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13 May 24
Turkey: Subsea Integration Alliance awarded contract offshore Türkiye
Subsea 7 has announced the award of a large contract by Turkish Petroleum Offshore Technology Center AS (TP-OTC) relating to the Sakarya field development in the Black Sea, offshore Türkiye.
10 May 24
Australian government declares gas to be essential until 2050 and beyond
Australia's Future Gas Strategy (FGS) highlighted a commitment for Australia to remain a reliable trading partner for liquefied natural gas (LNG), while underscoring the role of gas in Australia's energy mix until 2050 and beyond, according to Wood Mackenzie. This strategy may lower perceptions of 'sovereign risk' for investors.
10 May 24
UK: Up to £3bn of emissions reduction schemes proposed by North Sea operators
North Sea oil and gas operators could invest up to £3 billion in 14 major projects capable of cutting up to 32 million tonnes of lifetime CO2e emissions from their production activities. The projects – highlighted at the North Sea Transition Authority’s (NSTA) annual performance review of the UK’s top 20 operators – involve using low-carbon power on platforms, installing technologies designed to eliminate routine flaring and venting, and hydrogen.
10 May 24
Namibia: 2D seismic acquisition program awarded for Namibian PEL 93 acreage
88 Energy has announced the awarding of the 2D seismic data acquisition program for PEL 93 to Polaris. This program is set to acquire a minimum of ~200-line km of low-impact 2D seismic.
10 May 24
Tanzania: Aminex provides update on Ntorya to Madimba Pipeline
Aminex has announced that during a recent operations meeting in Muscat, Oman with ARA Petroleum Tanzania (APT) and Aminex, the Tanzania Petroleum Development Corporation (TPDC) updated the joint venture partners on its progress to construct a pipeline spur from Ntorya to the Madimba gas processing plant.
10 May 24
US: Ascent Resources provides update on US gas and helium investment
Ascent Resources has announced, further to its investment into GNG Partners, which owns the 60MMscfd Lisbon Valley gas and helium processing plant in Utah USA, that GNG have provided the Company with an operational update. The Lisbon Valley plant is now on track to have the 550Mscfd helium liquidation unit recommissioned and in operational working order by the end of this calendar year.
10 May 24
PGS is awarded a 4D contract in West Africa
PGS has been awarded a 4D contract in West Africa for an international energy company. Mobilization is scheduled for early September. The contract has a total duration of approx. 65 days, with an option to extend.
10 May 24
Panoro Energy announces trading statement and operations update
Panoro Energy has provided an update in advance of its Q1 2024 results which are scheduled for release on 23 May 2024. Production performance is in Q1 is in line with previously communicated guidance, reflecting the good progress the Company is making towards growth targets and delivery of sustainable and material shareholder returns.
10 May 24
Gabon: Panoro Energy confirms oil at Hibiscus South Extension
Panoro Energy has announced that the DHBSM-2P pilot well has successfully encountered oil and confirmed a north-eastern extension of the Hibiscus South field at the Dussafu Marin Permit offshore Gabon, further increasing recoverable reserves.
10 May 24
Spain: Exus acquires 51MW Spanish wind farm from Grupo Enhol
Exus Renewables, a premier independent power producer and asset management firm specialising in the renewable energy sector, has announced the acquisition of a 51-megawatt wind farm located in the north of Spain, from independent Spanish company Grupo Enhol.
09 May 24
James Fisher completes its largest decommissioning project to date
James Fisher has completed critical decommissioning operations offshore in the Gulf of Thailand as part of a major offshore operator’s wider asset end-of-life campaign.
09 May 24
Nigeria launches 2024 Licensing Round at OTC 2024
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) on Tuesday, May 7, announced the commencement of the 2024 Licensing Round at the on-going Offshore Technology Conference in Houston, Texas.
09 May 24
Australian Government announces Future Gas Strategy
The Australian Government has released a medium and long-term strategy that establishes the role gas will play in the transition to net zero by 2050, securing affordable gas for Australia as it moves to a more renewable grid, and confirming its commitment to being a reliable trading partner.
