Oil & gas news

In order to maintain the same level of production in the mid-term, the country needs to stimulate the exploration sector and pour investments in less explored areas such as deepwater offshore T&T, says GlobalData.

The units provided from Cubility will be deployed for onshore operations with Sinopec and China National Petroleum Corp.

The job scope involved providing a safe and consistent platform to stack up/rig up wellbore pressure control equipment above the drill floor of an offshore drilling vessel to allow the service provider to place an injector unit on the platform.

Maersk Drilling has been awarded a two-well contract extension by Karoon Energy, while TechnipFMC will carry out engineering, procurement, construction and installation of subsea trees, flexible pipes and umbilicals.

According to GlobalData’s latest report, ‘DJ Basin in the US, 2021 – Oil and Gas Shale Market Analysis and Outlook to 2025’, the Denver Julesburg Basin accounted for 7.02% of oil and 6.65% of natural gas production in the United States Lower 48 for 2020.

The FPSO will be the first application of MODEC's “M350 Hull”.

The Satellite Cluster Project scope for Reliance Industries included subsea pipelines and the installation of jumpers, umbilicals, in-line structures, pipelines, subsea manifolds and associated structures and pre-commissioning of pipelines and umbilicals.

The combined value of the awards is approximately US$550 million and will account for 13 years of contract backlog.

The development will include 140 km of rigid risers and flowlines, 40 km of umbilicals and 19 trees, as well as associated subsea equipment, in water depths of approximately 2050 m.

From 2022, taxes will be limited to the low US$800 billion range, only ticking up in the early 2030s to about US$900 billion, before starting their final and uninterrupted decline to as low as US$580 billion in 2040 and about US$350 billion in 2050, according to Rystad Energy.