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Rystad: World’s recoverable oil down 9%

Rystad: World’s recoverable oil down 9%   The amount of remaining recoverable oil resources in the world is 9% lower than last year, according to a new Rystad Energy assessment, which also showed that oil production and consumption can align with future climate goals. The amount of remaining recoverable oil resources in the world is 9% lower than last year, according to a new R...

Shell confirms another oil spillage at an oil field in Bayelsa State

Shell confirms another oil spillage at an oil field in Bayelsa State   Shell Petroleum Development Company of Nigeria (SPDC) has said that there was an oil spillage at its facility in Ekeremor Local Government Area of Bayelsa State. This is as the Nigerian subsidiary of the Anglo-Dutch oil and gas giant noted that the spill clean-up is progressing while the Joint Investigation report is at the conclusion stage. This disclosure is contained in a statement issued by the Media Rela...

Renewables jobs 'to grow fivefold globally by 2050' as fossil-fuel industry shrinks: study

Renewables jobs 'to grow fivefold globally by 2050' as fossil-fuel industry shrinks: study   Global renewable energy jobs will grow fivefold from 4.4 million today to 22 million by 2050, with more than 85% of those gains in the wind and solar sectors, according to an international team of academics. Jobs in the fossil-fuel sector will, at the same time, fall from 12.6 million to 3.1 million, with about 80% of the job losses related to oil, gas and coal extraction, the rese...

Sasol launch five day covid-19 vaccine drive

Sasol launch five day covid-19 vaccine drive   Energy and chemicals company Sasol's Secunda operation has, in partnership with the Mpumalanga government, launched a five-day Covid-19 vaccination drive, starting on July 26. This forms part of the preparation for the operations' upcoming annual maintenance shutdown taking place from August 30 to September 24. Through this partnership, the provincial government has made available important resources, such as trained personn...

United Oil & Gas highlights 'exceptional' first-half success

United Oil & Gas highlights 'exceptional' first-half success   United Oil & Gas PLC chief executive Brian Larkin highlighted exceptional operational and financial success in the first half of 2021. In a trading update, ahead of results due in September, the company said that production averaged 2,937 barrels oil equivalent per day (boepd), beating guidance for 2,300 to 2,700 boepd, and marking a 17% improvement against the preceding half-year period. Revenue for...

Nord Stream pipeline resumes gas transmission after completion of maintenance works

Nord Stream pipeline resumes gas transmission after completion of maintenance works   Nord Stream AG has successfully completed all planned maintenance works on its twin gas pipelines within the scheduled period. After the temporary shutdown of the pipeline system, gas transmission resumed on 23 July 2021. Nord Stream’s Operations and Maintenance teams as well as external contractors carried out the inspection and maintenance safely and with all necessary protection measures...

OGA fines bp £50,000 for licence breach

OGA fines bp £50,000 for licence breach   The Oil and Gas Authority (OGA) has today fined bp £50,000 and served it with a Sanction Notice for breaching a licence condition by failing to report the progress and results of two extended well tests. Having previously consented to the drilling of two development wells, the OGA granted further consent to conduct extended well tests (EWT) on two wells in August 2019. Those consents included the need for the licensee to provide...

Wellesley Petroleum and Equinor agree asset swap on the Norwegian Continental Shelf

Wellesley Petroleum and Equinor agree asset swap on the Norwegian Continental Shelf   Wellesley Petroleum and Equinor have signed a Sale and Purchase Agreement covering several development assets on the Norwegian Continental Shelf. Equinor will acquire a 40% participating interest in licences PL090 JS, PL248 I and PL925, containing the Grosbeak and Kallåsen discoveries. Additionally, Equinor will assume operatorship of all three licences. Wellesley will acquire a 10% parti...

Seadrill secure agreement to exit Chapter 11

Seadrill secure agreement to exit Chapter 11   Seadrill Limited ("Seadrill" or the "Company") is pleased to announce that today the Company has entered into a plan support agreement (the "PSA") with certain of the Company's senior secured lenders holding approximately 57.8% of the Company's senior secured loans (the "Consenting Lenders") as well as a backstop commitment letter entered into with certain of the Consenting Lenders.  Th...

