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22 Jan 24
Egypt: United Oil & Gas receives Notice of Default from the Operator of the Abu Sennan Concession
United Oil & Gas has received a default notice from Kuwait Energy Egypt for outstanding cash calls in relation to the Abu Sennan concession.
22 Jan 24
Norway: Var Energi drills dry wells in the Balder Area
Vår Energi has confirmed drilling operations on the exploration wells targeting the Hubert and Magellan prospects in PL 917 has been concluded. No producible reservoir was observed, and the wells are classified as dry and will be permanently plugged and abandoned.
22 Jan 24
UK: Equinor’s first commercial battery storage asset begins operations
The Blandford Road battery storage asset in the UK has come into operation. The operational phase marks an important milestone in Equinor’s ambition of delivering flexible power solutions in the country. The 25 MW/ 50 MWh Blandford Road battery storage asset is fully owned by Equinor. It was developed and will be operated by the British battery storage company Noriker Power in which Equinor owns a 45% equity share.
22 Jan 24
Norway: Equinor drills discovery near the Munin field in the North Sea
Equinor has discovered oil in exploration well 30/12-3 S in the North Sea. The well also included a sidetrack, 30/12-3 A, which was dry. The well was drilled by Equinor on behalf of Aker BP, the operator of production licence 272 B. Preliminary calculations show that the discovery is not profitable with current price assumptions and the well has been permanently plugged and abandoned.
22 Jan 24
Jamaica: United Oil & Gas provides update on Walton Morant Licence offshore Jamaica
United Oil and Gas has announced that the terms for a two-year extension to the Initial Exploration Period of the Walton Morant Licence in Jamaica have been agreed. The Company is continuing its farm-out campaign, seeking a strategic partner to drill the Colibri prospect - estimated to hold unrisked mean prospective resources of 406 million barrels.
22 Jan 24
South Africa/Guyana: Eco (Atlantic) announces sale of Block 3B/4B interest to Africa Oil and provides Orinduik License operational update
Eco (Atlantic) receives approval for sale of South Africa Block 3B/4B interest to Africa Oil Corp and provides operational update on Orinduik License, offshore Guyana.
22 Jan 24
Falklands: Rockhopper Exploration provides update on Sea Lion Development plan
Rockhopper Exploration has provided an update on the Sea Lion Development plan in the Falklands. Operator Navitas Petroleum is targetting Sea Lion phase 1 Final Investment Decision ('FID') in 2024 and first oil at the end of 2026.
22 Jan 24
Libya's National Oil Corporation lifts force majeure and resumes full production from Al Sharara field
Libya's National Oil Corporation has lifted force majeure and resumed full production from the Al Sharara field. Libya's NOC had declared force majeure on the Sharara oil field effective January 7th, 2024, due to it's closure by protesters.
22 Jan 24
Equatorial Guinea: Panoro Energy provides update on Equatorial Guinea infill drilling campaign
Panoro Energy has provided an update on operations offshore Equatorial Guinea. At Block G the planned three-well infill drilling campaign has commenced utilising the Island Innovator semi-submersible drilling rig. Following completion of the Block G infill drilling campaign, the Island Innovator rig will relocate to Block S where it will drill the Kosmos Energy operated Akeng Deep infrastructure-led exploration ('ILX') well.
22 Jan 24
bp awards a new global framework agreement to Worley
bp has awarded Worley a new five-year global framework agreement. Under the agreement, Worley will provide engineering, procurement, and construction management (EPCM) services covering bp’s global refinery assets and new energy portfolio including strategic projects in green and blue hydrogen, lower carbon fuels and sustainable aviation fuels.
22 Jan 24
Canada: Chevron to sell Duvernay shale assets
Chevron has said it will put its natural gas business in Canada's Duvernay Shale for sale as it continues to streamline global operations following several big acquisitions. The assets could fetch up to $900 million.
22 Jan 24
Germany: RWE commissions innovative agrivoltaics demonstration plant
With crops below and solar power above, RWE’s agrivoltaics (Agri-PV) plant in Germany has now started supplying green electricity into the grid after a construction period of just five months. The new demonstration plant was built on about seven hectares of recultivated land at the edge of the Garzweiler opencast mine, in North Rhine-Westphalia.
22 Jan 24
UK: Carbon capture and clean hydrogen technology will drive growth and generate jobs on Humberside – Ofgem CEO
Tens of thousands of new jobs across Britain must be created across the country to underpin the growth of the carbon capture and storage industry, according to Ofgem CEO Jonathan Brearley. Speaking after visits to CCS Teesside and Humberside regions on 16 January, he said decarbonising heavy industry, like steel, cement and refineries, hydrogen production and power plants needed a new generation of clean jobs.
