National Ocean Industries Association (NOIA) President Erik Milito released a statement in response to President Joe Biden’s announcement that he will not seek reelection and will instead endorse Vice President Kamala Harris. SourceContinue Reading
Major oil field service companies are pivoting to more work in international and offshore fields amid a slowdown in U.S. shale activity brought on by industry consolidation, low natural gas prices and pressure to keep spending muted and return profits to shareholders. SourceContinue Reading
Colombian driller EcoPetrol could end up acquiring an even larger stake, up to 49%, in the assets Occidental agreed to buy from CrownRock LP for $12 billion in late 2023. This option expires in August, according to a filing. SourceContinue Reading
The upstream assets consist of a portfolio of production and exploration licenses in the DNS comprising 2,415 km2 (approximately 600,000 net acres). The licenses are in shallow water at an average water depth of 34 m, approximately 60 km offshore. SourceContinue Reading
The partnership will allow for centralized fleet monitoring with real-time vessel tracking and streamlined reporting. The data will then be integrated into Opsealog’s Marinsights platform to deliver insights that will help BOURBON optimize vessels’ operational profiles to reduce fuel consumption and associated GHG emissions, while also helping reduce operating costs. SourceContinue Reading
The group led by Saudi Arabia and Russia agreed last month to begin gradually restoring roughly 2.2 MMbpd of halted crude oil production from October. When prices immediately slumped, officials stressed that a committee due to gather on Aug. 1 could postpone the hike if necessary. SourceContinue Reading
The subsea infrastructure will tie back to the Energean Power floating production, storage, and offloading vessel (FPSO), which currently serves the Karish and Karish North developments. TechnipFMC also delivered fully integrated subsea solutions utilizing our iEPCI™ execution model for both of these developments. SourceContinue Reading
About 500,000 bpd of marketable oil sands production could be within 10 km (6.2 miles) of an out-of-control blaze, Rystad Energy said in a report Thursday. That’s equal to roughly 10% of the total oil production in the province. As much as 1.2 MMbpd could be within 20 km. SourceContinue Reading
Block 5 is located offshore Suriname in shallow water depths of about 30-45 m. The license is currently proceeding to its second exploration phase with a commitment to drill an exploration well. SourceContinue Reading
It’s still early days for Namibia, and none of the discoveries in its waters have yet been declared commercially viable. But TotalEnergies aims to approve its first development at the Venus field later this year, and Chief Executive Officer Patrick Pouyanne has said the African country could one day enjoy a boom like that underway...Continue Reading
