Drilling & production

The partners have decided to postpone the investment decision scheduled for December 2022. The maturation of the project continues, aiming for an investment decision by end of 2026.

The new leases are strategically positioned in two areas contiguous or adjacent to the company’s current acreage on its north western boundary, covering the extension of the Theta West project, and east.

The company is investing over US$2 million in a new engineering workshop in Abu Dhabi – a move which will enable EthosEnergy to better respond to the fast-growing rotating and oil and gas equipment market.

The reservoir target is the middle and lower Jurassic formations and is expected to be reached at a depth of approximately 2960 m.

The company has secured a contract to deliver its ProfilerTM technology to the Woodside Energy-owned Scarborough Gas Field located in the Indian Ocean, on the West Coast of Australia.

Following consent from the joint venture partners and regulatory approval, Shell Petroleum N.V. has completed the sale of its 100% shareholding in Shell Philippines Exploration B.V to Malampaya Energy XP Pte Ltd.

Carbon capture and storage projects are designed to reinject the CO2 produced from oil and gas operations, or other industries, back into underground reservoir formations, where it remains permanently trapped.

The company has launched a new application at ADIPEC, which will enable operators in the energy sector to follow their key performance indicator (KPI) progress on drilling and well operations in real time.

Abu Dhabi National Oil Company has announced that it has set a new Upstream Methane Intensity target of 0.15% by 2025.

Validere will validate and organise operational and emissions data into a consolidated platform that PureWest can utilise across multiple emission reduction initiatives.

The company has announced an oil discovery by the Pedunculo well, located in the north-west of the Sépia oil field, approximately 250 km off the coast of Rio de Janeiro, Brazil.

The company has reported third quarter 2022 revenues of US$1.89 billion, an increase of 9% compared to the second quarter of 2022 and an increase of 41% compared to the third quarter of 2021.

Eni has been working with the ‘Ionic Liquids Group’ at the University of Pisa for several years to develop innovative solutions in areas including the extraction of bio-oil from algal mass, the treatment of sulphur, and advanced algorithms for subsurface analysis.

Third quarter production grew to approximately 360 000 bpd with 1 million bpd targeted by 2030.

The company has reported robust performance in a turbulent economic environment with lower crude prices and higher gas prices compared with Q2 2022.