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US oil, gas rig count jumps 24 to 604 amid recovery confidence from early Q2 calls

US oil, gas rig count jumps 24 to 604 amid recovery confidence from early Q2 calls   The US oil and gas rig count jumped 24 to 604 in the week ending July 23 Enverus said, as early second-quarter earnings calls from oil services framed a picture of an upturning oil industry, slightly looser 2022 upstream capital budgets and more activity to come. The Permian Basin accounted for near...

Shell starts sale of stakes in two Malaysian offshore fields

Shell starts sale of stakes in two Malaysian offshore fields   Shell has launched the sale of its stakes in oil and gas fields it does not operate off the coast of Malaysia, according to a document seen by Reuters. The company announced in March that it was considering selling its stakes in the Baram Delta EOR and the SK307 production-sharing contracts, which are operated by Petronas Carigali Sdn Bhd. The sale process for the two stakes, launched this month, is being run by inve...

First gas from Shell backfill project for Atlantic LNG

First gas from Shell backfill project for Atlantic LNG   Shell Trinidad and Tobago has begun production on Project Barracuda in the East Coast Marine Area in Trinidad and Tobago, a backfill project to support LNG production at Atlantic LNG A major producer of LNG, Atlantic LNG’s four trains have a nameplate capacity of 15 mta. Shell’s equity in the Atlantic LNG plant ranges from 46% to 57.5% in each of the four trains at the facility. Shell director of integrated gas...

BHP looks to adapt to a low carbon economy

BHP looks to adapt to a low carbon economy   BHP is examining options for its oil and gas assets including a sale, as the miner looks to focus on commodities that will be needed in the shift to a low-carbon economy, according to people familiar with the matter The decision to review the future of the petroleum business comes as big miners face pressure to reduce their exposure to fossil fuels and align their businesses with the goals of the Paris climate agreement. BHP’s p...

Aker BP to assess minor gas discovery alongside remaining Barents Sea prospects

Aker BP to assess minor gas discovery alongside remaining Barents Sea prospects   Aker BP ASA and partners will assess a minor gas discovery alongside remaining prospects in production license 858 in the Barents Sea. Preliminary estimates place the size of the discovery at 1.6-2.1 million standard cu m of recoverable oil equivalent. It is not considered to be financially profitable at present. Exploration well 7234/6-1—the first in the license—was drilled by the Deepsea...

Scotland could be set for £10 billion investment through offshore wind bid

Scotland could be set for £10 billion investment through offshore wind bid   BP and German firm, EnBW, have unveiled plans for a potential £10 billion investment in Scotland that they say would make the country the ‘global leader’ in offshore wind. The consortium said that their bid for a lease area off the east coast for a wind farm goes beyond just developing power, with it also aiming to accelerate the country’s ‘entire’ energy transitio...

No oil discovery at well near Norway’s maritime border with Russia

No oil discovery at well near Norway’s maritime border with Russia   The well is located at 72 degrees north, or 290 kilometers north of mainland Norway, an area where oil company Aker BP had high expectations to find oil. On Tuesday, the Norwegian Petroleum Directorate could inform about the drilling being concluded with only minor gas being discovered and no traces of oil. “The discovery is not considered to be financially profitable at present,” the agency w...

Brent Oil: Three reasons to see a rise to $80 by end-September – UBS

Brent Oil: Three reasons to see a rise to $80 by end-September – UBS   Brent Crude Oil traded 2.4% lower after OPEC+ ministers agreed over the weekend to lift supply by 400,000 barrels a day each month from August 2021 through April 2022. WTI and Brent are now down around 7% each from their respective mid-July peaks, with Delta variant concerns weighing on overall risk sentiment. Despite the weekend agreement to raise supply, strategists at UBS remain positive on oil. With th...

Chevron To Drill More Wells Sooner on Israel’s Leviathan as East Med Gas Demand Soars

Chevron To Drill More Wells Sooner on Israel’s Leviathan as East Med Gas Demand Soars   Chevron is having to drill a fifth production well at Israel’s Leviathan natural gas and gas-condensate field to keep production ahead of rising demand, driven by exports to Egypt’s growing LNG hub. Chevron has moved up plans to early 2022 to drill a fifth production well at Israel’s Leviathan gas and condensate field in the Eastern Mediterranean, driven to boost product...

Greenland scraps plans for oil and gas exploration

Greenland scraps plans for oil and gas exploration   Greenland has dropped all its plans for oil and gas exploration because of the climate emergency, saying the price of extraction was too high. Environmental group Greenpeace hailed the decision as “fantastic”, saying there was “no time to lose”. But it comes just as the governments of France, Germany and Italy are poised to decide whether to back a massive gas project in the Russian Arctic. The proje...

