New oil & gas exploration and production ops as 'energy dominance' plays Russian roulette with renewables

Several offshore energy projects have made inroads and reached new milestones, especially in the oil and gas arena, where exploration and production run the energy show, with start-ups bringing more hydrocarbons to global markets. Greener alternatives to fossil fuel darlings are not anticipated to do as well in some regions like the U.S. where renewable and clean energy flourished in the same period just a year ago. Turbulent times seem to be in store on multiple global fronts, ranging from minor disturbances and changes in some regions and markets to drastic overhauls in others. The stakes are high as risk factors multiply across geopolitics, economy, trade, and energy spheres, undermining stability, despite the U.S. promise of 'abundance' for the last item on the list of key affected threads in the global net. This net appears to be unraveling or at best reshaping its previously entombed set of principles on the rule of law, security, and safety to make room for something else. Whether something sinister or better this way comes to be borne out of such changes remains a mystery.

??Shell-BP merger: Wishful thinking or real possibility?

Before diving into the latest legal conundrums in the U.S. and their implications on global markets, one of the rumors that had the energy sector abuzz over the past few days is the one about an alleged merger between two oil majors. Lately, speculation has been running rampant over a potential business combination between Shell and BP. This is not the first time such rumors started circulating regarding these two UK-headquartered energy giants but the latest one comes at a time when BP has been experiencing a prolonged spell of lower profit and investor frustration.

While such a move has the potential to reshape the global oil, gas, and LNG landscape by forging a giant truly able to compete with rivals in U.S. and elsewhere, the completion of this type of mega consolidation would likely be flagged for an uphill battle given the antitrust laws that are in place to prevent market monopoly and stop combinations that have the ability to substantially lessen competition. What do the industry and energy market connoisseurs have to say about such a move?

An interesting take on the Shell-BP merger rumors came from John MacArthur, Director of Highland Sustainability, who is Senior Advisor Industry Pathways for the World Business Council for Sustainable Development (WBCSD). MacArthur has a rich career history and has served as ADNOC's first-ever Group Climate Change Officer after his more than two-decade-long stay with Shell in various roles internationally, one of the most recent being Shell's first Chief Carbon Engineer.

MacArthur emphasized: "The opportunity is to create a 壳牌 - bp tie-up with ~$300 billion market cap to compete with US rivals and others. The merger could enhance operational efficiencies, streamline costs, bolster complementary reserves portfolios, and dilute shared investment risk in energy transition upside."

Ilham Shaban, a partner in Baku-based consultancy Caspian Barrel, outlines that BP's share price has dropped 2% over the past year with market capitalization going down to ￡74 billion, yet Shell's has gone up by 9%, hitting ￡164 billion. According to him, the merger between the two UK-based firms would allow the new energy heavyweight to surpass Chevron in market capitalization.

Shaban pointed out: "The possibility of BP being acquired by Shell has been discussed in the past, particularly in 2012, when BP was considered a potential target for acquisition by companies such as ExxonMobil and Shell. However, as of February 2025, there is no confirmed information about such plans or negotiations.

"A merger of such large energy companies would require careful consideration of multiple factors, including antitrust regulations, strategic objectives, and shareholder approval. Without official statements or reliable sources confirming such intentions, it is difficult to assess the likelihood of such an acquisition."

Furthermore, MacArthur also highlighted AI and underlined: "Should we put AI at the centre of the energy transition to develop secure, affordable connected energy, and to design energies for the future to take humanity to Mars and beyond? A merger between Shell and bp presents a unique opportunity to create a global energy titan with such game-changing imagination. This merger may not come to fruition, but it represents an opportunity to redefine and launch the future of energy."

???? America's 'loaded weapon' and law & order

The global energy ecosystem and its players seem to be at a crossroads, as the gap continues to widen between those wanting more oil and gas and the ones demanding a swift pivot to clean energy. Before returning to the White House, U.S. President Donald Trump vowed to unleash American 'energy dominance' not just within the nation's borders but also across the globe, positing the U.S. at the top of the global energy pyramid. While some of his policies and moves are accepted more readily than others that tend to be criticized and shunned, after talking the talk, Trump is making strides to walk the walk come hell or high water.

Under his leadership, the U.S. keeps cutting red tape by slashing regulations that stood in place before his return. Many around America and the world are convinced that Trump's 'energy abundance' promise could be the key to strengthening energy security, but only if sources from the clean camp, such as offshore wind, are included alongside their fossil fuel brethren. Ever since his return, President Trump has faced growing unrest and opposition over undermining the fastest-growing clean energy duo, solar and wind power, in the U.S. but nothing has shaken his determination to bar the growth doors for the anticipated clean energy bonanza, especially the contribution stemming from wind.

