Asset Management
Industry fundamentals continue to strengthen as rising utilization and scarce replacement capacity support higher rig valuations.
The GRMS system of standardization and classification for geothermal resources, led by a coalition of stakeholders in collaboration with Project InnerSpace and the Society of Petroleum Engineers, will be published in November.
Argentina’s President Javier Milei met with TotalEnergies CEO Patrick Pouyanné and Eni CEO Claudio Descalzi in Paris to discuss Argentina’s energy sector, including projects linked to the Vaca Muerta shale formation and the development of the Argentina LNG export project.
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The French major said it plans to fast-track the development of Acacia-5, expecting to increase production in Angola’s Block 17 by 6,000 B/D. -
More than a dozen companies have joined the advisory board of a new US Department of Energy center dedicated to expanding geothermal energy in the US.
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The latest edition of ISO 20815 extends the petroleum industry's production assurance and reliability management framework to carbon capture, hydrogen, ammonia, and wind assets.
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DNO outbid Genel Energy for the deal, which Genel said it may challenge, according to a filing with the London Stock Exchange.
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Under the agreement with PDVSA, Eni will oversee the field's technical, financial, and commercial management. Separately, independent energy company GeoPark has announced its strategic entry into Venezuela through the Bare Block, a large-scale heavy-oil-producing asset.
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Under a recently signed contract, the company will evaluate more than 120 wells across mature fields in an effort to optimize production.
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The startup company’s Midland Basin demonstration plant, located in the Permian Basin, takes a major step toward commercialization by proving its direct lithium extraction technology can refine battery-grade lithium carbonate from produced water under multiple 24/7 production cycles.
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The power-purchase agreement (PPA) marks largest enhanced geothermal PPA and is expected to accelerate the delivery of continuous, carbon-free power from the Cape Station GeoCluster in Utah.
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Increased capacity from new terminals and expansions drove up exports of liquefied natural gas at the quickest rate since 2016.
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While discussions on the commercial terms for gas sales continue, the release of the jackup rig intended to drill production wells calls into question Shell’s plans for first gas in 2027.
