Drilling & production

Rudranil Roy Sharma, Director, Energy & Environment Practice, Frost & Sullivan writes an overview of the current Oil & Gas sector in the MENA Region.

The preferred share investment consists of an initial subscription of US$10 million, with up to a further US$15 million in future tranches of preferred shares subject to the continued growth and success of IWS.

TotalEnergies, and its co-venturers QatarEnergy and Petronas Petróleo Brasil have won the Agua Marinha block in the Open Acreage under Production Sharing Regime.

The move will improve communication and automation in workload distribution and increase the transparency of project-related risks and costs for the management team and wider stakeholders.

The partnership will provide training and competence management solutions for Mozambique’s domestic onshore and offshore developments.

Along with Aker BP, Equinor has made an investment decision and will submit a plan for development and operation for Krafla to the Minister of Petroleum and Energy.

According to the company, key themes to watch for include operators’ shifting capital allocation dynamics, growing momentum in decarbonisation and renewable energy and continued reconfiguring of oil and gas projects and portfolios.

The major oil plays within the L48 region include the Permian, Bakken, Eagle Ford and DJ basins. Together, they are expected to cumulatively produce around 7.5 million bpd of crude oil in 2022.

ExxonMobil’s stake in Chad and Cameroon, previously estimated at US$360 million, contains fields producing 33 700 bpd.

The UK government is potentially facing three separate legal challenges as Greenpeace, Friends of the Earth and Uplift seek to stop up to 130 new oil and gas licences from going ahead.

The call for tenders to secure the drilling rig has been launched and should lead to a selection of the rig in the first quarter of 2023.

The contract, which is worth US$250 000, is scheduled for the first quarter of 2023 and expected to take around a month to complete.

ChampionX is first company to receive new annual supplier recognition award based on performance, service quality, and responsiveness.

Cassia C is expected to produce, at peak, about 200 – 300 million standard cubic feet a day of gas.

The discoveries were proven in 2017 and 2020 respectively and contain a total of 36.3 million bbl of recoverable oil equivalent.