Author: Rigs & Barge World
20/02/2024 The Resource Accounts for 2023 show an increase in the volume of reserves and contingent resources. The overall petroleum resources have been reduced somewhat. The volume of undiscovered resources has been reduced, primarily in unopened areas in the Barents Sea. Areas opened for petroleum activities have seen a minor reduction, which is offset by exploration results in 2023. Estimates for the overall resource volumes (including volumes sold and delivered) on the Norwegian shelf amount to 15,575 million Sm³ of oil equivalent (o.e.), which means a minimal reduction of 191 million Sm³ of…
Egyptian Prime Minister Mostafa Madbouly confidently stated at his weekly press conference on 10 April that “there will be no electricity load shedding in the summer of 2025,” with the pledge echoed by cabinet spokesman Mohamed al-Homsani. “Despite the financial costs, the state is committed to securing all necessary funding to ensure uninterrupted power supply,” he says. (CONTINUED – 805 WORDS) Read this article for free Gain access to over 60-years of energy analysis and news Delve into the details backed by data Exclusive information from high-level officials Assess future risks and opportunities Source link
Dragon Oil Egypt Holdings (DOHL) signed a Memorandum of Understanding (MoU) with the Egyptian General Petroleum Corporation (EGPC) to consolidate existing concession agreements in the Gulf of Suez under a unified framework. The agreement was signed in the presence of Saeed Mohammed Al Tayer, Chairman of Dragon Oil, and Karim Badawi, Egypt’s Minister of Petroleum and Mineral Resources. The MoU was Signed by Salah Abdel Kareem, CEO of EGPC, and Ali Rashid Al Jarwan, CEO of DO, the agreement underscores Dragon Oil’s commitment to digital transformation, regional energy development and operational excellence. It marks a pivotal move towards consolidating concession…
This year’s award features a new design. 22/02/2024 For the twentieth time, companies are invited to nominate candidates for what will now be known as the Improved Recovery Award. Nominate your candidate The deadline for nominations is 15 April. The award will be presented during ONS in August. “We encourage the companies, academia and others to nominate innovative work for the Improved Recovery Award 2024”, says Anders Soltvedt, head of the jury and discipline coordinator, reservoir technology in the Norwegian Offshore Directorate. He adds that “improved recovery from the fields is more important than…
Kuwait has begun the long-planned merger of its two domestic state-owned refining companies. The move will see KPC’s Kipic and KNPC subsidiaries form a single entity which will operate the emirate’s 1.42mn b/d refining capacity as well as 3.12mn b/d gas processing capacity and the 22mn t/y Al Zour LNG import terminal. The latter and the 615,000 b/d Al Zour refinery are operated by Kipic, which was hived off from KNPC in 2016. In a 15 April letter reported by state agency Kuna, Wadha al-Khateeb who has been CEO of both firms since last year, said that the merger will…
Hanz will be tied into the Ivar Aasen platform. (Photo: Aker BP) 27/02/2024 The authorities have consented to start-up of production on the Hanz field in the North Sea. The development solution involves reusing the subsea installations on the Jette field, which was shut down in 2016. Hanz was proven in 1997, and is included in the 2013 plan for development and operation (PDO) for the Ivar Aasen field, which is located about 200 kilometres from Stavanger. Aker BP is the operator of production licence 028 B with a 35-per cent ownership interest, while…
US major Chevron has followed Shell in exiting its solitary block in Egypt’s Red Sea leaving the non-producing region with no active upstream assets. “Chevron can confirm it has relinquished its operated (45%) stake in Red Sea Block 1, located in the northern Red Sea, offshore Egypt,” the firm said on 18 April. Australia’s Woodside (45%) confirmed the acreage had expired “subsequent to the [reporting] period” in its Q1 results on 23 April. Woodside was also partnered at the two blocks recently relinquished by Shell (MEES, 7 March). (CONTINUED – 141 WORDS) Read this article for free Gain access to…
Eldfisk Complex. (Photo: ConocoPhillips) 28/02/2024 The authorities have given ConocoPhillips consent to start up Eldfisk nord in the North Sea. This is an installation consisting of two seabed templates for production and one for water injection – a total of nine production wells and five injection wells. Start-up is expected during the first quarter. According to the operator, the resource potential is projected to be 50-90 million barrels of oil. The investment amounts to nearly NOK 13 billion (USD 1.24 billion). The Eldfisk field is located in block 2/7 and is part of the…
QatarEnergy is set to inaugurate its 458MW Ras Laffan and 417MW Mesaieed solar PV plants on 28 April, officially bringing capacity up to 1.675GW (MEES, 19 July 2024). Further gains are planned with QatarEnergy planning 2GW of solar PV capacity near the western city of Dukhan (MEES, 6 September 2024). This is part of the country’s plans to reach 4GW renewable capacity and 18% of power generation by 2030. Qatar is also expanding its gas-fired capacity with a $440mn, 500MW open cycle gas-fired plant at Ras Abu Fontas slated for January 2027 start-up, though this is envisaged for peaking use only…
06/03/2024 On 6 of March 2024, the Ministry of Energy announced two areas for CO2 storage pursuant to the CO2 Storage Regulations. This area comprises defined blocks in the North Sea. Updated: 06/03/2024 Latest news Production figures March 2025 23/04/2025 Preliminary production figures for March 2025 show an average daily production of 1 972 000 barrels of oil, NGL and condensate. Drilling permit for wellbore 30/11-16 S 15/04/2025 The Norwegian Offshore Directorate has granted Aker BP ASA drilling permit for wellbore 30/11-16 S in production licence 873, cf.…