Oil & gas news

The Ministry of Petroleum and Energy (MPE) has extended the production licenses in the Greater Ekofisk Area from 2028 to 2048.

The amount received at the closing adds to the amount of US$56 700 paid to Petrobras when the sale contracts were signed, totalling an amount of US$63 000.

Global oil demand is expected to reduce as a result of slowing economic activity and GDP growth cuts.

CNOOC announced that Luda 5-2 oilfield north phase I project and Kenli 6-1 oilfield 4-1 block development project have commenced production.

The combined entities will offer advanced milling and swarf handling services to deliver verifiable, emission-free well barriers and predictable alternative zonal isolation solutions to the plugging and abandonment (P&A) industry.

Improvements in the US shale sector are a significant driver of the decline in flaring activity.

Cloudbreak will act as a financial partner and sit on the joint operating committee giving corporate direction and reviewing technical information.

The plan provides an overview of how the company is progressing towards its 2050 net zero ambition through short-term actions and medium-term ambitions.

The project will boost production at the existing Maria field in the Norwegian Continental Shelf. The contract includes subsea trees, spools, jumpers, and flexible pipes.

Hod B in the North Sea will soon come on stream, thanks to an unmanned facility remote-controlled from the Valhall field.