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ADNOC completes bookbuilding for drilling unit IPO raising over $1.1 bln

September 29, 2021
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State oil giant Abu Dhabi National Oil Co (ADNOC) has completed book building for the initial public offering (IPO) of ADNOC Drilling, raising more than $1.1 billion, it said on Monday. The offering was oversubscribed, with total gross demand amounting to more than $34 billion, it said in a statement. "Upon settlement, ADNOC Drilling's IPO will be the largest

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TGS completes seismic acquisition offshore Newfoundland

September 29, 2021
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TGS, a global provider of energy data and intelligence, on behalf of the PGS-TGS joint venture, has announced completion of a successful seismic acquisition season offshore Newfoundland, Canada. The newly acquired data provides 3D data coverage to complement the existing 2D grid, enhancing geological and geophysical insights to explorers in the region. Most recently, over 9,900 sq kms were

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OPEC forecasts oil growth to 2035

September 28, 2021
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OPEC sees oil demand continuing to grow to the middle of next decade, even as world leaders prepare for another attempt to avert catastrophic climate change. Global fuel consumption will fully recover from its pandemic slump by 2023, and will keep growing until it hits a plateau shortly after 2035, the Organization of Petroleum Exporting Countries said in

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bp GOM starts up Thunder Horse South Expansion 2

September 28, 2021
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bp has announced the safe and successful start-up of its Thunder Horse South Expansion Phase 2 project. The Phase 2 project is expected to increase output at one of the largest fields in the Gulf of Mexico, with peak annual average gross production of 25,000 barrels of oil equivalent a day from the initial two well tieback. Eventually a

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Equinor adds on more work for the Stavanger

September 28, 2021
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Equinor has exercised one (1) additional well to be added to the Deepsea Stavanger contract. The well has been exercised under the Continued Optionality mechanism in the contract entered into between the parties in May 2020, as part of the overall Master Frame Agreement..The additional well shall follow the current firm period of three (3) wells which commences

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PetroRio awards contract services for Frade and Wahoo projects

September 27, 2021
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PetroRio defined the contracting of the drilling service for the Frade and Wahoo projects, in the Campos Basin. The start of the campaign is scheduled for the first quarter of 2022. Instead of the original proposal to close a single package, the oil company opted to split the process into three different businesses, hiring Schlumberger, Halliburton and

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China set to drill 118,000 wells through 2025

September 27, 2021
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China is looking to pump up oil and gas production in the years ahead to meet climbing domestic demand and reduce the record-high share of imports in its oil consumption. A Rystad Energy report projects a surge in spending till 2025, which will be accompanied by a drilling spree totaling 118,000 wells that will create significant opportunities

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Angola announces award of 2020 Bidding Blocks

September 27, 2021
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Angola’s Agency for Petroleum, Gas and Biofuels (ANPG), acting as a National Concessionaire, has announced the result of the bidding process for the Lower Congo and Kwanza Onshore Basins, according to the composition of the Contractor Groups can be found here. The National Concessionaire will shortly notify the winning companies about the date and place for the start of the

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PGS awarded more work from ExxonMobil offshore Suriname

September 27, 2021
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PGS has secured a 3D acquisition contract with ExxonMobil for work offshore Suriname. Ramform Tethys is scheduled to commence acquisition during Q4 2021, and it is planned to complete in Q1 2022. 'We are very pleased with this contract award by ExxonMobil. We are increasingly familiar with Caribbean waters and have proven the productivity advantage of our Ramform Titan-class acquisition platform and superior data

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BP says nearly a third of its UK fuel stations running on empty

September 27, 2021
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BP said nearly a third of its British petrol stations had run out of the two main grades of fuel on Sunday as panic buying forced the government to suspend competition laws and allow firms to work together to ease shortages. Lines of vehicles formed at petrol stations for a third day running as motorists waited, some for hours,

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