Ineos makes third major US investment in three years with deepwater purchase
Ineos Energy has acquired the Gulf of Mexico business held by CNOOC Energy Holdings USA, the company’s third major US investment in the past three years.
Offshore
Aberdeen’s MDL wins ultra-deep water SURF deal in Brazil
Flex-lay specialist Maritime Developments Ltd (MDL) has celebrated a new contract win as it attends the Rio Oil and Gas show, now called ROG.e.
Equinor targets US, UK and Brazil for cash flow growth
“But most of the cash flow increase is coming from improvements in the quality of the portfolio. We're shifting from mature legacy assets to next generation assets.”
Equinor’s Bay du Nord project passes 1bn barrels of reserves
An Equinor representative confirmed to Energy Voice the company was “now in the market again with concept and feasibility studies related to the Bay du Nord development project”.
Exiting Egypt, United’s Larkin eyes a return to deal making
“The first target has an NPV of $4bn, for a $30mn well. We know it’s frontier exploration and the chance of success is maybe 20%, but it stands up.”
TechnipFMC lands new work for BP in the Gulf of Mexico
BP has awarded TechnipFMC a major contract for work at its Mad Dog Phase 2 project in the Gulf of Mexico.
Valaris rig to stay in Brazil, with a day rate boost
The rig has repriced from a rate in the “low $200,000s”, the executive said. Now, it is priced at "an effective day rate in the high $400,000s”. The price suggests a day rate of around $488,000.
Shell awards Seatrium work on new FPU
The new FPU replicates about 95% of Whale’s hull and 85% of Whale’s topsides, Shell has said.
International waterway woes pile up price pressures
“Longer supply lines tie up more vessels, boost freight rates, widen origin-destination spreads, and lift bunker demand,” Bank of America Global Research analysts said.
Shell approves Great White wells
Shell said the investment demonstrated its long-term commitment to the Gulf of Mexico.
Exxon starts up third Guyana FPSO, on track to double production
“Each new project supports economic development and access to resources that will benefit Guyanese communities while also helping to meet the world’s energy demand.”
Petronas scores oil discovery offshore Suriname
Vice president of exploration Mohd Redhani Abdul Rahman said the success would “drive further exploration for commercially viable hydrocarbon resources in the surrounding areas”.
Guyana hits another “significant discovery” at Stabroek
Lancetfish-2 found around 20 metres of net oil pay in a new interval, the government said.
Argentina heads to vote as energy industry watches offshore
“As political and policy volatility becomes a feature of the operating landscape, even private companies with a high risk appetite could be facing binding constraints when seeking to invest in Vaca Muerta and offshore plays,” the analyst said.
Venezuela, Trinidad seek to unchain Dragon
Young said his country would work with Venezuela “to advance the development and production of Venezuelan natural gas for export and utilisation in Trinidad and Tobago. We have reached a significant agreement and milestone.”
TotalEnergies aims for Block 58 decision in 2024
The $9 billion project would aim to produce these fields, through subsea wells, to an FPSO. The facility would be around 150 km off the Suriname coast, with the reserves in water depths ranging from 100 to 1,000 metres.
Seatrium scores hat trick with Shell FPU award
The FPU would follow the same model as the Vito and Whale facilities, with Seatrium involved in both.
Exxon, KCA Deutag accident had “potential for fatality”
There were a number of near misses on Hebron in 2021. Incidents included injuries on the facility and a support vessel.
CGX share price slides despite Guyana success
Drilling costs have been an issue at the Wei well. In June, CGX reported these had risen to $190-195mn. Before drilling, the companies had predicted $130-140mn.
Pemex helicopter crashes, two dead
Pemex CEO Octavio Romero Oropeza described it as a “very unfortunate accident”, pledging an investigation into the cause of the problem.
Woodside takes FID on $7.2bn Trion development
Pemex discovered Trion in 2012. The Mexican company brought BHP Billiton in to the plan in 2016 in order to help develop the field. Now, the companies have drilled six wells on the field. Woodside bought BHP in 2022.
CNOOC Ltd launches Brazil project, offshore CCS
“The successful commissioning of the Enping 15-1 oilfield CCS demonstration project will strongly support the company’s efforts in increasing reserves and production and pursuing green and low-carbon development,” said CEO Zhou Xinhuai.
FSO hook up complete, Perenco looks to Brazil’s regulators
Perenco bought a 100% stake in the Pargo, Carapeba and Vermelho fields from Petrobras. After adjustments, Perenco paid $398 million for the assets offshore Rio de Janeiro state. It also took over the decommissioning liability.
SBM wins $3bn FPSO maintenance contract in Guyana
SBM said it would operate the units via an Integrated Operation Model. This will involve seconding ExxonMobil Guyana employees to some onshore and offshore positions.
Exxon greenlights fifth project offshore Guyana
Six FPSOs could be producing on Stabroek by the end of 2027, with capacity of more than 1.2 million bpd. The number of FPSOs could rise to 10, aiming to produce the more than 11 billion barrels.