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.
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CNOOC International submitted bids for three blocks – TTDAA 24, TTDAA 25 and TTDAA 30 – while a consortium of STIT Energy and GROUNDPORTS Limited bid on Block TTDAA 5. The bidding round, which closed on 17 September, aimed to attract new investment in the country’s underexplored deepwater acreage.
The company drilled six wells during the first half of the year. They include two successful attempts, Sirius-2 ST2 offshore and Currucutú-1 onshore, and two wells that are under evaluation, Toritos Oeste-1 and Toritos Sur-3.
The engineering, preparation, removal and disposal (EPRD) contract will see Allseas deploy its Pioneering Spirit heavy-lift vessel — the largest in the world — to remove the 33,000-tonne topside and 12,000-tonne upper jacket in two separate campaigns starting later this year.