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Latest news - International

Port of Aberdeen looks into underwater hydrogen storage

Port of Aberdeen looks into underwater hydrogen storage   Port of Aberdeen has tapped Subsea 7 to investigate the feasibility of establishing underwater hydrogen storage at South Harbour. The Oslo-listed company will carry out extensive engineering studies to identify the optimum technology solution and a suitable offshore site, as well as outline a business case. The Port of Aberdeen’s ‘H2Shore – Hydrogen coastal storage and distribution’ project has se...

AREG launches 2024 photography competition to put renewable energy in the frame

AREG launches 2024 photography competition to put renewable energy in the frame   Amateur photographers are being invited to help showcase Scotland’s diverse contribution to the energy transition by submitting images for Aberdeen Renewable Energy Group’s (AREG) annual calendar competition. The competition, sponsored by the Broadshore and Bellrock floating offshore wind projects, is open to people of all ages and is looking for submissions that capture renewable energy i...

Exploring Angola’s Upstream Potential

Exploring Angola’s Upstream Potential   Angola is home to significant upstream potential, as demonstrated by the sharp contrast between its proven and estimated reserves: 9 billion versus 57 billion barrels of oil and 11 trillion versus 27 trillion cubic feet of natural gas. Its three major basins – Kwanza-Benguela, Namibe and Lower Congo – hold development opportunities across each stage of the exploration life-cycle, from frontier exploration to mature producing...

Shell award Northern Ocean a contract extension

Shell award Northern Ocean a contract extension   Offshore drilling contractor Northern Ocean has secured a contract extension from the UK-headquartered Shell for operations in Namibia, where the oil major made another oil discovery earlier this year. In addition, another one of the rig owner’s semi-submersible rigs, which TotalEnergies employed for multi-country operations, is expected to start its drilling assignment later this quarter. Back in November 2022, Offshore Energ...

Could another OPEC cut see crude return to $100 a barrel?

Could another OPEC cut see crude return to $100 a barrel? Analysts consider how high oil prices could go with another output reduction   Oil prices have rallied this week with Brent (BZ=F) and US West Texas Intermediate (CL=F) trading around $77 (£62.28) and $73 a barrel respectively, buoyed by the latest US stockpile data and a crude output warning from Saudi Arabia. The last time crude surged above $100 a barrel was in February 2022, as a result of Russia’s invasio...

Neptune Energy starts gas production at Adorf Z17 well, Germany

Neptune Energy starts gas production at Adorf Z17 well, Germany   Neptune Energy today announced first production from its operated Adorf Z17 gas well in the municipality of Georgsdorf, north western Germany. The Z17 well - in the Carboniferous formation - is expected to increase Neptune’s production from the Adorf licence by 1,800 barrels of oil equivalent per day to around 6,300 boepd. Construction of a dedicated processing plant at the site for treatment of the gas was...

$141M Permian Basin oil and gas deal finalized as more companies move into region

$141M Permian Basin oil and gas deal finalized as more companies move into region   A $141 million acquisition in the Permian Basin became the latest sale to close in the region as it was expected to continued growing in production of both oil and natural gas. Kimbell Royalty Partners said May 17 it completed a deal announced in April to buy assets on the eastern Midland sub-basin of the Permian in Howard and Borden counties in Texas. The acquired assets included about 60,000 ac...

Odfjell Technology delivers rigless P&A unit to Norwegian onshore geothermal project

Odfjell Technology delivers rigless P&A unit to Norwegian onshore geothermal project   Odfjell Technology, an integrated supplier of offshore drilling and well operations, well service equipment including project and engineering services, has successfully deployed its innovative rigless plug and abandonment (P&A) unit for a geothermal pilot project in Tromsø, Norway. The downhole conditions for further testing and development of a groundbreaking underground heat stor...

OPEC chief says underinvestment in oil, gas sector could trigger market volatility

OPEC chief says underinvestment in oil, gas sector could trigger market volatility   OPEC Secretary General Haitham Al Ghais said on Monday that underinvesting in the oil and gas sector could cause market volatility in the long term and imperil growth. He also said the world needs to focus on reducing green house gas emissions rather than replacing one form of energy with another, stressing that major investments were needed in all energy sectors. “That is the truth that n...

Mad Dog Phase 2 Project, Gulf of Mexico

Mad Dog Phase 2 Project, Gulf of Mexico   The Mad Dog Phase 2 project involved the development of southern and southwestern extension of the Mad Dog Field in Gulf of Mexico. Mad Dog project is operated by BP with 60.5% interest. Other partners include Woodside Energy (23.9%) and Chevron USA-affiliate Union Oil Company of California (15.6%). BP reached a final investment decision (FID) for the development of the Mad Dog Phase 2 in December 2016. The project began production in...

