Management
Westwood Energy analysts suggest operators have an opportunity to secure rigs at lower rates for their 2027 drilling programs.
GeoMap Europe is the latest in a series of interactive global geothermal maps that combine large subsurface and surface data sets to highlight where geothermal resources and development opportunities are strongest for power, heat, cooling, and storage.
The North Sea Transition Authority’s survey highlights shifting innovation and deployment priorities across 46 operators, offering a basinwide snapshot of technologies driving efficiency gains, strengthening asset integrity, and accelerating progress toward net-zero performance in the UK North Sea.
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The $1.5-billion deal delivers a world market share of 10%, including a 16.6% stake in the US Cameron LNG project. -
Norway hopes for a continued rise in offshore exploration and development activity to ensure steady oil and gas production through the next decade.
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The past years’ stable workforce levels in the upstream petroleum industry—balanced by increases in shale workers and decreases in offshore workers—are set to shift with a boost in offshore projects, one research firm says.
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The oil and gas industry has vastly accelerated the pace of approving investments for new projects over the past 18 months. New facilities worth more than $110 billion have been approved for development since the beginning of 2017 vs. only $50 billion in 2016.
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Energy activity has shown solid expansion, but to increase drilling, companies need a higher average oil price compared to last year’s surveys, reflecting a steady increase since 2Q and 4Q in 2017. The ability to find workers and limited pipeline capacity could limit near-term growth.
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Scheduled for startup in 2022, the FPSO is expected to produce up to 220,000 BOPD on the development offshore Guyana. Liza is one of eight discoveries ExxonMobil has made in area.
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Supply growth into next year is projected to outpace global demand, bringing markets once again into a state of relative imbalance.
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Just 2 months after issuing more than a hundred licenses, the Oil and Gas Authority begins the process again for a whole new set of blocks.
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The company announced it would “initiate the process” of marketing its UK Central North Sea fields as part of a portfolio review.
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The $28-billion Shah Deniz Phase 2 project off Azerbaijan will supply gas to Europe through the Southern Gas Corridor pipeline system.
