Oilsands news

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

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.

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

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.

The transaction will contribute to the optimisation of Maersk's fleet in line with the company's strategic priorities.

Neptune Energy announced it has received an improved environmental, social, and governance rating from Sustainalytics of 23.2, putting it in the top 3% of all oil and gas companies rated by the organisation.

Maersk Training is set to increase headcount across its UK sites as it looks to recruit new instructors due to industry demand.

The contract extension has a duration of one year and is expected to commence in July 2023, in direct continuation of the rig’s current contract.

Eni announces new oil and gas discoveries in Western Desert for approximately 8500 boe per day.