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Latest news - International

ConocoPhillips terminate Valesto rig contract

ConocoPhillips terminate Valesto rig contract   Velesto Drilling’s contract with ConocoPhillips in Malaysia for the NAGA 7 jack-up rig is considered terminated following an incident earlier this year in which the rig tilted and submerged, resulting in a total loss of the asset. ConocoPhillips hired the NAGA 7 in March 2021 for the drilling of up to three wells off Sarawak. Whil...

ExxonMobil and Chevron among host of big names determined to make Houston a carbon capture leader

ExxonMobil and Chevron among host of big names determined to make Houston a carbon capture leader   Houston is likely to house one of the world’s largest, most advanced carbon capture and storage (CCS) hubs with a host of multinationals joining forces in Texas. Eleven companies have expressed interest in supporting the large-scale deployment of CCS technology in Houston. Calpine, Chevron, Dow, ExxonMobil, INEOS, Linde, LyondellBasell, Marathon Petroleum, NRG Energy, Phillips...

Chevron CEO Warns of High Energy Prices

Chevron CEO Warns of High Energy Prices   The world is facing high energy prices for the foreseeable future as oil and natural gas producers resist the urge to drill again, according to Chevron Corp.’s top executive. “There are things that are interfering with market signals right now that we haven’t seen before. Eventually things work out, but eventually can be a long time,” Chief Executive Officer Mike Wirth said Wednesday in an interview at Bloomberg New...

OGV Energy News Weekly 10/09/21

Energy News Update(16/09/21) OGV Energy, keeping you up to date with all the latest energy sector news.    

Maritime decarbonisation to cruise forward in Orkney

Maritime decarbonisation to cruise forward in Orkney   Orkney is to be the setting for an ambitious seven-month project demonstrating technologies to enable maritime decarbonisation. The £2.2 million HIMET (Hydrogen in an Integrated Maritime Energy Transition) project will explore solutions for decarbonising ferries as well as shore-side activities in ports. It is one of 55 projects selected for funding under the Department for Transport’s flagship Clean Maritime Dem...

Norway 2021 licensing round attracts bids from 31 oil firms

Norway 2021 licensing round attracts bids from 31 oil firms   A total of 31 oil companies have submitted bids for exploration acreage offshore Norway in a so-called predefined areas (APA) licensing round, the country's energy ministry said on Wednesday. Companies seeking new exploration acreage include Equinor, Aker BP, ConocoPhillips and Lundin Energy among others, the ministry added. Read the latest issue of the OGV Energy magazine HERE.

McDermott’s Amazon tapped for Deepwater Development in Gulf of Mexico

McDermott’s Amazon tapped for Deepwater Development in Gulf of Mexico   McDermott’s Amazon vessel, following a sophisticated upgrade to its ultra-deepwater capabilities, is coming to the Gulf of Mexico to support a subsea contract for the Whale Development in Alaminos Canyon. “This contract, which will take place in a water depth of more than 9,000 feet, is a massive opportunity to demonstrate how the Amazon, with its industry-leading pipelay capabilities, is rede...

Oil industry braces for more disruption as Nicholas barrels toward Texas

Oil industry braces for more disruption as Nicholas barrels toward Texas   The oil and gas industry, still reeling from Hurricane Ida two weeks ago, is bracing for more disruption as Tropical Storm Nicholas barrels toward the Texas coast. Nicholas, forecast to dump as much as two feet of rain on the Houston area, is expected to make landfall Monday evening as a possible Category 1 hurricane. The storm threatens to bring flash flooding and storm surge to the nation’s largest c...

Senegal: Ambitious Oil & Gas Development Program to Boost Economy

Senegal: Ambitious Oil & Gas Development Program to Boost Economy   Senegal is becoming one of the most exciting oil and gas plays to emerge in recent years in sub-Saharan Africa’s largely underexplored oil and gas sector. The country may be a relatively new player in terms of production coming on stream, but in fact, oil and gas exploration has been taking place in the country as far back as 1961. It was only until major world-class offshore oil and gas discoveries were mad...

UK's EnQuest sees 'great future' for Brent mainstay Magnus as BP link severed

UK's EnQuest sees 'great future' for Brent mainstay Magnus as BP link severed   North Sea operator EnQuest sees a long life ahead for its Magnus oil field, a traditional mainstay of Brent crude supply, despite recent technical troubles and a decision to sever a dependence on gas from BP-operated fields, a senior company official has said. EnQuest, a London-listed specialist in late-life fields previously operated by the majors, took over Magnus from BP in 2017-18 along...

