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Guyana, situated on South America's northern coast neighbouring Venezuela, Suriname, and Brazil, has emerged as a significant contributor to growth in the global supply of crude oil.
The company’s analysis foresees this new combined operation focusing first on integration, but constantly looking for new inorganic growth opportunities in the country or even internationally.
The company worked in partnership with another contractor to mitigate the need for 4340 m3 of crude oil sludge to be tankered to incineration, achieve a significant cost saving and recover 1280 m3 of usable oil.
According to Wood Mackenzie, TotalEnergies and APA Corporation are close to sanctioning a cluster FPSO development on Block 58.
The Wyoming Gas Injection Initiative (WGII) is set to launch to enhance oil well productivity and recovery from existing fields and wells in Wyoming.
Saipem has been awarded a new offshore contract by Azule Energy Angola S.p.A., subsidiary of Azule Energy Holdings Ltd. an incorporated joint venture between Eni and bp, for the development of the Ndungu Field as part of Agogo Integrated West Hub Project, located approximately 180 km off the coast of Angola. The value of the contract is around US$850 million.
Seadrill has announced that it has entered into a definitive agreement to sell three jack-up rigs—the West Castor, the West Telesto and the West Tucana, and its 50% equity interest in the joint venture that operates these rigs offshore Qatar to Seadrill’s joint venture partner gulf drilling international for cash proceeds of US$338 million.
Oil demand will rise further in the medium term, according to Rystad Energy research and modelling, as low-carbon alternatives are not yet sufficiently developed or economically competitive to offset the growing demand for transportation and industrial services.
The acquisition will help Expro to expand its portfolio of cost-effective, technology-enabled well construction and well intervention and integrity solutions.
To further support its growth strategy, the company will launch the new Viridien brand on 10 June at the upcoming EAGE Annual Conference in Oslo.
PETRONAS Suriname E&P B.V. a subsidiary of PETRONAS, has made a third hydrocarbon discovery in Block 52 at the Fusaea-1 exploration well in Suriname’s Block 52, located about 170 km offshore and 9 km east from Roystonea-1.
These latest projects represent a notable increase in AquaTerra’s roster of decommissioning projects between 2023 and 2025.