Offshore Enters Uncharted Waters
For the offshore sector, the collapse in oil demand and prices came just as the market was beginning to look up. Now many companies are focused on survival. This article discusses how various market segments, regions, and companies are faring in “the new reality.”
Oil and Gas Discoveries Reach Four-Year High in 2019: Rystad
A total of 12.2 billion BOE was discovered worldwide in 2019—the highest volume in 4 years, with offshore regions dominating the list of new deposits.
CNOOC Names CEO, Increases Bohai Oil Production
Xu Keqiang took the reins as CEO of the Chinese national oil company on 19 November. Meanwhile, more oil is flowing from the offshore Caofeidian 11-1/11-6 oilfield project.
Petrobras Awarded Búzios, Itapu Blocks in Brazilian Auction
Just three firms submitted bids in an auction many are deeming as a disappointment for Brazil.
UK Continental Shelf: Two Big Discoveries and More to Come
Leaders from UK’s Oil and Gas Authority, Total, CNOOC, and Equinor discuss exploration successes, misses, and expectations for the offshore UK.
Majors Drive Increase in Global Oil and Gas Discovered Resources
Conventional oil and gas discovered resources in 2019 are on pace to rise 30% from last year and reach their highest level since the beginning of the industry downturn. Here, a recap of the first quarter's 15 biggest oil and gas discoveries, which altogether are propelling the increase.
CNOOC’s “Major Find” In North Sea Is Biggest In 11 Years
The state-run offshore company has found a gas and condensate field that holds an estimated 250 million BOE.
CNOOC’s Strategic Plan Sets “Bullish Tone” for Chinese NOCs
The national oil company’s aim to lift oil and gas production and reserves over the next few years will rely on growth from big international projects, including those in Nigeria, Guyana, and the US.
CNOOC, Several International Firms Sign Agreements for Areas Offshore China
Chevron, ConocoPhillips, Equinor, Shell, and Total are among nine firms looking to explore the Pearl River Mouth Basin.
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12 May 2020