Guyana’s offshore oil industry is set to take a major leap forward as the One Guyana floating production, storage, and offloading (FPSO) vessel readies its first export cargo. According to Reuters, the inaugural shipment of the newly branded ‘Golden Arrowhead’ crude grade is slated for late August to early September, marking a critical milestone for the ExxonMobil-led consortium that includes Hess Corp. and China’s state-run CNOOC.
Baker Hughes has a history of successful integrated P&A projects, as well as its innovative portfolio of Mature Assets Solutions with a proven track record of increasing efficiency, accelerating timelines and reducing total operating costs. Through this integrated P&A program, Baker Hughes will plug and abandon wells and provide project management services on behalf of Equinor.
Aquaterra Energy, a leader in offshore engineering solutions, has secured two major contracts to support the Northern Endurance Partnership (NEP), the CO2 transportation and storage provider for the East Coast Cluster. The project, which will initially serve three carbon capture projects in the Teesside region is the first offshore carbon capture and storage (CCS) project in the UK to receive a carbon storage permit.
TotalEnergies, as operator of Block 17, has worked with partners to develop the block into a cornerstone of Angola’s oil production for more than 20 years. The renewed PSC allows for the continued use of existing infrastructure and technological expertise to support value creation from mature oilfields.
One concession was awarded to ADNOC and Japan’s JODCO Exploration, a subsidiary of INPEX, for Onshore Block 4, located north of Abu Dhabi City. JODCO will hold a 40% stake, and ADNOC will retain 60%. Drilling campaigns carried out on the block since 2021 have discovered multiple oil and gas reservoirs.
“This initiative is a brilliant one, and PHDC cannot do it alone. They need critical partners and one of the most crucial partners in any democratic setup is Parliament,” Bagbin stated, adding: “All government agencies must collaborate with Parliament to ensure the success of this project. Failure to do so will be to our collective detriment.” The Speaker reaffirmed his personal endorsement of the project designed to establish Ghana as West Africa’s premier downstream oil and gas center, featuring integrated refining, petrochemicals, storage, and export infrastructure to drive industrialization and job creation.
Operatives from the Office of the Special Prosecutor (OSP) and National Security have raided the Osu and Tema offices of Strategic Mobilization Ghana Limited (SML) yesterday morning, escalating a bitter dispute over revenue collection in the nation’s petroleum sector that industry sources claim is being orchestrated by entrenched oil cartels.
Speaking at a press conference in Accra on Monday, the Ranking Member on the Economy and Development Committee, Kojo Oppong Nkrumah, called on government to reconsider its recent introduction of an 8% levy on fuel and instead implement more effective long-term reforms.
“Petrofac will provide EPCM [engineering, procurement and construction management] services and oversee procurement and construction contracts to build a new inlet facility, two new gas dehydration and compression trains, each with a capacity of 420 million standard cubic feet per day, and associated infrastructure”, Petrofac said separately.
Lowering a Group of Seven-sponsored oil-price cap to $45 will require backing from the US. The price threshold, which bans G-7 service providers from transporting and dealing with crude sold above the cap, is currently set at $60. G-7 leaders will discuss the issue when they meet in Canada later this month, von der Leyen said.