Announcement of dividend per share in NOK for fourth quarter 2022

Announcement of dividend per share in NOK for fourth quarter 2022   Equinor announced on 8 February 2023 an ordinary dividend per share of USD 0.30 and an extraordinary dividend per share of USD 0.60 for fourth quarter 2022. The NOK dividend per share is based on average USDNOK fixing rate from Norges Bank in the period plus/minus three business days from record date 12 May 2023, in total seven business days. Average Norges Bank fixing rate for this period was 10.6392. Total cas...

Million-dollar seismic technology deal for Nigeria O&G onshore exploration

Million-dollar seismic technology deal for Nigeria O&G onshore exploration   The global expert in onshore seismic acquisition technology and solutions, STRYDE, has been awarded a contract worth over $1 million for the supply of 10,000 seismic receiver nodes and its “Nimble” node receiver system in Nigeria. STRYDE’s seismic sensor technology will be utilised on an upcoming 3D seismic survey conducted by Nigerian geoscience solutions provider, ATO Geophysical Li...

TotalEnergies signs Suriname PSC

TotalEnergies signs Suriname PSC TotalEnergies and partners signed production sharing contracts on Blocks 6 and 8 in Suriname with state-owned Staatsolie Maatschappij Suriname.   TotalEnergies and partners signed production sharing contracts (PSC) on Blocks 6 and 8 in Suriname with state-owned Staatsolie Maatschappij Suriname (Staatsolie). The blocks were awarded to TotalEnergies in the Suriname Shallow Offshore Bid Round 2020-2021. Partners in the blocks will license new 3D sei...

Neptune Energy welcomes official opening of the Njord field

Neptune Energy welcomes official opening of the Njord field   Neptune Energy today welcomes Equinor’s announcement of the official opening of the Njord field in the Norwegian Sea. Following a major upgrade, Njord is now expected to produce oil and gas for another 20 years. Neptune Energy’s Managing Director for Norway and the UK, Odin Estensen, said: “We congratulate Equinor for their safe and successful start-up of the Njord field and the tie-back and start-up of...

ONEOK And Magellan Merger To Create $60-Billion Pipeline Giant

ONEOK And Magellan Merger To Create $60-Billion Pipeline Giant   ONEOK will buy Magellan Midstream Partners in a cash-and-stock deal valued at $18.8 billion, creating a combined U.S. oil and gas pipeline giant with a total enterprise value of $60 billion, the two major pipeline operators said on Sunday. Under a merger agreement, primarily gas-focused ONEOK will buy all outstanding units of Magellan for $25.00 in cash and 0.6670 shares of ONEOK common stock for each outstanding Mage...

John Wood Group suitor drops £1.7bn takeover plans

John Wood Group suitor drops £1.7bn takeover plans   US firm Apollo Management said it would not be making an offer for Aberdeen-based Wood Group, just two days before the deal deadline. John Wood Group’s private equity suitor has ditched plans for a £1.7 billion takeover of the oil and gas engineering firm. US firm Apollo Management said it would not be making an offer for Aberdeen-based Wood Group, just two days before the May 17 deal deadline to make a firm...

TotalEnergies strengthens its Suriname portfolio with two offshore blocks

TotalEnergies strengthens its Suriname portfolio with two offshore blocks   French energy giant TotalEnergies has increased its presence in Suriname, thanks to the inking of production sharing contracts (PSCs) for two offshore blocks. The signing of these PSCs comes after Chevron and a consortium between TotalEnergies and QatarEnergy submitted winning bids in June 2021 for blocks offered in the Suriname Shallow Offshore (SHO) Bid Round 2020/​2021, which closed for bidding on 30 Apr...

TechFest’s Industry Competition Returns For 2023

TechFest’s Industry Competition Returns For 2023 Registrations open for STEM Next   A TechFest competition which challenges senior pupils and students to research and write an essay is back for 2023. Bridging the gap between school education and higher education/working environments, STEM Next has strong links with industry and is sponsored by Energy Resourcing, Ocean Winds, Salamander, Stromar and CNOOC International. STEM Next is a solo project which requires the you...

Saudi Aramco records 19% drop in annual profits amid falling oil prices

Saudi Aramco records 19% drop in annual profits amid falling oil prices   Saudi Aramco announced a 19% drop in quarterly profits when compared with the same period in 2022. This marks the first year-on-year decline for the company’s profits since 2020. Saudi Aramco, which is primarily owned by the Saudi Arabian government, recorded a profit of $31.9bn in the first quarter of 2023, compared with $39.5bn for the same period last year. Other oil majors have recorded record pr...

Invictus Strikes Oil, Gas in Zimbabwe

Invictus Strikes Oil, Gas in Zimbabwe   Invictus Energy Ltd. announced Monday oil, gas and helium finds with commercial viability on its Mukuyu-1 drill site onshore Zimbabwe, a development that could pave the way for the first gas production in the Southern African country. The Australian company said mud gas analysis had proved the presence of hydrocarbons in multiple pay zones, or reservoirs that can generate income. “Analysis shows the presence of light oil and rich na...
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