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,…
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…
Serica Energy has provided an update on Bruce platform operations. During a Bruce platform inspection, the condition of an unused seawater return caisson on the platform was observed to have deteriorated. This caisson had been taken out of service in 2009. Production through the…
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…
Equatorial Guinea’s Ministry of Mines and Hydrocarbons (MMH) has officially launched its Year of Investment campaign, with a series of foreign investors already making their commitment to increasing planned investment in the country in 2020. In a bid to position Equatorial Guinea as a…
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…
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…
Rolls-Royce is planning to install and operate its small modular reactor (SMR) programme in the UK by 2029. The manufacturer told the BBC that its plan is to build between 10-15 SMRs on former nuclear sites in Cumbria and Wales by the end of the…
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…
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…
