Offshore Energy Today’s Post

🇦🇷 🚨 Argentina’s YPF to Merge LNG Project With Pan American & Golar Joint Venture Argentina’s state-run energy company YPF will join a venture being developed by rival shale driller Pan American Energy and LNG shipper Golar LNG, with its FLNG unit Hilli Episeyo, YPF President Horacio Daniel Marín said on LinkedIn. The merger of what have been two separate projects — one led by YPF, the other by PAE and Golar — would be key to helping boost production and exports in Argentina’s Vaca Muerta, the second-biggest deposit of shale gas in the world. YPF and Pan American, which is 50% owned by British oil major bp, are Argentina’s top oil and gas producers. Source ➡️ https://lnkd.in/giCCMtNg #LNG #YPF #FLNG #GolarLNG #PanAmericanEnergy #bp #vacamuerta #shale #HilliEpiseyo

🌊 WoodsideEnergy has commenced its US$7.2 billion Trion oil and gas project in the #GulfofMexico, celebrating the start of steel fabrication for the floating production unit (FPU). 👉 https://lnkd.in/dBG6pdty Woodside CEO Meg O'Neil described the steel-cutting ceremony as “an exciting moment” for the project team. It marks the beginning of a multi-year construction effort, with the first oil targeted for 2028. The Trion field, discovered in 2012 at a water depth of 2,500 metres, is jointly owned by Woodside (60% operator) and PEMEX Exploration & Production Mexico (40%). Originally advanced through a 2017 agreement between PEMEX and BHP Petroleum, the project transitioned to Woodside following its merger with BHP Petroleum. #EnergyDevelopment #TrionProject #GulfOfMexico #WoodsideEnergy #PEMEX #InnovationInEnergy

A Very interesting move by two of the major North Sea producers. Shell, Equinor to each own 50% of joint venture which will produce over 140,000 barrels of oil equivalent per day. It will be biggest independent oil producer in British North Sea, their output could rise to 220,000 boed in 5 years, Equinor says, No IPO plans, The majors will merge their British North Sea assets to form what is set to be the North Seas largest oil and gas company, the pair said on Thursday. The 50-50 joint venture, to be based in Aberdeen, Scotland, will pool the companies' resources and spending, and cut costs to boost the profitability of the assets. Equinor will also bring large tax savings while Shell's larger oil and gas production offers the venture higher cashflow as it develops new fields, including the giant Rosebank oil project. The deal is expected to be completed by the end of 2025. Harbour Energy (HBR.L), is the basin's top producer today with an output of 149,000 boed at the end of June. #OilandGas #NorthSea #JointVenture

💰Stakes continue to shuffle among partners as Block 3B/4B in Orange Basin #offshoreSouthAfrica awaits first drilling. Africa Oil Corp. has acquired 1.0% additional share from Eco Atlantic Oil & Gas subsidiary. 💭See what Roger Tucker, CEO, Africa Oil, has to say about the acquisition: https://zurl.co/haHAN #oilandgas #OrangeBasin #drilling

Predator Oil & Gas plc, a Jersey-based hydrocarbon explorer, has shared exciting news. Their Trinidad subsidiary, T-Rex Resources, has successfully acquired a majority shareholding (51%) in Caribbean Rex Limited. This strategic move marks a significant development in their expansion efforts. #OilandGas #Acquisition

Petrobras to Lead Brazilian Companies to #AEW2024 #Brazil’s state-owned oil and gas company Petrobras is leading a delegation of Brazilian companies to the #AfricanEnergyWeek (#AEW): Invest in African Energy conference – taking place November 4-8 in #CapeTown. The move follows a string of acquisitions made by Brazilian companies in Africa in recent months and aims to unlock new avenues for partnerships in #oil and #gas exploration and production. Read more here: https://lnkd.in/ewiiNUwj #AfricanEnergyWeek #AEW2024 #InvestInAfricanEnergy

Sintana Energy has secured a controlling interest in a partnership with Namibia's National Oil Company through its acquisition of Giraffe Energy, expanding its footprint in the highly productive Orange Basin region. 'This acquisition notably extends Sintana's footprint within this highly productive exploration region,' said Robert Bose, Sintana Energy's CEO. The company's successful partnership with Chevron on the Pel 90 and Pel 82 licenses in the Walvis Basin further strengthens their collaboration in Namibia. Recent exploration efforts on Pel 83 by Galp of Portugal have yielded substantial light oil discoveries at the Mopani prospect, with estimates exceeding 10 billion barrels. Galp plans a four-well campaign in Q4 2024, while Chevron is set to begin exploration activities on Pel 90. Sintana Energy's strategic positioning, strong partnerships, and dedicated team efforts have earned it recognition as the top energy company on the 2024 TSX Venture 50 list. #energyexploration #namibia #strategicpartnerships #oilandgas @sintanaenergy @chevron @galp_energia

#ICYMI Chevron's #capex spend in the #permian in 2025 will be between $4.5bn-$5bn, lower v 2024 as production growth is reduced in favor of #fcf. #shale #chevron

Shell, an oil and chemical group engaged in the exploration, production, transportation, refining, distribution and marketing of crude oil, gas, and petroleum products, completed the acquisition of RISEC, the owner of a 609-megawatt gas power plant in Rhode Island. Financial terms were not disclosed. This acquisition allows Shell to continue an energy supply agreement that has been in place since 2019 and secure long-term energy offtake from the plant, maintaining Shell's position in the ISO New England power market. The acquisition preserves SENA's current operations and mitigates market risk by ensuring a reliable and stable power generation source. RISEC was advised by Latham & Watkins (led by David Allinson and Daniel Williams). The Carlyle Group was advised by Barclays. #MergersAcquisitionsDivestitures #OilandGas #Petroleum

TotalEnergies is making divestments in blocks 2913B and 2912 to partner QatarEnergy after purchasing additional stakes from a third partner in the leases earlier this year. #oilgas #energynews #oilandgas