Oilfield NEWS

Valeura Energy shuts in 2400 barrels per day of oil at Wassana after floating storage and offloading vessel hits Calm buoy

An offshore drilling platform stands in shallow waters at the Manifa offshore oilfield, operated by Saudi Aramco, in Manifa, Saudi Arabia, on Wednesday, Oct. 3, 2018.

The agreement to further develop the Hengam oilfield, which straddles Iran and Oman’s offshore waters, follows an MoU signed last year

A leading Italian engineering and construction giant has landed a sizeable offshore contract from Saudi Aramco for work on its Marjan oilfield, as a part of the Saudi state giant’s long-term agreement (LTA) with international contracting players.

Club holding Halliburton (HAL) reported stronger-than-expected first-quarter results before the bell Tuesday, validating our investment in the oilfield services company as it capitalizes on years of underinvestment in drilling capacity.

Pioneer Natural Resources CEO Scott Sheffield says refining capacity and inventory issues means the oil industry won’t be able to grow U.S. production much higher than it already is. In 2022, an average of 11.9 million barrels of U.S. crude oil were produced each day, just below the record average of 12.3 million barrels per day set in 2019.

Equinor said on Friday it will acquire the British oil and gas business of Canada’s Suncor Energy for $850 million, giving the Norwegian company stakes in several key North Sea petroleum assets.

Since 2003, OHH has given $5.9 million to more than 1,000 oil and gas industry workers and their families. What began as a small fundraising effort for a family facing unforeseen medical expenses, has grown into a national organization.

Schlumberger NV on Friday raised its annual revenue forecast after beating analysts' second-quarter earnings expectations, buoyed by higher demand for its oilfield services and equipment. The company has benefited from a boost in activity driven by stronger oil and gas prices. Global crude prices hovered above $100 per barrel last quarter, fueled by tight supplies following Western sanctions on Russia, a major producer, and as energy consumption returned to near pre-pandemic levels.

French multinational contractor SNF Flopam has won new enhanced oil recovery work for India’s state-owned giant Oil & Natural Gas Corporation.

U.S. shale producers and OPEC, who not long ago were waging a price war, this week found themselves on similar sides as oil prices have surged well above $100 a barrel: in no rush to rapidly boost production.

Infill drilling offshore Western Australia could generate 13,500 bpd of new production

Baghdad (IraqiNews.com) – A signing ceremony took place for the preliminary principles agreement for the Al-Faw Investment Project and the Petrochemical Complex. The contract was signed by the Director General of South Refineries Company, Hussam Hussein Wali, on behalf of the Ministry of Oil, and Yu Fang Chunk, General Manager of Hualu Company, on behalf of the Chinese side. The agreement was signed in Baghdad, Iraq. The Al-Faw Investment Refinery Project is expected to bring in a capacity of 300,000 barrels per day. Ihsan Abdul-Jabbar Ismail, Minister of Oil, said that the mega project will improve the role of Iraq in the manufacturing and petrochemical industries and contribute to sustainable development, adding that the project value is between $7-8 billion dollars and could increase up to $29 billion dollars. According to the Ministry of Oil, Ismail emphasized that this contract is the largest in the Iraqi energy industry and will enhance the role of Iraq in this field.

Deir Ezzor province: SOHR activists have reported hearing explosions in the eastern countryside of Deir Ezzor, after three rockets hit an area near Al-Jafrh oil field in the SDF-held town of Jadid Ekaydat. According to sources, the rockets were fired from positions of regime forces and Iranian-backed militias in Jabal Al-Ommal in Deir Ezzor city. However, no casualties have been reported. Observatory sources reported earlier today that ISIS cells attacked posts of “Al-Qatarji” militia and National Defense Forces in the vicinity of Al-Kharata oil field in south-west Deir Ezzor desert on Sunday evening. According to Syrian Observatory sources, ISIS attack left 12 members of “Al-Qatarji militias and NDF wounded. “Al-Qatarji” and NDF members had withdrawn after regime forces’ support arrived and warplanes intervened.

It is very much a feature of the media that some of the most important stories get the least attention – t'was ever thus. But the news that Royal Dutch Shell had scrapped plans to develop the North Sea Cambo oilfield is a major event. Reuters noted that the field, situated off the Shetland Isles, had become a "lightning rod" for climate activists who had been seeking to halt all development of oil and gas resources. And now, it looks as if Shell has given up the unequal struggle.

Bloomberg) --Iraq is discussing a “giant” agreement with French oil giant Total SE to build large infrastructure installations, develop oil fields and produce gas, Oil Minister Ihsan Abdul Jabbar told Asharq News in an interview that aired on Saturday.The agreement is giant, and the volume of the investment exceeds $7 billion,” the minister said.

About 50 workers were infected by the novel coronavirus during an outbreak in recent weeks at a production well owned by Brazilian oil firm Dommo Energia SA, two regulatory sources with knowledge of the matter told Reuters. The production well, at the offshore Tubarao Martelo field, has been paralyzed since early May, added the sources, who requested anonymity to discuss private operational matters.

More than 400 people have tested positive for the coronavirus at Kazakhstan's top-producing oil field, health officials said on Friday. The number of infections at the giant Tengiz oil field rose from 17 on Thursday to 401 by Friday, according to officials in the Atyrau region. Kazakh state company KazMunayGas, ExxonMobil and LukArco - a subsidiary of Russia's Lukoil - are stakeholders in this project.