Upstream news

New in-depth report highlights how a legacy ‘CAPEX first’ mindset is leaving operators missing out on superior performance and cost benefits.

The US Energy Information Administration has forecast crude oil production in the Federal Offshore Gulf of America [Gulf of Mexico] (henceforth GoA) will average 1.80 million bpd in 2025 and 1.81 million bpd in 2026, compared with 1.77 million bpd in 2024, in its most recent Short-Term Energy Outlook (STEO).

Onshore crude oil production in the US Lower 48 states (L48) has more than tripled since January 2010, driven by tight oil production growth in the Permian region.

ADNOC Drilling will acquire a 70% stake in the JV with SLB, with the transaction expected to be earnings, cashflow and returns accretive.

The US Department of the Interior has identified significant undiscovered, technically recoverable oil and gas resources in the Mowry Composite Total Petroleum System.

The contracts - which integrate some of Expro’s most advanced technologies – are collectively valued at over US$80 million.

Subsea7 will be responsible for transporting and installing flexible pipelines, umbilicals, and associated subsea components for the connection of a floating production, storage and offloading (FPSO) vessel as well as the pre-laying activities for an upcoming drilling campaign.

Agreement grants ADNOC exclusive rights to Tubacex’s tubular joint connection technology which is used for completing oil and gas wells.

The FEED study will finalise the technical definition of the proposed subsea development.