Future North Sea: ‘Subsea electrification is ready to go mainstream’
Delegates at an Energy Voice event Thursday afternoon heard how a range of technologies, from AI to smarter valves, are enabling the sector in its journey to net zero.
CNOOC
Glengorm: Analysts slash estimates for North Sea discovery
The estimates of recoverable barrels for the CNOOC Glengorm discovery have been downgraded by analysts after a disappointing appraisal campaign.
Glengorm: Appraisal yields ‘no commercial hydrocarbons’ at decade’s largest UK gas discovery
Questions have been raised over the future of Glengorm, hailed as the UK's largest gas discovery in a decade, after an appraisal campaign yielded no commercial hydrocarbons.
China’s CNOOC signs maiden US LNG deals with Venture Global
US-based Venture Global LNG has signed a pair of liquefied natural gas (LNG) supply deals with China National Offshore Oil Corporation (CNOOC). Significantly, the move underscores China’s increasing appetite for US LNG and it marks the first LNG supply agreement signed by a US exporter with CNOOC, China's largest importer of LNG.
UK well slot: Five wells completed in 2021
Westwood Global Energy reports that as of 16 December there was one appraisal well and three exploration wells active in the UK. Completions to date in 2021 are two appraisal wells at 22/26d-3 Glengorm South and 30/13e-12, 12Z Talbot and three exploration wells at 22/6c-B4Z Bacchus South, 16/2a-6 Tiger Lily and 22/1b-12, 12Z, 12Y Fotla.
Cnooc officially cuts links to New York Stock Exchange
Cnooc Ltd, China’s biggest offshore oil and gas driller has officially cut its ties with the New York Stock Exchange following a geopolitical spat with the US.
CNOOC confirms first oil from delayed Buzzard Phase 2 project
Production has kicked off at a major project designed to extend the life of one of the North Sea’s largest producing fields.
EnQuest completes £240m acquisition of Golden Eagle stake
EnQuest has completed its acquisition of Suncor’s stake in the Golden Eagle field in the UK North Sea.
Japan may lose control of its LNG prowess, boosting Asia prices further
Asia gas prices may be high, but over the years they are poised to go even higher due to two key developments that threaten to change Japan’s role and influence in global liquefied natural gas (LNG) markets, according to the latest analysis from Japan NRG.
China to build LNG ships for Qatar in maiden deal
China will build four new liquefied natural gas (LNG) carriers for Qatar Petroleum, as part of a deal worth 2.8 billion Qatari Riyals ($760 million) that will help bolster the country’s fleet, as its North Field expansion progresses. Significantly, it is the first order placed with a Chinese shipyard for LNG vessels by Qatar Petroleum and underscores the strengthening strategic relationship between the two nations.
Another key role for North Sea veteran Ray Riddoch
North Sea oil and gas industry stalwart Ray Riddoch has joined the boardroom team at Sentinel Subsea as chairman.
Qatar signs major LNG deal with China’s CNOOC
Qatar Petroleum has signed a deal with China National Offshore Oil Corporation (CNOOC) for the supply of 3.5 million tonnes per year (t/y) of liquefied natural gas (LNG) over a 15-year term starting January 2022. Significantly, the deal brings Qatari LNG supplies to China under long-term deals to 15.5 million t/y.
Surging gas prices squeeze PetroChina with $3bn loss looming
While most gas suppliers look set to benefit from a global spike in gas prices, PetroChina (HK:857) is one of the few exceptions, as regulated prices and rising gas import losses are set to squeeze China’s largest gas producer.
China’s NOCs to spend $120bn on drilling in effort to cut oil imports
China’s national oil companies, CNPC, CNOOC, and Sinopec, are expected to spend over $120 billion on drilling and well services by 2025 to help meet rising domestic oil and gas demand. With 118,000 wells estimated to be drilled in China, analysts at Rystad Energy reckon there will be significant opportunities for innovative suppliers.
Young energy professionals voyage across Scotland to showcase net zero initiatives ahead of COP26
Several young energy professionals have undertaken a voyage across Scotland to spotlight the country’s net zero offerings.
Keppel delivers Guyana’s second FPSO
Singapore yard Keppel Offshore &Marine (Keppel O&M) has delivered a mega floating storage and offloading (FPSO) vessel dubbed Liza Unity to SBM Offshore that will process oil from the prolific Stabroaek Block offshore Guyana.
Philippines bets on Sampaguita as Forum prepares to drill in disputed waters of South China Sea
The government of the Philippines is eyeing a potentially large gas discovery as UK company Forum Energy prepares to drill in the disputed waters of the South China Sea. But geologists remain skeptical about the potential and any unilateral drilling will likely draw Beijing’s ire.
Well Slot: Appraisals underway for Harbour Energy and CNOOC prospects in UK
Westwood Global Energy reports that as of 31 August there were two appraisal wells and one exploration well active in the UK. Completions to date in 2021 are one appraisal well at 22/26d-3 Glengorm South and two exploration wells at 22/6c-B4Z Bacchus South and 16/2a-6 Tiger Lily.
CNOOC invites ‘alternative strategies’ for Buzzard, Scott and Golden Eagle EPC deal
CNOOC has invited early engagement on the lucrative EPC contract for its Buzzard, Scott and Golden Eagle assets in the North Sea.
China’s CNOOC to boost renewables spend, eyes offshore wind
CNOOC, China’s third-largest oil company, will boost spending on renewable energy by up to 10% per year to 2025, as it eyes returns that are similar to the oil and gas business. By 2050, CNOOC is targeting at least 50% of earnings from new energy.
Fast finish doesn’t bode well for Equinor-BP Tiger Lily exploration well
Westwood Global Energy reports that as of June 28 there were two appraisal wells active in the UK. Completions to date in 2021 are one appraisal well at 22/26d-3 Glengorm South and two exploration wells at 22/6c-B4Z Bacchus South and 16/2a-6 Tiger Lily.
Global E&C brings in Banchory man to spearhead growth push
A Banchory man whose fingerprints are on several major North Sea projects has been hired by Global Engineering and Construction (E&C) to bolster the Granite City firm’s growth plans.
Malaysia’s Petronas and China’s CNOOC sign $7bn LNG deal
Despite China harassing Malaysia’s offshore gas developments last month, Malaysian national oil company (NOC) Petronas and state-backed China National Offshore Oil Corporation (CNOOC) yesterday signed a liquefied natural gas (LNG) supply deal estimated to be worth $7 billion over ten years.
CNOOC hits major milestone on way to phase 2 of Buzzard mega-field
CNOOC has hit a key milestone ahead of first production from phase 2 of the huge Buzzard oilfield in the North Sea.
Shell’s $1bn Abadi divestment process struggles after Sinopec’s interest wanes
Shell has failed to generate any significant interest in the sales process for its share of the giant Abadi LNG project one year after the Indonesian government announced the Anglo-Dutch supermajor’s intention to divest.