Oil & gas news

The preferred share investment consists of an initial subscription of US$10 million, with up to a further US$15 million in future tranches of preferred shares subject to the continued growth and success of IWS.

TotalEnergies, and its co-venturers QatarEnergy and Petronas Petróleo Brasil have won the Agua Marinha block in the Open Acreage under Production Sharing Regime.

The move will improve communication and automation in workload distribution and increase the transparency of project-related risks and costs for the management team and wider stakeholders.

The partnership will provide training and competence management solutions for Mozambique’s domestic onshore and offshore developments.

CGG has announced the sale of its US land seismic multi-client library to Bon Ton Seismic LLC.

Along with Aker BP, Equinor has made an investment decision and will submit a plan for development and operation for Krafla to the Minister of Petroleum and Energy.

The Aberdeen-based project and risk management consultancy company, has announced a one-year contract with Ithaca Energy for the use of its digital project management system.

The oil and gas sector can mitigate barriers to investment by acting on recommendations in a new report on environmental, social and governance (ESG) disclosure.

According to the company, key themes to watch for include operators’ shifting capital allocation dynamics, growing momentum in decarbonisation and renewable energy and continued reconfiguring of oil and gas projects and portfolios.

The major oil plays within the L48 region include the Permian, Bakken, Eagle Ford and DJ basins. Together, they are expected to cumulatively produce around 7.5 million bpd of crude oil in 2022.