Asset Management
Trafigura will purchase 100,000 metric tons of battery-grade lithium products under a decade-long take-or-pay contract valued at over $2 billion.
The Absheron gas field expansion will supply additional natural gas to Azerbaijan’s domestic market and support its export commitments to Turkey, allowing Baku to stay focused on meeting its gas export obligations to Europe.
A credible custody-transfer record depends on far more than the accuracy of a single meter. It is the product of an integrated measurement chain. While meter performance supports measurement-system integrity, commercial confidence also depends on traceability, governance, and authorization.
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Sanctioned in 2014, the project is the largest deepwater offshore development in Angola. It will produce an estimated 230,000 BOPD from six different fields at peak. -
The contract covers the installation of umbilicals, flying leads, and manifolds for the project, which aims to expand and upgrade subsea facilities for the gas field located offshore western Australia.
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BP ends a year of speculation as to who will buy BHP Billiton’s much-coveted US unconventional business, transforming its Lower 48 portfolio in the process.
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Pipeline bottlenecks have created a wide gap in the price of gas at a key pipeline hub in the Permian compared to the US benchmark level.
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BHGE will sell the division, acquired by GE in 2011 when it bought Dresser, to a private equity investment firm, and a provider of products and services for the distribution and usage of natural gas in Italy. The combined value of the two deals is $375 million.
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Mozambique Rovuma Venture submitted the development plan for the first phase of the project, which will produce, liquefy, and market natural gas from the Mamba fields located in the Area 4 block offshore Mozambique. An FID is scheduled next year, with production expected to begin in 2024.
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The offshore export terminal, capable of accommodating very large crude carriers, could provide access to international markets in Asia and Europe—and higher prices—for Permian, Cushing, and Eagle Ford crude oil.
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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.
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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.
