Offshore

ExxonMobil Faces October 2024 Deadline To Develop ‘Large’ Natural Gas Discovery Offshore Guyana

The government has been pressing for a bonanza from mostly untapped gas reserves found by the Exxon-led group. The consortium, which includes Hess Corp and CNOOC Ltd, is required under its production agreement to return to the government by October about 20% of its massive Stabroek block if that area remains undeveloped.

Saipem Wins $850 Million Offshore Contract for Ndungu Field Project in Angola

Under the contract, Saipem will undertake the engineering, fabrication, transportation, and installation of approximately 37 miles of rigid pipelines and subsea facilities at a depth of around 1,100 meters.

Subsea Decommissioning Pays Off in North Sea

The ambitious project involved the removal of pipelines, control umbilicals and various other subsea structures from the seabed in water depths of up to 590 feet (180 meters), each requiring precise and efficient cutting.

Chevron Prepares for North Sea Exit After More Than 55 Years

Chevron said it is set to launch the sale of its remaining U.K. North Sea oil and gas assets, in a move that would mark the U.S. energy giant's exit from the ageing basin after more than 55 years.

Energy Transfer Eyes Draft Environmental Statement for Blue Marlin Project This Quarter

Pipeline operator Energy Transfer expects to receive a draft Environmental Impact Statement for its Blue Marlin offshore terminal this quarter, executives said on Wednesday during a quarterly earnings call.

DNV Releases New Standard for Hybrid Thermoplastic Composite Flexible Pipes

DNV has introduced its latest standard, DNV-ST-F207, for hybrid thermoplastic composite flexible pipes, addressing challenges faced by conventional risers in deepwater applications.

NOV Introduces Breakthrough Heated Flexible Pipe System for Subsea Operations

NOV will supply its first active heated pipe system in 2025, introducing a proprietary technology solution of electrically heating the bore of the pipe through the resistance of the pipe’s inner carcass layer.

Exxon to Temporarily Shut Guyana Platforms for Pipeline Connection

The 140-mile (225-km) pipeline will feed Guyana's $1.9 billion gas-to-power project aimed at ending the country's dependence on imported fuels and at lowering energy costs for residents.

NAMCOR Partners with Chevron for Offshore Block Development in Namibia

Namibia's national oil company has signed a development deal with Chevron that will see the U.S. oil major take an 80% operating working interest in an offshore block in the Walvis Basin, NAMCOR said on Monday.

Uncertainty Clouds EastMed Gas Pipeline Project Timeline, Stakeholders Say

The timeline for a proposed 1,240-mile subsea pipeline connecting East Mediterranean gas reserves to Greece via Cyprus and Crete remains uncertain as stakeholders are reviewing its economic feasibility, delegates from Cyprus and the East Mediterranean Gas Forum (EMGF) said.

Exxon Misses Q1 Profit Estimates Despite Guyana Gains

Exxon Mobil Corp. on Friday missed analysts' estimates with a 28% year-on-year drop in first quarter profits as weaker refining margins and lower natural gas prices offset volume gains.

Portugal's Galp Estimates 10 Billion Barrels of Oil in Field Offshore Namibia

Portuguese oil company Galp Energia said on Sunday it had concluded the first phase of exploration in the Mopane field off the coast of Namibia and estimated it could have at least 10 billion barrels of oil.

Deepwater Port Struggles for Customers as Shale Oil Gains Slow

As U.S. shale oil boomed last decade, an oil pipeline company pitched an ambitious multi-billion-dollar export port off the Texas coast to ship domestic crude to buyers in Europe and Asia.

Offshore Innovation Seen as Key to Overcoming Obstacles

(P&GJ) – As the offshore oil and gas sector enters the second quarter of the year, Europe will continue to be the biggest market for global offshore pipeline construction and related work.

Offshore Developments: Exxon's Guyana Gas Plans, LNG Capacity Boost, and More

(P&GJ) — Explore the latest offshore developments, including Exxon's considerations for Guyana gas production post-2029, increased LNG regasification capacity, Venezuela's licensing plans with Trinidad and Shell, New Fortress Energy's onshore complement to an offshore project, and Sulmara's refit for renewable energy contracts.

