IOCs See Opportunity in Offshore Mexico, Despite Potential for Policy Changes
Five IOCs with offshore experience and capital—Eni, Harbour, Talos, Wintershall Dea and Woodside—continue to pursue promising opportunities offshore Mexico despite the country’s energy sovereignty push in favor of state-owned entities Pemex and CFE.
Amid Flagging US Activity, OFS Sector Looks to 2025—and Overseas
Despite a slowdown in U.S. activity expected to last until 2025, overseas and offshore markets helped the oilfield services sector deliver solid second-quarter results.
International OFS Firm HMH Plans to IPO, Activate in M&A
The firm is a 50/50 joint venture of Baker Hughes and Akastor ASA formed in 2021 to include brands such as Hydril and Vetco Gray as well as Wirth and Maritime Hydraulics.
Talos Buys Interests in Monument GoM Development
Talos Energy acquired a 21.4% interest in Monument in the U.S. Gulf of Mexico for $32 million in the second quarter. First production of up to 30,000 gross boe/d is expected by late 2026.
Petrobras to Add Two FPSOs Offshore Brazil in Second-half 2024
Petrobras will bring online 280,000 bbl/d of production capacity in the second-half 2024 with the addition of two FPSOs offshore Brazil.
Chevron’s Gulf of Mexico Anchor Project Begins Production
Chevron and TotalEnergies’ $5.7 billion floating production unit has a gross capacity of 75,000 bbl/d and 28 MMcf/d.
Kosmos’ Stars Shine Bright in 2Q
With the startups of Jubilee Southeast and Winterfell, Kosmos Energy is halfway to achieving its production goal.
CNOOC Discovers Over 100 Bcm of Proved Gas in South China Sea
CNOOC’s Lingshui 36-1 is the world’s first large, ultra-shallow gas field in ultra-deep water.
The EPC Market Keeps Its Head Above Water
While offshore investments are rising, particularly in deepwater fields, challenges persist due to project delays and inflation, according to Westwood analysis.
Exxon Expects 3Q Guyana Volumes to Fall by 80,000 bbl/d
Exxon Mobil is forecasting lower third quarter Guyana production by about 13% due to hook-ups related to a gas-to-energy project for mainland Guyana.