Subsea 7 has been awarded a contract worth up to USD 300 million for works offshore Saudi Arabia as part of a long-term agreement, the company said on Thursday.
Construction on the expanded plant is set to begin in mid-2025, with first production expected in 2028, followed by a three-year ramp up to full capacity.
Colombia’s state-owned energy company Ecopetrol and Canadian independent Parex Resources have signed five new agreements to conduct E&P activities in Colombia’s Putumayo and Piedemonte basins, the companies announced on Wednesday. In the Putumayo basin, Parex will acquire a 50% working interest in the Orito, Area Sur, Occidente and Nororiente blocks and assume full operatorship. The company has […]
Dr Doku explained that the delay was due to routine pipeline maintenance, which included an extensive cleaning exercise mandated by regulatory requirements.
For 2025, global oil demand growth was also revised down slightly by 90,000 bpd from the previous month’s assessment to 1.4 million bpd year-over-year, driven by 100,000 bpd growth in OECD oil demand and 1.3 million bpd growth among non-OECD countries.
SLB will carry out integrated services to oversee the construction of over 100 wells primarily at Petrobras’ deepwater fields in the Campos, Santos and Espirito Santo basins using advanced drilling, cementing and drilling fluids technologies on up to nine rigs.
The Brazilian government has approved the inclusion of seven new exploration blocks to the country’s planned third pre-salt round under the permanent offer initiative that is set to take place in mid-2025.
ExxonMobil’s priority in winning its arbitration challenge against Chevron and Hess over the prolific Stabroek block offshore Guyana is not whether the case could blow up the proposed $53 million merger between the two US operators, chief executive Darren Woods told analysts Wednesday.
Subsea7 has won a “substantial” contract for a subsea tieback development in the US Gulf of Mexico for an undisclosed client.
Exact terms of the deal were not revealed, though the Luxembourg-based subsea contractor deems a contract “substantial” when its value falls between $150 million and $300 million.
The workscopes aim to develop detailed plans for infrastructure needed to manage the CCS process, including from the capture of carbon dioxide at industrial sites to its transportation via pipelines and subsequent storage in depleted offshore reservoirs.