Such is the extent of the shakeout in the US shale industry that Permian Basin oil production is closer to peaking than many forecasts suggest, according to one energy investor. Adam Waterous, who runs Waterous Energy Fund, regards the sector’s financial position as unsustainable…
Independent seismic data acquisition company Searcher Seismic has expanded its offshore data library with the completion of the Gulf of Papua prospectivity study in Papua New Guinea. The Gulf of Papua is a vast area comprising over 187,000 km2. With only 27 wildcat exploration…
The first exploration well was spudded on the Shafag-Asiman offshore block in the Azerbaijan sector of the Caspian Sea on the 13th January, BP said. BP is operator with 50% interest. SOCAR holds the other 50%. SAX01 is the first well to be…
NEC Energy Solutions, Inc has announced today it will provide 100MW of energy storage in Northern Ireland for the Gore Street Energy Storage Fund (GSF) and project developer Low Carbon. The 100MW of energy storage will comprise two 50MW projects located in Drumkee, County…
Lekoil’s advisers were approached by representatives of the Qatari Investment Authority (the ‘QIA’) questioning the validity of the loan agreement announced on the 2nd January 2020 (the ‘Facility Agreement’). Lekoil is urgently seeking to establish, alongside its legal counsel and Nominated Adviser, the full facts of…
Evaporation ponds, which are commonly used in many industries to manage wastewater, can span acres, occupying a large footprint and often posing risks to birds and other wildlife. Yet they are an economical way to deal with contaminated water because they take advantage of…
Saudi Arabia-based Industrialisation and Energy Services Company (TAQA) and UAE-based AlMansoori Petroleum Services (AMPS) have formed an alliance to provide high-end, fully integrated fracturing and stimulation offerings, TAQA reported on the 14th January. The oilfield services (OFS) firms announced the deal at the 2020…
French oil major Total has selected a Maersk Drilling-owned drillship to drill at what the rig owner says will be a world record water depth in Angola-Namibia campaign. Maersk Drilling said on the 14th January that it had been awarded contracts for a three-well…
SBM Offshore’s first completed Fast4Ward hull has arrived at the Keppel yard in Singapore after a 2,300-nautical mile (4,260-km) journey from the Shanghai Waigaoqiao Shipbuilding and Offshore Company (SWS) yard in China. The hull’s arrival represents a milestone on the path to delivering SBM’s…
The Abu Dhabi National Oil Company (ADNOC) has announced a set of comprehensive sustainability goals, extending its legacy of responsible oil and gas production and reinforcing its longstanding commitment to environmental stewardship. The announcement was made by His Excellency Dr Sultan Ahmed Al Jaber,…
