Asset Management
The ASEAN Council of Petroleum and Energy and SPE have taken a step toward deeper regional collaboration, formalizing a Memorandum of Cooperation at OTC Asia 2026. The agreement signals a shared commitment to advancing energy security, sustainability, and technical excellence across ASEAN through expanded knowledge exchange and workforce development.
The transaction creates a new company, NEO NEXT+, which is now the largest independent producer on the UK Continental Shelf.
Conflict‑driven price gains may be offset by higher costs, supply‑chain risks, and a limited appetite for new drilling activity.
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A recent report from Wood Mackenzie highlights the role of natural gas in supporting renewables and reducing emissions. -
The Midland, Texas-based operator said the deal hands it the biggest remaining target in the Midland Basin side of the Permian Basin.
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Fresh permit will allow the project to move forward towards FID this fall, first production expected in early 2029.
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SponsoredElectrical submersible pumps (ESPs) are the backbone of artificial lift operations, enabling the extraction of hydrocarbons from challenging reservoirs. However, their effectiveness is often compromised by the extreme downhole environment, characterized by soaring temperatures, high pressures, and exposure to aggressive fluids.
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The Tiber FPU is expected to follow the Kaskida hub currently being built in Singapore.
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Closed-loop geothermal systems have entered the new-energy arena to generate electricity using the underground as a heat exchanger.
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Equinor will reduce investments in renewables over the next 2 years by 50% to $5 billion and will increase its focus on oil and gas production, expecting more than 10% growth from 2024 to 2027.
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Upgraded sour-gas injection and a new third-generation processing plant are key to keeping supergiant Tengiz producing for years to come.
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The new Sevan-designed cylindrical FPSO is expected to flow 45,000 BOE/D at peak.
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The companies said they plan to work together on developing geopressured geothermal systems for low-carbon energy storage and geothermal power generation.
