Oil & gas news

Rystad Energy’s latest research shows global recoverable oil reserves held largely steady at around 1500 billion bbl, down some 52 billion bbl from the company’s 2023 analysis.

KCA Deutag and Helmerich & Payne has announced a definitive agreement under which KCA Deutag will be acquired by H&P for US$1.9725 billion in cash.

PETRONAS, through its subsidiary PETRONAS CCS Solutions Sdn Bhd, has signed a land rental agreement with Kuantan Port Consortium Sdn Bhd, to progress plans for its southern carbon capture and storage (CCS) hub in Pahang, Malaysia.

In cooperation with Cenpes, Petrobras’ research, development, and innovation centre, the partnership aims to improve the industry by bringing a next-generation downhole drilling system to fruition.

The report details progress on the company's environmental initiatives, its path to achieving net zero emissions from its owned and operated upstream and natural gas midstream businesses, and updates on employee engagement and safety performance.

The company has been awarded a substantial contract by Petrobras to supply flexible pipe for the pre-salt fields offshore Brazil, following completion of a tender.

The new subsurface data includes ten narrow azimuth input 3D seismic surveys, processed by ION in 2022 using 3D pre-stack depth migration.

The contract will commence in November 2024 in direct continuation of Archer’s current contract for drilling operations and maintenance on Equinor’s Peregrino A & B platforms.

Global Market Analysis, Director Claudio Galimberti, Rystad Energy, provides an oil macro update after prices were seen to take a hit.

CNOOC and 80883 (RMB Counter) has announced that it has achieved a high yield well in Beibu Gulf, which produces over 1000 m3/d of oil.