Against such a backdrop, some offshore renewable energy projects are still in the game, as illustrated by New York's blessing given to Equinor to put in place the 816 MW Empire Wind 1 offshore wind project's offshore and onshore transmission facilities. While Trump has presidential immunity under domestic law thanks to what in Justice Sotomayor's dissent has been flagged as “new official-acts immunity," which "lies about like a loaded weapon for any President that wishes to place his own interests, his own political survival, or his own financial gain, above the interests of the Nation,” he is not exempt from the rules of international law, as shown by heads of state that are facing arrest warrants such as Vladimir Putin, Russia's President, and Benjamin Netanyahu, Israel's Prime Minister.

The rule of law exists to ensure no one is above the law, leaving no room for a 'grey' area between official and unofficial conduct, which is applicable in theory but rarely gets properly pursued and implemented in practice against powerful individuals and high-ranking government officials. In its stead are myriads of 50 fifty shades of grey in all their nuances.

According to the White House, Trump's executive order from Friday, February 14, 2025, will give birth to the National Energy Dominance Council chaired by the Secretary of the Interior Doug Burgum and vice-chaired by the Secretary of Energy Chris Wright with members coming from President Trump’s cabinet and key government agencies, to position American energy for the next century by improving the processes for permitting, production, generation, distribution, regulation, and transportation across all forms of American energy.

Furthermore, the U.S. President is determined to curtail prices and strengthen American economic security by championing domestic energy production as a vital ingredient in mitigating price shocks and de-risking the energy supply chain for America and its allies. With policy consistency at the forefront, steps will be made to enhance private sector investments, advance innovation, expand energy production, and address cost barriers. By revoking the Biden-Harris administration's federal oil leasing moratorium, decreasing energy permitting times, and putting back in circulation hundreds of million acres for energy production, President Trump aims to develop American energy resources that will enable the nation to curb its reliance on foreign entities.

The White House underscored: "As our Nation makes rapid advancements in next generation technologies, such as artificial intelligence (along with the associated data centers), and energy demand rises, it will be all the more important to expand domestic energy supply. American energy leadership is vital not only for our Nation’s economic and national security, but also for the security of our allies.

"America’s liquefied natural gas (LNG) industry has played a critical role in helping Europe reduce its dependence on Russian energy, with LNG exports to Europe rising 141% in 2022, and continuing to increase to fill the gap. President Trump warned Western Europe as early as 2017 to rely on American natural gas rather than Russian energy."

While President Trump is set on empowering American energy production, renewables appear primed for an uphill battle to secure their spot on the new energy policy menu. To this end, Representative Jen Kiggans (R-VA) and Director of Port Fourchon, LA Chett Chiasson pointed out how the oil & gas and offshore wind industries complement each other, bringing transferable jobs, shipbuilding, and manufacturing to communities across America, as offshore wind is part of an 'all-of-the-above' energy approach, the Trump administration seems so keen on pursuing.

“America should lead in every form of energy. Our Governor and our Commonwealth has adopted an ‘all of the above energy approach’ so we’re very open-minded, especially in my district,” underlined Rep. Kiggans.

The first environmental lawsuit against the Trump administration was filed this week and Earthjustice has vowed that it will not be its last. The team at Earthjustice elaborates that it is suing to restore protections to millions of acres of public waters that President Trump is attempting to "illegally" open to offshore drilling.

Earthjustice stated: "Every other president this century has protected these coastlines, but on his first day in office President Trump signed an executive order dismantling those protections. Nearly 40% of Americans live near a coastline where their health and economic stability are tied to waters that could be exposed to oil and gas development. This is an illegal move that puts Americans in danger. We stopped a similar attempt during Trump’s first administration, and we’re prepared to do it again."

Meanwhile, many have taken steps to forty ties with America by buying more U.S. energy, including Japan's gas lobby, which sees Trump's energy push as a way to cut LNG costs, as increasing US production of the fuel could lead to lower import prices. After many warned about trade wars that would ensue as a result of proposed tariff moves, Trump seems to have now settled on 'reciprocity' as the policy to be implemented.

With Trump seemingly abandoning the old world order by ratcheting the tariff threat level against Americas' closest allies, many economists worry about stagflation, and security experts are also embroidering Pax Americana into the tariff scheme and geopolitical upheavals, alongside other measures that were taken to dismantle certain landmarks of U.S. foreign and domestic policy.

Aside from tightening the purse strings for academic institutions, the new U.S. administration is being accused of undermining democracy at home and abroad by cutting off funding and doing its utmost to axe USAID, the U.S. main foreign aid agency, with the State Department switching off the funding taps for democracy and human rights-focused programs both across the U.S. and around the globe.

Given all the moves made in less than a month since Trump returned to the White House, USAID, the main foreign aid agency, and the State Department have halted funding for democracy and human rights-focused programs. As a result of such moves, Public Citizen filed seven legal challenges, with more said to be on the way to confront the Trump administration.

