News

  • Operators Will Keep Pushing for Faster Returns

    Oil and gas operators globally will continue to push for faster returns with shorter cycle investments as the industry moves away from giant developments, according to GlobalData.   “Projects now go from final investment decision (FID) to first oil/gas in under three to four years,…

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  • MODEC to supply ‘largest FPSO ever delivered to Brazil’

    Japan’s MODEC has signed a sales and purchase agreement (SPA) with Equinor to supply a floating production storage and offloading (FPSO) vessel for the Bacalhau (formerly Carcará) field offshore Brazil.   MODEC was awarded a Pre-Front End Engineering Design (Pre-FEED) contract for the FPSO in…

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  • EMEP formed to pursue Williston, Rockies developments

    Affiliates of NGP and Pearl Energy Investments have partnered with Eagle Mountain Energy Partners LLC (EMEP), Houston, a company newly formed to acquire and develop oil and gas assets in the Williston Basin and other Rockies basins.   EMEP was founded by Eric Pregler, chief…

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  • Adnoc’s US$15 Billion Gas Pipeline Lures BlackRock, GIP Interest

    BlackRock Inc, Global Infrastructure Partners and KKR & Company are among suitors considering bidding for a stake in natural gas pipelines being sold by Abu Dhabi’s state-owned energy giant, people familiar with the matter said.   Australia’s IFM Investors Pty and Ontario Teachers’ Pension Plan…

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  • OMV hires Solstad PSV for operations offshore New Zealand

    Norwegian vessel supplier Solstad Offshore has entered into a contract with OMV Taranaki for the provision of a platform supply vessel (PSV) for operations offshore New Zealand.   Solstad said on the 28th January that the PSV Normand Tortuga would support OMV’s upcoming Crestal infield…

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  • Karoon spuds Marina-1 offshore Peru

    Karoon Energy Ltd, Melbourne, has spudded its Marina-1 wildcat in Block Z-38 in the Tumbes sub-basin offshore Peru.   The Stena Forth drillship is estimated to take about a month for the programme, drilling to a total depth of 3,000 metres subsea.   Karoon said…

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  • ExxonMobil makes another deep-water oil discovery off Guyana

    ExxonMobil has increased its estimated recoverable resource base in Guyana to more than 8 Bboe and made its 16th discovery on the Stabroek block.   The new recoverable resource estimate includes 15 discoveries offshore Guyana through year-end 2019. The Uaru discovery is the first of…

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