Asset Management
After a record year for LNG project approvals in 2025, multiyear repairs to war-damaged liquefaction facilities in Qatar and the UAE threaten to slow the growth of global LNG capacity.
The declaration builds on a memorandum of understanding the partners signed with Egypt in May to process Block 10 gas at the country’s LNG export and domestic gas facilities.
Alongside the new subsea awards, Equinor strengthened its position in the 400-million-bbl Bay du Nord development by acquiring BP’s interest in the project.
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The merger will effectively end the 86-year run of UK independent oil producer Premier Oil and give rise to one of the largest companies operating in the North Sea region. -
The acquisition of Weir’s lines of pumps, consumable parts, wellhead, and pressure-control products expands Caterpillar’s well-service capabilities.
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Hurricane Delta is expected to hit Mexico’s Yucatan Peninsula on Wednesday and reach the US Gulf later in the week. Twenty-nine percent of the current oil production and 9% of natural gas production in the Gulf of Mexico is shut in.
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With oil prices still low, Hess decided to sell a stake in one offshore project to help pay to develop a much larger one.
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The latest updates on the North American shale sector’s efforts to consolidate and restructure.
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Equinor plans to cut its global exploration staff by 30% in the next 3 years and plans to drill 30–40 wells globally this year. Ongoing labor strikes have led to the operator shutting in four of its platforms.
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The sale of Chevron’s interest in the IDD project is part of its cost-cutting measures.
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ExxonMobil is evaluating additional development opportunities in the Stabroek Block with plans for five drillships operating offshore Guyana by the end of 2020.
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Bringing the Heat: Aramco Field Tests High-Temperature Chemistry To Slash Tight-Gas Completion CostsSaudi Aramco and university researchers are experimenting with a thermochemical fracturing fluid that aims to eliminate more than half of the pumping horsepower typically required to complete horizontal wells.
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Though shelved by low oil prices, the plan to execute the largest enhanced oil recovery program of its kind offers insights into what it may take for the shale sector to escape pilot mode and scale up gas huff ’n’ puff operations.
