Offshore

NOV Innovating, Expanding Digital Offerings to Meet ‘Evolving Needs’ of E&P Customers

NOV Innovating, Expanding Digital Offerings to Meet ‘Evolving Needs’ of E&P Customers

International land and offshore markets are driving near-term demand for NOV Inc.’s oilfield equipment, but digital and performance technologies are also in the pipeline, as exploration customers look for improved efficiencies, according to CEO Clay Williams. During the recent first quarter conference call, Williams laid out expectations for the near term. North American activity isn’t…

May 3, 2024
Lower 48 E&P Activity Waning but Renewed Opportunities Seen in Deepwater GOM

Lower 48 E&P Activity Waning but Renewed Opportunities Seen in Deepwater GOM

The Gulf of Mexico (GOM) for decades was the breadbasket for U.S. natural gas and oil production, but the Lower 48 took over as unconventional drilling uncorked massive reserves. As onshore activity has waned, however, the deepwater is once again beckoning. Enverus Intelligence Research (EIR) director Andy McConn recently shared the firm’s outlook about the…

April 29, 2024
ExxonMobil Greenlights Another Stabroek Project Offshore Guyana

ExxonMobil Greenlights Another Stabroek Project Offshore Guyana

ExxonMobil keeps powering ahead in its offshore Guyana program even as a contract dispute and geopolitical tensions cast a shadow over the oil-rich project. The company made a final investment decision for the Whiptail development, its sixth project on the offshore Stabroek block. It has the necessary approvals in place and the offshore platform is…

April 18, 2024
Trinidad Says European Buyers Giving ‘Serious Interest’ to Venezuelan Natural Gas Project

Trinidad Says European Buyers Giving ‘Serious Interest’ to Venezuelan Natural Gas Project

Trinidad and Tobago (T&T) and its partners have started commercial talks with European buyers to supply natural gas from Venezuela’s Dragon field, according to Prime Minister Keith Rowley. Roughly a month after Shell plc and Trinidad’s National Gas Co. (NGC) formalized a 30-year license agreement with Venezuela’s government, Rowley said T&T has seen “serious European…

January 25, 2024
SLB Forecasting ‘Durable’ Natural Gas, Oil Activity, with Growth Offshore, Overseas

SLB Forecasting ‘Durable’ Natural Gas, Oil Activity, with Growth Offshore, Overseas

Exploration and production companies are investing billions to expand their natural gas and oil development in the global offshore, including the U.S. Gulf of Mexico, as Lower 48 activity flattens, SLB Ltd. CEO Olivier Le Peuch said Friday. During the fourth quarter conference call with analysts, Le Peuch said, “the characteristics of breadth, resilience and…

January 19, 2024
UK’s Harbour Buoying Up Global Natural Gas and Mexico Portfolio with Wintershall Upstream Takeover

UK’s Harbour Buoying Up Global Natural Gas and Mexico Portfolio with Wintershall Upstream Takeover

Harbour Energy plc joined the dealmaking parade on Thursday, announcing a $11.2 billion “transformational acquisition” of the upstream assets of Germany’s largest natural gas and oil producer, Wintershall Dea AG. Wintershall has gas and oil prospects in Algeria, Argentina, Denmark, Egypt, Germany, Libya, Mexico’s onshore and offshore, and in Norway. Also included in the deal…

December 21, 2023
Equinor’s Brazilian Natural Gas Development Could Supply 15% of Country’s Demand

Equinor’s Brazilian Natural Gas Development Could Supply 15% of Country’s Demand

Norway’s Equinor ASA is set to develop a massive natural gas project offshore Brazil. The company submitted a declaration of commerciality for the BM-C-33 concession in Brazil’s Campos Basin to oil and gas regulator Agência Nacional de Petróleo, Gás Natural e Biocombustíveis (ANP). The $9 billion Raia Manta and Raia Pintada projects on the deepwater…

September 26, 2023
Early Start-Up of Woodside’s Shenzi North Bringing More GOM Natural Gas and Oil Ashore

Early Start-Up of Woodside’s Shenzi North Bringing More GOM Natural Gas and Oil Ashore

More natural gas and oil output is coming ashore from the deepwater Gulf of Mexico (GOM) as Woodside Energy Group Ltd.’s Shenzi North project ramps up in Green Canyon ahead of schedule.  A final investment decision (FID) for Shenzi North, an extension of the Shenzi field, was taken in July 2021, and first output initially…

September 18, 2023
Israel Agrees to Export More Natural Gas to Egypt, Lifting Potential LNG Supply for Europe

Israel Agrees to Export More Natural Gas to Egypt, Lifting Potential LNG Supply for Europe

Israel has agreed to send more natural gas to Egypt, potentially stabilizing future LNG exports to Europe as Egypt balances calls for more supply and domestic demand. Israeli Energy Minister Israel Katz said in a post on X, formerly Twitter, that he had signed an agreement with Egypt to allow for additional gas resources from…

August 24, 2023
Biden Administration Reinstates Macondo Well Blowout Rules, Calls for Protecting Endangered Whales

Biden Administration Reinstates Macondo Well Blowout Rules, Calls for Protecting Endangered Whales

The Biden administration is taking heat from the energy industry after issuing voluntary recommendations for Gulf of Mexico (GOM) oil and natural gas operators designed to protect an endangered whale species, and for reinstating safety rules enacted following the 2010 Macondo well blowout that killed 11 men. The U.S. Department of Interior on Tuesday revived…

August 24, 2023
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