Chimera Advisory’s Post

🌟 News for the Energy Sector bp plc has officially announced a groundbreaking investment in the Kaskida Project in the Gulf of #Mexico. This ambitious venture will mark BP's sixth production hub in the region, emphasizing the company's ongoing commitment to harnessing the potential of the Paleogene in the Gulf of Mexico. Here are some key highlights: 🔸 Production Capabilities: The state-of-the-art floating platform is set to commence operations in 2029, with an initial production capacity of 80,000 barrels of crude oil per day from six wells. 🔸 Strategic Location: Positioned in the Keathley Canyon, the Kaskida Project is poised to unlock a massive potential of 10 billion barrels of discovered resources, reinforcing BP's strategic access to key markets and the stability of fiscal regimes in the area. 🔸 Advanced Technology: BP will employ cutting-edge 20K drilling technology, which will be important in safely and efficiently exploring an estimated 275 million barrels of oil equivalent resources. 🔸 Future Expansions: The project also opens the door for potential future phases, including projects like Tiber, aiming to maximize efficiency and reduce costs by leveraging existing platform designs for simpler construction and operation. This investment underscores BP's confidence in the region's potential and its dedication to advancing energy production capabilities. Stay tuned for more updates as this exciting project progresses! Puedes leer la noticia en español en el documento Adjunto y este escrito en la parte de abajo 👇 en Traducir de #LinkedIn #EnergyNews #BP #KaskidaProject #GulfofMexico #OilIndustry #Innovation #Sustainability #Petrorenova

👏👏👏 another significant development! Congrats bp and OneSubsea #BP and #SLB #OneSubsea have taken a significant step forward with the #Kaskida project in the deepwater GoF. By securing a contract for a subsea boosting system, OneSubsea will supply high-pressure subsea pumps and integrated power and control umbilicals. It’s amazing - This technology will enable the extraction of up to 80,000 barrels of crude oil per day from six wells in the initial phase. The Kaskida field holds approximately 275 mil boe in recoverable resources, unlocking the potential for 10 bi barrels of discovered resources across the Kaskida and Tiber areas. Why this is key? 🤔 With production set to commence in 2029, this project exemplifies BP's commitment to strategic growth in the Gulf of Mexico, leveraging advanced technologies for maximum efficiency and minimal energy consumption. The partnership between BP and SLB OneSubsea underscores the importance of collaboration and innovation in the energy sector, ensuring sustainable and impactful development in one of the most promising regions. 👍Next steps involve the completion of engineering and procurement, followed by the construction and installation phases, leading to the eventual start of production. This milestone not only boosts BP's production capacity but also contributes to the global energy landscape. #insightspablocosta Source: https://lnkd.in/d8UFmM5u

#oil #Gabon Oslo-listed oil and gas E&P player BW Energy has struck oil at a pilot appraisal well located on a field in the Dussafu license off the coast of Gabon. The drilling activities were carried out with a jack-up rig owned by Borr Drilling, an offshore drilling contractor. According to the Oslo-listed player, the DHIBM-7P well will be completed as a production well later in 2024, just like the DHBSM-2P well at the Hibiscus South field, which was drilled to test a possible northeastern extension of the field, after the DHBSM-1H production well was started production in March. Targeting the Hibiscus and Ruche fields in Gabon, BW Energy’s Hibiscus/Ruche development project is designed to produce oil, which is then transported by pipeline to the FPSO BW Adolo for processing and storage before being offloaded to export tankers. Source: #offshoreenergybiz 👇👇👇 https://lnkd.in/eyE_jsnp

🌍 Energy Milestone in Namibia! 🌍 Galp Energia’s Santorini drillship has anchored off Namibia, prepared to unlock vast oil and gas resources in the Orange Basin. This ultra-deepwater mission, backed by cutting-edge well-control systems and robust crew accommodations, is set to shape Namibia’s energy future. With an estimated 10 billion barrels in sight, Galp is advancing its vision to lead sustainable energy development in the region. Read how this move could impact Namibia’s energy landscape and why Galp’s investment in the Mopane Complex is drawing global attention. 👇 #GalpEnergia #SantoriniDrillship #OilExploration #NamibiaEnergy #OrangeBasin #DeepwaterDrilling #EnergyIndustry #OilGasDiscovery #OffshoreDrilling #ExplorationCampaign #NamibiaOil #EniGroup #Saipem #EnergyInvestments #BCS

Côte d’Ivoire M&A Alert! Independent VAALCO Energy, Inc said it is in discussions to acquire Svenska Petroleum Exploration AB. Svenska’s sole production (approx. 4,500 bbl/d) comes from its 27.39% stake in the mature, Canadian Natural Resources Limited (CNRL)-operated Baobab heavy oil project in deepwater Block CI-40. VAALCO said any deal would be a debt-free corporate transaction funded by cash in hand, but stressed that no agreement had been reached thus far. The Houston based E&P has existing production in Sub-Saharan Africa from the Etame Marin project offshore Gabon. It is also developing the Venus oil field on Block P offshore Equatorial Guinea and has producing assets onshore Egypt and Canada. If the deal is successful, VAALCO will follow Murphy Oil Corporation, which entered Côte d’Ivoire in 2023. The region is on the radar of US independents.

