“The farm-down agreement between Impact and TotalEnergies that was completed last year provides full carry of Impact’s exploration and development costs on Blocks 2912 and 2913B through to first commercial production from these blocks. This presents us with an attractive opportunity set to test different geological plays on these blocks at no upfront cost”, Africa Oil President and CEO Roger Tucker said.
Aquajet has introduced a new support system designed to enhance the capabilities and flexibility of Hydrodemolition robots in challenging environments. The system centers around the upgraded Aqua Spine 3.0, an extendable rail system that attaches easily to any surface, providing a stable platform for the Power Head to move along during operation.
Offshore oil is back in a big way. After years of costly offshore oil contacts being put on ice due to lower-than-ideal oil prices and uncertain future demand, these projects have been roaring back to life around the world. But the future of the sector remains uncertain as a looming oil glut may be scaring off would-be investors.
Even as a few deepwater drilling or development programs previously slated for 2024 have been pushed back by months or even into the new year, current oil prices and economics of offshore projects remain strong, the top executive at a large global deepwater driller said Sept. 3.
Since the late 1930s, the offshore industry has advanced from the first platform in 14 ft of water to the ultradeepwater 20K era. Driven by seismic, drilling, and development breakthroughs, the industry has pushed into deeper waters, high-pressure reservoirs, and new frontiers like Guyana, continually expanding the limits of offshore exploration.
Investments in the offshore sector are on the rise and are seen growing about 5% both this year and next, according to a recent report by Espen Erlingsen, Rystad Energy’s head of upstream research.
TotalEnergies plans to exit its discoveries of gas-condensate off the tip of South Africa to prioritise exploration in other areas closer to Namibia, according to people familiar with the matter.
Like 80% of Guyana’s college graduates, Richard Singh had left the tiny South American nation for better job prospects abroad. Then, in a surprising turn of events, he realized he could make more money back home.
Riggs Distler, a Centuri company, is one of the largest union utility, mechanical, and electrical contractors in the United States with a growing portfolio of work in emerging clean energy technologies. With its corporate headquarters in Cherry Hill, NJ and multiple offices across the Garden State, the firm brings over a century of local market experience.
The arbitration process to determine whether ExxonMobil can block the $53 billion sale of Hess Corp to Chevron is stalled due to the incomplete appointment of a third arbitrator, according to Reuters.