Public Citizen emphasized: "From the moment we responded to Trump’s re-election with our plan to confront him, we’ve received messages of appreciation — in equal parts for having a plan and for giving hope. Then, from the time we filed our first Trump lawsuit within minutes of his inauguration, the outpouring has been overwhelming.

"From all over the country — and all over the world — people have expressed their appreciation that someone is standing up to authoritarianism and for decency. For trying to stop at least some of the destruction and cruelty and corruption."

• Lawsuit #1 — Elon Musk’s Department of Government Efficiency (DOGE) allegedly operating unlawfully, with a hearing yet to be scheduled.
• Lawsuit #2 — DOGE 'invades' U.S. Treasury Department prompting lawyers to file a motion for a temporary restraining order, which was issued on February 6, restricting two Musk-connected men already housed at Treasury from modifying or copying the database, prohibiting them from sharing any information with Musk or anyone else outside the department, and preventing Elon Musk himself (or any additional DOGE-connected people) from accessing the sensitive Treasury data while the lawsuit proceeds to the next stage, as a hearing is scheduled for February 24.
• Lawsuit #3 — Public Health Agency websites censored, including the Centers for Disease Control and Prevention (CDC) and the Food and Drug Administration (FDA), which led to the judge granting the motion, ordering the agencies to restore the deleted webpages and datasets while the litigation proceeds. Public Citizen will be amending the complaint this week, to expand the scope of the case.
• Lawsuit #4 — USAID shutdown ignites worldwide humanitarian crisis, after the Trump administration "illegally" ordered USAID workers to stop doing their jobs, terminated contracts, froze grant funding, and prepared to lay off or fire nearly all USAID employees, resulting in essential medical care, food assistance, and other critical projects across the globe being unable to operate. On February 7, the court issued an order blocking the plan to put 2,200 USAID workers on leave and bringing back the hundreds put on leave earlier in the week, through February 14. On February 13, another court session led the judge to extend it through February 21, as he considers whether to grant further emergency relief. Briefing a motion for summary judgment is anticipated soon, asking the court to issue a final order restoring USAID.
• Lawsuit #5 — DOGE 'invades' U.S. Department of Education led to an hour-long hearing on the motion for a temporary restraining order on February 14, with the judge's ruling for emergency relief still being awaited.
• Lawsuit #6 — Trump’s 'unconstitutional' foreign aid freeze prompted the court to grant the motion and issued an order requiring the resumption of foreign assistance funding for clients and others as the case proceeds. The next step will be to file a motion seeking to make the court order permanent.
• Lawsuit #7 — Illegal dismantling of the Consumer Financial Protection Bureau (CFPB), which was set up by Congress to safeguard the American people and economy from Big Banks and other giant financial institutions. On February 14, Public Citizen lawyers sued to halt that effort and the judge entered an order blocking any destruction of records, firing of people, or transfer of agency funding while she considers the case. The next hearing in the case will be on March 3.

President Trump elaborated: "On Trade, I have decided, for purposes of Fairness, that I will charge a RECIPROCAL Tariff meaning, whatever Countries charge the United States of America, we will charge them - No more, no less! For purposes of this United States Policy, we will consider Countries that use the VAT System, which is far more punitive than a Tariff, to be similar to that of a Tariff. Sending merchandise, product, or anything by any other name through another Country, for purposes of unfairly harming America, will not be accepted. In addition, we will make provision for subsidies provided by Countries in order to take Economic advantage of the United States. Likewise, provisions will be made for Nonmonetary Tariffs and Trade Barriers that some Countries charge in order to keep our product out of their domain or, if they do not even let U.S. businesses operate.

"We are able to accurately determine the cost of these Nonmonetary Trade Barriers. It is fair to all, no other Country can complain and, in some cases, if a Country feels that the United States would be getting too high a Tariff, all they have to do is reduce or terminate their Tariff against us. There are no Tariffs if you manufacture or build your product in the United States. For many years, the U.S. has been treated unfairly by other Countries, both friend and foe. This System will immediately bring Fairness and Prosperity back into the previously complex and unfair System of Trade. America has helped many Countries throughout the years, at great financial cost. It is now time that these Countries remember this, and treat us fairly – A LEVEL PLAYING FIELD FOR AMERICAN WORKERS. I have instructed my Secretary of State, Secretary of Commerce, Secretary of the Treasury, and United States Trade Representative (USTR) to do all work necessary to deliver RECIPROCITY to our System of Trade!"

Trump's expansionist pretensions toward Greenland have culminated in a bill, aiming to the President to enter into negotiations to acquire Greenland and to rename Greenland as 'Red, White, and Blueland.' Before this, a bill was introduced to authorize the President to negotiate with the appropriate Panamanian government officials to reacquire the Panama Canal and submit a report to Congress within 180 days of enactment detailing the progress of such negotiations, potential challenges, and anticipated outcomes.

