Danos Nets Production Services Contract for Beacon Offshore's Shenandoah FPS
Danos Operations Services has been awarded a contract to provide production services for Beacon Offshore Energy’s new deepwater facility, the Shenandoah floating production system (FPS). The project will employ production operators, instrumentation and electrical technicians, mechanics, and offshore installation managers. Several employees began work on the platform in 2024.The Shenandoah facility is in the final stages of hook-up and is expected to begin producing oil later this summer.
Commodity Report: Meeting Oil Demand a Challenge if Israel Hits Iran Oil
Oil market participants have switched to dreading a shortage in fuel from focusing on impending oversupply in just two days this week.After Israel attacked Iran and Tehran pledged to retaliate, oil prices jumped as much as 13% to their highest since January as investors price in an increased probability of a major disruption in Middle East oil supplies.Part of the reason for the rapid spike is that spare capacity among OPEC and allies to pump more oil to offset any disruption is roughly equivalent to Iran's output…
Exxon Consortium Produced 668,000 bpd in Guyanese Oil Last Week
A consortium led by Exxon Mobil that controls all oil and gas output in Guyana produced 668,000 barrels per day (bpd) of oil last week, the U.S. company's head for the South American country, Alistair Routledge, said during a conference on Tuesday.The group is working to install its fourth floating output facility after receiving it in Guyana's waters in February. In March, the companies produced 627,000 bpd, and the 631,000 bpd average achieved in the first quarter was 3% higher year-on-year…
Galp Energia Seeks Namibia Oil and Gas Partner
Portugal's Galp Energia has resumed talks with potential partners as it seeks to develop a discovery in Namibia, the company said on Monday after reporting a 29% drop in adjusted first-quarter core profit.In February, Galp said it had found a significant presence of light oil and gas condensate in a fifth well in the Mopane field offshore Namibia.Co-CEO Maria Joao Carioca said the well "unlocked a new exciting area within Mopane" and Galp will advance on feasibility studies "in the coming months".At the same time…
Bulgaria, Shell Sign Contract for Black Sea Gas and Oil Exploration
Shell signed a contract with Bulgaria's government on Tuesday (April 15) giving the oil and gas multinational major rights to explore for oil and gas in the Black Sea."With this contract, we are taking a significant step toward uncovering the deep Black Sea’s potential for future gas supplies," Bulgaria's Energy Minister Zhecho Stankov said.The contract will allow Shell to explore 4,000 square metres in the Block 1-26 Khan Tervel field.European Union member Bulgaria, which had been totally dependent on Russian gas until 2022, has been seeking to diversify its gas supplies and find cheaper sour
