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.
Genesis Energy: First Oil at GoM Field Pushed Back to 2Q 2025
Genesis Energy’s is awaiting a floating production vessel to connect its SYNC pipeline in the Gulf of Mexico to the delayed Shenandoah deepwater project.
Viaro Energy to Buy Shell, Exxon’s North Sea Assets
When the transaction is completed, Viaro Energy will control 11 fields that produced 28,000 boe/d in 2023, 5% of the U.K.'s total gas production.
Chevron’s $53B Hess Deal Delayed Until At Least Summer 2025
A pivotal arbitration hearing regarding Chevron’s acquisition of Hess Corp.’s Guyana portfolio is set for May 2025.
Petrobras’ 2Q Production Rises 2.4% YOY to 2.7 MMboe/d
Brazil’s state-owned Petrobras reported average production of 2.7 MMboe/d in second-quarter 2024 as offshore production continues to ramps up.
Transocean Announces $531MM GoM Contract with BP
BP’s contract with a Transocean vessel is expected to culminate in a drilling program beginning in first-quarter 2025.
BP Awards Subsea Alliance Contract for UK North Sea Development
SLB, OneSubsea, Subsea 7 and the Subsea Integration Alliance will increase speed of tool delivery, optimize installation and reduce rig days at BP’s Murlach development in the North Sea.
TotalEnergies Exits from Offshore South Africa Blocks
TotalEnergies’ departure comes after partner CNR International also withdrew from the same blocks.