LUKOIL brought into operation the largest digital model of an oil field in Russia. Creation of this complex integrated model of the Vatyeganskoye field is a part of LUKOIL’s Intelligent Field project. This one-of-a-kind project (in terms of both scale and difficulty) envisages creation of digital twins of over 3 thousand wells and 12 production zones. It […]

The Troll partners are Equinor, Petoro, Shell, TotalEnergies and ConocoPhillips.    Troll has generated substantial revenues for 25 years and will continue to do so for many years to come. Annual state revenues from the Troll phase 3 project alone are estimated at an average of more than NOK 17 billion (2021). The Troll phase […]

The Biden administration said that it is set to resume selling oil and gas drilling rights in the Gulf of Mexico and throughout the western U.S., after a judge ruled the president’s leasing pause was unlawful according to world oil reports. The Interior Department said it planned to issue a formal notice in September to […]

Tethys Oil’s share of the production, before government take, from Blocks 3&4 onshore the Sultanate of Oman amounted in June 2021 to 342,446 barrels of oil, corresponding to 11,415 barrels of oil per day. Oil production in Oman is currently subject to production limitations under the OPEC+ agreement. As a consequence, production from Blocks 3&4 […]

Equinor and state-owned Petróleos de Venezuela (PdVSA) have completed a transaction whereby Equinor will transfer its 9.67% non-operated interest in the Petrocedeño project onshore Venezuela to Corporación Venezolana del Petróleo (CVP), a PdVSA company.  The Petrocedeño project aims to upgrade extra-heavy crude oil into lighter crude from the Orinoco Belt area (onshore Venezuela). As a […]

The ExxonMobil board of directors will consist of Michael Angelakis, Susan Avery, Angela Braly, Ursula Burns, Kenneth Frazier, Gregory Goff, Kaisa Hietala, Joseph Hooley, Steve Kandarian, Alexander Karsner, Jeffrey Ubben and Darren Woods. Douglas Oberhelman, Sam Palmisano and Wan Zulkiflee will be departing the board. “Our board looks forward to continuing to work in the […]

The Ministry of Petroleum and Energy has offered Equinor two operated production licences in the 25th licensing round in the Barents Sea. “We are pleased with the award. A steady access to acreage contributes positively to the development of the Norwegian Continental Shelf. This award brings opportunities for exploring volumes near planned infrastructure. We prioritise […]

Occidental has announced it has entered into a definitive agreement to sell non-strategic acreage in the Permian Basin to an affiliate of Colgate Energy Partners III, LLC, for $508 million, subject to closing adjustments to reflect an April 1, 2021 effective date. The transaction, which is expected to close in the third quarter of 2021, […]

Borr Drilling Limited has five rigs working for joint ventures which are jointly owned with our Mexican partner providing integrated well services for Pemex. The services commenced in May 2019 and have provided Pemex with an incremental production of approximately 125,000 barrels of oil per day from 21 wells drilled so far. In our most […]

ExxonMobil today said it made a discovery at Longtail-3 in the Stabroek Block offshore Guyana. Drilling at Longtail-3 encountered 230 feet (70 meters) of net pay, including newly identified, high quality hydrocarbon bearing reservoirs below the original Longtail-1 discovery intervals. The well is located approximately two miles (3.5 kilometers) south of the Longtail-1 well. It […]