Industry News

BP has reached a final investment decision on the Tiber-Guadalupe project in the Gulf of Mexico. The 100% BP-owned Tiber-Guadalupe will be the company’s seventh operated oil and gas production hub in the Gulf of Mexico, featuring a new floating production platform with the capacity to produce 80,000 barrels of crude oil per day.The project includes six wells in the Tiber field and a two-well tieback from the Guadalupe field. Production is expected to start in 2030.Tiber and Guadalupe fields are estimated to have recoverable resources of around 350 million barrels of oil equivalent from the initial phase. Additional wells

Saipem received authorization by ExxonMobil to proceed with the execution of the activities provided for the engineering, procurement, construction and installation (EPCI) offshore contract for the development project of the Hammerhead oil field, located in the Stabroek block off Guyana at a depth of approximately 1,000 m. The contract value is approximately $500 million.Saipem’s scope of work includes EPCI of subsea, umbilical, riser and flowline (SURF) structures for the production facility and the gas export system related to the Hammerhead oilfield development project located about 200 km from the Guyanese shore.Saipem will carry out the operations using a variety of

Weatherford was awarded an eight-year contract by Romgaz to deliver services for real-time monitoring and transmission of dynamic parameters from the wellheads of gas wells, improving production optimization through digital and AI-enabled insights.Under the agreement, Weatherford will partner with Romgaz to implement a wellsite monitoring campaign across thousands of existing wells. Weatherford technology will acquire critical data from field locations to provide Romgaz with key information for production decisions. This information will guide in-field, Weatherford-supplied automated infrastructure to deliver Romgaz’s goal of production optimization.（2025-09-25）

SLB signed a definitive agreement to acquire RESMAN Energy Technology. RESMAN’s chemical tracers provide precision and accuracy in tracking water, gas, oil and CO₂ movement within reservoirs and wells to deliver insights and optimize production and recovery.RESMAN’s tracer technology enables operators to monitor reservoir flow without disruption, offering accuracy at parts per trillion (ppt) detection levels. These insights are vital for well performance and reservoir monitoring across oil and gas, CO₂ storage and geothermal applications, helping operators enhance production and improve recovery.Production tracers can be integrated with completion equipment at the sand face to identify zones producing unwanted fluids. This

Westlawn acquired a 30% non-operated working interest in the Z-61, Z-62 and Z-63 blocks offshore Peru pursuant to a farm-out agreement signed previously between Westlawn and Anadarko, a subsidiary of Oxy.Oxy will remain the operator of the three blocks, holding a 35% working interest. Chevron acquired the remaining 35% working interest in the blocks.（2025-09-23）

Melbana Energy reported that drilling of the Amistad-2 production well began in Cuba in the early hours of Thursday, 18 September. Amistad-2 is planned to be drilled to a total depth of 1125 m measured depth.The Unit 1A formation will be logged, but not tested, en route. A 650-m measured depth section of the Unit 1B formation will be drilled to intersect a series of natural fracture systems interpreted from seismic. The geological target is approximately 850 m southwest of, and 200 m up-dip to, Alameda-2 in a location near the crestal-axis of a localized anticline, which is interpreted to

TotalEnergies signed four production sharing contracts for the LB-6, LB-11, LB-17 and LB-29 exploration blocks offshore Liberia, which were awarded following the 2024 Direct Negotiation Licensing Round organized by the Liberia Petroleum Regulatory Agency.The blocks, covering an area of approximately 12,700 sq km, are located in the south of the Liberia Basin. The work program includes acquiring one firm 3D seismic survey.（2025-09-19）

On 4 September, Nabors Industries unveiled X33, the first of its Pace-X Ultra land rigs, which will be deployed to South Texas in October to work for Caturus. The rig was upgraded to help Caturus drill four-mile laterals, reduce flat time and maximize efficiency. Key upgrades include a 10,000-psi high-pressure mud system, a 35,000-ft racking board and a 1 million-lb hook load capacity.In this video, DC spoke with Josh Price, VP of Operations at Nabors, about the initial discussions between the contractor and operator on the upgrades and the development of the rig. DC also spoke with Ashish Gupta, VP