Oil & gas news

PETRONAS E&P Bobara Sdn. Bhd has signed a production sharing contract (PSC) for the Bobara working area located at the offshore of West Papua, Eastern Indonesia.

The recent Tangkulo-1 gas and condensate discovery has placed Mubadala Energy and the South Andaman block at the centre of a promising North Sumatra deepwater play, according to Wood Mackenzie.

Equinor will increase its ownership in the Heidrun field and Noatun discovery and reduce its ownership in the Tyrihans field and the Castberg field, as well as the Carmen and Beta discoveries.

Both projects are supported by the industry, with Phase I commencing immediately and Phase II planned for H1 2025.

Patterson-UTI energy has announced that its subsidiary, Patterson-UTI International Holdings, Inc., has signed a non-binding term sheet with ADNOC Drilling.

The company has announced the award of a large contract by Turkish Petroleum Offshore Technology Center AS (TP-OTC) relating to the Sakarya field development in the Black Sea, offshore Türkiye.

North Sea oil and gas operators could invest up to £3 billion in 14 major projects capable of cutting up to 32 million t of lifetime CO2e emissions from their production activities, according to the NSTA.

Honeywell and Weatherford has announced a partnership to deliver a comprehensive emissions management solution for the energy industry.

The Hibiscus South deposit has been confirmed to extend into the northern part of the field with good reservoir quality, increasing reserve estimates.

Digital twins can help in overseeing asset performance during operations and aid in personnel training, says GlobalData.