Production
Talos Energy founder Tim Duncan has been named executive chairman of newly formed 1947 Oil&Gas, which will focus on acquiring and developing mature, shallow-water assets through its buyout of Renaissance Offshore. The deal is expected to close in Q2 2026.
Operators aren’t rushing to drill, even as the closure of the Strait of Hormuz drives oil prices up.
The authors write that by replacing outdated, labor-intensive processes with an integrated, cloud-based platform, companies can streamline planning, improve accuracy, and foster better coordination across teams and vendors.
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Whether it’s reviving inactive gas-condensate wells or identifying overlooked reserves in brownfields, operators are making the most of older wells and fields. -
An oversupply of LNG carriers is putting downward pressure on charter rates, pushing them to historic lows. Newbuild LNG carrier deliveries have been outpacing the construction and permitting of new liquefaction facilities needed to support them.
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The supermajor believes oil and gas will continue to play a major role in the global energy mix over the next 25 years.
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The Halten East project in the Norwegian Sea involves fields that if developed independently would be considered too marginal to be economically attractive.
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The production unit for the Balder field in the North Sea is expected to go on-stream in the second quarter of 2025 following the staged tow-out of the FPSO.
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Industry leaders say they believe oil and gas will continue to play a pivotal role in the energy mix in the lengthening energy transition timeline.
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Experts speaking at CERAWeek 2025 lauded industry's shift from focusing on the energy transition to prioritizing oil production.
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Finalists will present their technologies before the judging panel on 24 March, and the recipient of the award will be announced 25 March during the SPE/ICoTA Well Intervention Conference and Exhibition.
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Technology and partnerships play a pivotal role in how the oil industry finds and produces energy from frontier regions and brownfields, both now and in the future.
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Kuwait Petroleum’s managing director of planning and finance said that more investment will be needed to keep Kuwait’s mature oil fields flowing while production is brought on stream.