Exxon Mobil discloses another oil discovery offshore Guyana

Exxon Mobil discloses another oil discovery offshore Guyana   U.S. oil major Exxon Mobil Corp said on Thursday it had made a discovery at Pinktail in the Stabroek Block offshore Guyana, as it develops a major new oil and gas find. Exxon operates the 6.6-million-acre Stabroek Block as part of a consortium that includes Hess Corp and China's CNOOC Ltd. It has made at least 20 discoveries there. The company said the find would add to the previous recoverable resource estimate o...

Equinor awarded drilling permit in production licence 630 offshore Norway

Equinor awarded drilling permit in production licence 630 offshore Norway   The Norwegian Petroleum Directorate (NPD) has granted Equinor Energy AS a drilling permit for wells 35/10-7 S and A. Wells 35/10-7 S and A will be drilled from the West Hercules drilling facility in position 61°01'03.291"N and 03°17'37.367"E. The drilling programme for wells 35/10-7 S and A relates to the drilling of a wildcat well and an appraisal well in production licence 630...

Could we see $200/b oil

Could we see $200/b oil   Global oil prices could soar to $200/b if no new investments are made in the oil and gas sector in the short-term, Oman's energy and minerals minister said Sept. 9, in reply to the International Energy Agency's assessment for reaching net-zero emissions by 2050. The IEA said in a May 18 report that, under an energy scenario needed to put the world on a path to net-zero emissions by 2050, there should be no new oil and gas developments and that glob...

Petrobras plans to sell two Santos Basin fields

Petrobras plans to sell two Santos Basin fields   Brazilian oil major Petrobras has put up for sale its Uruguá and Tambaú fields, located in the Santos Basin, in the state of Rio de Janeiro. Petrobras said the move is in line with the strategy of portfolio optimisation, reducing debt and improving the company’s capital allocation, increasingly concentrating its resources on assets in deep and ultra-deep waters. The fields belong to the BS-500 concession, whic...

Workers going back to another Shell platform in Gulf of Mexico

Workers going back to another Shell platform in Gulf of Mexico   Oil major Shell is redeploying its workers to another deepwater Gulf of Mexico asset, the second one this week, following an evacuation due to Hurricane Ida. However, the majority of the company’s output remains offline. Shell is beginning the process of redeploying personnel to its Auger asset, according to the company’s update on Tuesday. Back in 1994 when it started operating, Auger was the world&rsquo...

Neptune Energy reportedly mulling merger with Harbour Energy

Neptune Energy reportedly mulling merger with Harbour Energy   Neptune Energy is reportedly contemplating a merger with UK-based Harbour Energy to form one of the largest oil and gas companies in Europe. The company is working with an advisor to explore a potential merger with its rival, people familiar with the matter told Bloomberg. The combined entity could be valued at $10bn or more, if a deal is reached, the publication said. A merger of the two companies would combine t...

Shell and Kongsberg in pact for digital transformation of wells

Shell and Kongsberg in pact for digital transformation of wells   Oil major Shell and Kongsberg Digital have entered into a strategic partnership agreement to collaborate and accelerate digital solutions and transformation for well delivery and performance. During the previous few years, Kongsberg Digital has been supporting digitalization within the oil and gas industry. This strategy has been founded on agile methodologies, open ecosystems, data integration, and people-centric so...

Over 80% Of Oil Output In Gulf Of Mexico Still Offline A Week After Ida

Over 80% Of Oil Output In Gulf Of Mexico Still Offline A Week After Ida   More than 80% of oil production in the Gulf of Mexico remains shut in after Hurricane Ida, a U.S. regulator said on Monday, more than a week after the storm made landfall and hit critical infrastructure in the region. Energy companies have been struggling to resume production after Ida damaged platforms and caused onshore power outages. About 1.5 million barrels per day of oil production, or 84%, remains shut...

BW Energy reports results from Dussafu discovery

BW Energy reports results from Dussafu discovery   BW Energy has concluded the drilling and the logging of the exploration well, Hibiscus North (DHBNM-1) in the Dussafu block offshore Gabon, which was discovered in August. BW Energy has now concluded the drilling and the logging of the exploration well, Hibiscus North (DHBNM-1). The well is located in a separate structure, approximately 6 km north-northeast of the Hibiscus discovery in 115  of water depth. The well was drilled...

Wintershall Dea finds gas at Norwegian oil find

Wintershall Dea finds gas at Norwegian oil find   German operator Wintershall Dea has proved a gas accumulation at its Bergknapp oil discovery in the Norwegian Sea, the company reported on September 6. Wintershall Dea drilled appraisal and re-entry wells at the 2020 Bergknapp find, confirming oil discoveries in the Garn and Tilje formations and proving the gas accumulation in the Are formation. It estimates the size of the oil discoveries at between 40mn and 84mn barrels of oil equ...
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