Abu Dhabi National Oil Co. (ADNOC) will purchase the stake in the Area 4 concession from Galp Energia SGPS SA, it said in a statement Wednesday. Galp will receive $650 million, and further contingent payments of as much as $500 million when two planned development phases go ahead, the Portugese company said in a separate...Continue Reading
Saipem has been awarded three new contracts by TotalEnergies EP Angola Block 20, a subsidiary of TotalEnergies, for the Kaminho deepwater project relating to the development of Cameia and Golfinho oil fields, approximately 100 km offshore Angola. SourceContinue Reading
The London-based major now aims to reduce its net carbon intensity by 15% to 20% by 2030, compared with a previous target of 20%. SourceContinue Reading
UEM is an innovative approach that, for the first time, simultaneously integrates static and dynamic data in real time to represent subsurface conditions across multiple scales. This method improves the accuracy of reservoir models by consistently incorporating geologic uncertainties, making UEM vital to optimize reservoir recovery under uncertainty. SourceContinue Reading
The first phase of decommissioning commenced in February, with Elemental Energies providing well management services from its Houston office for the plugging and abandonment of wells in the Matagorda Island area, offshore Texas. SourceContinue Reading
With U.S. energy costs up more than 20% and gasoline prices rising again to almost $4 a gallon, Chairman Christian urges President Biden to unleash domestic oil and natural gas production to lower prices for consumers. SourceContinue Reading
Neptune Energy and its partners announced an extension of higher gas production from the Duva field in Norway, supplying enough gas to heat a further 550,000 UK homes per day. SourceContinue Reading
The American Petroleum Institute (API) submitted comments urging the U.S. Department of the Interior (DOI) to open offshore acreage to safe and environmentally responsible American energy development. SourceContinue Reading
OPEC+’s decision to lower its oil-production cap may set the stage for higher prices that would enable U.S. explorers to expand drilling, according to shale entrepreneur Matt Gallagher. SourceContinue Reading
The National Ocean Industries Association has named Vallourec as the winner of the inaugural NOIA Environmental, Social, & Governance Excellence Award. SourceContinue Reading
