Latest news with #offshore
Bloomberg
an hour ago
- Business
- Bloomberg
Ivory Coast, Eni Sign Exploration Deal for Offshore Oil Block
Ivory Coast and Eni SpA signed a contract for the acquisition of a new offshore oil-exploration block, according to minutes from a cabinet meeting. The deal for the CI-707 block has a duration of three years in the first phase and includes a minimum $20 million investment.
Yahoo
17 hours ago
- Business
- Yahoo
CNOOC commences production at Dongfang 1-1 gas field
China National Offshore Oil Corporation (CNOOC) has announced the start of production at the Dongfang 1-1 gas field 13-3 Block Development Project. This is the first offshore natural gas project offshore China to tackle high-pressure, high-temperature conditions in a low-permeability environment. The project is located in the Yinggehai Basin, where the average depth of water is around 67m. The main production facility includes a new unmanned wellhead platform that utilises the current processing infrastructure of the Dongfang gas fields. With six development wells planned, the project is scheduled to reach a peak production of around 35 million cubic feet per day of natural gas by next year. By using existing facilities to connect the Dongfang 1-1 and Dongfang 13-2 gas fields, CNOOC has created an integrated offshore gas production network in the Yinggehai Basin. This network is set to ensure a consistent supply of natural gas across the area, thereby underpinning the economic and societal growth of Hong Kong, Guangdong and Hainan. CNOOC has full ownership of the project and serves as the operator. The company initiated production at the Dongfang 29-1 gas field development project in the South China Sea in January of this year, aiming to enhance China's energy supply. This field, also situated in the Yinggehai basin, is at an average water depth of 68m and is wholly owned and operated by CNOOC. Earlier this month, the company began production at phase one of the Kenli 10-2 Oilfields Development Project, a significant achievement for China's largest shallow lithological oilfield offshore. Additionally, CNOOC uncovered oil and gas reserves in metamorphic buried hills off the coast of China for the first time. "CNOOC commences production at Dongfang 1-1 gas field" was originally created and published by Offshore Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Reuters
20 hours ago
- Business
- Reuters
UK's Energean takes final investment decision on Croatian gas field
LONDON, July 30 (Reuters) - British gas producer Energean (ENOG.L), opens new tab has taken the final decision to invest in the Irena gas field in the North Adriatic Sea off Croatia, it said on Wednesday. The gas field is located in the Izabela concession, an offshore gas development area in the North Adriatic Sea, which is operated by Edina, a 50-50 joint venture between Energean and Croatian oil and gas company INA–Industrija Nafte. Energean has a 70% working interest in the concession, it said in a statement. The first gas at the Irena gas field is expected to be produced in the first half of 2027. Peak production is estimated to be around 1,400-1,700 barrels of oil equivalent per day, Energean added. The total estimated capital expenditure for the project is 71 million euros ($81 million), with Energean's share at 50 million euros. ($1 = 0.8723 euros)
Yahoo
a day ago
- Business
- Yahoo
Boskalis-Allseas consortium secures $1.4bn pipeline contract in Taiwan
A joint venture (JV) between Boskalis and Allseas has secured a contract worth roughly €1.2bn ($1.39bn) from Taiwan's CPC for the development of a new offshore gas pipeline, intended to enhance energy infrastructure in the country. The project involves constructing the second undersea gas pipeline from Yongan to Tongxiao (YT2), which is set to increase gas supply capacity in the northern region. The Boskalis-Allseas JV will manage the design, construction, installation, and pre-commissioning of the offshore natural gas pipeline, almost 232km long. This new pipeline will run parallel to the existing YT1 pipeline, linking the Yongan liquified natural gas (LNG) terminal located in the south-west to the Tongxiao transfer station in the north-west. The project encompasses trenching, installing 34 crossings over current and planned infrastructure, backfilling, and two landfalls. Allseas and Boskalis will divide responsibilities within the consortium. Boskalis will handle landfalls and microtunnelling, nearshore and offshore trenching, backfilling, and rock installation for the pipeline crossings. The company plans to use two large hopper dredgers, a large backhoe dredger, and a subsea rock installation vessel for these tasks. Meanwhile, Allseas will focus on pipeline installation and pre-commissioning, deploying two advanced pipelay vessels for the operation. Boskalis and Allseas stated: 'This project demonstrates Allseas' and Boskalis' commitment to supporting the development of critical energy infrastructure and reinforces their leading position in the offshore sector. 'By delivering this project in close cooperation with CPC Corporation Taiwan, the consortium will play a key role in enhancing the reliability and security of natural gas supply for the region.' Scheduled to start in 2026, the project is expected to be completed by 2028. CPC's natural gas infrastructure initiative involves an extensive network on Taiwan's western side, including a planned figure-of-eight configuration for enhanced transmission capabilities. This network will incorporate the new YT2 pipeline alongside future developments such as a terrestrial pipeline from Yongan to Taoyuan and linkages from the Taichung LNG plant to the Datan power station. "Boskalis-Allseas consortium secures $1.4bn pipeline contract in Taiwan" was originally created and published by World Construction Network, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Zawya
2 days ago
- Business
- Zawya
Arabian Drilling fuels global expansion with first international offshore deal, UAE branch
Riyadh – Arabian Drilling has signed an agreement with a GCC-based company, marking its first offshore operation outside Saudi Arabia, according to a press release. The Saudi firm aims to expand its operations beyond its domestic market with a landmark geographical venture in line with its long-term strategy. Meanwhile, the operations are set to begin in the first quarter (Q1) of 2026 and will have an accretive impact on the backlog of SAR 75 million. The initial allocation of SAR 75 million is designated for the preliminary drilling of exploration wells within a period of five to seven months. This venture is expected to meet the challenges and capture the opportunities of the global market. Ghassan Mirdad, CEO of Arabian Drilling, commented: "Signing this contract signifies a strategic milestone for Arabian Drilling as it marks our first major step in expanding our operational footprint internationally.' "As we witness the unfolding events of this year, we are preparing to take significant steps to implement a major transformation with the aim of becoming a stronger and more flexible company, with a sustainable financial structure, and we look forward to facing the future with confidence, aiming to achieve long-term sustainable returns for our shareholders," Mirdad added. Meanwhile, Arabian Drilling launched a new branch in Sharjah to serve as a base for its regional operations within the GCC region and beyond. The UAE office is part of the company's strategic initiative to enhance its operational reach and service delivery in international markets. In February, the company inked a deal with Shelf Drilling Limited to deploy some of its premium jack-up rigs internationally. All Rights Reserved - Mubasher Info © 2005 - 2025 Provided by SyndiGate Media Inc. (
