Ineos Energy has acquired the Gulf of Mexico business held by the US subsidiary of Chinese company CNOOC International Limited.

The deal increases Ineos’ production globally to over 90,000 barrels of oil equivalent per day. These assets in the Gulf of Mexico are the third major investment by the company in the USA, in the past three years, following the 1.4 mtpa LNG deal completed with...

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Australian engineering and professional services company Worley will provide reimbursable engineering, procurement and construction (EPC) services to U.S. energy major ExxonMobil for the enabling works, infrastructure and interconnects scope of the latter’s planned low-carbon hydrogen and ammonia facility in Baytown, Texas.

As disclosed, the contract is subject to the final investment decision (FID), as well as supportive government policy and necessary regulatory permits.

Chris Ashton, CEO of Worley, stated: “We are delighted to continue our strategic, global relationship with ExxonMobil in its execution of upcoming...

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W&T Offshore, an independent driller operating in the U.S. Gulf of Mexico, has asked a federal judge to block insurance companies’ demands for $250 million in additional collateral for taking apart old oil infrastructure.

The offshore drilling industry faces mounting pressure to provide bonds for decommissioning oil and gas infrastructure in federal waters. The Federal Bureau of Ocean Energy Management (BOEM) in June enforced a final...

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From its vast offshore oil and gas resources to its growing commitment to renewable energy, Australia is unquestionably one of the world’s most exciting and dynamic energy markets. It is already a sectoral heavyweight, ranking among the world’s biggest exporters of energy, including coal and liquefied natural gas (LNG), with net exports equating to over two-thirds of domestic production.

Given its criticality to the economy, it is only natural that Australia is seeking to maximise its wealth of offshore oil and gas reserves and, as such, it is home to some of the most extensive subsea developments and longest tiebacks in the...

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Green Volt set to unlock £2.5 billion of private investment and create up to 2,800 jobs

16 December 2024: The pioneering floating offshore windfarm Green Volt, based off the Northeast coast of Scotland, has awarded front-end engineering and design (FEED) Phase 1 contracts to two sets of leading engineering companies:

• Aker Solutions and ABB
• Aibel and Hitachi Energy

Green Volt, which will be located 80 miles off the Scottish coast, was successful in winning a UK Government Contract for Difference (CfD) in September this year and is the first major commercial floating wind development in Europe. The CfD puts it on track to become the world’s largest floating offshore windfarm with a...

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UK supply chain companies looking to develop future opportunities in the offshore wind sector can apply from today (Monday, 16 December 2024) to secure a place on Launch Academy – the award-winning technology acceleration programme from the Offshore Renewable Energy (ORE) Catapult.

Launch Academy is an industry-recognised mentoring and business support programme designed to help early-stage companies with innovative, near-to-market products and services to progress in the offshore wind supply chain. Wraparound support comprises targeted technology development, business growth and...

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Shell Offshore, a subsidiary of the UK-headquartered energy giant Shell, has greenlighted another multi-well development project to enrich oil production from an asset lying in a water depth of about 2,450 meters (approximately 8,000 feet) in the U.S. Gulf of Mexico (GoM), said to represent the world’s deepest floating oil platform.

With a final investment decision (FID) for the Phase 3 Silvertip project, Shell will embark on a two-well campaign to deliver two wells designed to boost production at its operated Perdido spar within Alaminos Canyon around...

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Pantheon Resources plc, the oil and gas company developing the Kodiak and Ahpun oilfields in close proximity to pipeline and transportation infrastructure on Alaska’s North Slope, has announced the Megrez-1 well as a discovery in the eastern topsets in the Ahpun field. The well has reached Target Depth (TD) and the Company has run 5.5 in. production casing in anticipation of long-term testing commencing early 2025.

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Argentina is on the brink of solidifying its position as one of South America’s top crude oil producers thanks to the burgeoning shale-drilling activities across its vast Vaca Muerta region. This rise is set against the backdrop of increasing operational support from the newly elected government under President Javier Milei, who has embraced business-friendly policies aimed at energizing the sector. It’s not just political rhetoric; the tangible impacts of these policies are evident as drilling activity accelerates.

The Vaca Muerta basin, located primarily within the Neuquén Province, is one of the largest shale oil and gas reserves not only in Argentina but also globally. Recent statistics indicate this region currently accounts for about 60 percent of the country’s crude production. If current trends continue, Argentina is poised to...

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Shell plc, a British multinational oil and gas company headquartered in London, has announced that its units in Nigeria awarded remarkable $1.98 billion worth of contracts to Nigeria’s companies in 2023. This figure represents a 3% increase compared with 2022, marking a steady commitment by the British oil giant to foster local business development and strengthen its operations in the nation of West Africa.

The key entities behind these significant contract awards were the Shell Petroleum Development Company of Nigeria Ltd. (“SPDC”), Shell Nigeria Exploration and Production Co. Ltd. (“SNEPCo”) and Shell Nigeria Gas. The contracts cover...

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