oil and gas industry

ExxonMobil informs about 13th discovery off Guyana

ExxonMobil announced that it made a new oil discovery offshore Guyana at the Yellowtail-1 well, marking the 13th discovery on the Stabroek Block. The discovery complements the previously announced estimated recoverable resource of approximately 5.5 billion oil-equivalent barrels on the Stabroek Block. Yellowtail-1 is the fifth discovery in the Turbot area.

Potential for future growth in UK North Sea after Chrysaor-ConocoPhillips deal

Providing its comment after Chrysaor agreed to buy ConocoPhillips’ North Sea assets in a US$2.7 billion deal, Romana Adamcikova, Wood Mackenzie senior analyst, North Sea upstream, said that Chrysaor will now become the top producer in the UK in 2019 and will be among UK’s largest producers for the next few years.

Watch: Hull keel laying of Energy Power FPSO

The video, issued by oil and gas company Energean, depicts the hull keel laying of the FPSO ‘Energean Power’ that took place on 13 April at COSCO Zhoushan yard, China. This comes as the company announced this week a significant gas discovery at the Karish North exploration well.

Water the largest challenge to field development in Permian Basin

From sourcing to disposal, water is slowly becoming the largest challenge to field development in the Permian Basin, Wood Mackenzie says. In fact, failure to mitigate these issues could increase costs, with possible consequences as severe as well shut-ins. The number of completed Permian wells is rising, and water disposal volumes are expected to double by 2022.

Keppel receives approval to convert Gimi FLNG project

Keppel Offshore & Marine’s wholly-owned subsidiary, Keppel Shipyard Ltd, has received the Final Notice to Proceed from Gimi MS Corporation, a subsidiary of Golar LNG Limited, to begin full conversion works for the Gimi Floating Liquefaction Vessel project. The total contract is worth US$947million and builds on the issuance of the Limited Notice to Proceed on 17 December 2018.

US announces $39 million for oil and natural gas R&D Projects

The US Department of Energy announced up to $39 million in federal funding for cost-shared research and development projects in order to improve oil and natural gas technologies. Selected projects will fall under two DOE Office of Fossil Energy funding opportunity announcements. The National Energy Technology Laboratory will manage the projects under both FOAs. 

South Carolina takes action against offshore drilling

On Wednesday, South Carolina’s Senate advanced a measure that would require the state to block new infrastructure to transport or process offshore oil and gas. This comes as state lawmakers fear the Interior Department will open the Atlantic coast to offshore drilling.

Oil majors bid on Argentina offshore acreage

Argentina’s first national offshore licensing round took place on 16 April 2019, in Buenos Aires. Of the 38 blocks offered in an open bid round, 18 were licensed. The round attracted bids from 13 companies, with the winning bids reaching a total of US$718.28 million. All majors participated in the bidding, except from Chevron.

Abu Dhabi pension fund invests in ADNOC oil pipelines

 The Abu Dhabi National Oil Company (ADNOC) announced that it entered a follow-on pipeline infrastructure investment agreement with the Abu Dhabi Retirement Pensions and Benefits Fund (ADRPBF). ADRPBF will invest AED 1.1 billion (USD 300 million), following BlackRock and KKR who in February of this year signed the initial investment agreement to invest AED 14.7 billion (USD 4 billion) into the midstream pipeline assets. 

Exxon considers creation of floating LNG collaboration in Israel

ExxonMobil is discussing to create a platform that would enhance the export reach of Israel’s largest natural gas field. The oil major is negotiating with Israel’s Leviathan reservoir to establish a floating LNG vessel. This project would enable Leviathan to export to countries that cannot be reached with pipelines and avoid building expensive infrastructure to connect to LNG facilities in Egypt.

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