Field/project development
Equinor said it found between 14 million and 24 million BOE with its most recent exploration well in the Polynya Tubåen prospect.
BP sanctioned development of the Kaskida in 2024, with first oil from the high-pressure project expected in 2029.
The project partners and the Newfoundland and Labrador government reach agreement over life-of-field benefits, royalties, and an equity option, moving development toward sanction in 2027.
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As cutting-edge technologies unlock geothermal potential, Japan is channeling investments into powerhouse projects across the US, Indonesia, and New Zealand and priming its own reserves for a clean energy boom at home. -
Updates about global exploration and production activities and developments.
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Vår Energi and partners have officially sanctioned the Previously Produced Fields Project in the Greater Ekofisk Area. The redevelopment is expected to add high-value barrels starting in 2028, extending the production life of one of Norway’s key offshore regions.
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The company engineered, designed, and manufactured multiple internal floating roof systems and tank-top equipment packages for TotalEnergies’ new storage terminal in Equatorial Guinea.
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Fugro’s entry into the UK’s small modular reactor market follows its breakthrough in the US, where it secured a contract in February to perform a geoscience site investigation for the recommissioned Palisades Nuclear Power Plant in Michigan.
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The new development is estimated to hold 46 million bbl of recoverable oil and is planned to start up in late 2028.
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The project in the US Gulf is expected to add about 15,000 BOEPD to the deepwater Atlantis project at peak production.
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First oil is expected from Phase 1 of the project in 2028, with up to four more phases planned.
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The Gorgon Phase 3 project aims to counter declining reservoir pressure to sustain gas supplies to Western Australia’s domestic market and support LNG exports to Asia.
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The $100-billion project is widely considered the largest unconventional development outside of the US and is noted by Aramco as the largest nonassociated gas development in the kingdom.
