vessels will be supplied by Bram Offshore and Starnav Serviços Marítimos.
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A new UK-based operating company is set to launch next year with a production profile of nearly 140,000 BOE/D.
