A federal offshore oil and gas lease set for August has been delayed for three months to assess the impact of Covid-19 on U.S. oil and gas markets. The Department of Interior’s Bureau of Ocean Energy Management (BOEM), which oversees the offshore auctions, rescheduled the Gulf of Mexico (GOM) Lease Sale 256 to November. The…
Articles from Offshore
FPSO Awards Seen Rebounding Sharply in 2021 as Offshore Oil, Natural Gas Project Sanctioning Resumes
Oil and gas companies are expected to award seven floating production, storage and offloading (FPSO) vessels in 2021, versus a likely total of one this year, as offshore project sanctioning recovers from the current downturn, according to Rystad Energy. Tokyo-based Modec Inc. won the only FPSO contract awarded so far this year, to supply a…
Both revenue sharing and energy production should be increased on the Outer Continental Shelf (OCS), according to a group of governors representing Alabama, Alaska, Louisiana, Mississippi and Texas. “As our states recover from both Covid-19 and the economic downturn, we need to build a path to recovery by looking for ways to stimulate our respective…
After a decade of divided authority blamed for approval delays, Canada’s offshore oil and gas watchdog agency has regained full power over sea-floor exploration on the resource-rich Grand Banks of Newfoundland.
State-owned Qatar Petroleum said Wednesday that it has spud the first of 80 wells as part of its ambitious North Field East (NFE) Project aimed at significantly expanding its liquefied natural gas (LNG) output in the coming years.
High risk of Covid-19 infection in crowded places has led Husky Energy to suspend construction of a C$2.2 billion ($1.6 billion) expansion at its White Rose ocean oil production site, 350 kilometers offshore of Newfoundland.
Natural gas sales from the mammoth Leviathan field offshore Israel as of Wednesday were underway to Egypt, Israel and Jordan, Houston-based Noble Energy Inc. said.
ExxonMobil Corp. has secured more than 1.7 million acres to explore offshore Egypt, helping to build its natural gas and oil portfolio in the Eastern Mediterranean.
The oilfield services sector may see a slew of global oil and natural gas projects reach sanctioning heading into 2020, with high demand foreshadowing a shortage of qualified contractors and manpower.
Chevron Corp. on Thursday sanctioned the massive Anchor oil and natural gas project in the U.S. Gulf of Mexico (GOM), the first greenfield launch in nine years and the first high-pressure project for the domestic offshore.