The unit will support an RDP contract with Ecopetrol signed in February 2025 to provide regasification and logistics services to bring 1.7 mcm (60 mcf) per day of gas into the Colombian market.
First oil is expected in Q2 2029 from the project, which will utilise an FPSO with a production capacity of 150,000 bopd.
Kuwait had a similar production capacity in the late 2000s, with capacity hitting the highest on record of 3.3 million bpd in 2010. Kuwait’s oil production capacity began to drop after 2010, but the OPEC heavyweight has launched a program in recent years to raise it.
With a reported value of approximately USD 163.4 million, it represents the largest standalone well-logging contract secured by a Chinese company overseas, according to statements to Upstream by a company official.
Petrofac has extended its long-running partnership with Ithaca Energy, winning a two-year, $50 million contract renewal to provide integrated services across the operator’s UK North Sea portfolio.
BW Offshore has achieved first gas on its BW Opal floating production, storage and offloading unit (FPSO), marking a major milestone in Santos’ Barossa LNG project offshore Australia.
According to the National Agency for Petroleum, Gas and Biofuels, production rose to 1.03 million bpd in August from 998,757 bpd in July. The rebound aligns with Angola’s strategy to stabilize production near 1 million bpd, a threshold viewed as critical for maintaining investment momentum in the country’s upstream sector.
The rates for chartering supertankers have surged to a nearly three-year high this month as more crude is moving out of the Middle East and the U.S. to Asia, Reuters reports, citing sources in the shipping industry and data from LSEG. As OPEC+ continues to raise production, shipments out of the world’s key exporting region, the […]
Asia’s oil demand is growing in the autumn, too, whereas major importers like China keep stockpiling crude, so OPEC+ was right to continue boosting supply, Alexander Dyukov, chief executive at Russian oil producer Gazprom Neft, said on Thursday.
The 65-kilometre pipeline will connect Ramat Hovav in southern Israel to the Nitzana crossing on the Egyptian border. Construction is expected to begin in the fourth quarter of 2025 and take around three years, subject to regulatory approvals.
lev