Oilsands news

The outcomes would enhance the UK’s energy security and would ensure that emissions from North Sea oil and gas production remain world leading.

The licences contain two firm wells on the Oswig and Velocette prospects anticipated to drill in the summer 2022 and 2Q23 respectively. All the licences are operated by OMV which will retain a 40% working interest post-transaction.

Strong initial performance from new Gulf of Mexico production and onshore wells, balance sheet strengthening with debt reduction announcement, and increasing shareholder returns.

The company has secured new renewable electricity supplies for its operated assets in Germany, reducing emissions by more than 11 000 t of CO2 per year.

The rig acquisition is expected to create around 100 jobs in a variety of onshore and offshore roles.

MacGregor, part of Cargotec, has secured a contract with Otto Candies to deliver an active heave compensated FibreTrac offshore crane.

Work is continuing to confirm potential recoverable resources, but Neptune’s preliminary estimate is 8-24 million boe.

Upwing Energy will introduce its new comprehensive integrated End2End (E2E) service boosting production and recoverability in conventional gas wells at the 2022 Offshore Technology Conference (OTC).

ExxonMobil is the first company to achieve certification for natural gas production associated with oil. The certification from MiQ helps the company meet customer demand for energy produced with fewer emissions.

The three new discoveries offshore Guyana have increased its estimate of the recoverable resource for the Stabroek Block to nearly 11 billion boe.