Oil & gas news
Sakarya Phase One kick-starts Turkey’s upstream sector transformation
According to Wood Mackenzie, Sakarya Phase One will put a sizeable dent into the country’s energy import bill, which reached US$97 billion in 2022.
Oil discovery near the Gudrun field in the North Sea
The well was drilled about 5 km west of the Gudrun field in the North Sea, and about 230 km west of Stavanger.
Wood Mackenzie: Oil and mining companies must adapt new strategies to deliver low-carbon transition
As companies in the energy sector struggle to find the balance between satisfying shareholder returns and meeting stakeholder low-carbon demands, new strategies are emerging that could be the catalyst to drive capital allocation decisions toward growth and closing valuation gaps, according to a new Horizons report from Wood Mackenzie.
bp starts oil production at Argos platform in the Gulf of Mexico
With a gross production capacity of up to 140 000 bpd, Argos is bp’s fifth platform in the Gulf of Mexico and the first new bp-operated production facility in the region since 2008.
Wärtsilä to operate power modules for 3R Petroleum
Wärtsilä will operate the power modules onboard a FPSO vessel, on behalf of the owner 3R Petroleum and has also signed a five-year optimised maintenance agreement with the company to ensure the reliability and performance of the installation.
Intelligent Wellhead Systems opens new base of operations in Texas
Rapid adoption of automation technology and digital solutions for completions drove the need for local customer support, logistics and a full-service operations base to support the Permian Basin.
Neptune Energy to create digital twins of offshore platforms in the Dutch North Sea
The company has announced an agreement to create new ‘digital twins’ of two offshore platforms in the Dutch North Sea, expanding its portfolio of digitised assets to 14.
TotalEnergies and the Iraqi Government make plans to move forward with Gas Growth Integrated Project
While confirming all the terms of the Development & Production Contract signed in 2021, TotalEnergies and the Iraqi Government have jointly defined the necessary conditions and mutual insurances to move forward with the Gas Growth Integrated Project (GGIP).
SBM Offshore completes project financing of FPSO Almirante Tamandaré
The project financing is provided by a consortium of 13 international banks with insurance cover from 4 international Export Credit Agencies (ECA).
Significant UK gas reserves used through flaring and venting
The UK has lost about 13 billion cubic metres (bcm) of indigenous gas reserves through flaring and venting over the past 10 years, exposing oil and gas operators to £2.6 billion in lost gas sales and £1 billion in Emissions Trading System (ETS) payments.