Management
The award comes as a contract release purchase order under a long-term agreement that simplifies ongoing efforts to maintain mature field production in Saudi Arabia.
With the Vaca Muerta home to some of the world’s most-productive wells, and the Permian still going strong, if increasingly gassier, Rystad sees shale as resilient.
Changgui Xu will receive the 2026 Individual Distinguished Award, and CNOOC will receive the 2026 Institutional Distinguished Award.
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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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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. -
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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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.
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A significant discovery of oil off Suriname increases the odds that major oilfields off Guyana will extend across that international boundary.
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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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BW Offshore has signed an extension with Eni subsidiary Nigerian Agip Exploration for the use of the Abo FPSO until the end of 4Q 2020, with options until 4Q 2021. The FPSO has operated at the Abo field offshore Nigeria since 2003. It has a production capacity of 44,000 B/D of oil, a water injection capacity of 33,000 B/D, gas compression capacity of 48.4 MMcf/D, and …
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As capital markets dry up and shale producers look for pathways to growth, oil and gas data analytics firm Enverus predicts the US sector will see a “surge” in mergers and acquisitions in 2020.
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Heavy production spiked in two Canadian wells heated by an electric cable, but it is hard to find customers there at a time when Canadian oil prices and customers remember cables in the past that died young.
