Oil & gas news

Abu Dhabi National Oil Company (ADNOC), the State Oil Company of Azerbaijan (SOCAR) and TotalEnergies have announced a strategic transaction that will see ADNOC acquire a 30% equity stake in the Absheron gas and condensate field in the Caspian Sea.

Gas produced during the ramp-up period is estimated to be approximately 1 800 000 cm3 with 100% of this gas sold to BP Gas Marketing under the 18-month supply agreement.

After completion of this transaction, which is subject to the approval by the relevant authorities, TotalEnergies will own a 35% interest in Absheron gas field, alongside SOCAR (35%) and ADNOC (30%).

The partnership will see UnderOcean provide business development and engineering support on behalf of FET’s Subsea Technologies product line in Brazil.

TGS has announced the successful completion of a key project in the North Sea and the start-up of the next project in the same area.

TechnipFMC has received a significant award by Azule Energy to supply flexible pipe for its Ndungu project, offshore Angola.

Falcon Oil and gas have announced the spudding of the Shenandoah South 1H well in the Beetaloo Sub-Basin, Northern Territory, Australia.

C-Kore Systems have successfully completed a decommissioning campaign offshore Australia, using sensor monitor units to interrogate the wellhead pressure and temperature sensors on the subsea oilfield.

Tracerco has announced a supply and marketing agreement with oilfield services company, Kobold Completions Inc.

Spending on conventional oil and gas exploration is rebounding and is expected to top US$50 billion this year, according to Rystad Energy.