Oilfield services firm Baker Hughes Co. said on Jan. 3 it has won a contract to provide carbon dioxide compression equipment to Petronas' Kasawari offshore carbon capture project.
The project is expected to be the world's largest offshore carbon capture and sequestration facility, the companies said.
Baker Hughes will provide turbocompression equipment to transport CO2 emitted from flaring at the Kasawari gas development and reinject it into a depleted offshore field through a subsea pipeline.
The contract will be booked in Baker Hughes' fourth quarter results, according to the company.
US Shale Basins Boast $54/bbl Average Breakeven Price
2023-03-24 - The average full-cycle breakeven for U.S. shale basins is approximately $54/bbl, while the average for public E&Ps and private operators is $53/bbl and $58/bbl, respectively, Wells Fargo said, citing Rystad Energy data.
Dawson Geophysical Purchases Seismic Firm Breckenridge Geophysical
2023-03-24 - Wilks Brothers-controlled Dawson will purchase Breckenridge Geophysical — owned by Wilks Brothers — in an all-stock deal worth more than $10 million.
Oil is Sticking Around, Rystad and WoodMac Say
2023-03-24 - Rystad Energy and Wood Mackenzie executives said during an AAPG-Energy Opportunities event in Mexico City that oil will still be needed through 2050 and that the energy transition will take time.
Investors Waiting Out AMLO’s Tenure, Eyeing Future Mexican Leader
2023-03-24 - Energy investors in Mexico continue to wait out the tenure of President Andrés Manuel López Obrador, which comes to an end next, with an eye on a new leader and potential policy changes.
Wave of New LNG Export Plants Threatens to Knock Gas Prices
2023-03-14 - "When you hear people say 'there is no way we will overbuild this,' that's when things get over-built," said Alan Armstrong, CEO of U.S. gas pipeline operator Williams Cos., which supplies gas to LNG exporters.