Known as Eldfisk North, the development is part of the wider Ekofisk area in the Norwegian North Sea, where ConocoPhillips has pumped hydrocarbons for more than 50 years. The U.S. operator said the new reserves are expected to come onstream in 2024.
The new PSA would be needed to move new projects to the development phase.
“The production start-up of the first permanent FPSO in Libra block is a new milestone for TotalEnergies in Brazil,” CEO Patrick Pouyanné says.
ConocoPhillips is being questioned by lawmakers asking why it took a month for the company to identify and control leak in an Alaskan oilfield.
The three new discoveries offshore Guyana increases Exxon Mobil’s estimate of the recoverable resource for the Stabroek Block to nearly 11 billion oil-equivalent barrels.
Although Santos has been locked in a battle with ConocoPhillips over access to an Alaskan road for its Pikka oil project, Santos said the dispute would not slow down the company's work on the project.
Shell, TotalEnergies and 3R Petroleum were three of 13 companies that won contracts in an April 13 auction for 59 exploratory blocks of oil and natural gas in Brazil.
Eni also signed a deal earlier on April 13 to increase gas production in Egypt and boost LNG supplies to Europe as the continent tries to cut its reliance on Russian gas amid the war in Ukraine.
Hunting’s Direct Pull-Through installation methodology is intended to simplify installation and enhance safety during project execution for the Yellowtail development—Exxon Mobil’s fourth, and largest, project within the Stabroek Block offshore Guyana.
In the three-year pilot stage, Chevron plans to invest $65.7 million to drill, complete and commission five horizontal wells in the Vaca Muerta Shale formation. In addition, the oil major will invest $13 million in infrastructure.