Oil & Gas
News & Press Releases
IEA Says that Global Oil and Gas Demand May Grow Until 2050
The International Energy Agency (IEA) said that global oil and gas demand could continue rising until 2050, signalling a shift from its earlier projections of a rapid move toward cleaner energy and acknowledging that the world is unlikely to...
Oil & Gas
AI integration in Oilfield Drilling Enhances Efficiency
The digital transformation of the oilfield sector, particularly in drilling operations, has shifted from a theoretical promise to a daily reality. Artificial intelligence (AI) now plays a persistent role in optimizing work that once depended largely on human experience...
America
Greenland’s Jameson Land Basin Reveals Massive Oil Potential
80 Mile Plc and its U.S. partners March GL and Pelican have confirmed a substantial oil resource discovery in Greenland’s Jameson Land Basin, following an independent assessment by Sproule ERCE. The report estimates 13.03 billion barrels of gross un-risked...
Companies
Aramco, Baker Hughes Enter Deal for UBCTD Expansion in Saudi
Baker Hughes, an energy technology company, announced that it has received an award from Aramco to broaden its integrated underbalanced coiled tubing drilling (UBCTD) operations throughout Saudi Arabia’s natural gas fields.
Under the multi-year arrangement, Baker Hughes plans to grow...
Companies
Chevron, Helleniq Win Greece Offshore Gas Exploration Blocks
Greece has confirmed that it will award four offshore oil and gas exploration blocks to a consortium led by Chevron, marking a key development in the nation’s ongoing efforts to expand its domestic energy exploration. Following a period of...
Africa
Egypt Government Unveils $5.7bn Oil and Gas Exploration Plan
Egypt’s Minister of Petroleum and Mineral Resources, Karim Badawy, has announced a new five-year oil and gas exploration strategy that calls for the drilling of about 480 exploration wells, backed by total investments surpassing $5.7bn.
Under the programme, 101 wells...
Companies
Equinor Launches Production at Brazil’s Bacalhau Oil Field
Equinor, together with partners ExxonMobil Brasil, Petrogal Brasil, and Pré-sal Petróleo SA, has started production at the Bacalhau oil field in Brazil. With recoverable reserves exceeding 1 billion barrels of oil equivalent (boe), Bacalhau is the largest international offshore...
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