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World Oil News
bp has received final government ratification for its contract to invest in the redevelopment of several giant oil fields in Kirkuk, in the north of Iraq. The contract between North Oil Company (NOC), North Gas Company (NGC) and bp includes the rehabilitation and redevelopment of the fields, spanning oil, gas, power and water with potential...
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Société Nationale des Pétroles du Congo (SNPC) has outlined its forthcoming Gas Master Plan (GMP) designed to promote gas utilization and attract foreign investment while reducing dependency on oil revenues and expanding the country’s power grid. Source
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India’s largest explorer Oil and Natural Gas Corp. is seeking to diversify its portfolio to shield its core business from volatile oil prices, said Arunangshu Sarkar, director for strategy at the state-run giant. Source
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The North Sea Transition Authority raised its forecasts for investment and production in the coming years after 2024 figures were higher than expected. The NSTA said capex totaled £5.95 billion ($7.7 billion) last year, more than 50% above an October projection. Source
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Kent will provide strategic advisory and engineering services for the UK government’s Department for Energy Security & Net Zero (DESNZ) ENZPS Framework, as part of a framework agreement valued at up to £250 million (approx. $324 million USD). Source
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Tullow Oil will pump as much as it can from mature assets in West Africa this year as part of plans to bring debt below $1 billion. “In the year ahead, our priorities are to progress our refinancing plan and optimize our production activities,” Tullow said in a statement. Source
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Enteq Technologies has successfully completed its latest round of trials for The SABER Tool, its next-generation Rotary Steerable System (RSS) technology, at the Catoosa Test Facility. The testing phase reinforces the tool’s potential as a more reliable, lower-cost RSS for downhole environments. Source
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TechnipFMC has been awarded a large integrated Engineering, Procurement, Construction, and Installation (iEPCI™) contract by Equinor for the Johan Sverdrup Phase 3 development in the Norwegian North Sea. This latest phase will increase production by tying in additional wells to the current infrastructure, which is powered by low-emission resources onshore. Source
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Veolia Water Technologies today announced the launch of ToroJet™, a robust nutshell filtration system designed to meet the toughest produced water polishing needs in the oil and gas industry. Source
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