?? Gas is still energy industry's uncrowned king

Even though challenges persist, Wood Mackenzie's recent report, 'The bridge: natural gas's crucial role as a transitional energy source,' underlines that natural gas remains the crucial bridge in the energy transition by supporting renewables and reducing emissions. While carbon prices are needed to support LNG’s displacement of coal, the company's analysis shows LNG is 60% less GHG-intensive than coal. This report emphasizes that while the world is increasingly turning to renewable energy, natural gas remains "fundamental" to meeting global energy needs and reducing emissions in the medium term.

Massimo Di Odoardo, Vice President of Gas and LNG Research at Wood Mackenzie, stated: "Gas demand has surged by 80% over the past 25 years, now meeting almost a quarter of the world's energy needs. Its success lies in the scale of global resources, low production costs, ease of storage and dispatch, and comparative environmental advantages."

The firm's report is adamant that surging electrification, increasingly delivered by renewable power sources, will lead the charge to curb CO2 emissions. As the adoption of emerging low-carbon technologies, such as hydrogen, is currently deemed too slow to achieve net-zero emissions by 2050, Wood Mackenzie's report spotlights that shifting to gas as a transition fuel is a compelling option.

Wood Mackenzie's main findings indicate that gas produces only half the carbon dioxide of coal and 70% of oil when burned, generating considerably less pollution, making it the cleanest fossil fuel option. The firm adds that replacing coal with natural gas has already helped deliver substantial CO2 reduction and can help decarbonize markets across Asia that remain dependent on coal.

In addition, gas-fired plants are key to providing reliable and flexible supply supporting the integration of intermittent renewable energy sources, according to Wood Mackenzie which said: "Natural gas can act as a catalyst for advancing other lower-carbon technologies, including carbon capture and storage (CCS) and low-carbon hydrogen."

While contemplating challenges facing the gas industry, the report warns that high LNG prices since 2022 risk undermining the full potential of wider gas adoption in Asia, thus, carbon prices would be needed to shift the market.

Di Odoardo added: “In China and India, where gas usage is mainly used for peak shaving, gas demand is still expected to grow by almost 100 bcm through to 2050 in the power sector, offering the most practical option for ensuring flexibility as renewable investments surge.

“Without a carbon price of around US$100/tonne, reducing China’s and India’s dependency on baseload coal looks like a massive ask. But the prize could be a reduction of more than 300 Mt of CO2 by 2035”

Additionally, the report reveals that emissions remain an issue, as gas and LNG both produce substantial greenhouse gas (GHG) emissions, but it refutes the claim that the LNG value chain is more GHG-intensive than coal as unfounded.

Di Odoardo elaborated: “Our analysis shows that, on average, LNG has around 60% lower GHG intensity than coal. Even when considering a 20-year global warming potential (GWP) and comparing methane-intensive LNG with coal burnt in highly efficient plants, LNG is still 26% less GHG-intensive. Nevertheless, its carbon dioxide and methane emissions need to be addressed as a matter of urgency to ensure its primacy as a bridging fuel.”

Wood Mackenzie's report concludes that natural gas, particularly LNG, will be critical in the shift to a lower-carbon future, bridging the gap as emerging low-carbon technologies strive to reach critical mass.

Michael A. Nutter, a member of Natural Allies For A Clean Energy Future, recently delved into the way gas can bridge the gap to a clean energy future in an opinion piece for The Inquirer, noting: "As we move toward a more diverse energy mix, our choices can’t leave historically marginalized communities behind. That’s why scaling up renewable sources — with natural gas as a foundation — is the most immediate, affordable, and practical way forward to protect energy bills, ensure the power comes on when we need it, and reduce greenhouse gas emissions. [...] The trouble when we talk about an energy transition is that clean energy programs are often out of reach for many, and in particular, the most vulnerable populations and low-income households. [...]

"The combination of climate change and the increasing lack of affordable energy is quickly becoming one of the most urgent, widespread civil rights issues of our time. We must protect underserved communities from the impacts of climate change while ensuring they have access to reliable, affordable energy. Renewables, working with natural gas, can accelerate our path to a clean energy future."

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? Equinor has got a hold of a drilling permit with Norway’s authorities to drill an exploration well in the Barents Sea with one of Transocean ’s semi-submersible rigs.

? NOPSEMA has greenlighted an environment plan Beach Energy Ltd submitted for drilling and plug-and-abandon (P&A) operations in the Otway and Bass basins offshore Australia.

? Ventura Offshore 's rig is currently on a drilling assignment with エニ in Indonesia, where the firm wells are estimated to keep the unit busy in the fourth quarter of 2025. Aside from the current firm wells, the Italian oil major has options for five more fixed-price wells, four in Indonesia and one in Vietnam.

? The agreement between International Maritime Industries (IMI) and ARO Drilling , a 50/50 joint venture between Valaris Limited and aramco , marks the opening of the construction chapter for a third jac-kup in a series of 20 planned newbuild Saudi-operated and manufactured offshore rigs, which ARO intends to deploy to meet Aramco’s drilling demands.

