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06 Aug 22
MODEC and Toyo Engineering Corp execute agreement to establish JV company to carry out large-scale FPSO projects
MODEC and Toyo Engineering Corporation have executed the agreement for the establishment of a joint venture company for the Engineering, Procurement, Construction and Installation (EPCI) business of Floating Production Storage and Offloading (FPSO) vessels.
05 Aug 22
Norway: Sval Energi acquires Suncor Energy Norge
Sval Energi has signed an agreement with Suncor Energy to acquire Suncor Energy Norge. The transaction will add a daily production of approx. 4000 barrels of oil equivalent and 19 million barrels of oil equivalent in reserves to the Sval Energi portfolio.
05 Aug 22
Orron Energy announces report for the six-month period ended 30 June 2022
Orrön Energy, an independent, publicly listed pure play renewables company, with high quality and low-cost renewables assets in the Nordics, previously known as Lundin Energy, has announced a report for the six-month period ended 30 June 2022.
05 Aug 22
Norway: NPD to present new resource report
On 25 August, Kjersti Dahle Grov, acting Director of technology, Analysis and coexistence, will present the Resource Report 2022. The report provides a general status and analysis of the long-term opportunities and challenges for petroleum activity on the Norwegian shelf (NCS).
05 Aug 22
US: Independent Resource Report confirms COPL's Wyoming oil discovery
Canadian Overseas Petroleum (COPL) has received a Resource Report prepared by independent energy consultancy Ryder Scott confirming its deep oil discovery on its affiliate COPL America Inc's lands in Converse and Natrona counties, Wyoming.
05 Aug 22
Eni Award: 2022 winners named
Eni has announced the names of the winning researchers and scientists of the fourteenth edition of the Eni Award, a prize established in 2007 that has become an international reference point for research in the fields of energy and the environment.
05 Aug 22
Turkey/Thailand: Valeura Energy announces Q2 2022 results
Valeura Energy, the upstream oil and gas company with assets in the Thrace Basin of Turkey and in the offshore Gulf of Thailand, reports its unaudited financial and operating results for the three and six month periods ended June 30, 2022. Valeura is continuing efforts to secure a suitable farm-in partner for its Turkey tight gas play.
05 Aug 22
Guyana: Tullow Oil's Beebei-Potaro exploration well offshore Guyana disappoints
Tullow Oil has announced that drilling operations at the Repsol-operated Beebei-Potaro exploration well, drilled in the Kanuku licence, offshore Guyana, have been completed. The well encountered good quality reservoir in the primary and secondary targets but both targets were water-bearing.
04 Aug 22
Borr Drilling announces LOI for jack-up drilling rig Prospector 5
Borr Drilling has received a binding Letter of Intent ('LOI') for the premium jack-up drilling rig 'Prospector 5' from an undisclosed operator in West Africa. The 6-well firm program is expected to commence during Q4 2022 and has an estimated duration of fourteen months plus options.
04 Aug 22
UK: UKCS decommissioning cost estimate drops 25 per cent to GDP 44.5bn
The North Sea Transition Authority’s (NSTA) Decommissioning Cost Estimate Report 2022 highlights industry’s ability to generate huge savings for the Exchequer and carry out projects in a more cost-effective manner. The forecast fell £1.5bn (2%) to £44.5bn last year – contributing to a total cut of £15bn (25%) since 2017.
04 Aug 22
APA Corp announces Q2 2022 financial and operational results
APA Corp has announced its financial and operational results for the second-quarter 2022. APA’s second-quarter earnings were $811 million. Net cash provided by operating activities was $1.535 billion, and adjusted EBITDAX was $1.957 billion. The company generated $814 million in free cash flow during the quarter.
04 Aug 22
Brazil: Petrobras concludes the sale of E&P assets in the Espirito Santo Basin
Petrobras has finalized the sale of all its stakes in the producing fields of Peroá and Cangoá, and in the BM-ES-21 concession (Malombe Discovery Evaluation Plan) jointly called Peroá Cluster, located in the Espírito Santo Basin, to the company 3R Petroleum Offshore.
04 Aug 22
UK: DNeX renames newly acquired FPSO for Avalon development
Dagang NeXchange Berhad ('DNeX'), via its subsidiary Ping Petroleum UK, has renamed its recently acquired Floating Production Storage and Offloading ('FPSO') vessel, previously known as the Sevan Hummingbird, to Excalibur. The FPSO will be used on the Avalon field development in UKCS Block 21/6b.
