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09 Mar 23
UK: Kerogen Capital invests in GEL, the UK’s leading geothermal player
Kerogen Capital has announced its investment into Geothermal Engineering Limited (GEL), the UK’s leading geothermal player to expand the development of deep geothermal electricity and heat production. Investment from Kerogen Capital into GEL will fund UK’s first deep geothermal plant at United Downs site in Cornwall.
08 Mar 23
Argentina: Vestas partners with Pampa Energia to build a 95 MW wind park in Argentina
Vestas has secured a 95 MW order with Pampa Energía for the Pepe VI project in the Province of Buenos Aires, in Bahía Blanca, in Argentina. Turbine delivery is planned for the fourth quarter of 2023, whilst commissioning is expected for the second quarter of 2024.
08 Mar 23
Iraq: LUKOIL receives approval of Declaration of commerciality for Eridu field reserves
LUKOIL and INPEX South Iraq have received approval from Iraqi state-owned Thi-Qar Oil Company (TOC) for Declaration of Commerciality of Reserves and Outline Development Proposal for Eridu oil field located within Block 10 in Iraq. Eridu has estimated reserves of 12.9 billion barrels.
08 Mar 23
Colombia: Alliance between Ecopetrol, Baker Hughes and CHEC to foster the use of geothermal energy in Colombia
Ecopetrol, Baker Hughes and the hydroelectric power plant CHEC of Grupo EPM have signed a memorandum of understanding for the structuring of feasibility studies to implement a geothermal power generation project in the Nereidas Valley, located in the department of Caldas. The initiative seeks to generate between 50 and 100MW of renewable energy.
08 Mar 23
US: Vestas secures 56 MW order in the USA
Vestas has received a 56 MW order from RPM Access to power the Prescott wind project in Iowa, USA. Turbine delivery begins in the fourth quarter of 2023 with commissioning scheduled for the first quarter of 2024.
08 Mar 23
South Korea: Shearwater GeoServices awarded 3D towed streamer survey for KNOC in South Korea
Shearwater GeoServices has announced the award of a 3D streamer survey by Korea National Oil Corporation (KNOC) off the coast of South Korea.
08 Mar 23
Australia: Norwest Energy provides update on the Lockyer Project in EP368 and EP426
Norwest Energy has advised that the 385 km2 Rococo 3D seismic acquisition program has now been completed. The Ensign Rig 970 has mobilised to the Lockyer-2 well location and joint venture operator Energy Resources has advised that spudding of Lockyer-2 is expected to occur within the next week.
08 Mar 23
Norway: Equinor granted drilling permit for well 31/2-23 S and 31/2-23 A in PL 923
The Norwegian Petroleum Directorate (NPD) has granted Equinor a drilling permit for well 31/2-23 S and 31/2-23 A in PL 923.
08 Mar 23
US/Australia: Chevron and JERA sign MOU to explore carbon capture and storage projects in United States and Australia
Chevron and JERA have signed an MOU that provides a framework for their collaboration on carbon capture and storage (CCS) projects located in the United States and Australia. The MOU has the potential to expand the significant liquid natural gas (LNG) relationship that Chevron and JERA have today.
08 Mar 23
UK: Angus Energy announces Saltfleetby drilling and operations update
AIM-listed Angus Energy has announced that the second compressor is now fully commissioned and processing gas for export. Well completion continues on the sidetrack well SF7V with clean-up work awaiting coiled tubing due late March.
08 Mar 23
Tullow Oil announces its full year results for the year ended 31 December 2022
2022 saw Tullow successfully deliver against its business plan. A high focus on cost control and a disciplined approach to operational efficiency has driven a very strong performance for the year, with group production in line with guidance and expectations, delivering free cash flow of $267 million, lowering net debt to $1.9 billion and reducing cash gearing to 1.3x net debt to EBITDAX.
08 Mar 23
Trinidad: Challenger Energy provides update on sale of Cory Moruga
Challenger Energy has updated that, further to entry into a binding term sheet with Predator Oil & Gas Holdings as announced on 20 December 2022, Predator has now completed all confirmatory due diligence and the Company and Predator have entered into fully-termed long-form legal documentation.
