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CNOOC starts production at South China Sea project

China National Offshore Oil Corporation (CNOOC) Limited announced it has commenced production on its joint development projects in South China Sea, Huizhou 32-5 oilfield comprehensive adjustment/Huizhou 33-1 oilfield joint development project.

Equinor confirms gas discovery south of Kristin field

Four major oil and gas firms have proven gas and condensate in the Norwegian Sea Ragnfrid North (6406/2-9 S) exploration well. Norwegian oil major Equinor and compatriot Petoro, US-based giant ExxonMobil and French Total, estimate recoverable resources at 6-25 million barrels of oil equivalent.

Gullfaks partners invest more to improve oil recovery

The Gullfaks partners have decided to invest NOK 2.3 billion (USD 269.0747 million) to drill seven new wells and thereby improve oil recovery by 17 million barrels with good profitability. The main Gullfaks field lies in block 34/10 in the northern part of the Norwegian North Sea. 

Norway grants record number of 83 offshore licenses

Norway granted 83 blocks to explore for petroleum resources in the Norwegian continental shelf. The number of the blocks offered is a record, something that indicates a rising interest from oil companies in Norway’s oil sector. Equinor received the majority, with 13, while Aker BP and Lunding received 11 and 9 operatorships respectively.

Offshore wind market to reach $50 bln by 2023

The global offshore wind energy market is expected to develop over USD 49.74 billion by 2023 at an estimated CAGR of around 11.12% during the period 2017 to 2023. An important factor of the growth in this sector, is the high demand on clean and reliable energy, aiming to decrease carbon emissions and keep an environmentally-friendly balance.

WoodMac: Exciting offshore prospects expected in 2019

According to Wood Mackenzie’s research director Andrew Harwood, the need to fill new and old gas infrastructure will see the drilling of exciting offshore prospects across Australia, Brunei, Malaysia, Myanmar, Pakistan and Papua New Guinea.  As Mr. Harwood notes, several countries will launch new bid rounds in 2019.

Norway audits Maersk Drilling’s procedures

The Petroleum Safety Authority Norway and the Norwegian Labour Inspection Authority have audited Maersk Drilling’s routines for handling notifications of censurable conditions (whistleblowing) at work. The audit detected one non-conformity regarding deficient employee participation in the preparation of the routine. 

Norway awards Equinor exploitation permit for CO2-storage

Equinor has been awarded an exploitation permit for CO2-storage on the Norwegian Continental Shelf, according to Norway’s Ministry of Petroleum and Energy. The storage solution is part of the large-scale carbon capture and storage-project in Norway. If approved, the storage is set to begin operations in 2023 or 2024, Gassnova, a governmental agency in charge of developing the CCS project, reported.

Norway’s oil and gas production to increase until 2023

The Norwegian Petroleum Directorate’s expects that, after a minor reduction in 2019, oil and gas production will increase from 2020 and up to 2023. Overall production will then reach the record year of 2004. Exploration activity was higher last year, with the number of exploration wells increasing dramatically.

Democrats introduce bills to block offshore drilling in the US

A group of House Democrats introduced a suite of eight bills, on December 8, aimed at blocking President Trump’s proposal to expand offshore oil and natural gas drilling around the country. The bills occurred as Trump administration is to release the Bureau of Ocean Energy Management’s (BOEM) Proposed Outer Continental Shelf Oil and Gas Leasing Program, that will define the administration’s vision of drilling procedures.

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