09 May 24
US: Equinor enters partnership with Standard Lithium
Equinor has entered into an agreement with Standard Lithium to acquire a 45% share in two lithium project companies in Southwest Arkansas and East Texas. Lithium is an essential mineral in the energy transition and is required to meet the projected growth in electric vehicles and broader battery energy storage.
09 May 24
CGG launches AI cloud solution powered by NVIDIA for optimized AI and HPC workloads
CGG, a global technology and HPC leader, has announced the launch of its AI Cloud solution, designed to meet the needs of data-intensive industries, including life sciences, digital media, manufacturing and geoscience, that seek to optimize and accelerate their demanding and resource-heavy AI workloads.
09 May 24
Oman: CB&I awarded contract by TotalEnergies and OQ for full containment liquefied natural gas tank in Oman
CB&I, a wholly owned unrestricted subsidiary of McDermott, has been awarded a significant contract by Marsa Liquefied Natural Gas, a joint venture between TotalEnergies and OQ for the engineering, procurement, construction (EPC) of a full containment concrete liquefied natural gas (LNG) storage tank, located in Oman's Port of Sohar.
09 May 24
Valeura Energy announces Q1 2024 results
Valeura Energy, the upstream oil and gas company with assets in the Gulf of Thailand and the Thrace Basin of Türkiye, reports its unaudited financial and operating results for the three month period ended March 31, 2024.
09 May 24
Wood Group announces trading update Q1 2024
John Wood Group has announced a trading update for the quarter ended 31 March 2024. Wood is in the second year of its growth strategy and is making good progress, with EBITDA growth, margin expansion and an order book 9% higher than a year ago.
09 May 24
Harbour Energy announces trading and operations update
Harbour Energy has provided an unaudited Trading and Operations Update for the first quarter of 2024. During the first quarter, Harbour continued to maximise the value of its UK production base and advance its organic growth projects. At the same time, the Company made significant progress towards completion of the Wintershall Dea acquisition.
09 May 24
Iraq: Genel Energy announces trading and operations update
Genel Energy has issued a trading and operations update relating to Q1 2024. The Company reports gross production of 76,310 bopd in Q1 2024 (65,770 bopd in Q4 2023), all from the Tawke licence, where local sales demand remains robust, with net production of 19,080 bopd in Q1 2024 (16,440 bopd in Q4 2023).
09 May 24
Congo Brazzaville: PetroNor E&P confirms USD 48.3 million cash sale of PNGF Sud oil
PetroNor E&P confirms that 583,695 bbls of oil were lifted and sold from the Djeno Terminal to ADNOC, the National Oil Company of Abu Dhabi in May 2024, generating a cash inflow of USD 48.28 million at a realised price of USD 82.71 per barrel.
08 May 24
Peru: PetroTal announces strategic acquisition of Block 131 in Peru
PetroTal has announced the execution of a definitive agreement to acquire a 100% working interest in Peru Block 131, including the producing Los Angeles field, through the acquisition of CEPSA Peru, which represents the entire Peruvian business unit of CEPSA, for a purchase price of approx. $5.0 million in cash.
08 May 24
UAE: ADNOC signs third long-term Heads of Agreement for Ruwais LNG Project
ADNOC has announced the signing of a 15-year Heads of Agreement (LNG agreement) with EnBW Energie Baden-Württemberg AG (EnBW), one of the largest energy companies in Germany, for the delivery of 0.6 million metric tonnes per annum (mmtpa) of liquefied natural gas (LNG).
08 May 24
Sidara announces response to statement by John Wood Group regarding possible cash offer to acquire Wood
Sidara notes the announcement made by Wood and confirms that on 30 April 2024 it submitted a proposal to Wood regarding a possible cash offer to acquire the entire issued and to be issued ordinary share capital of Wood of 205 pence for each Wood share. This non-binding proposal was rejected by Wood on 8 May 2024 and Sidara is considering its next steps.
08 May 24
Wood Group responds to speculation regarding an unsolicited possible cash offer for the Company
The Board of Wood notes recent speculation and confirms that it received an unsolicited, preliminary and conditional proposal from Dar Al-Handasah Consultants Shair and Partners Holdings ('Sidara'), regarding a possible cash offer to acquire the entire issued and to be issued ordinary share capital of Wood.
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