ConocoPhillips gets approval for £1bn UK-Norway North Sea project
ConocoPhillips (NYSE: COP) has received approval from UK and Norwegian authorities for a £1 billion cross-border field in the North Sea.
ConocoPhillips
Norway well slot – Five exploration wells spudded with varying success
As of 23 June, Westwood Global Energy reports that there are four exploration wells active, two in the Northern North Sea and two in the Norwegian Sea. Since the last report, five exploration well programs have completed, with three of the wells being successful. The Slagugle appraisal well was P&A in April, with no results released until May when it was reported as a dry well.
Woodside’s Sunrise still a long shot in East Timor, plate tectonics in focus
Development of the 5.1 trillion cubic feet Greater Sunrise gas and condensate field is back on the agenda for Woodside Energy (ASX:WDS), but the odds of progress look as difficult as ever, reported EnergyQuest. Significantly, all stakeholders in Sunrise should be talking about plate tectonics rather than economics, suggested the consultancy in its latest report.
Equinor in study for offshore wind farm to power series of North Sea platforms
Equinor is studying the potential for a new 1GW wind farm to power a series of oilfields in the North Sea.
Medco Energi eyes more acquisitions in Southeast Asia, ESG in focus
Indonesia’s Medco Energi (IDX:MEDC) is on the lookout for more merger and acquisition (M&A) opportunities in Southeast Asia after successfully buying ConocoPhillips Indonesian assets in a $1.355 billion deal struck last year.
Norway well slot: Two successful exploration targets
As of 30 May, Westwood Global Energy reports that there are five exploration wells active, two in the North Sea, two in the Norwegian Sea, and one in the Barents Sea.
Fitch takes Indonesia’s Medco off rating watch after ConocoPhillips acquisition
Fitch Ratings has removed Medco Energi from rating watch, as the oil and gas company has completed the acquisition of the giant Corridor Block from ConocoPhillips, and the outlook is positive. Its long-term issuer default rating is now at B+.
ConocoPhillips developing new North Sea project targeting 90 million barrels
ConocoPhillips and its partners are targeting 90 million barrels of oil from a new North Sea development.
Pantheon plans out its next steps in Alaska
Pantheon Resources has a multi-billion barrel resource in the occasionally iced over state of Alaska, the company reckons. It will put the theory to the test this summer.
Norway Well Slot: Cambozola, Hamlet and Ormen Lange Deep
As of 26 April, Westwood Global Energy reports that there is one appraisal well and four exploration wells active.
Petronas signs key MoU for $2bn floating LNG project in Sabah
Petronas and Sabah Oil & Gas Development Corporation (SOGDC) have signed a key memorandum of understanding (MoU) that will see the Malaysian national energy company build Sabah’s first and largest near-shore floating liquefied natural gas (LNG) facility estimated to cost MYR8.8 billion ($2.02 billion).
ConocoPhillips eyes 80 years of production from North Sea oilfield
ConocoPhillips has been granted licence extensions to one of its major North Sea oil hubs – which could see its production life reach nearly 80 years.
Firm seeks to sell North Sea discoveries ‘left behind’ by ConocoPhillips
An outfit of North Sea experts is seeking to sell off discoveries which it says ConocoPhillips should “never have relinquished”.
BP, Total and Conoco talk shop with Libya’s NOC
BP, TotalEnergies and ConocoPhillips executives have held talks with Libya’s National Oil Corp. (NOC) on the sidelines of the CERAWeek conference, in Houston.
CNOOC’s $13bn oil, gas deals show China’s supply fears
China National Offshore Oil Corporation (CNOOC) struck $13 billion worth of deals to boost oil and gas supply, as the country aims to avoid a repeat of last year’s energy crunch.
ConocoPhillips closes $1.6bn deal to boost share in APLNG
ConocoPhillips (NYSE:COP) has completed the purchase of an additional 10% shareholding interest in Australia Pacific LNG (APLNG) from Origin Energy for $1.645 billion.
Oil prices at $100 a barrel? What else is on the horizon for the energy sector in 2022
In this latest in our series on ESG investing, Mike Scott assesses the global energy outlook ahead for 2022. Although oil and gas prices are healthy, energy firms will need to stay focused on net zero and emissions targets, and keep an eye on growth areas like hydrogen and other renewable energy sources.
ConocoPhillips posts $8.1bn profit last year, highest since 2013
ConocoPhillips had its most profitable year since 2013 as oil demand and prices recovered from the pandemic-driven crash.
Cost of subsea tie-backs to surge £4.8billion in global market leader Norway
The world’s top market for subsea tie-backs will take an inflation-driven cost increase of £4.8billion on upcoming contract awards through to 2026.
OGUK appoints new HSE director from EnQuest
Oil and Gas UK (OGUK) has appointed a new health, safety and environment (HSE) director from EnQuest, as incumbent Trevor Stapleton is soon to retire.
North Sea oil field hits three billion barrels after 50 years
A North Sea oil field is celebrating production of more than three billion barrels since starting up 50 years ago.
ConocoPhillips pivots to LNG in the Asia Pacific region
ConocoPhillips intends to become the largest shareholder in Australia Pacific LNG (APLNG) project as it raises its stake in the development as part of a reshuffle of its Asian assets.
Indonesia loses another IOC as ConocoPhillips exits in $1.3bn deal
ConocoPhillips (NYSE:COP) will exit Indonesia after agreeing to sell its assets in the country to local independent Medco Energi (IDX:MEDC) for $1.355 billion. The move could be a blow to Indonesia’s image in the longer run as the nation tries to attract foreign investment, but analysts generally see the deal as positive.
ConocoPhillips becomes Permian’s no. 2 producer after Shell deal
ConocoPhillips’s purchase of Royal Dutch Shell Plc’s Permian assets will make it the second-largest producer in the world’s top shale basin, according to data from Enverus.
Petronas closer to final investment on third FLNG after awarding FEED deals
Malaysia’s state-owned energy company Petronas is preparing to take a final investment decision (FID) on its third multi-billion dollar floating liquefied natural gas (FLNG) unit after awarding front-end engineering and design (FEED) contracts. The new-build floater project, dubbed ZLNG, will help solve challenges commercialising gas offshore Sabah in Malaysia.