? A seventh-generation newbuild ultra-deepwater drillship will be marketed by VANTAGE DRILLING for work opportunities in Africa, the Mediterranean, Asia, and Australasia.

? Transocean has got hold of a new set of contract extensions for three floaters, encompassing one drillship and two semi-submersible rigs, working offshore India, Norway, and Australia. The rig owner’s total backlog is approximately $8.3 billion as of February 12, 2025.

? Shelf Drilling has opted to team up with Arabian Drilling to expand their offshore drilling footprint.

? A 2014-built drillship, owned by Noble Corporation , has wrapped up its work on the first exploration well in Rhino Resources Ltd ’s multi-well campaign in the Orange Basin offshore Namibia and began activities at the next prospect on its drilling list.

? Noble Corporation has secured drilling assignments for four floaters with Tullow Oil in Ghana, PETRONAS in Suriname, 壳牌 in the Americas, an undisclosed firm in the U.S. Gulf, and 雪佛龙 in Australia.

? Valaris Limited has set out to optimize its rig fleet by deciding to put three semi-submersible units out of drilling work for good and divest a stacked jack-up rig. The rig owner has also won a new batch of offshore drilling assignments with TotalEnergies in the UK North Sea, Jadestone Energy off the coast of Australia, and bp offshore Trinidad and Indonesia. In addition, the firm's ARO Drilling has won more work for three rigs with aramco in Saudi Arabia, Middle East.

? Shelf Drilling has secured more drilling time with 雪佛龙 for one of its jack-up rigs working offshore West Africa.

? Seatrium has emerged as the winner in an international tender from International Maritime Industries , said to be the largest shipyard in the Middle East and North Africa (MENA) region, for the supply of equipment and license for a jack-up rig destined to work in the Middle East.

? Aker BP ASA had no luck in the Norwegian Sea, following drilling activities conducted by one of Saipem ’s rigs offshore Norway.

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? Following its revised offtake route, Hartshead Resources NL handed over a program and budget to a joint venture (JV) for approval to develop the North Sea gas fields via the Saturn Banks pipeline system.

? bp has been hired to take care of a hydrocarbon production decline at Oil and Natural Gas Corporation Limited (ONGC) 's giant field offshore India.

? Four Tullow Oil platform supply vessels (PSVs) and anchor handling tug supply (AHTS) vessels working in Ghana’s offshore oil fields will sport Opsealog 's solutions to enhance vessel tracking, optimize fuel consumption, and reduce greenhouse gas emissions.

? According to V?r Energi , the upcoming four major projects, anticipated to come online in 2025, will allow its production levels to surpass 400,000 barrels of oil equivalent per day (kboepd).

? Following a pause in activities at its gas field expansion project offshore Israel because of the Israel-Gaza war in the Middle East, 雪佛龙 is now targeting the end of works on a third subsea gas pipeline for 2025.

? CGX Energy Inc. and Frontera Energy Corp. , will look into all legal avenues to find a way to assert and defend their interests in the Corentyne block offshore Guyana, following a license termination communication from the country’s government.

? Equatorial Guinea’s Ministry of Mines and Hydrocarbons is getting ready to kick off a new oil and gas licensing round to boost the country’s hydrocarbon arsenal through offshore exploration and production activities.

? Aside from the 26 blocks on offer in the new bid round, Trinidad and Tobago’s Energy Minister has underscored that the government is “receptive” to out-of-bid round proposals to ensure a further boost for the upstream sector, as the deepwater arena holds the “greatest promise” for major oil and gas discoveries in his book.

? While the hydrocarbon search is set to continue around the globe to ensure energy security, certain oil and gas prospects and drilling activities tend to attract more attention. Bearing this in mind, African Energy Chamber has provided its take on the ongoing and anticipated high-impact drilling campaigns in Namibia, Angola, Nigeria, and Libya, which will be undertaken by TotalEnergies , Azule Energy Africa Oil Corp. , and エニ .

? bp has taken steps to secure an FPU with Seatrium for its next oil project in America's deepwater arena. This new unit will leverage technological advancements achieved from the ongoing Kaskida project alongside the firm’s topsides single lift integration methodology.

? Petrobras has struck deals with Oil India Limited / ??? ?????? ??????? and Oil and Natural Gas Corporation Ltd , and Bharat Petroleum Corporation Limited to pool resources across various areas in the oil and gas segment.

? INPEX Corporation 's plan up to 2035 entails the expansion of natural gas and LNG businesses and leveraging carbon capture and storage CCS and hydrogen among its pillars of progress toward net-zero emissions.

? BRAVA Energia will supply Trafigura with oil produced at its Atlanta field off the coast of Brazil.