US drilling approvals hit 20-yr high

US drilling approvals hit 20-yr high   Approvals for companies to drill for oil and gas on US public lands are on pace this year to reach their highest level since George W. Bush was president from 2001 to 2009, underscoring President Joe Biden's reluctance to more forcefully curb petroleum production in the face of industry and Republican resistance. The Interior Department approved about 2,500 permits to drill on public and tribal lands in the first six months of the year, a...

The Guañizuil IIA solar plant in Argentina in commercial operation

The Guañizuil IIA solar plant in Argentina in commercial operation   Equinor and Scatec are pleased to announce that the 117 MW solar power plant in Argentina is now in commercial operation. The Guañizuil IIA plant is in the Province of San Juan in the northwest of Argentina. The plant is owned and operated 50% by Scatec and 50% by Equinor. It is expected to produce about 305 GWh annually, providing electricity to 80,000 households. “Solar will be among the...

Aker Energy aims to submit revised plan for Pecan field by end-2021

Aker Energy aims to submit revised plan for Pecan field by end-2021   Ghana-focused oil firm Aker Energy aims to approve a revised plan for developing the Pecan oilfield off Ghana by the end of this year, its parent company Aker ASA said on Friday. The company had previously estimated the field's reserves at 334 million barrels of oil, before putting on hold the final investment decision in March 2020 due to the fall in oil prices and the COVID-19 pandemic. "The company...

Serinus Energy discovers new gas field near Moftinu in Romania

Serinus Energy discovers new gas field near Moftinu in Romania   Serinus Energy PLC on Thursday said the drilling of the Sancrai-1 well in Romania has discovered gas. Shares in Serinus Energy were up 4.8% at 2.52 pence each in London on Thursday afternoon. The drilling of the well has concluded, achieving the total planned drilling depth of 1,600 metres. The well was drilled five days ahead of schedule and approximately 19% below budget. This newly discovered gas field lies a...

Global E&C Strengthens leadership Team with New Appointment

Global E&C Strengthens leadership Team with New Appointment   Global Engineering and Construction (Global E&C), Scotland’s leading engineering, procurement and construction service provider to the oil and gas industry, has appointed Derek Thomson as its new Director of Projects to support the strategic growth plans of the company. Thomson joins Global E&C from Worley, having held various positions during his six years and most recently as Operations Director for t...

KCA Deutag creates joint venture in Kazakhstan

KCA Deutag creates joint venture in Kazakhstan   KCA Deutag Group and OGCC JSC KazStroyService have created a joint venture (JV), KCA Deutag Kazakhstan LLP – 51% owned by KCA Deutag Drilling GmbH and 49% by OGCC JSC KazStroyService Co. The JV agreement concluded in early 2021 between the two companies led to the formation of KCA Deutag Kazakhstan LLP, which will focus on PSA projects in Kazakhstan, covering engineering, procurement and leasing of drilling rigs, as well as the...

NEO Energy Completes Zennor Petroleum Buy

NEO Energy Completes Zennor Petroleum Buy   NEO Energy has announced the completion of its acquisition of Zennor Petroleum Limited. The completion further solidifies NEO’s position among the largest oil and gas producers in the UK Continental Shelf (UKCS) and delivers an asset portfolio with significant scope for organic growth, NEO Energy said in a statement posted on its website. Following the acquisition, the Zennor Petroleum team will now join NEO Energy, increasing o...

Highlights From The BP Statistical Review Of World Energy 2021

Highlights From The BP Statistical Review Of World Energy 2021   Last week the BP Statistical Review of World Energy 2021 was released, covering energy data through 2020. The Review provides a comprehensive picture of supply and demand for major energy sources on a country-level basis. It is a primary data source for numerous companies, government agencies and non-government organizations. Since its release, I have been busy analyzing the data and creating graphics. I strive to unc...

Equinor Extends Maersk Rig's Stay at Martin Linge Field

Equinor Extends Maersk Rig's Stay at Martin Linge Field   Norwegian oil company Equinor Energy has exercised an option to add well intervention work to the previously agreed contract for Maersk Drilling's Maersk Intrepid jack-up drilling rig. The agreement is for work at the Martin Linge field offshore Norway, which recently started production after years of delays. Maersk Drilling said the added well intervention scope has a firm duration of 31 days, which means that t...

China's CNOOC Dives into Uncharted Deep Waters in Bold Gas Pivot

China's CNOOC Dives into Uncharted Deep Waters in Bold Gas Pivot   When the first gas from CNOOC Ltd's new ultra-deep field in the South China Sea started flowing in late June to the world's largest customized floating platform 1,500 meters above the sea bed, it marked a key phase in China's gas drive. For CNOOC, the output from one of Asia's deepest gas fields proved the company had the engineering chops to complete its first wholly-owned project on schedule a...
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