Field/project development
The Loran Phase 2 license award builds on BP’s growing presence in Venezuela as it seeks to develop offshore projects, particularly shared fields near Venezuela’s maritime border with Trinidad and Tobago.
ExxonMobil and its Area 4 partners have awarded $1.1 billion in pre-investment contracts for long-lead upstream equipment supporting Mozambique's Rovuma LNG project. The awards, led by OneSubsea, mark a key step toward FID as development advances on ExxonMobil's largest global investment.
Gran Tierra will refocus its investment strategy to strengthen its portfolio in Canada and Azerbaijan while Maurel & Prom, majority owned by Pertamina’s international upstream arm, grows its South American footprint in Colombia and Ecuador.
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Oil production from West Africa has fallen from last year’s depressed levels and will remain down without increased investment. -
Shell’s sibling solutions for its Vito and Whale deepwater US Gulf developments are proving the “design one, build two” model can work.
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Over the past 30 years Caspian nations such as Azerbaijan and Kazakhstan have built thriving economies on oil and gas wealth led by global energy companies and a handful of megaprojects. As times change, that model may need to be reassessed.
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FPSO Sepetiba will be deployed at Petrobras’ Mero field in the Santos basin offshore Brazil.
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Cabaça North will increase and sustain the plateau of the FPSO Armada Olombendo.
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Project is part of BP’s plan to grow GOM production to 400,000 B/D by mid-decade.
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The Netherlands will end gas production from giant field discovered in 1959.
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Operator will not participate in Sea Lion project in the Falkland Islands.
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The new pledge from the world's largest oil producer comes just days before the 26th United Nations Climate Change Conference is set to meet in Glasgow, Scotland, to discuss new climate targets and initiatives.
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More time and money are needed for Johan Castberg and others, while government looks to boost hydrogen research.
