UK North Sea league table sees shift in top producers
There’s been a raft of relegations and promotions in the last year for the league table of the top 15 production hubs in the UK North Sea.
There’s been a raft of relegations and promotions in the last year for the league table of the top 15 production hubs in the UK North Sea.
Eni has unveiled new details of infrastructure and timings for its Liverpool Bay carbon storage scheme, including a newbuild platform at the Douglas complex.
A new report suggests Big Oil continues to link executive pay to increased fossil fuel production, even if this conflicts with energy transition targets and climate policies.
Eni's fourth-quarter profit matched estimates as its natural gas business helped to offset weakness in refining and chemicals.
Eni has reported success at the Cronos-2 well offshore Cyprus, noting “excellent gas deliverability capacity” at the find.
The Norwegian company will begin project management and engineering “immediately” at its offices in Bergen and Aberdeen.
The statement went on to say Descalzi planned to visit Malabo in the near future to present agricultural and energy projects.
Italian oil giant Eni (BIT: ENI) has completed its multibillion-dollar takeover of North Sea operator Neptune Energy.
The LIA said the work was “one of the largest exploratory projects” in Libya, with exploration on- and offshore. A and B are onshore, while C is offshore.
The UK government outlined its CCUS Vision in December, but where will the carbon set to be stored in offshore sites be sourced from?
Eni said this second FLNG vessel will begin producing in 2025. The company will market all of the produced LNG, it said.
Eni (BIT: ENI) agreed to sell about 9% of its Plenitude renewables unit to Energy Infrastructure Partners AG for €700 million ($766 million) via a capital increase to be completed in early 2024.
In notes on its decision, Norway said NewMed’s investment in the licence “is not conducted in accordance with the wishes and interests of the people of Western Sahara, and because it contributes to maintain an unresolved situation for the area”.
No CO2 has been sequestered, no FID has been taken and no commercial scale projects are in operation. At the event, speakers set out their hopes for projects to reach FID by this time in 2024.
If agreed, the settlement would help to open the way for an expansion of the Kashagan oil development, including construction of new gas-processing plants needed by the government, the people said.
Operations at the Nigerian oil block have been halted for more than a decade by a series of trials and competing legal claims.
In September, Apex started producing gas at the Faramid project, in IEOC’s East Obaiyed. Apex has a 25% stake in the project, which is producing 24.4 million cubic feet per day of gas.
Shell (LON: SHEL) will need as much as one trillion cubic feet of gas from exploration licences in the West of Shetland to "truly whet its appetite", according to analysis by Wood Mackenzie.
In September, it sold non-operated stakes in the Kaybob Duvernay and Placid Montney for $104 million. The plan is to invest some of the proceeds in international works.
Valaris now has a contract backlog of $3.2 billion.
The developers of two floating wind farms secured as part of the INTOG leasing round have signed exclusivity agreements, paving the way for development later this decade.
"The winning companies have committed to unprecedented investment in natural gas exploration over the next three years, which would hopefully result in the discovery of new natural gas reservoirs.”
Geng North is thought to hold around 5 trillion cubic feet of gas and 400 million barrels of condensate. Eni sees the Kutei Basin becoming a “new world class gas hub”.
The company said it aims to increase its LNG contracted volumes to more than 18 million tonnes per year of LNG by 2026.
The Italian company said it would begin work immediately and expected to complete this in early 2026.