The Theta West #1 well on Alaska's North Slope is targeting two primary targets which combined are estimated by the company to contain 12.1 billion barrels of oil in place with an estimated 1.4 billion barrels of recoverable resource.
The contract, which is worth US$$300 000 (£225 000), is expected to take between four and six months and is scheduled to be completed in 1Q22.
The JV will see the creation of an OCTG 130 000 ft2 threading plant in Nashik, India, targeted to be operational by the end of 2022.
Will Scargill, Managing Energy Analyst at GlobalData, estimates that ExxonMobil's scope 3 emissions will increase by around 15% over the next five years.
Drilling operations have been completed on the Anchois gas project within the Lixus licence, offshore Morocco.
Valaris has been awarded two one-well contracts by Murphy Oil Corp. for semisubmersible VALARIS DPS-5.
The net zero aspiration applies to Scope 1 and Scope 2 greenhouse gas emissions.
Wintershall Dea holds participating interests in a total of nine exploration licences in Brazil, spread over the Potiguar, Ceará, Campos and Santos basins.
The jack-up rig Maersk Reacher is to be replaced by the low-emission jack-up rig Maersk Integrator offshore Norway end-February/early March 2022.
Demand for shuttle tankers in countries with robust offshore oil production and limited pipeline infrastructure is set to grow continuously in the coming years, a Rystad Energy report shows.
The Adorf Z16 well is expected to increase Neptune’s production from the licence to around 4000 boe/d.
The first two wells of Beach Energy's offshore Otway Basin campaign have been connected to the Otway Gas Plant and are now delivering gas into Australia's East Coast market.
As a result of Wood’s success in the region during 2021, and to support further growth, the company recently completed the mobilisation of over 600 new employees, with recruitment underway for an additional 200 roles.
Persistent withdrawals from global oil inventories have led to increases in crude oil prices, but the EIA forecasts that global oil markets will begin to balance through 2023, leading to a drop in prices.
The revision will result in an impairment in the region of US$1.8 billion.