? Saipem has disclosed another achievement in Angola, highlighting that the largest gas production topside ever built in this African country was loaded out in Ambriz yard to sail away to an offshore wellhead platform destined for Angola’s first non-associated gas development, operated by bp and エニ 's JV, Azule Energy . This follows the recent shipment of the jacket to the same location. The project will unlock Angola’s offshore gas development and increase LNG production to meet domestic demands, according to the company.

? Trillion Energy International Inc. has continued to move forward with the stimulation of gas production at its giant gas field offshore Türkiye using nitrogen injections after weather-induced delays passed.

? ANP - Agência Nacional do Petróleo, Gás Natural e Biocombustíveis has outlined the plan for the next oil and gas bidding round, which comes with 332 exploratory blocks across onshore and offshore basins in Brazil.

? 雪佛龙 and its partners, 壳牌 and NewMed Energy , together with the government of Cyprus, have greenlighted an updated development plan for an offshore gas field reservoir in Block 12 in the Mediterranean Sea. The company’s estimated cost of the revised plan hit about $4 billion before technical-economic feasibility studies and the front-end engineering design work. The natural gas from the project is expected to be exported from a floating production unit via a pipeline to Egypt.

? SBM Offshore has begun the construction phase of a disconnectable turret mooring (DTM) for an FSO unit, destined to be deployed at Woodside Energy 's deepwater oil project 30 km south of the Mexico-U.S. maritime border.

? Petrobras has achieved the first oil from a new FPSO unit, owned by SBM Offshore . The vessel is working at a huge field in the pre-salt Santos Basin offshore Brazil.

? BW Offshore has held a naming ceremony at Seatrium 's yard in Singapore for its newbuild FPSO vessel, which is on track to start work at Santos Ltd 's giant gas field off the coast of Australia in 2025.

? Woodside Energy has reported a boost in proved reserves compared to last year, partly due to the performance of its field offshore Senegal.

? bp has started production at the second development phase of a field at the West Nile Delta (WND) concession in the Mediterranean within the Egyptian Exclusive Economic Zone (EEZ).

? Santos Ltd has begun production from its offshore well in Western Australia weeks before schedule.

? Petrobras 's latest oil discovery is located in the pre-salt area of its existing oil field offshore Brazil.

? 雪佛龙 has enlarged its strategic cooperation with Eliis to advance subsurface characterization through technology.

? SBM Offshore will undertake a study of the design and the commercial evaluation of various carbon capture systems’ configurations to be installed on the future FPSO units deployed on oil and natural gas fields operated by Brazil’s Petrobras .

? According to Traffic Family , the Netherlands needs to diversify its gas supply to bolster energy security and lower its susceptibility to geopolitical pressure.

? Serica Energy plc has disclosed a new timeline for the resumption of production at its assets in the North Sea, which are tied back to an existing FPSO, operated by Dana Petroleum Limited , on the UK Continental Shelf (UKCS).

? TotalEnergies and エニ have reached an agreement with Cyprus and Egypt to develop a gas discovery named after the god of time in ancient Greek mythology by exporting the gas from the field off the coast of Cyprus through Egypt.

? Prosafe will divest its 2005-built semi-submersible vessel for a gross price of $5 million before commissions and expenses. The sale of the vessel is subject to customary closing conditions and requirements.

? As a 1986-built FPSO, seen as capable of supporting early-phase and tail-phase production at offshore oil fields given its experience to date, is changing ownership, the new owner plans to find the unit’s next job in regions such as Vietnam, Suriname, Brazil, and West Africa.

? Afentra PLC has outlined that hydrocarbon production from a block off the coast of Angola has been offset by growth in reserves.

? 埃克森美孚 highlighted in its environmental impact assessment (EIA) for the development of its seventh oil project in the Stabroek block offshore Guyana: “???????? ?????? ???????????????? ???? ???????? ???????????????? ????????????????, ???????????????????? ???????????????? ?????? ??????????, ?????? ???????????????????????? ?????? ?????????????????? ???????????????? ????????????????????????, ?????? ?????????????? ???? ???????????????? ???? ???????? ?????????????? ?????????? ???? ?????? ?????????????????????????? ?????? ?????????????????????????? ??????????????????/?????????????????? ???? ???????????? ?????????? ?????????????????????? ???????????????? ?????????????????????? ???????????????? ???????????????? ???? ?????? ?????????????????? ???? ????????????.”

? Oxy is set to divest some upstream assets under two deals with undisclosed buyers totaling $1.2 billion.

? Serikandi Hilong, a joint venture between Serikandi Oilfield Services Sdn.Bhd and Hilong Marine Engineering, has secured a decommissioning contract with Brunei Shell Petroleum Co. Sdn. Bhd.

? EnerMech has landed a multi-year contract extension with North Oil Company Qatar , a joint venture between QatarEnergy (70%) and TotalEnergies (30%), for work at an oil asset, said to be the largest field offshore Qatar.

