Shell Overseas Holdings Limited, a subsidiary of Shell plc (Shell), has signed an agreement to invest in the Abu Dhabi National Oil Company’s (ADNOC) Ruwais liquefied natural gas (LNG) project in Abu Dhabi through a 10% participating interest. “This investment decision builds on our long-standing partnership with ADNOC,” said Shell’s Chief Executive Officer Wael Sawan. […]

TotalEnergies has signed an agreement to sell to The Prax Group its entire interest in West of Shetland assets in the United Kingdom (Laggan, Tormore, Glenlivet, Edradour and Glendronach fields, the onshore Shetland Gas Plant and nearby exploration licenses). The transaction is subject to approval from the relevant authorities. These mature assets currently produce about […]

BW Energy has now concluded the drilling and the logging of the DHIBM-7P pilot well, confirming a substantial oil discovery with good reservoir quality and a material uplift to the Hibiscus area. The Company’s preliminary evaluation indicates an increase in Hibiscus gross recoverable reserves (mid-case) of approximately 8 million barrels of oil to 12 million […]

The Shallow Water Competitive Bidding Round 2023/2024 was launched on October 3rd, 2023 and closed on May 27th, 2024 at 12 noon. Thirteen (13) offshore blocks were placed on offer, namely, Block 1(b), Block 2(ab), Block 2(d), Block 4(c), Block Lower Reverse L, Block Modified U(c), Guayaguayare (Offshore) Block, Block 21, Block 22(a), Block 22(b), […]

Equinor is selling 19.5% interests in production licenses PL 048E, which is the Eirin field, and PL 1201 to PGNiG Upstream Norway AS (PGNiG). With this, the ownership between Equinor and PNGiG in these licenses will be balanced with the Gina Krog field. The plan for development and operation (PDO) for Eirin was approved in […]

Equinor and the Troll partners have decided to invest just over NOK 12 billion to further develop the gas infrastructure in the Troll West gas province. This will accelerate production from the reservoir and thus maintain the current high gas export levels from the Troll and Kollsnes value chain leading up to 2030. Stage 2 […]

Key Highlights of the Awards • The SUCO award in Egypt’s Gulf of Suez is for a firm 21-month term expected to start in the coming weeks. The drilling campaign will utilize a standard jackup unit from ADES’ fleet.  • The contract value from the firm term is approximately SAR 161 million.  • The new […]

As previously disclosed, BW Group Limited (BW Group) currently owns 191,903,110 shares in BW Energy Limited (BW Energy), corresponding to 74.38% of the issued and outstanding shares and voting rights in BW Energy. As part of a corporate restructuring, BW Group is planning to separate BW Energy, as an oil & gas exploration business, from […]

ExxonMobil has made a final investment decision for the Whiptail development offshore Guyana, after receiving the required government and regulatory approvals. Whiptail, the sixth project on the Stabroek block, is expected to add approximately 250,000 barrels of daily capacity by the end of 2027.  “Our sixth multi-billion-dollar project in Guyana will bring the country’s production capacity […]

CNOOC has announced  that the Company has made a major oilfield discovery of Qinhuangdao 27-3 in Bohai Sea, which adds over a hundred million tons of oil equivalent proved in-place volume. Qinhuangdao 27-3 Oilfield is located in the north-central waters of the Bohai Sea, with an average water depth of approximately 25 meters. The main […]