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28 Feb 24
Seadrill announces fourth quarter and full year 2023 results
Seadrill has announced its fourth quarter and full year 2023 results. The Company delivered full-year operating profit of $329 million and full-year Adjusted EBITDA of $495 million, in line with guidance, and reported fourth quarter Adjusted EBITDA of $100 million, consistent with management expectations.
28 Feb 24
UK: THREE60 Energy pens multi-million pound deal with Sumitomo
THREE60 Energy has signed a multi-million pound contract to design and deliver cable storage carousels for the Sumitomo Electric Industries power cable factory in Nigg, Scotland. Earlier this year, Japanese headquartered Sumitomo announced the build of the £200m state-of-the-art power cable factory in the area, which will bring more than 150 jobs to the region.
28 Feb 24
Nigeria: Helix secures deepwater well intervention contract with Esso offshore Nigeria
Helix Energy Solutions has announced a deepwater well intervention contract award by Esso Exploration and Production Nigeria. The project, located offshore Nigeria in the Erha and Usan fields, is expected to commence in September 2024.
28 Feb 24
Norway: DeepOcean to inspect pipelines for Equinor
Ocean services provider DeepOcean has been awarded a contract by Equinor to deliver pipeline inspection and survey scopes on the operator’s pipelines in the North Sea.
28 Feb 24
ABL appointed tow master to Mero 3 voyage
Energy and marine consultancy ABL has been awarded a contract to act as tow master to support and supervise the towage of the Mero 3 FPSO from Yantai, China, to Brazilian waters. Once in Brazil, the Mero 3 FPSO will be installed in the Mero Field development in the deepwater Santos Basin.
28 Feb 24
Norway: ConocoPhillips given consent to start up Eldfisk nord
ConocoPhillips has been given consent to start up Eldfisk nord in the North Sea. The Eldfisk field is located in Block 2/7 and is part of the Greater Ekofisk Area. The resource potential is projected to be 50-90 million barrels of oil and start-up is expected during the first quarter.
28 Feb 24
TotalEnergies unlocks the potential of generative artificial intelligence for its employees
TotalEnergies is among the first organizations to deploy Copilot for Microsoft 365, Microsoft's generative artificial intelligence assistant, for its employees. After making Bing Chat Enterprise, a secure AI chat solution based on internal data, available to employees in August 2023, the Company is pursuing its digital transformation.
28 Feb 24
US: New Ipsos Poll: 2 in 3 voters view America on wrong track on energy
The American Petroleum Institute (API) has released a new national poll conducted by Ipsos demonstrating widespread concern over Washington’s approach on energy policy. Two out of three American voters say the country is on the wrong track on energy policy, and following the administration’s recent pause on LNG export permits, the poll found nine in 10 Americans believe the U.S. should continue to supply natural gas to allies overseas.
28 Feb 24
UK: Boost for UK hydrogen as government backs world-leading industry
Low carbon hydrogen will get a further boost with over £21 million of government support for 7 projects to make green fuel, powering up local transport and businesses from Suffolk to Shetland. Announcement made at the second Hydrogen Investor Forum, with industry leaders gathering to discuss growing economic opportunities in the UK.
28 Feb 24
US: 88 Energy provides Hickory-1 flow test update
88 Energy reports final preparations for the commencement of flow testing operations are advancing at the Hickory-1 well. Mobilisation operations are complete and pre-flow testing operations have advanced at the fully funded Hickory-1 discovery well.
28 Feb 24
Iraq: Gulf Keystone Petroleum announces update on Shaikan field local sales
Gulf Keystone, a leading independent operator and producer in the Kurdistan Region of Iraq, has provided an update on Shaikan field local sales ahead of its 2023 Full Year Results on 21 March 2024.
28 Feb 24
Denmark: BlueNord provides update on progress of the Tyra Redevelopment Project
BlueNord has provided an update on the expected timeline of the Tyra Redevelopment Project. The Operator, TotalEnergies, confirms that first gas is expected in March.
28 Feb 24
BW Energy announces fourth quarter and full year results 2023
BW Energy, operator of the Dussafu Marin licence in Gabon and the Golfinho cluster offshore Brazil, reported EBITDA for the fourth quarter of 2023 of USD 133.4 million, up from USD 49.7 million in the third quarter of 2023, due to increased production and liftings.