22 Jan 24
Reach Subsea expands orderbook with several contract awards
Reach Subsea continues to increase order backlog after securing multiple new contracts, contract extensions and Call-offs within the scope of our existing frame agreements in the North Sea and the Americas region.
22 Jan 24
Woodside provides $12.5 million to support Rice University-led project to advance decarbonisation
Rice University and Woodside Energy have announced a ground-breaking five-year technology collaboration aimed at reducing greenhouse gas emissions and providing lower carbon solutions. Woodside will provide $12.5 million to fund the creation of the Woodside-Rice Decarbonisation Accelerator, an initiative that aims to bring breakthrough decarbonisation technology from the Rice labs to market.
22 Jan 24
SLB announces Q4 and full-year 2023 results
SLB has announced results for the fourth-quarter and full-year 2023. The Company concluded a remarkable year marked by widespread revenue growth, margin expansion, and exceptional free cash flow. Year on year, SLB grew revenue and EBITDA 18% and 25%, respectively, and delivered $4.0 billion of free cash flow.
19 Jan 24
Coretrax acquires well technology and secures fresh deals
Coretrax, a global leader in oil and gas well integrity and production optimisation, has strengthened its well intervention capabilities after acquiring a complementary suite of technology from Wireline Drilling Technologies.
19 Jan 24
Kazakhstan: Eni signs strategic agreements with Kazakh companies during the official visit of the President of Kazakhstan Tokayev to Italy
Eni CEO and Chairman of KMG signed a Joint Confirmation agreement on an innovative 250 MW Hybrid Renewables-Gas Project in Kazakhstan. Eni also signed a Memorandum with Sovereign Wealth Fund Samruk-Kazyna on additional energy transition projects and Cooperation Agreement with QazaqGaz.
19 Jan 24
UK: Deltic Energy provides Pensacola update and results of Competent Person's Report
Deltic Energy, the AIM-quoted natural resources investing company with a high impact exploration and appraisal portfolio focused on the Southern North Sea, has presented the results of a Competent Person's Report (CPR) in relation to the Pensacola Discovery on Licence P2252 in the Southern North Sea in which Deltic holds a 30% interest.
19 Jan 24
Italy: Prospex Energy provides Selva field development update
Prospex Energy has provided an operational update from the Podere Maiar-1 ('PM-1') well site of the Selva field, which is operated by Po Valley Operations, a wholly owned subsidiary of Po Valley Energy.
19 Jan 24
Gas and LNG: global and regional predictions for 2024 - Wood Mackenzie
What does 2024 hold for the global gas and LNG industry? Will it be another disappointing year for demand? What’s the outlook for prices? Is an LNG shipping oversupply on the cards? Can investments in new LNG projects hold their pace – and who will be driving the deals? Wood Mackenzie tackles these questions and more in Global gas and LNG: 5 things to look out for in 2024.
18 Jan 24
Turkey: Trillion Energy provides operational update for SASB gas field
Trillion Energy International has provided an operational update and reiterated its production guidance for the SASB gas field issued on September 25, 2023 subject to revised timing to facilitate evaluation of alternative pump types and installation.
18 Jan 24
Iraq: Vallourec to support multi-energy project for TotalEnergies in Iraq
Vallourec, a world leader in premium tubular solutions, has signed a contract with TotalEnergies for the supply of casing and tubing and associated accessories for the first phase of the Gas Growth Integrated Project (GGIP) in Iraq. The GGIP includes the recovery of gas currently being flared in the Basra region to supply power plants, along with the construction of a seawater treatment unit and a 1GW solar power plant.
18 Jan 24
US: Zenith Energy provides update on US portfolio
Zenith Energy, the listed international energy production and development company with a focus on opportunities in Central Asia and the US, has provided an update regarding the development of Cyber Apps World Inc, a U.S. listed company of which Zenith acquired majority control by way of a Securities Purchase Agreement in August 2023, and the Company's previously announced business development activities in the US.
18 Jan 24
Magnora separates its legacy business from its renewables business
During 2023, Magnora's renewable business shifted gears with considerable growth in profits. Consequently, the rationale of keeping legacy revenues linked to the FPSO business in the same entity as the renewables business is no longer present. On 18 January, the board of Magnora approved a plan to establish a separate entity for Magnora's Legacy Business.
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