Mexico's Pemex to Hand Over Natural Gas Project to Business Magnate, Report Says

Mexican state oil firm Pemex has agreed to hand over control of its Lakach natural gas project in the Gulf of Mexico to Grupo Carso, a company belonging to Mexican billionaire Carlos Slim, El Heraldo columnist Dario Celis reported on Thursday.

Mexican Pemex Crude Output Reduced After Platform Fire, Source Says

Mexican Pemex crude oil production is down some 20,000 barrels per day following a fire at an offshore platform on Saturday that left several injured and at least one dead, a source at the state energy company said.

Occidental to Resume GoM Production Following Temporary Shutdown Due to Oil Spill

Occidental Petroleum said on Wednesday production is expected to commence in the coming days in the eastern Gulf of Mexico (GoM) after some operations were shut for about five months.

Chevron Hands Over Stake in Myanmar Gas Field to Junta, PTTEP

U.S. energy company Chevron has quit the Yadana natural gas field in Myanmar, a spokesperson said on Monday, more than two years after it condemned violence and human rights abuses there and announced it would leave.

TotalEnergies Delays Final Investment Decision for Papua LNG Project to 2025

French oil and gas giant TotalEnergies on Monday said a planned new LNG project in Papua New Guinea would require 'more work' before a final investment decision could be reached.

Enterprise Products Partner's Texas Gulf Coast Oil-Export Facility License Upheld by U.S. Court

A U.S. appeals court on Thursday upheld federal approval of a deepwater oil-export facility planned off the Texas Gulf Coast, saying the proposed Enterprise Products Partners facility had met environmental review criteria.

Chevron Begins Pipeline Transport of Leviathan Natural Gas to Ashdod Refinery

NewMed Energy LP, a partner in the Leviathan natural gas field offshore Israel alongside Chevron Mediterranean and other stakeholders, announced the commencement of condensate transportation from the field to the Ashdod oil refinery located in western Israel.

QatarEnergy Signs Charter Deals for 25 LNG Vessels with Nakilat

QatarEnergy has entered time-charter party (TCP) agreements with Qatar Gas Transport Company Limited (Nakilat) for the operation of 25 conventional-size LNG vessels.

Mitsui Invests $740 Million in Developing Vietnam Gas Field

Japanese trading house Mitsui & Co. said on Friday it has reached a final investment decision to develop Vietnam's Block B gas field, with its share of development cost of about $740 million.

TotalEnergies Restarts Gas Production at Tyra Offshore Hub

The revamped hub is expected to produce 5.7 million cubic meters of gas and 22,000 barrels of condensate per day, reaffirming Denmark's self-sufficiency and status as a net exporter of natural gas.

Chevron CEO 'Surprised' by Exxon's Arbitration Filing Over Guyana Stake

Chevron was surprised when Exxon Mobil filed for arbitration over Chevron's plans to buy Hess's Guyana oilfield stake, Chevron CEO Michael Wirth said on Tuesday.

Nord Stream Sues Insurers in London Over 2022 Pipeline Explosions

Nord Stream is seeking more than $436 million from its insurers over explosions in 2022 which ruptured pipelines designed to transport Russian gas to Germany, court filings show.

Hess Reassesses Chevron's $53 Billion Merger Timeline Amid Exxon's Bid

U.S. oil producer Hess said on Thursday it was reviewing the timeline for closing its merger with Chevron, after oil major Exxon Mobil signaled a potential counter offer for Hess's Guyana assets.

Turkey Inks Oil and Gas Cooperation Pact with Somalia

Turkey signed an offshore oil and natural gas cooperation deal with Somalia on Thursday, the Turkish Energy Ministry said, further strengthening bilateral ties after agreeing a defense deal last month.

Mexico's Pemex, Billionaire Investor Carlos Slim Discuss Reviving Deepwater Gas Project

Mexican state energy company Pemex and billionaire investor Carlos Slim's team are discussing ways to revive development of the country's first deepwater natural gas field that was shelved twice before, two sources told Reuters.