The Energy Year’s Post

We've received approval from SKKMigas, the Indonesian regulator, for an additional 14 new oil development wells in the PB field within the Mahato Production Sharing Contract. This Phase 2 development also includes converting one existing production well to a water injection well and constructing three new drilling locations. Additional infrastructure such as production facilities and in-field pipelines will be built to support the expanded operations. The drilling of the first well under this program has already commenced, marking the initial phase of a 12-18 month development timeline. The economics of the Mahato wells are attractive, with development costs recoverable under the PSC terms. Currently, there are 22 active oil production wells in the PB field, with current production exceeding 6,000 barrels of oil per day, which is exported through shared pipeline infrastructure without anticipated capacity constraints. Read the full ASX Announcement here: https://lnkd.in/gqrmHxsR #CUE #CueEnergy #oil #gas #oilandgas #ASX #ASXnews #miningnews

Brazil will see increased drilling activity in 2024-30, mainly offshore, to support considerable growth output, according to a study by Abhinav Parashar, senior analyst at Rystad Energy. The country is currently the seventh biggest crude producer in the world and will join the top five by the end of the decade, Rystad projects. Some 600 offshore wells are forecast to be drilled from 2024 to 2030, led by federal oil firm Petrobras, which will account for almost 70% of total offshore wells to be sunk in that period. Tap the BNamericas link below to see the detailed figures. https://lnkd.in/dvRWGYs4 #energy #drilling #oil #oilandgas #offshore #onshore

Asia-Pacific is poised to expand #refining capacity by 2026, driven by various projects currently underway. The anticipated growth amounts to 3.3 million barrels per day (MMBD), with a mix of #grassroots refinery projects and expansions contributing to the boost. https://buff.ly/3Ufnv9g #oilandgas #energyindustry #crudeoil #oil #refiningcapacity #stratasinsights

⚠️ Breaking News ⚠️ A block of 23.4 million shares in Odfjell Drilling, controlled by Helene Odfjell and family, has been sold for $112.1 million, reducing their stake to 49.85%. This sale aims to boost liquidity and diversify their portfolio, while the family remains committed as long-term shareholders. Read more 👉🏼 https://lnkd.in/dDefPNkY #OdfjellDrilling #OffshoreDrilling #EnergyMarket #InvestmentNews #OilAndGas #EnergyNews #OilAndGas #OffshoreDrilling #Energy #OffshoreLife #OilandGasNews #Offshore #DrillingNews #EnergySector #Oil #Gas #Drilling #HSE #OilfieldStrong #Drilling #OilRig #Aberdeen, #UnitedKingdom #UK

bp begins oil production from key field offshore Azerbaijan The Azeri Central East (ACE) project, valued at $6bn (10.2bn manat), is the seventh platform in the Azeri-Chirag-Gunashli (ACG) field. British energy giant bp has commenced oil production at the new ACE platform in the Azerbaijan sector of the Caspian Sea.  The ACE project, valued at $6bn, is the seventh platform in the ACG field, which has been a major source of oil since 1997. It is designed to process up to 100,000 barrels per day (bpd) and is projected to yield around 300 million barrels over its lifespan. BP regional president for Azerbaijan, Georgia and Turkiye Gary Jones said: “This successful start-up is testament to the ongoing close collaboration between bp, SOCAR and the Government of Azerbaijan, together with the support of our partners.  For the full article click the link below: https://lnkd.in/eU9PxbQh #offshore #energy #oilgas #oilandgas #oil #future #power

Congratulations Mari Petroleum Company Limited on an oil discovery at exploratory well Shawal-1, in Mari D&PL, Daharki, Sindh. The well has successfully surfaced HCs (~ 1,040 BOPD along with 2.5 MMSCFD of associated gas at a WHFP of 953 Psi) from the Ghazij Formation, while testing. The first-ever oil discovery in Mari D&PL; a predominantly Gas field. We appreciate Mari Petroleum Company Limited commitment towards meeting rising energy demand in the Country, through both aggressive exploration & production optimization strategy. #Discovery #Oil ✌️❤️ #Directorate_General_of_Petroleum_Concessions #Regulator #Upstream #OilandGasIndustry #Energizing_The_Nation

Drilling for domestic energy #oilandgas #oilandgasindustry #oilinvesting #potentialmonthlyincome #taxadvantages #diversifyportfolio #investing #taxbenefits #loweryourtaxburden #alternativeinvestments #energyindependence

In Shona dialect, chigwedere means ‘disruption’ and this is exactly what Chigwedere Petroleum and Energy Corporation has set out to do. In a sector dominated by major international conglomerates, CPEC has set out to make a name for itself by introducing an innovative strategy to address the #oil and #petroleum needs in the #MiningSector. Read more: https://lnkd.in/dyAFHzAN

Get a glimpse of our recent feature in the first issue of Mining Review Africa, distributed at the Investing in African Mining Indaba 2024. Get to know the story of our young company that is ready to "Chigwederize" (Disrupt) the African oil and gas sector.