OKEA ASA and its partners in production license 055 have made a discovery that is estimated to hold 300,000 to 2.8 million barrels of recoverable oil equivalent along the eastern flank of the already producing Brage field on Norway’s side of the North Sea.
bp Trinidad and Tobago (bpTT) announced today that the Mento development has safely delivered first gas through connection of the initial discovery well and the drilling campaign for the remaining seven gross wells on the platform will now begin.
Exxon remains confident it will prevail in the case over the field’s ownership at the International Chamber of Commerce, Neil Chapman, Exxon’s senior vice president, said at the Bernstein Strategic Decisions Conference in New York on Thursday. But there will be “no change for us” if Exxon loses, he said.
South Africa has proposed to buy liquefied natural gas (LNG) from the United States over a 10-year period as the country looks to secure a trade deal with the Trump administration, a ministerial statement by the South African government has revealed. South Africa plans to import 75 to 100 million cubic metres of LNG per year from the U.S., the world’s top LNG exporter. According to Khumbudzo Ntshavheni, South Africa’s Minister in the Presidency, the deal would “unlock approximately $900 million to $1.2 billion in trade per annum and $9 billion – $12 billion for 10 years based on applicable price.” According to Ntshavheni, U.S. LNG will not replace South Africa’s current supplies but rather complement them.
The OML118 Production Sharing Contract (PSC) is located deep offshore at ~74 mi (120 km) south of the Niger Delta in Nigeria, and contains the Bonga field, which started production in 2005, as well as the Bonga North field, the development of which started in 2024. Production from the OML 118 PSC, which is mainly oil, represents approximately 11,000 boed in TotalEnergies’ company share in 2024.
“This step represents another example of the development of Eni’s satellite model strategy, aiming at attracting strategically aligned capital from valuable new partners at attractive terms, confirming the value Eni is creating in its new energy transition-related businesses and funding their further growth.
The fire occurred while the platform was undergoing scheduled maintenance. A total of 17 people were injured. Authorities are working to recover a body spotted underwater near the platform, according to the ministry.
It was these nations that shattered market expectations on April 3, when they announced their first super-sized hike — triple the volume originally scheduled. The shock move, unveiled just hours after President Donald Trump launched a global trade war, helped send crude futures to a four-year low below $60 a barrel in the ensuing days, marking a rupture with years of efforts by the coalition to try to shore up prices.
The initial 2MW installation is set for November 2025. The facility is located near a natural gas fuel conditioning plant that converts gas into LPG for the Asia Pacific region. The project will use some natural gas from this process for the Capstone microturbines, exporting generated power to the local grid to meet the community’s current demand of 2MW. As more residents and businesses connect, capacity is expected to increase to 5MW, Capstone said.
Ecopetrol is racing to develop new gas sources as the nation’s dwindling reserves force increased imports to supply homes and factories. President Gustavo Petro’s administration has halted new exploration contracts since taking office in 2022, which means drillers must squeeze value from existing assets.