The Oil and Gas Climate Initiative (OGCI), an initiative to tackle climate change and backed by 13 oil companies, has launched a new initiative to unlock large-scale investment in carbon capture, use and storage (CCUS).
Offshore Energy Today’s most popular news from the past week.
UAE-based offshore oil rig builder Lamprell has yet to receive a firm order for the construction two jack-up rigs for which it signed a letter of intent in December 2018.
Following a drone attack on the world’s largest oil processing facility owned by state-run Saudi Aramco, Rystad Energy has warned the market not to get too excited about the oil giant’s promise to quickly return to pre-attack production levels.
Saudi Aramco has said the company will return to full production capacity by the end of this month following a drone attack on the world’s largest oil processing facility last Saturday.
Current levels of gas flaring cause more than 300 million tons of CO2 to be emitted into the atmosphere
Italian oil and gas company Eni has started production at the offshore Baltim South West gas field in Egypt.
Oil prices on Monday saw the biggest surge since 1991 following a drone attack on the state-owned Saudi Aramco’s oil processing facility in Saudi Arabia, according to Reuters.
The most popular news of the week.
Liquid production growth for non-OPEC countries reached the highest rate on record in 2018, with a growth of almost 2.9 million barrels per day (bbl/d), according to Rystad Energy.
Lower oil prices will push the global service market into a recession in 2020 after three successive years of growth, according to Norwegian intelligence firm Rystad Energy.
James Fisher Offshore has increased its oil and gas decommissioning activities in the Middle East with a new offshore platform jacket removal project in Saudi Arabia.
French supplier Vallourec has been awarded a contract by Abu Dhabi National Oil Company (ADNOC) for the supply of tubing and casing, over a five year period, with a possible two-year extension, for an amount of $900 million.
Subsea 7 has been awarded a large contract by Saudi Aramco for Marjan Increment Projects – Package 2, offshore Saudi Arabia.
