Fossil Energy
Rystad: Guyana’s oil production to generate unprecedented revenues for government
Guyana’s total annual oil revenues could hit $30 billion over the next 10 years with production estimated to reach 1.2 million barrels per day by 2030, according to Rystad Energy.
Shell leases Grupo R rig for Gulf of Mexico operations
Grupo R has signed a contract with Shell for the lease of the La Muralla IV drilling rig to operate in the deep waters of the Gulf of Mexico.
Lower prices curb ConocoPhillips profit
ConocoPhillips posted a smaller profit for the fourth quarter of 2019 compared to the prior-year period due to impairments and lower realized prices and volumes.
Petrobras selling offshore field and blocks in Brazil
Petrobras has started the opportunity disclosure stage for the sale of its entire stake of the Papa-Terra field, located in the Campos Basin, and for the sale of part of its interest in exploratory blocks located in the Pará-Maranhão Basin, off Brazil.
BP profit down on weaker oil and gas prices
Oil major BP saw its quarterly profit drop amid weaker environment despite higher production during the period.
Osbit hired to build new well intervention system
UK-based offshore engineering company Osbit has been awarded a contract to design and construct a new well intervention tower system.
RockRose buys Cotton gas field in North Sea
RockRose Energy has signed a sales and purchase agreement to acquire a 100% of the equity of Speedwell Energy, the holder of 100% interest in the Cotton gas field in the UK sector of the Southern North Sea.
Ocean Infinity forms new unit to operate marine robot fleet
Ocean Infinity, a seabed survey and ocean exploration company, has launched of a new pioneering marine technology and data company named Armada.
Tower begins site survey for well offshore Cameroon
Oil and gas company Tower Resources has started conducting a site survey for a well in the Thali block offshore Cameroon.
Rystad Energy expects further growth in floating rig demand towards 2022
Demand from the world’s top oil companies for floating drilling units is set to rise through 2020 and 2021, according to Norwegian energy research and consultancy firm Rystad Energy.
Tullow sees increase in prospective resources on Guyana block
A new competent persons resource report on the Tullow Oil-operated Orinduik Block, offshore Guyana, has shown a 29% increase in gross prospective resources.
KBR secures work on mega project offshore Abu Dhabi
KBR has been awarded a major project management consultancy (PMC) services contract by Abu Dhabi National Oil Company (ADNOC) for the Ghasha Concession portfolio of projects.
Worley boss set for retirement. COO named as replacement
The chief executive officer (CEO) of Australian engineering company Worley has decided to retire. The company named a replacement, effective February 24, 2020.
Ithaca Energy mulls options for potential IPO
Ithaca Energy, a subsidiary of Israel’s Delek Group, is exploring options to optimize its capital structure, including a potential initial public offering (IPO).