Drilling & production

This move is in response to President Xi Jinping's directive to bolster the country's energy security by developing ‘new productive forces’.

The company has announced the final stage of the Saipem Onshore Drilling acquisition completed at the end of June following the transfer of the six remaining rigs in Argentina, Kazakhstan and Romania.

The agreement adds to the recently announced gas sales contract with VNG.

The company has awarded contracts worth more than US$25 billion to progress its strategic gas expansion, which targets sales gas production growth of more than 60% by 2030, compared to 2021 levels.

The company has provided an update on operations and commercial developments from its eight concessions (six operated) in the western desert oil producing region of Egypt for the first half of 2024.

This is the second well to be drilled in production licence 1170, which was awarded in APA 2021.

Pytheas Energy has announced the addition of three producing oil and gas properties to its growing portfolio, the Andrews Crane Asset, the Bakken Asset, and the Minerva-Rockdale Asset.

The agreement will support Odfjell Technology’s long-term growth plans to expand its well services operations across continental Europe.

The company has issued an oil macro market update, encompassing factors and influences that affect oil price movements driven by fundamentals and non-fundamentals factors.

ORLEN Group will become a license partner in one of the five largest discoveries made on the Norwegian Continental Shelf in the last 10 years.

Masirah Oil Ltd has announced that its multi-well programme in the offshore Yumna Field in Block 50 Oman, had been completed ahead of the 90-day schedule and below budget.

This is the first well in production licence 1170, which was awarded in 2022 (APA 2021). The well was drilled by the Scarabeo 8 rig.

Following the transaction, Eni's holding in Saipem has been reduced to approximately 21.19%.

PETRONAS, through Malaysia Petroleum Management (MPM) has awarded a late life asset production sharing contract (LLA PSC) for Banang field, located offshore Peninsular Malaysia to Petra Energy Development Sdn. Bhd. (PEDSB), a wholly owned subsidiary of Petra Energy Berhad.

Triangle Energy Global has advised that preparatory works by the L7 Joint Venture with Strike Energy and New Zealand Oil and Gas to drill the Booth-1 well in the North Perth Basin are nearing completion and all regulatory approvals have been received.