Steve Myers to oversee North Star Renewables offshore wind vessel fleet

Steve Myers to oversee North Star Renewables offshore wind vessel fleet   North Star Renewables has created a new senior leadership role to oversee the company’s service offshore vessel (SOV) fleet, specifically designed to support the growing requirement for these specialist vessels within the offshore wind industry. The sector is set to boom over the next five years and attract more than £60 billion in investment1. Steve Myers has been appointed as SOV operations dir...

OMV discovers oil near Oselvar field in Norwegian North Sea

OMV discovers oil near Oselvar field in Norwegian North Sea   OMV (Norge), the Norwegian arm of Austrian company OMV, and its partners have made oil discovery about 6km south of the Oselvar field in the southern North Sea. The Norwegian Petroleum Directorate (NPD) said the discovery has been made in the wildcat well 1/3-13, which is located in production licence 970. Located near the Ipswich oil discovery and 300km south-west of Stavanger, well 1/3-13 was drilled using the Maers...

North Sea oil firm wins London investor backing for bumper deal

North Sea oil firm wins London investor backing for bumper deal   North Sea-focused EnQuest has received resounding support for a bumper acquisition in a success that suggests City investors still see potential in the oil and gas business in the area. EnQuest said it had won the support of 99.997 per cent of votes cast by shareholders for the proposed acquisition of a stake in the Golden Eagle development for up to $375 million from Canada’s Suncor. The deal, which was ann...

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 nearly half the additions, leapfrogging 11 week on week to 259 rigs. The West Texas/Southeast New Mexico...

Greenpeace Rainbow Warrior III ship to arrive in Sunderland as part of campaign for renewable energy

Greenpeace Rainbow Warrior III ship to arrive in Sunderland as part of campaign for renewable energy   A Greenpeace vessel is set to arrive in Sunderland next week as campaigners call on the UK government to deliver a transition to renewable energy without ‘leaving communities behind’. The 190ft-long, Rainbow Warrior III vessel will arrive for the first time in Sunderland dock on Tuesday (July 27) morning as part of its Just Transition Tour. On Tuesday campaigners wi...

AquaSector: Study investigates potential for first large-scale offshore hydrogen park in the German North Sea

AquaSector: Study investigates potential for first large-scale offshore hydrogen park in the German North Sea   Project partners RWE, Shell, Gasunie and Equinor signed a declaration of intent to further intensify their collaboration on the AquaSector project - the vision of the first large-scale German offshore hydrogen park. The project aims to demonstrate that in Germany offshore based hydrogen production enables an efficient, cost-effective and sustainable way to produce green hydr...

New green partnership boosts heat recovery from geothermal wells

New green partnership boosts heat recovery from geothermal wells   A leading international energy consultancy, service and software provider has launched a new division which applies knowledge from the oil and gas sector to carbon reduction initiatives. Add Energy is channelling decades of technology, expertise and learning gained from delivering specialist safety and integrity management, drilling and well engineering and asset management solutions into advising and supporting com...

Dutch green hydrogen pilot secures government backing

Dutch green hydrogen pilot secures government backing   A consortium, including DEME Offshore and Eneco, will develop the world’s first offshore green hydrogen pilot having secured a grant from the Dutch government. The Netherlands Enterprise Agency (RVO) has awarded a subsidy of €3.6m to the PosHYdon project enabling the consortium to start up all activities for the pilot, which will be installed on a working offshore oil and gas platform. The remaining budget will b...

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...

Borr Drilling rig contracted for work in Mexico

Borr Drilling rig contracted for work in Mexico   Borr Drilling has received a Letter of Award from an unnamed international oil company for additional work in Mexico for one of its jack-up drilling rigs. The programme is expected to commence in 2Q22 for a duration of approximately 150 days, adding revenues of US$15.7 million. Read the latest issue of the OGV Energy magazine HERE. 

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...
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