08 Mar 23
UK: Deltic Energy releases new Corporate Presentation
Deltic Energy has released a new corporate presentation. The presentation reflects recent developments, with particular focus on the significant gas and oil discovery at Pensacola on Licence P2252 in the Southern North Sea.
08 Mar 23
Morocco: Chariot announces completion of FEED for Morocco offshore gas development Project
AIM-listed Chariot, the Africa focused transitional energy company, has announced that it has now completed the Front-End Engineering and Design ('FEED') on the key components of its flagship Anchois gas development project, offshore Morocco.
08 Mar 23
US: Zephyr Energy provides Paradox project update
AIM-listed Zephyr Energy, the Rocky Mountain oil and gas company, has provided an update on operations on the State 36-2 LNW-CC well and the State 16-2 LN-CC well at the Company's flagship project in the Paradox Basin, Utah, U.S.
08 Mar 23
Westwood Insight - Buyer beware when it comes to exploration farm-outs
Since 2017 high impact (HI) exploration wells drilled outside USA and Canada, where equity was farmed-out by one or more of the participants before drilling, had approximately half the commercial success rate and median discovery size than those wells that were not farmed-out.
08 Mar 23
GoM: Seadrill announces West Neptune extension
Seadrill has announced that the West Neptune has executed approx. six months of term extensions with LLOG Exploration Offshore in the US Gulf of Mexico. Total contract value for the extension is approx. $79 million.
08 Mar 23
Australia: 3D Oil has announced an upgrade to the VIC/P79 prospective resources
3D Oil has announced an upgrade to the VIC/P79 prospective resources released to the market on 8th June 2022 and the inclusion of several new leads, having progressed subsurface maturation efforts.
07 Mar 23
Italy: Eni completes the installation of ISWEC (Inertial Sea Wave Energy Converter) off the coast of Pantelleria
Eni has completed the installation of the world's first ISWEC (Inertial Sea Wave Energy Converter) device connected to the electricity grid of an island. The device developed by Eni, the Politecnico di Torino and Wave for Energy, will convert energy from sea waves to directly supply the island with renewable electricity.
07 Mar 23
UK: Mermaid Subsea awarded major 22 well decommissioning contract
Mermaid Subsea Services UK has announced the award of a major multi-well contract, to be carried out on behalf of a North Sea operator. Accounting for the creation of up to 12 new roles at Mermaid’s Aberdeen headquarters, the two-year contract will comprise the decommissioning of 22 wells and represents the integrated subsea provider’s largest contract to date.
07 Mar 23
US: 1PointFive and the Houston Astros announce Direct Air Capture Carbon Removal Credit Agreement
1PointFive, a carbon capture, utilization and sequestration company, and the Houston Astros, have announced the team has agreed to purchase carbon dioxide (CO2) removal credits from 1PointFive’s Direct Air Capture (DAC) plant under construction in Ector County, Texas.
07 Mar 23
Baker Hughes and HIF Global to collaborate on Direct Air Capture technology
Baker Hughes and HIF Global, the world’s leading eFuels company, have announced their agreement to cooperate on the development of technology to capture carbon dioxide directly from the atmosphere ('CO2 Direct Air Capture' or 'DAC'). HIF Global and Baker Hughes intend to test Baker Hughes’ Mosaic DAC technology pilot units to accelerate DAC deployment at commercial scale.
07 Mar 23
Solstad Offshore exits from PSV segment through a strategic sale of its PSV-fleet
Subsidiaries of Solstad Offshore have signed an agreement with U.S. based Tidewater Inc. for the sale of 37 platform supply vessels (the 'PSV Fleet'). The total cash consideration payable for the PSV Fleet is approx. USD 577 million.
07 Mar 23
Nigeria: San Leon Energy comments on removal of Eroton as operator of OML 18
San Leon has commented on the statement on the Nigerian Petroleum Development Company ('NNPC') website that indicates that the non-operating partners of OML 18 have removed Eroton as operator of OML 18 on the basis of, amongst other things, zero production from the field at present. San Leon currently holds an initial 10.58% indirect economic interest in OML 18 which is unaffected by the identity of the operator.
07 Mar 23
Aquadrill announces contract award for the Capella
Aquadrill and a subsidiary of Vantage Holdings International have reached an agreement to provide the Capella, an MPD outfitted 6th generation drillship, for a one well contract for operations in East Africa.
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