Asset Management
The long-term outlook analysis says a potential shift toward new construction could push 2026 production 3% above 2025 levels.
Lower operating expenditures and a changing asset mix helped UKCS operators cut average production costs by 9% year over year, despite relatively flat production levels, according to the NSTA.
The deal adds 40,000 B/D of production and epands Cenovus’ SAGD footprint with three Alberta assets.
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Leveraging its existing natural gas interests, plus renewables potential in Egypt and Mauritania, BP is now factoring in Africa to realize its global ambitions as a hydrogen producer. -
Operator also moves forward with electrification of the Njord field.
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Barriers remain, but oil companies across the world are now in a position to reap big profits by capturing methane instead of flaring and venting it.
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Boosting gas production from Israel’s Tamar offshore gas field, combined with gas from the neighboring Leviathan field, will further the ambitions of both Israel and Egypt in the Eastern Mediterranean.
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A breakthrough fusion demonstration at Lawrence Livermore National Laboratory produced more energy than it used—a historic first.
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Transocean rigs will start new contracts in Brazil in the second half of 2023.
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Development of these offshore fields carries a combined price tag net to Aker BP of $19 billion.
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The French supermajor is looking to drill Lebanon's first successful exploration well by the end of next year.
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Both companies are set to increase their investment in the Permian Basin in the new year.
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NewMed’s planned merger with Capricorn Energy may benefit the Israeli company’s Moroccan offshore activities considering that Capricorn had explored the same area in its previous business incarnation.
