Petrofac has secured a $350 million Technical Services Contract with Compañía Nacional de Petróleos de Guinea Ecuatorial (GEPetrol), the National Oil Company of Equatorial Guinea, to support the operation of the region's Block B asset.
ADES Holding Company (ADES) in Saudi Arabia has been awarded a one-year firm jack-up drilling contract in Qatar by a major International Oil Company (IOC), with optional extensions of up to 18 months. The total contract value, including firm and optional terms, amounts to approximately SAR 350 million ($93.3 million).
Chevron's venture capital arm has announced its third fund, the Future Energy Fund III, with a $500 million commitment aimed at investing in renewable energy technologies, according to Reuters.
SLB has secured three contracts from Petrobras for completion hardware and services for up to 35 subsea wells in the Buzios Wave II oilfield development. The contracts entail SLB’s full bore electric interval control valves and electric subsurface safety valves. marking a shift towards full production system electrification for Petrobras to enhance production availability through more reliable completions.
TechnipFMC has secured a contract in Guyana's Stabroek Block from ExxonMobil Guyana Limited for the Whiptail project. This contract involves the supply of subsea production systems, including 48 subsea trees, associated tooling, 12 manifolds, controls, and tie-in equipment.
TotalEnergies has said that more efforts are needed before a final investment decision can be made regarding the planned liquefied natural gas (LNG) project in Papua New Guinea.
Petrobras has announced an oil discovery in the ultra-deep waters of the Potiguar Basin. The discovery, located in the Anhangá exploratory well of Concession POT-M-762_R15, marks the second oil find in the Potiguar Basin in 2024. This follows the confirmation of hydrocarbons in the Pitu Oeste Well in the BM-POT-17 Concession.
ExxonMobil has announced that it made a final investment decision (FID) for the Whiptail development offshore Guyana, marking the sixth project on the Stabroek block. This decision follows the necessary government and regulatory approvals, with expectations to increase daily capacity by approximately 250,000 barrels by the end of 2027.
Vitol has generated a net profit of $13 billion in 2023, a slight decline from the record-breaking $15 billion net profit the Swiss-based trader achieved in 2022, according to Reuters.
TotalEnergies has acquired 20% interest of Lewis Energy Group in the Dorado leases managed by EOG Resources in the Eagle Ford shale gas region.