(Yet another) Namibia Farm-in Alert! Azule Energy is going international and entering the red-hot Orange Basin with a deal to acquire 42.5% in Block 2914A (PEL85) from Rhino Resources Ltd (42.5%). The company has been exploring in Namibia for over a decade and has acquired 1,700 km2 of 3D seismic on the block. The agreement gives Azule Energy an option to become operator. Local partners are NAMCOR NAMIBIA (10%) and Korres Investments (5%). The block has a great postcode – it is immediately south of Galp's giant Mopane discovery and northwest of Shell's Jonker, Graff and Enigma finds. Azule Energy, an independent JV created when bp and Eni merged their Angolan operations in 2022, marks its first international deal with the Namibian farm-in. Nearby Namibia is a logical next step for the company. The new partnership plans to drill two exploration wells on PEL85, with the first well expected to spud at the end of 2024.

Peru Boosts Oil Production with USD$800 Million Investment! New Peruvian-American Consortium Takes Over Lot X, Talara Peru's national oil company, Perupetro, has awarded a license contract for hydrocarbon exploitation in Lot X, Talara, to a consortium comprised of Aguaytía Energy, Termoselva, and Offshore International Group. This investment of USD$800 million signifies a significant boost to Peru's oil production efforts. The consortium plans to drill an additional 440 development wells over the 10-year license period, surpassing the initial requirement of 704 wells. This ambitious drilling program aims to revitalize production in Lot X, aiming to reach an average of 10,000 barrels per day (bpd) – a 30% increase in Peru's national output. Key Detailed: ·      Project: Lot X hydrocarbon exploitation contract awarded in Talara, Peru ·      Companies: Perupetro (licensing authority), Consortium (Aguaytía Energy, Termoselva, Offshore International Group) ·      Investment: USD$800 million by consortium over 10 years ·      Impact: Increased oil production in Lot X ·      Drilling: 440 additional development wells planned (surpassing initial requirement) ·      Production Target: 10,000 bpd (30% increase in national output) ·      Timeline: Operations begin May 20, 2024, replacing current operator CNPC ·      Additional Notes: Perupetro retains a 40% stake in the license contract. #Peru #Perupetro #AguaytiaEnergy #Termoselva #OffshoreInternationalGroup #LotX #Talara #OilAndGas #Investment #Production #Consortium #Energy #Development

Technip Energies and KPSP (Karaganda Promstroyproekt LLP) have signed a long-term services agreement with Karachaganak Petroleum Operating B.V. (KPO) to develop the #Karachaganak_Field in northwest Kazakhstan. The five-year agreement, facilitated through the joint venture TKJV Limited Liability Partnership, covers a wide range of services from consulting to detailed engineering. This project aims to optimize and expand the existing facilities of one of the world's largest oil and gas condensate fields. Charles Cessot, SVP of T.EN X Consulting and Products, commented: "We are delighted to strengthen our relationship with KPO through this engagement. The trust placed in us for this project demonstrates our expertise and operational quality for many years in Kazakhstan. This project aligns perfectly with our ambition to provide cutting-edge and efficient consulting services.” Nour Abou Jaoudé, CEO & Chairman of TKJV Limited Liability Partnership, declared: “This is a collaboration for success. We are deeply honored and humbled by the trust that KPO's CEO, Mr. Marco Marsili, and H.E. the Minister of Energy of the Republic of Kazakhstan, Almassadam Satkaliyev, have bestowed upon us. We are fully committed to supporting the localization of complex engineering services as part of the country’s ambitious local content development plans and specially on such an important project for the Kazakh energy sector and economy.” Read more: https://lnkd.in/eUsTkjet #EnergyDevelopment #Karachaganak #KazakhstanOil #TechnipEnergies #KPO #EngineeringExcellence #OilAndGas #JointVenture #SustainableEnergy #LocalContent #KazakhstanEconomy #KIOGE

Senegal achieves first oil from Sangomar Project https://lnkd.in/d6tf5MFC - The Cooperator News JOHANNEBURG, June 12, 2024 – Exploration and production company Woodside Energy has achieved first oil production at Senegal’s inaugural offshore oil project – the Sangomar field development. This milestone underscores the effective collaboration between Woodside Energy and Senegal’s national oil company Petrosen, demonstrating their shared commitment to advancing energy security and industrialization across the MSGBC region. The African Energy Chamber [AEC] – the voice of the African energy sector and a strong advocate for oil and gas development in Africa has applauded the project partners for reaching this historic milestone. First oil production is poised to drive new opportunities for …