Management
The Essington-1 well is the first discovery in the Otway since 2021.
The ruling means the state will take over permitting and enforcement of EPA regulations pertaining to all classes of wells, including injection wells for carbon dioxide storage.
Proposed and final notices of sale represent nearly 80 million acres in the Gulf of Mexico and approximately 1 million acres in Alaska’s Cook Inlet.
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Layoffs have begun at Occidental Petroleum, which needs to slack costs after buying Anadarko, as well as Apache. -
The approval clears the way for final investment decision on the offshore project, which includes a standalone FPSO expected to have a production capacity of 100,000 B/D. First oil is targeted for 2023.
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The plan will extend production of the largest field on the Norwegian Continental Shelf to 2040, while also deferring plans to decommission the Statfjord A platform. Statfjord A was originally scheduled to be decommissioned in 2022.
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GTT has been contracted to provide the Hyundai Heavy Group companies with equipment for eight LNG carrier newbuilds. Hyundai Heavy Industries (HHI) and Hyundai Samho Heavy Industries (HSHI) will build the vessels, with each company set to build four vessels. Each vessel will be capable of transporting 174,000 m3 of LNG.
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Global OPEX is falling, and the UK has emerged as a cost-cutting powerhouse among global offshore regions feeling the squeeze of uncertain oil prices. In pursuit of lower unit prices, Rystad Energy says that operators and contractors have begun nurturing operational improvements.
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The deal comes months after the jointly owned Petrogas NEO UK acquired several UK North Sea assets, including a $635-million purchase of Total's stakes in various fields last July. The 2-year deal with Petrofac is valued around $50 million.
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Talos is hoping to retain its operatorship of the major discovery it made in 2017 offshore Mexico after a reserves audit confirmed the reservoir is shared between two offshore blocks.
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Aker Solutions has signed a contract to provide subsea control systems for Phases 4 and 5 of Beach Energy’s Otway project offshore Victoria, Australia. The order includes 7 sets of Vectus subsea control modules (SCMs), which will be backward compatible to the existing topside MCS and EPU, along with associated stab plates and testing equipment.
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The company will shell out more than $800 million to acquire interests in the Andrew and Shearwater areas, as well as the Tolmount field, offshore Scotland.
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The deal is part of BP’s plan to divest $10 billion in the North Sea so that it can focus on developing core growth areas and construct more cost-effective subsea tiebacks in the region.