? Phase II will further tap into the resources of the oilfield, realizing efficient and economic development of heavy crude through optimized jet pump injection-production technology, which could further enhance China National Offshore Oil Corp. ’s energy supply capacity.

? Aside from completing 2024's licensing round by inking two deals with INPEX Corporation and partners, Malaysia's PETRONAS launched another bidding round and penned technical evaluation agreements with bp , エニ , PETRONAS Carigali Sdn. Bhd. , PT Pertamina (Persero) , PTTEP , TotalEnergies , and INPEX Corporation .

? Allseas has put the wheels into motion to get ready for its new assignment at Brazil’s second largest oil field. The latest job with Petrobras , which the firm describes as "one of the largest offshore pipeline installation projects" in its 40-year history, marks the company's return to the Brazilian offshore construction market.

? Wood is staying for two more years on duty with Shell, thanks to a contract extension, which covers the British oil major’s onshore and offshore portfolio in the United Kingdom, including its latest addition to the North Sea FPSO collection.

? "?????????? ???????????????? ???? ?????? ???????? ???????????????????? ???? ???????????????????? ???? ???????????? ???????????? ???????????????? ?????? ?????????????? ???? ?????? ?????????????? ???????????????? ?????????? ?????? ???????????? ???????????????? ???? ?????? ???????????? ????????????,” highlighted Jeff Ballard, President and CEO of Sentinel and its subsidiary, Texas GulfLink.

Texas GulfLink , an affiliate of Dallas-based Sentinel Midstream , has secured a stamp of approval from the U.S. Department of Transportation’s Maritime Administration (MARAD) for its deepwater port license application, bringing a multi-year environmental and technical review saga to an end.

? “???????? ???????????????? ???????????????????? ???? ?????? ???????????? ?????????????? ???? ?????? ???? ?????? ?????????????????? ???????? ?????????? ???????? ?????? ???????????????? ???????????????????? ???????????????? ???????????? ?????? ????????????????????????????. ?????? ?????????????????????? ?????????????? ?????? ?????????????????? ???? ???? ?????????????????????? ????????-?????????????????? ?????????? ???????? ?????????????????? ???????????? ???????? ???????? ????????, ?????????? ???????? ?????????????????? ???????? ?????????????? ?????? ????????????,” emphasized Zoe Yujnovich, 壳牌 ’s Integrated Gas & Upstream Director, after the firm made a play for interests 康菲石油公司 holds in its oil assets in the Gulf of America (GoA), formerly named Gulf of Mexico (GoM).

?? ?????? ???????????????? ???? ???????????? ???????????? ???????? ??

? Basalt Infrastructure Partners has inked a deal for a newbuild liquefied natural gas carrier to expand the existing LNG platform owned by its joint venture (JV) with Denmark’s Celsius Shipping .

? Federal Energy Regulatory Commission has prepared a draft supplemental environmental impact statement (EIS) for an LNG project in Louisiana, operated by Venture Global LNG .

? bp has celebrated the first LNG production at the firm's Greater Tortue Ahmeyim (GTA) Phase 1 project offshore Mauritania and Senegal. The UK player's partners in the project are Kosmos Energy , Groupe PETROSEN and Société Mauritanienne Des Hydrocarbures (SMH) .

? エニ does not share the conclusions drawn by Exmar concerning the latter’s bonus expectations based on the production data for an FLNG unit the firm sold to the Italian player.

? Eni has entrusted the second phase of the offshore transportation and installation works for its LNG project offshore Congo to HILONG GROUP OF COMPANIES.

? INPEX Corporation has decided to make use of Royal HaskoningDHV 's LNG Logistics Simulator to de-risk terminal operations and commercial strategies at its Indoneasin LNG project, which is currently under development.

? TotalEnergies , which will send around six LNG cargoes a year to GSPC LNG LIMITED from 2026, claims that natural gas will play a pivotal role in India’s energy transition as a cleaner alternative that will curb greenhouse gas (GHG) emissions and pollution.

? Deutsche ReGas has broken off on a charter deal for one of two FSRUs operating at the energy terminal in Mukran, Germany.

? Intending to fuel Southeast Texas’ natural gas growth to address the rising energy demand, Entergy , Kinder Morgan, Inc. , and the Golden Pass LNG export project, which 埃克森美孚 and QatarEnergy are developing, in Sabine Pass, Texas.

? Golar LNG has taken steps to divest a 22-year-old LNG vessel, bidding farewell to the LNG shipping business segment in the process, as this ship is the last LNG carrier in the Golar fleet.

? ADNOC Gas, an affiliate of ADNOC Group, has won a multi-year LNG supply agreement worth billions with Indian Oil Corp Limited, fortifying energy bonds between the UAE and India.

? Two LNG carriers will run on MAN Energy Solutions ' engines, thanks to a deal thee firm made with Hanwha Ocean to build them.

