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The Philippines has removed a major hurdle in advancing oil exploration with Beijing in the South China Sea, its top diplomat said, but the two nations will have to navigate their overlapping claims in the area to reach a deal.
“The announcement by Equinor and partner BP Canada that oil has been in the Flemish Pass Basin is encouraging, at a time when encouraging news is needed for the Newfoundland and Labrador offshore oil and gas industry," said Charlene Johnson, CEO of the Newfoundland and Labrador Oil and Gas Industries Association.
The Luiperd-1X well on Block 11B/12B was drilled to a total depth of about 3,400 meters and encountered 73 meters of gas condensate. Total will now conduct a detailed assessment of the reservoir in conjunction with Qatar Petroleum and its other partners.
While it’s true the energy ecosystem is in transition, former Vice President Biden is incorrect that it means replacing one form of energy with another or phasing out oil and gas.
BP is weighing a sale of its majority stake in the Constellation oilfield in the Gulf of Mexico, according to people familiar with the matter, as it pushes ahead with a divestment program.
The solution, part of Siemens Energy’s Omnivise digital solutions portfolio, supports maintenance activities across several assets, including onshore compressor stations and gas processing plants, as well as offshore production platforms and FPSO vessels.
Richard Beesley, Trelleborg Offshore
It has become essential to extend the service life of subsea pipelines and cables. New digital monitoring technologies are capturing data on motion and bending strain to mitigate damage to subsea infrastructure, to maximize asset life and ROI.
The Philippines lifted its moratorium on oil and gas exploration in disputed areas of the South China Sea, a move that was welcomed by China and boosted the shares of the Southeast Asian nation’s energy producers.
The Walker Ridge program covers approximately 300 OCS blocks including two priority areas of significant industry interest. Advanced proprietary imaging technologies will be applied to this program to unlock the full potential of existing seismic data and provide significant uplift in subsurface imaging.
Weatherford International’s Shallow Angle QuickCut System successfully achieved the industry's first 12 ¼-in. casing sidetrack, delivering a 22-ft. window in a single trip for an ultra-deepwater well in the Gulf of Mexico.
The specialist manufacturer and supplier of valves for the global energy industry has been awarded two significant FPSO valve contracts for projects in Brazil. The company will manufacture and supply valves packages to both projects in the Santos and Campos basins.
Oceaneering International has been awarded a BOP tethering services contract offshore Brazil from Petrobras. The contract duration is one-year with the option to extend for an additional year.
The energy discovery in the Black Sea is critical for Turkey’s current-account balance which is dragged down by the need to import nearly all of the 50 billion cubic meters of gas the country consumes annually.
The ReLineWL straddle is a one-trip, rigless system developed to address common well integrity issues and has enabled a Gulf of Mexico operator to troubleshoot an inoperable safety valve, passing through a restriction that conventional straddles could not pass through.
The world’s largest owner of deep-water oil rigs recently engineered a bond swap to trim some of its $9 billion debt load and ease the crunch caused by slumping energy prices. But other creditors say the transaction amounts to a default because it pledges assets that Transocean already promised to them.
The deal marks the end of the road for one of the oldest independent oil explorers. After years laboring under a mountain of debt Premier has bowed to pressure from creditors, with CEO Tony Durrant abandoning his plan to acquire some of BP’s North Sea assets and agreeing to step down.
“Proceeds will be used to fund our world class investment opportunity in Guyana,” CEO John Hess said. “This sale is aligned with our strategy to preserve cash and preserve the long term value of our assets in the current low oil price environment.”
Turkey plans to deploy a second drilling ship in the Black Sea early next year following the biggest-ever natural-gas discovery there.
"Hywind Tampen is a new chapter in Norway’s narrative as an energy nation. With support from the Norwegian authorities, we're not only building Norway’s first offshore wind project; we're refining floating offshore wind technology along with the Norwegian supplier industry," says Equinor president and CEO Eldar Sætre.
Baker Hughes worked with Wintershall DEA to cut the subsea wellhead from an abandoned exploration well in 360-metre water depth in only 35 minutes. By comparison, alternative abrasive cutting methods could take as long as five or six hours for the cut alone.