Offshore Production News

 

China’s CNOOC Brings Bohai Sea Oil Field On Stream

17 hours ago

China's state-owned oil and gas firm China National Offshore Oil Corporation (CNOOC) has started production at Suizhong 36-2 oilfield 36-2 block development project in Bohai Sea.The main production facility is a new unmanned wellhead platform. A total of 21 development wells are planned to be commissioned, including 16 production wells and five water-injection wells, CNOOC said.The project, located in Liaodong Bay in Bohai Sea…

Norway Oil, Gas Production Beats Forecast Despite November Decline

Dec 20, 2024

Norway's combined oil and gas production declined in November from the same month a year earlier but was still 2.6% higher than an official forecast, the Norwegian Offshore Directorate (NOD) said on Friday.Norway is Europe's largest supplier of natural gas and a major producer of oil…

Full Ramp Up of Tyra II Gas Development Hits Another Delay

Dec 19, 2024

BlueNord, the partner in the Tyra II project along with TotalEnergies and Nordsøfonden, has informed that the full ramp-up of the Denmark’s largest offshore gas development has been pushed for three weeks, with the plateu production now expected in the second half of January 2025…

AI & Offshore Energy: The Higher the Stakes, the More Value AI Creates

Dec 18, 2024

Idle time for a drilling rig costs about $250,000 an hour. AI is being embraced across the industry to ensure it doesn’t happen.A while back, an energy major had an unfathomable, intermittent problem with its drilling operations. It was beginning to cost big money…

Oil Climbs After US Crude Stocks Fall

Dec 18, 2024

Oil edged up on Wednesday after a drop in U.S. crude inventories, and as investors eyed a potential interest rate cut by the U.S. Federal Reserve while weighing its projections for 2025.Brent futures were up 62 cents, or 0.85%, to $73.81 a barrel at 10:40 a…

TechnipFMC to Supply Subsea Production System for Shell’s Nigerian Deepwater Project

Dec 18, 2024

Oilfield services company TechnipFMC has secured a contract with Shell’s subsidiary, Shell Nigeria Exploration and Production Company Limited (SNEPCo) to supply its Subsea 2.0 production systems for the Bonga North development offshore Nigeria…

Expro Teams Up with Petrobras for New Well Flowmeter Tech

Dec 17, 2024

U.S.-based oilfield services provider Expro has signed a technology agreement with Petrobras for the development of a new non-intrusive flowmeter for the optimization of production from oil and gas wells.The technology will provide flow rates and identify flow patterns…

Oil Falls as Chinese Demand Sags, Fed Ponders Rate Cut

Dec 16, 2024

Oil futures slipped from the highest levels in several weeks on Monday on weakness in consumer spending in China, which is the world's largest oil importer, and as investors paused buying ahead of the U.S. Federal Reserve's interest rate decision…

Shell to Add Two Wells at GoM Perdido Platform

Dec 12, 2024

Shell said on Thursday its unit has made a final investment decision to add two wells at the Perdido platform in the U.S. Gulf of Mexico to boost production.The Shell unit, which operates the Perdido platform, said the two wells are expected to produce up to 6…

SLB OneSubsea to Deliver Production-Boosting Systems for Petrobras' Búzios Field

Dec 12, 2024

Global energy technology company SLB, through its OneSubsea joint venture, has secured a contract with Petrobras for the delivery of two subsea raw seawater injection (RWI) systems to increase production at the Búzios field, offshore Brazil…

ExxonMobil Aims for 18% Increase in Oil and Gas Output by 2030

Dec 12, 2024

Exxon Mobil said on Wednesday its annual project spending will rise to between $28 billion and $33 billion between 2026 and 2030, with a goal of lifting oil and gas output by 18%.The top U.S. oil producer laid out a five-year plan to expand…

EIA: US Crude Imports to fall to lowest level since 1971

Dec 10, 2024

U.S. net crude oil imports are forecast to fall by 20% next year to 1.9 million barrels per day, their lowest since 1971, the Energy Information Administration said on Tuesday, pointing to higher U.S. production and lower refinery demand.The EIA expects the United States to produce 13…

Equinor Delays Johan Castberg Field Start-Up to Early 2025

Dec 10, 2024

Equinor and its partners Vår Energi and Petoro have postponed the start-up of Johan Castberg field, located in the Norwegian part of the Barents Sea, to January or February 2025 from the initial plan to bring the field on stream by the end of 2024…

TWMA Appoints Group Commercial Director

Dec 09, 2024

Drilling waste management specialist, TWMA, has announced the appointment of Jonathan Parkes as its new Group Commercial Director. This strategic hire comes as the Aberdeen-based company continues to build on a period of rapid international growth and expansion…

Oil Rises as Syria's Assad Departs, China eases Monetary Policy

Dec 09, 2024

Oil prices rose by nearly 2% on Monday on increased geopolitical risk after the fall of Syrian President Bashar al-Assad, and as top importer China flagged its first move towards a loosened monetary policy stance since 2010.Brent crude futures were up $1…

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