Industry News

BP has received final government ratification for its contract to invest in the redevelopment of several giant oil fields in Kirkuk, in the north of Iraq. The contract between North Oil Company (NOC), North Gas Company (NGC) and BP includes the rehabilitation and redevelopment of the fields, spanning oil, gas, power and water with potential for investment in exploration.The final agreement was signed in a meeting in Baghdad with Iraq Prime Minister H.E. Mohammed Shia’ Al Sudani, H.E. Hayan Abdul Ghani, Deputy PM for Energy Affairs and Minister of Oil, and BP Chief Executive Murray Auchincloss, together with Nader Zaki,

Baker Hughes has signed a multi-year integrated completions systems contract with Petrobras. The completions technologies, combined with conventional upper and lower completions solutions, will provide remote operations capabilities and multi-zone control, limiting water and gas breakthroughs and reducing the risk of any costly interventions.“Deepwater, high pressure wells require an unmatched level of reliability, and our completion technologies have proven themselves in these harsh environments,” said Amerino Gatti, EVP, Oilfield Services & Equipment at Baker Hughes. “Through continual innovation, improvement and testing, and in close collaboration with Petrobras, the Baker Hughes team has pioneered new ways to help develop Brazil’s natural

AIQ signed a $340 million contract with ADNOC to deploy ENERGYai and associated AI solutions across ADNOC’s upstream value chain. Over the three-year contract term, AIQ will complete the roll-out of ENERGYai to all ADNOC’s upstream assets, comprising more than 28 producing fields.ENERGYai combines large language model (LLM) technology with agentic AI, which is trained for the workflows across ADNOC’s upstream value chain. Developed by AIQ with ADNOC experts, in collaboration with G42 and Microsoft, ENERGYai will integrate Azure cloud stack, agentic AI platform functionality, Open Subsurface Data Universe framework (OSDU) and OpenAI models.The first operational, scalable version of ENERGYai

BW Energy made a substantial oil discovery with good reservoir quality on the Bourdon prospect in the Dussafu license offshore Gabon.Evaluation of logging data and formation pressure measurements confirm approximately 34 m of pay in an overall hydrocarbon column of 45 m in the Gamba formation, making it the largest hydrocarbon column discovered to date in the Dussafu licencse. The well was drilled by the Norve jackup rig to a total depth of 4,135 m.The discovery will enable the Company to book additional reserves not included in its 2024 Statement of Reserves.Carl K. Arnet, CEO of BW Energy, noted, “We

Vaalco Energy has farmed into the CI-705 block offshore Côte d’Ivoire. Vaalco will become operator of the block with a 70% working interest and a 100% paying interest though a commercial carry arrangement and is partnering with Ivory Coast Exploration Oil & Gas SAS and PETROCI.The CI-705 block is located in the prolific Tano basin and is approximately 70 km to the west of Vaalco’s CI-40 Block, where the Baobab and Kossipo oil fields are located, and 60 km west of Eni’s recent Calao discovery. Block CI-705 covers approximately 2,300 sq km and is lightly explored with three wells drilled

EON Resources has completed a “preliminary assessment” of the horizontal potential of the lower San Andres (Jackson and Slaughter) reservoirs in the Grayburg-Jackson Field that it operates in Eddy County, New Mexico.This preliminary assessment reveals possible recovery of an additional 20 million barrels of oil and 16 billion cu ft of natural gas in the lower intervals of the San Andres. The company’s current, on-going waterflood program has proven reserves of 15 million barrels of oil and 3 billion cu ft of natural gas.This preliminary assessment is the first step in an ongoing, comprehensive, multi-disciplinary analysis of the field incorporating

Esso Australia announced a nearly $200 million dollar investment in the Kipper 1B Project, which will bring online much-needed additional gas supply from the Gippsland Basin.The project, which was approved by Esso, Mitsui, and Woodside , will utilize the VALARIS 107 jackup rig to drill and install one subsea well into the Kipper field, and involve significant upgrades to the West Tuna platform.Kipper 1B follows the completion of the recent Kipper Compression Project, and the West Barracouta project that came online in 2021.Drilling into the Kipper field is set to begin later this year, with upgrades to the West Tuna

The Petrobras FPSO Almirante Tamandaré (Búzios 7) has started production in the Búzios field, located in the pre-salt layer of the Santos Basin. This is the first high-capacity unit to be installed in the field, with the potential to produce up to 225,000 barrels of oil per day (bpd) and process 12 million cu m of gas daily.In total, 15 wells will be connected to the platform through a subsea infrastructure, including seven oil producers, six water and gas injectors, one convertible well (producer and injector) and one gas injector.The FPSO Almirante Tamandaré is part of the sixth production system