? Woodfibre LNG is continuing with foundation and marine piling work to breathe life into its operated $5.1 billion LNG export project in Canada.

? Crown LNG has teamed up with India Gas Exchange (IGX) for LNG sales to pipeline customers downstream from the firm’s planned LNG import terminal in Kakinada, India.

? Commonwealth LNG is said to be the first major U.S. LNG project to receive an export authorization for non-free trade agreement (non-FTA) countries since the Biden-Harris administration’s freeze on LNG export permit approvals.

? Venture Global LNG has set a date for the beginning of commercial operations at its LNG export project in Cameron Parish, Louisiana, south of Lake Charles, United States.

? Petrobras has signed a 15-year liquefied natural gas sales and purchase agreement with Centrica .

? INPEX Australia , a subsidiary of Japan’s INPEX Corporation , has confirmed the setting of the stage for a miles-long journey, which Heerema Marine Contractors and its vessel will undertake to bring an LNG booster compression module (BCM) from Indonesia to Australian waters, where it will be installed to augment production from a subsea reservoir at Inpex’s offshore energy project.

?????????????? ???????????????????? ?????????? ???? ?????? ???????? ?????????? ??

? While Harbour Energy intends to exit a carbon capture and storage project in the UK North Sea, Synergia Energy is planning to look for a new partner to join this CCS project.

? Gneiss Energy 's recent report highlights the potential negative impacts an energy strategy that does not support investments in domestic UK gas production will have on the environment and overall energy supply since this fuel is expected to keep playing a significant role in Britain’s energy mix into the 2030s and even beyond.

? TGS and deepC Store will pool resources for offshore carbon storage assessment in Australia's Browse Basin.

? Horisont Energi has taken steps to secure gas supply for its Barents Blue project, envisioned as a clean ammonia plant at Markoppnes in Northern Norway.

? March 2025 is expected to bring a geophysical offshore survey at a carbon storage permit in the UK, which is being developed by a joint venture consisting of bp , Equinor , and TotalEnergies .

? This is coming at a time when greater push is being exercised to secure the government's commitment to CCUS amid rising fears over potential funding cuts, as emphasized by Offshore Energies UK , which urged the government to keep backing more CCUS projects.

? Yinson 's Yinson Production has expanded its decarbonization avenues with the acquisition of Norway-based Stella Maris CCS business that plans to establish large-scale floating collection, transport, and offshore storage of CO2.

? Saad sherida Al-kaabi , Qatar’s Minister of State for Energy Affairs and President and CEO of QatarEnergy , highlighted the need for an inclusive and balanced global energy mix made up of oil, gas, and renewables, stressing the importance of “a realistic energy transition” that makes use of a diverse and balanced energy mix, which considers each country’s economic growth plans, energy requirements, and environmental targets.

? Petrobras has signed two credit notes and a memorandum of understanding with the Banco do Brasil, with the idea of promoting initiatives related to sustainability and energy transition.

? Yinson Production has held a naming and sail-away ceremony in China for an FPSO vessel destined to operate offshore Angola for the bp - エニ joint venture, Azule Energy . This is said to be the first FPSO of its kind equipped with a post-combustion carbon capture pilot system to decarbonize operations.

? Equinor has spotlighted electrification as the key measure to curb greenhouse gas (GHG) emissions from oil and gas production, paving the way to move forward with the energy transition journey to a low-carbon and zero-emission era.

“?????????????????????????????? ?????????????????????????? ?????????????? ?????????????????? ?????? ???????? ???????????????? ?????? ?????????????????????????????? ???? ???????????? ????2 ?????????? ?????? ?????????????????? ?????? ???????????????? ???? ?????????????????? ????????????. ???????? ?????????????? ???? ???? ?????????????? ???????? ???????????? ???????????????????? ???????? ?????????? ?????????????????? ???????? ?????? ?????????????????? ?????????????????????? ?????????? (??????), ?????????? ???? ?????????????? ?????? ????????????’?? ???????????? ????????????????,” underlined the Norwegian player.

??For more recent news, check out these headlines and visit our website:

• ?? After recent contract termination, DOF vessel returns to Gulf of Mexico for two subsea gigs
• ?? TGS expands 3D seismic coverage in Norwegian Barents Sea
• ?? Multimillion-dollar FLNG mooring deal ends up in Scana’s workbook
• ?? Second-in-command moving up to CEO at Transocean
• ?? Nord Stream 2 could be repurposed for hydrogen and LNG, says Swiss StreamTec Solutions
• ??V?r Energi selects compatriot player as its offshore flight operator

Thanks for reading this newsletter and stay tuned for our next edition!

Kind Regards,

???????????? ?????????

Senior Editor at Offshore Energy Today, now known as Offshore Energy's Fossil Energy market

P.S. Last week we celebrated a follower growth milestone on LinkedIn by hitting 250K! Thank you all for reading and engaging with our content! We appreciate your support! Cheers to many more milestones!

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