Welligence expects global offshore exploration drilling activity in 2023 to remain relatively steady year-on-year, with the majors driving much of the activity in their core regions. Two areas with big impact potential - the Atlantic Basin and…
Offshore exploration and production (E&P) capital expenditures (capex) will shake off the pandemic-induced declines of the past two years and rebound by 20% in 2022, reaching a total $165 billion spent on exploration, wells, and facilities (Figure 1)…
China's CNOOC Ltd has set its 2023 production target at a record 650 million to 660 million barrels of oil equivalent (boe), about 8% above last year's goal. The state-controlled offshore oil and gas company produced about 620 million boe last year…
Venezuela told judges at the International Court of Justice (ICJ) on Thursday that they should throw out a case filed by Guyana in a long-running border dispute, which could determine which country has rights to offshore oil and gas fields. Guyana…
Frontera Energy Corporation and CGX Energy Inc, partners in the Corentyne block offshore Guyana, have been given more time to drill the Wei-1 exploration well.Under the Corentyne block license terms, the joint venture was previously required to spud Wei-1…
French offshore seismic data company CGG has announced the start of a new Foz do Amazonas 3D seismic reimaging project. This project is meant to support Brazil's Permanent Offer initiative in the Equatorial Margin. Supported by industry funding…
Offshore seismic data companies TGS and CGG on Wednesday announced the second phase of the Foz do Amazonas 3D multi-client survey, located in the offshore Brazil equatorial margin. This survey, covering 11,425 square kilometers, will broaden…
Dutch FPSO systems provider SBM Offshore said Thursday it had signed a memorandum of understanding with ExxonMobil for the supply of another FPSO in Guyana.'The company recently placed an order for a seventh Fast4Ward MPF hull. The construction…
Japanese floating oil and gas production systems provider MODEC has signed a contract to perform Front End Engineering and Design (FEED) for an FPSO vessel for ExxonMobil's “Uaru” oil field development project offshore Guyana.The FEED contract…
Guyana, one of the world's hottest oil drilling zones, will offer 14 offshore exploration blocks under terms that 'significantly' increase its share of oil revenue, the South American nation's vice president said on Thursday. Officials this…
U.S. oil major ExxonMobil has chartered the Subsea Support Vessel (SSV) Maersk Nomad for a minimum one-year contract, supporting its field development activities offshore Guyana.Maersk Nomad will be operating with two ROVs onboard, providing…
Brazilian state-run oil company Petroleo Brasileiro SA is struggling to get a license that it needs to drill the ultra-deep waters of the Foz do Rio Amazonas Basin this year as planned, a source close to the matter told Reuters on Thursday. Petrobras…
ExxonMobil has made two new discoveries at the Yarrow-1 and Sailfin-1 wells on the Stabroek Block offshore Guyana.The discoveries, which are the eighth and ninth this year, will add to the block’s previously announced gross discovered recoverable…
As we enter the final month of 2022, a review of the floating production system (FPS) market revealed that some E&Ps have been bold with investments in the development of their oil and gas (O&G) reserves, with a total of 1.9 mmboepd (1.3 mmbpd of oil and 3…
U.S. oil major ExxonMobil has awarded three-year contracts for two DOF Subsea vessels for work in Guyana, where Exxon has so far made more than 25 oil discoveries, with more than 11 billion barrels of oil found.Under the contracts, DOF Subsea will perform IMR…
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