In the memorandum, the joint venture partners are expected to drill up to 20 additional wells in the Jubilee field over the extended licences’ life. Beyond crude output, the deal aims to nearly double volumes of gas supplied from the two offshore fields to about 130 million standard cubic feet per day.
The studies – conducted by MJR Power & Automation and Oasis Marine – are the last of three commissioned by ScottishPower Renewables to investigate methods for lowering greenhouse gas (GHG) emissions from offshore wind farm operations. The studies reinforced initial conclusions that utilizing battery-powered Service Operation Vessels (E-SOVs) for offshore operations is technically viable, allowing them to remain at sea for prolonged durations, ScottishPower Renewables said in a media release.
“Finalizing the contract with New Jeju Bio marks an even more significant achievement than we had previously envisioned”, Assaf Onn, CEO of Anaergia, said. “Not only is this a very significant project in a key new market, but it also clearly demonstrates how our industry-leading, integrated suite of technologies provides a proven, comprehensive solution for project developers seeking reliable, innovative organic waste-to-energy systems”.
Abu Dhabi National Oil Co. has been internally studying the prospects for acquiring some BP assets and has held initial consultations with bankers, the people said, asking not to be identified because the discussions are private. It is also considering partnering with another bidder to split some of the assets, they said.
World oil demand rose by 990,000 barrels per day in the first quarter of 2025, but the remainder of the year will see demand growth at just 650,000 bpd, the International Energy Agency said in its latest monthly report on oil, citing record sales of electric cars and weaker economic growth globally. As a result, the IEA put its full-2025 oil demand growth forecast at 740,000 barrels daily.
Of the 81 million tons of LNG that Australia exported last year, as much as 40% went to Japan. But Australia’s east coast has been suffering tight gas supply, which has become a hot political topic, with parties running in the latest elections, earlier this year, all prioritizing supply security for Australians in the east.
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.