04 Aug 22
Westwood Insight – High impact exploration on the rebound: Major frontier discoveries and the most wells since 2019
Westwood Global Energy Group reports that high impact drilling activity will pick up in the second half of the year, with between 80 and 90 high impact wells expected to have been drilled by the end of 2022, the highest number since 2019 when 98 high impact wells completed.
04 Aug 22
UK: Quest to find new offshore energies chief begins
Offshore Energies UK (OEUK) has launched the search to find an outstanding industry leader who will champion the role of integrating the offshore energies sector in the transition to low carbon energy.
04 Aug 22
Getech announces USD 1 million contract sale and release of next generation of Globe platform
Getech, the geoenergy and green hydrogen company, has signed a $1.1 million multi-year contract with a major international energy company for its 'Globe' platform and launched the next generation of this innovative tool that models the Earth's evolution over the last 400 million years.
04 Aug 22
Egypt: United Oil and Gas provides update on AJ-14 development well
United Oil & Gas has announced an update on the drilling of the Al Jahraa-14 development well ('AJ-14') in the Abu Sennan licence, onshore Egypt. Both the primary and secondary targets of the well are planned to be tested and completed, and if successful, the well will be brought immediately onstream through the existing facilities.
04 Aug 22
Romania: Serinus Energy commences drilling of the Canar-1 exploration well
Serinus Energy has announced that the drilling of the Canar-1 exploration well in Romania. The Canar prospect is located on the northern flank of the Carei Basin, approx. four kilometres to the west of the Company's Moftinu Gas Plant.
04 Aug 22
Algeria: Petrofac consortium awarded EPC project in Algeria
Petrofac, leading a consortium with Genie Civil et Batiment (GCB), has received notification of a provisional award for an engineering, procurement and construction contract with Sonatrach for the Tinrhert EPC2 Development Project in Algeria. The contract is valued at approx. US$300 million, with Petrofac’s share around US$200 million.
04 Aug 22
Australia: Empire Energy reports successful hydraulic stimulation of Carpentaria-2H
Empire Energy has provided an update on the hydraulic stimulation of Carpentaria-2H in the Beetaloo Basin, a key milestone in the execution of the 2022 drilling, stimulation and flow testing program, the largest in the company’s history.
03 Aug 22
Nigeria: Sirius Petroleum secures OML 65 approvals fom NNPC and Phase 1 approved work programme
Sirius Petroleum has announced that its JV partner, COPDC, has received the requisite approvals from the Nigerian National Petroleum Corporation ('NNPC') that enables the company to proceed with the drawdown of financing in order to commence Phase 1 of the Approved Work Programme ('AWP') in respect of OML 65 in Nigeria.
03 Aug 22
Australia: Neoen signs a 40 MW PPA with Flow Power for Goyder wind farm in South Australia
Neoen, one of the world’s leading producers of exclusively renewable energy, has signed a power purchase agreement with Flow Power, one of Australia’s fastest growing and most innovative electricity retailers, for 40 MW of energy from its Goyder South Stage 1 wind farm in South Australia.
03 Aug 22
US DOE announces USD 26 million to fund projects that will demonstrate how US Power Grid can run on 100 per cent clean energy
The Biden-Harris Administration, through the U.S. Department of Energy (DOE), has announced $26 million to fund projects that will demonstrate that America's electricity grid can reliably run with a mix of solar, wind, energy storage, and other clean distributed energy resources.
03 Aug 22
Oman: Maha Energy awards drilling contract to Gulf Drilling in Oman for a six well drilling campaign
Maha Energy has announced the signing of an Agreement with Gulf Drilling for the drilling of a minimum of six wells, on Block 70, onshore Oman. Immediate plans for the Mafraq oilfield include obtaining important reservoir information to assist in developing a full Field Development Plan. The drilling program will consist of a minimum of six wells on the Mafraq structure.
03 Aug 22
Cote d'Ivoire: PGS Cote d'Ivoire MegaSurvey tracks regional prospectivity from Baleine East
PGS congratulates Eni on the recent extension of the Baleine discovery in Cote d’Ivoire. Eni's Baleine East 1X well highlights the continued success of the Upper Cretaceous petroleum system offshore Côte d’Ivoire and Ghana. PGS has excellent seismic coverage over the Tano Basin including the Baleine 1X and Baleine East 1X wells.
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