In the oil and gas industry, 'Christmas trees' are not a seasonal decoration. They are critical components that make it possible to control and monitor the wellhead and stop the oil flow in an emergency.
The contract was granted following a technical and commercial pre-selection process. It now enters a competitive dual FEED phase, where two separate consortia will propose independent technical solutions.
Lime Petroleum AS is pleased to share that the operator of PL740 Bestla, in which Lime has a 17% interest, has on 4 August 2025, spudded the first of two production wells.
The successful multi-stage job has demonstrated time savings, hands-free operation, and global applicability.
Valmet signs a strategic agreement to deliver valve services to Petrobras in Brazil.
This marks the birth of the first shale oil field in the Sichuan Basin, as well as the first oil field in Chongqing.
The Yellowtail Project is located in the Stabroek Block offshore Guyana, with water depth of 1600 - 2000 m.
Johan Castberg is Norway's northernmost oil field. The field will produce for at least 30 years.
Yellowtail’s ONE GUYANA floating production storage and offloading (FPSO) vessel joins the Destiny, Unity, and Prosperity FPSOs, bringing total installed capacity in Guyana to above 900 000 bpd of oil.
The aggregate purchase price for the Blocks and Consortiums is US$15.55 million, subject to customary working capital adjustments as of the effective date of January 1, 2025.
MOL Group continues to diversify oil supply in the region: the company has imported 85 000 t of CPC blend crude oil and signed an oil trading agreement with Kazakhstan's national oil company, KazMunayGas (KMG).
The Cherne and Bagre fields had their production halted in March 2020, and their respective production facilities have been mothballed since then.
The project adds 20 000 boe/d of gross peak annualised average production at the existing Argos platform.
Hunting Subsea Technologies delivers titanium stress joints for a major deepwater project in Guyana.
The multi-year contract includes MPD services for an initial 8 wells with the potential to expand to 24 wells. The award reinforces Weatherford’s market leadership in high-performance MPD and expands its presence in Mexico’s offshore energy sector.