Masirah Oil has started drilling a second development well in the Yumna field located offshore Oman, using the Shelf Drilling-owned Tenacious jack-up rig.
The world is on track to run out of sufficient oil supplies to meet its needs through 2050 unless exploration speeds up, Rystad Energy reveals.
Brent crude oil prices reached highest levels since March as news of another promising coronavirus vaccine raised hopes of a quicker recovery in oil demand, while U.S. President-elect Joe Biden received the go-ahead to begin his leadership transition.
Investments from global E&P in 2021 are projected to reach around $380 billion, almost flat year-on-year, a Rystad Energy report shows.
The Organization of the Petroleum Exporting Countries (OPEC) has lowered its 2020 oil demand forecast to negative -9.8 million barrels a day.
Despite concerns that Covid-19 could drive down discovered volumes to their lowest levels in decades, exploration activity has been resilient this year with discovered resources set to hit 10 billion boe in 2020.
Heerema Marine Contractors’ heavy lift vessel Aegir has completed the installation of North Oil Company’s Al-Shaheen Gallaf 1 Project offshore Qatar.
Energy intelligence firm Rystad Energy believes that if Trump should win it may make oil prices great again while Biden effect is more mixed.
The Covid-19 pandemic and energy transition are expected to expedite peak oil demand to 2028 and cut demand levels to 102 million bpd, according to Rystad Energy.
An analysis by Rystad Energy has revealed that one quarter of the global floater rig fleet could be scrapped as the Covid-19 pandemic accelerates restructuring in the offshore drilling market.
Oil major BP has started gas production from its latest development offshore Egypt – the Qattameya gas field in the North Damietta offshore concession.
Oil production costs have reached a new low, making deepwater one of the cheapest sources of new supply, according to Rystad Energy.
Seismic exploration company Shearwater GeoServices has landed a deal for large 3D seismic acquisition and depth processing. According to the company, the work scope is in the Europe, Africa and Middle East (EAME) region. The survey, for an undisclosed national oil company, should take six months to
Northern Offshore’s drilling rig Energy Enticer has started drilling operations with Qatargas.
