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E&P Highlights: June 24, 2024
Here’s a roundup of the latest E&P headlines, including TotalEnergies working with Nigeria to reach FID on the Ubeta gas field and Chevron signing production sharing contracts for two blocks offshore Equatorial Guinea.
IEA: EV Growth Could Displace Up to 12 MMbbl/d by 2035
The Paris-based IEA says up to 12 MMbbl/d of oil demand could be displaced by 2035 due to the rapid uptick in electric vehicle usage globally—especially in the U.S., EU and China.
At Last, AI Brings Good News for Gas Producers
Is artificial intelligence humanity’s power-hungry new friend?
Oceaneering Nabs GoM Umbilical Contract Worth $50MM
Offshore services firm Oceaneering secured a large contract with a domestic independent energy customer in the Gulf of Mexico.
TGS to License Tanzania’s Offshore Subsurface Data
TGS, in an agreement with Tanzania’s Petroleum Upstream Regulatory Authority, reserves the right to license all of the country’s offshore data, acquire future seismic data and reprocess existing data.
Costly Consequences as E&Ps Navigate Methane Mitigation
Oil and gas companies are adjusting to an evolving emissions reduction landscape as state and federal regulators target methane emissions.
Norway’s DNO Discovers Gas Condensate in North Sea’s Cuvette
Cuvette is the second well in DNO’s 2024 North Sea exploration program.
TGS Gaining Ground on Subsurface Insights in the Permian
TGS released the Dynamic Matching FWI volume for the West Kermit 3D seismic survey, which spans 1,054 sq km across the Delaware Basin in Loving and Winkler counties, Texas.
Northern Midland: EOG Brings on Dean Oil Well in SE Dawson Stepout
EOG Resources has not stated yet that Dawson County is the location of its new “stealth play.” It remained mum in an investment-banking conference this week.
TGS, PetroAI to Develop Earth AI Models for Well Performance, Design
PetroAI’s platform for E&Ps will use TGS’ subsurface, production and well data, which allows for “accurately” quantified exploration and development trade-offs.