Production
News
May 14, 2024
From 2024 to 2028, Petrobras will start up 14 floating oil production platforms, which account for a third of the global FPSO orders in this period. There’s also a considerable demand for underwater systems to connect these units.
News
May 13, 2024
TechnipFMC will design, manufacture, and install the subsea production system, flexible pipe, and umbilicals for the Xena Infill well (XNA03) to support ongoing production from the Pluto LNG Project. The award follows an integrated front end engineering design (iFEED™) study.
News
May 09, 2024
The main production facilities at Bozhong 19-6 include a wellhead platform, with 10 development wells planned to be commissioned. The project is expected to achieve a peak production of approximately 5,800 boed in 2026.
News
May 09, 2024
The ExxonMobil-led Liza Unity FPSO project in the prolific Stabroek block offshore Guyana has reached peak production at 252,000 bpd. Exxon anticipates first oil production from their newest vessel, One Guyana, next year.
News
May 08, 2024
Located above the Arctic circle and about 240 km (150 miles) northwest of Europe’s biggest liquefied natural gas production facility at Hammerfest, the Johan Castberg field is estimated to hold between 450 - 650 MMbbl of oil.
News
May 07, 2024
bp is weighing a decision to proceed with its Tiber offshore oil project in the U.S. Gulf of Mexico by 2025, aiming to increase its production to 400,000 boed by 2030, up from 300,000 boed in 2023.
News
May 06, 2024
The Eldfisk North Project comprises three 6-well subsea templates approximately 7 km from the Eldfisk Complex. The total resource potential is in the range of 50-90 MMboe, while total capital expenditure is estimated at almost $1.24 billion.
News
May 06, 2024
Located offshore Brazil in the Santos basin, Tupi is the country’s largest producing field, with an average volume of 850,000 bopd, accounting for 20% of the total produced in Brazil, according to Petrobras.
News
May 03, 2024
The North Sea Transition Authority has announced the allocation of 31 new oil and gas licenses, marking a significant step towards reinforcing energy security in the UK, says Offshore Energies UK (OEUK).
News
April 30, 2024
Petrobras' average production of oil, NGL, and natural gas in Q1 2024 reached 2.8 MMboed, an increase of 3.7% compared to last year. The evolution of production (ramp-ups) of the FPSOs Almirante Barroso, P-71, Anna Nery, Anita Garibaldi, and Sepetiba are responsible for the increase, as well as beginning production from 19 new wells from complementary projects in the Campos and Santos basins offshore Brazil.
News
April 26, 2024
The new fields, Tomoporo and La Ceiba, contain more than 5 Bbbl of oil and are part of a venture in which Repsol holds a 40% stake and PDVSA holds the remainder.
News
April 25, 2024
Hess’ E&P net income was $997 million in Q1 2024, compared with $405 million in Q1 2023. Net production was 476,000 boed in Q1 2024, compared with 374,000 boed in the Q1 2023, primarily due to higher production in Guyana and the Bakken.
News
April 22, 2024
Projects include oil platforms, maritime support vessels, cabotage vessels, and the sustainable disposal of units. Petrobras expects to create up to 100,000 jobs with this demand within the estimated project timeframe.
News
April 22, 2024
Hanz was discovered in 1997. After the delivery of the Plan for Development and Operation (PDO) for the Ivar Aasen area, which included the Hanz development, the project matured an optimized development solution by re-using subsea production systems (SPS) from the Jette field. It is the first time that production equipment has been re-used in a new field development on the NCS.
News
April 18, 2024
The country’s economic growth is forecast to decline 5.5% this year, making it the world’s worst-performing economy, according to available IMF data. And after nearly three decades in Equatorial Guinea, Exxon Mobil Corp. is planning to pull out entirely, a decision the company says is part of a long-term strategy.
News
April 17, 2024
According to Petrobras, that number is likely to grow even more. With new production systems to be installed in the coming years, the field's capacity will be increased to around 2 MMbpd by 2030.
News
April 16, 2024
The ACE platform is the seventh oil-production platform installed on the giant ACG field in the Caspian Sea. ACG first began production in 1997 and has since produced over 4.3 Bbbl of oil. The bp-operated Shah Deniz gas field has two further platforms in the Caspian.
News
April 15, 2024
Seatrium and Shell have worked together on various projects over the years, including the recently announced Sparta floating production unit (FPU), which is conceived as a replicable project to leverage Seatrium’s topsides single lift integration methodology, following the fabrication of Vito and Whale FPU newbuilds in 2021 and 2023, respectively.
News
April 14, 2024
The Whiptail project will cost $12.7 billion and produce about 250,000 bpd as soon as the end of 2027, Exxon said in a statement Friday. Guyana’s overall daily crude capacity will climb to 1.3 MMbbl just eight years after the advent of the country’s oil production.
News
April 10, 2024
Occidental expects first-quarter production from the Gulf of Mexico to be 90,000 boed, about 20% below the mid-point of its guidance.
News
April 08, 2024
The field is expected to come on stream during the first half of 2027 and is anticipated to operate until 2031 with potential for extension. Plateau oil production is estimated at around 26,000 boed and is expected within the first year of production.
