Offshore - Oil & Gas

  • $28 Billion to be Spent on Asian Oil and Gas...

    An estimated 50 oil and gas fields in South East Asia, with a collective four billion barrels of oil equivalent resources, will likely be approved for development during the three-year period from 2018 through 2020, according to industry analyst Rystad Energy. 

  • Belize Bans Offshore Oil and Gas Exploration

    In the closing days of 2017, as the Trump administration drafted a proposal to open most U.S. waters to oil and gas development, the legislature of Belize unanimously approved a bill to ban future offshore exploration. 

  • Investment of $83.4bn in top ten offshore gas...

    Over $186bn in capital expenditure will be spent over the lifetime of the top 10 offshore gas projects to produce 299 trillion cubic feet (tcf) of natural gas, according to research and consulting firm GlobalData. These 10 projects, selected from 156 upcoming offshore projects globally, will contribute incremental capacity of 15,200 million cubic feet per day (mmcfd) to global gas supply by 2025. Barzan, a planned shallow water field in Qatar, is the largest with anticipated peak production at 5,580 mmcfd in 2030 at an estimated cost of $17bn.

  • Exxon Strikes Oil Offshore Guyana

    ExxonMobil announced Friday that its successful run of oilfield discoveries offshore Guyana continued in the last quarter with positive results at the Ranger-1 exploration well. Previous finds at the firm's Liza, Payara, Snoek, Liza Deep and Turbot wells are estimated to contain more than 3.2 billion barrels oil equivalent.

  • Saudi company wins Fadhili gas plant supply deal

    Electronic and Electrical Industries Corporation (EEIC), a power and automation solutions provider and a subsidiary of Abunayyan Holding, has won a major supply contract for the Fadhili gas plant project in Saudi Arabia.
     

  • KOC floats tenders for offshore oil exploration...

    Kuwait Oil Company (KOC) in an unprecedented move has floated tenders for offshore oil explorations, reports Al-Anba daily. The daily quoting informed sources explained that contracts are expected to be signed in the second half of 2018 for implementation of the project. He explained the internal tenders committee at KOC went ahead and floated tenders for offshore oil explorations without resorting to the Central Tenders Committee based on specific conditions stipulated in the new Tenders Law.

  • Spectrum increases 2D seismic coverage offshore...

    Spectrum, in partnership with BGP Marine, has started a multi-client 2D seismic survey covering the Austral and Malvinas basins offshore southern Argentina. Through the authorization of the Ministry of Energy and Minerals, the expected survey size is about 14,500 km (9,010 mi) but may vary based on input from participating clients.

  • 2017, the year that saw oil, gas production...

    While the strategic petroleum sector, including oil and gas, continues to remain outside the new GST indirect tax regime that replaced a 70-year-old system, the industry did manage in 2017 to switch over to a new exploration regime that gives producers marketing and pricing freedom. 

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$28 Billion to be Spent on Asian Oil and Gas Projects

An estimated 50 oil and gas fields in South East Asia, with a collective four billion barrels of oil equivalent resources, will likely be approved for development during the three-year period from 2018 through 2020, according to industry analyst Rystad Energy. 

English

Belize Bans Offshore Oil and Gas Exploration

In the closing days of 2017, as the Trump administration drafted a proposal to open most U.S. waters to oil and gas development, the legislature of Belize unanimously approved a bill to ban future offshore exploration. 

English

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