Equinor, Vår Energi and Aker BP make oil discovery in North Sea
Recoverable resources from the discovery in production licence 554 are estimated at between 1.3 and 3.6 million m3 of oil equivalent, corresponding to 8-23 million boe.
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Recoverable resources from the discovery in production licence 554 are estimated at between 1.3 and 3.6 million m3 of oil equivalent, corresponding to 8-23 million boe.
The FPSO will be deployed in the Búzios field offshore Brazil.
Global oil demand is set to return to pre-pandemic levels by the end of 2022, according to the International Energy Agency's latest monthly oil report.
The new facility will enable the Group to simplify its existing capital structure and finance the acquisition of a 26.69% interest in the Golden Eagle Development Area Project in the North Sea.
The US$508 million transaction includes approximately 25 000 net acres in the Southern Delaware Basin in Texas.
The award is from an undisclosed company, with the project anticipated to start in 4Q21.
Oil Dynamics GmbH recently installed and started up two new ESP systems near Hannover in Germany.
Wood Mackenzie’s Ed Crooks has commented on the issues facing Big Oil as investor pressure and court challenges over climate change grow.
The technology, developed by PaleBlue and used to train astronauts travelling to the International Space Station, will reduce the need for offshore travel, lower costs and associated emissions and support safe operations.
EM&I developed HullGuard specifically for FPSOs, MODUs, FSRUs and FLNG assets.
With the East African Oil Pipeline project recently getting the go-ahead, Uganda is set to produce its first oil as early as 2025 and production in the next five years is expected to jump to 230 000 bpd, from zero in 2021, according to GlobalData.
The company has said that the volumes flowed during the test are equivalent to over 10 000 boe/d.