28 Feb 24
Woodside and KOGAS sign agreement for long-term LNG supply
Woodside has signed a sale and purchase agreement (SPA) with Korea Gas Corporation (KOGAS) for the long-term supply of liquefied natural gas (LNG) to Korea. LNG delivered to KOGAS under the SPA will be sourced from uncommitted volumes across Woodside’s global portfolio, including the Scarborough Energy Project which is targeting first LNG cargo in 2026.
27 Feb 24
Saudi Arabia: Aramco signs procurement agreements worth $6 billion
Aramco has advanced its strategic localization program by signing 40 corporate procurement agreements worth $6 billion with suppliers in the Kingdom of Saudi Arabia. The agreements aim to strengthen Aramco’s domestic supply chain ecosystem, contributing to the Company’s resilience, reliability and ability to meet the evolving needs of its customers.
27 Feb 24
VAALCO Energy confirms media speculation regarding possible acquisition of Svenska
VAALCO Energy notes the recent media speculation in Africa Intelligence and confirms that the Company is in discussions with the owner of Svenska Petroleum Exploration regarding a possible debt-free corporate transaction to acquire Svenska whose primary asset is a 27.39% interest in Block CI-40, offshore Cote d’Ivoire.
27 Feb 24
Saudi Arabia: Aramco adds significant volumes to proven gas and condensate reserves at Jafurah unconventional field
Aramco has added significant volumes to the proven gas and condensate reserves at the Jafurah unconventional field in the Kingdom of Saudi Arabia. The Company has booked 15 trillion standard cubic feet of raw gas and two billion stock tank barrels of condensate as proven reserves at Jafurah.
27 Feb 24
US: BOEM completes environmental analysis for proposed wind project offshore Massachusetts, Rhode Island, and New York
In support of the Biden-Harris administration’s goal of deploying 30 gigawatts of offshore wind energy capacity by 2030, the Bureau of Ocean Energy Management (BOEM) has completed its environmental review of the proposed New England Wind project offshore Massachusetts. BOEM estimates the proposed project would generate up to 2,600 megawatts (MW) of electricity, enough to power more than 900,000 homes with clean, renewable energy.
27 Feb 24
South Korea: Ørsted and Incheon City sign MoU to establish world-class offshore wind power industry in Korea’s Incheon region
Ørsted has signed an MoU with Incheon Metropolitan City, Korea, to cooperate on developing a world-class offshore wind power industry in the region. The aim of the agreement is to establish a successful local wind power industry driven by Ørsted’s 1.6 GW offshore wind project off the coast of Incheon.
27 Feb 24
Congo Brazzaville: Eni celebrates Congo’s first LNG cargo
On the occasion of the first shipment of LNG from the Republic of the Congo, the President of the Republic of the Congo Denis Sassou-N'Guesso, the Chairman of the Board of Directors of Eni Giuseppe Zafarana, and the CEO of Eni Claudio Descalzi celebrated the successful start-up of LNG production in the country.
27 Feb 24
Norway: AkerBP gets go-ahead for production start-up at Hanz
AkerBP has been given the go-ahead for start-up of production on the Hanz accumulation on the Ivar Aasen field in the North Sea. The development solution involves reusing the subsea installations on the Jette field, which was shut down in 2016.
27 Feb 24
TGS releases the FMB Cloud app enabling web-based access to critical subsurface insight
TGS has announced the official release of the FMB Cloud app, marking a fundamental enhancement to its highly respected Facies Map Browser (FMB) platform, which provides geoscientists with a best-in-class standardized and interpreted well dataset. The new, cloud-based architecture provides users a flexible and convenient means to access critical subsurface data from anywhere.
27 Feb 24
UK: Offshore Energies UK launches 2024 industry manifesto: Choose a homegrown energy transition
Offshore Energies UK (OEUK) has published its industry manifesto, showing how a homegrown energy transition built on private sector investment will be good for jobs, economic growth and communities across the UK. This is the exciting opportunity the UK must take, not waste in a general election year.
27 Feb 24
Orcadian Energy announces results for the half year ended 31 December 2023
Orcadian Energy, the North Sea focused oil and gas development company, has announced its unaudited results for the six months ended 31 December 2023.
27 Feb 24
UK: Union Jack Oil announces West Newton drilling update and potential early gas development plan
AIM-listed Union Jack Oil has offered a positive update in respect of planned future drilling and the potential development at West Newton PEDL183, onshore UK in East Yorkshire. Union Jack and its Joint Venture partners at West Newton have embarked on delivering a viable drilling programme, planned to be executed in late 2024, with the potential for an early single gas well development following successful testing.
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