?????????? ??????, ??????, ?????? ???????????????? ?????????? ?????????? ???????????? ??????????????????

?????? ?????????? ???? ???????????? ?????????? ?????? ??????????, ?????????????????? ?????? ???????????????? ?????? ???????????????? ???? ?????? ???????? ??????????????. ??????????????, ???? ???? ???? ???????????? ???????? ?????? ???????????? ?????????????????? ???? ????????????????, ???????? ???????????????????????? ?????? ???? ?????????? - ???? ?????????? ?????? ???????? - ???????? ???? ???????? ???????????? ?????????????????????? ???? ??????-?????????????? ???? ???????? ???????????? ?????? ???????? ??????????????????????. ?????? ???????????????????? ???? ?????? ?????? ?????? ?????? ???????????????? ???? ?????? ???????? ???? ?????? ?????????????????? ???? ???????????????? ???????????? ?????????????? ?????? ?????? ?????????????? ???????? ???????????? ?????????? ???????????? ???? ???????????????????????? ???? ?? ?????????????????? ???? ?????? ???????????????? ???????????? ???????????? ?????? ?????????? ?????????????????? ???? ?????? ???????????? ??????????.

Despite this, fossil fuels are losing some ground to renewables, as green agendas get pushed forward. This is illustrated by the changes in the energy environment and fresh decarbonization moves made to implement state-of-the-art technologies. With the quarterly results season now upon us, the oil majors' performance during 2023 brought multi-billion-dollar profits while spotlighting the dominant role oil, natural gas, and LNG still play in the energy mix.

?????????????????? ?????????????? ???????????? ???????????? ???? ?????? & ?????? ??????????????' ??????????

ExxonMobil and Chevron have raked in $36 billion and $21.37 billion, respectively during 2023. These profits present a steep fall compared to all-time high ones of $55.7 billion and $35.5 billion in 2022. This drop in the energy giants’ combined profits from $91.2 billion in 2022 to $57.37 billion in 2023 is driven by the downward trend in oil and gas prices. However, the batch of new acquisitions has bolstered the duo's capacity to boost production.

While 壳牌 ’s annual profit fell by 29% on a year-over-year basis in 2023, the UK player still reported a profit of $28 billion. An analysis of the firm’s highest-ever annual profit of almost $40 billion in 2022 leads to the conclusion that the decrease is driven by the shifts in global energy markets, putting the limelight on the downward trend in oil and gas prices and the upswing in LNG trading.

While bp saw a 50% fall in profit on a year-over-year basis, the oil major still reported a profit of $13.8 billion for 2023. While working to transform itself from an International Oil Company (IOC) to an Integrated Energy Company (IEC), the UK player is following the goals set in its existing strategy, which revolves around resilient hydrocarbons, convenience and mobility, and low-carbon energy.

While announcing “robust” results in line with its objectives and confirming the relevance of its strategy in an uncertain environment, TotalEnergies , which is celebrating its 100th birthday in 2024, disclosed a net income of $21.4 billion for the full year 2023, a 4% increase compared to $20.5 billion for the full year 2022.

Patrick Pouyanné, CEO of TotalEnergies, commented: “In an uncertain environment, TotalEnergies’ balanced transition strategy, which combines growth in Oil & Gas, in particular in LNG, and Integrated Power, delivered strong results in 2023, in line with its objectives."

The 2023 results are perceived to be the “highest profit” in the firm’s history, according to Greenpeace . This performance is underpinned by the success of the LNG and electricity divisions. However, the overall results were affected by the drop in oil and gas prices and refining margins compared to the highs observed in 2022.

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

Serica Energy plc is setting the stage to embark on its four-well drilling campaign and well work-over program in the UK sector of the North Sea. These wells are scheduled to take about three months each to drill, meaning that drilling will continue into 2025.

壳牌 picked a jack-up rig from Valaris Limited for a two-well drilling campaign in the North Sea. This entails an exploration well and an appraisal well, which will be drilled sequentially, with the contract and mobilization slated to begin in the June-July 2024 period.

A new drilling assignment will enable Paratus Energy 's jack-up rig to continue carrying out operations offshore Mexico for another year.

One of Ocean Oilfield 's jack-up rigs has finished a plug and abandonment (P&A) program at an offshore field in the UAE for Sinochem’s Atlantis (UAQ) Limited.

A semi-submersible rig, owned by Valaris Limited , has started drilling the first of eight wells on a Woodside Energy -operated gas field off the coast of Western Australia.

TotalEnergies has sealed a deal to obtain a majority stake from VANTAGE DRILLING in a drillship, which is currently working in Namibia. With its hook load capacity of 2.5 million pounds, offline capabilities, and managed pressure drilling equipment, this drillship is said to meet the French player’s envisaged future global needs.

?????? ?????? & ?????? ?????????????? ??????????-??????

China National Offshore Oil Corp. brought on stream an oilfield secondary adjustment and development project, which is located in Liaodong Bay of Bohai Sea. This project will have 118 development wells, including 81 production wells and 37 water injection wells. According to the Chinese player, the project has been developed relying on an onshore power supply. As a result, it will consume green electricity generated onshore, enabling the green and low-carbon development of offshore oil and gas resources.

TotalEnergies has started production from a field, which has been tied to an existing FPSO operating offshore Nigeria. The field is expected to add 14,000 barrels of condensate production per day, to be followed by up to 4 million cubic meters of gas per day by 2028.

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

Wood 's latest multi-million-dollar contract extension is for the delivery of maintenance and modification solutions to optimize wellhead platforms and floating production storage and offloading (FPSO) unit located at a field off the coast of Rio de Janeiro, Brazil. This is said to be Equinor ’s largest operated field outside Norway.

An RM400 million ($84.67 million) contract for a new MOPU is expected to provide long-term financial visibility to T7 Global Berhad upon first oil. This MOPU is destined to move to an oil field in the Gulf of Thailand soon, where it will be leased to the operator of the field, Valeura Energy Inc.

After QatarEnergy announced the award of four multi-billion-dollar EPCI contract packages to multiple players, McDermott International, Ltd confirmed two new assignments with North Oil Company Qatar , a joint venture between QatarEnergy (70%) and TotalEnergies (30%), related to the delivery of the EPCIC scope for the development of the next phase of the largest oil field off the coast of Qatar.

???????? ????????:

• ??QatarEnergy dishes out $6 billion to boost production at Qatar’s largest oil field

MODEC hired Axess Group on a long-term inspection contract related to its recently converted FPSO, which will work on the Woodside Energy -operated offshore oil development project in Senegal, Africa.

?????????????????? ?????? & ?????? ???????????????????? ???????? ?????? ????????????????????????

JAPEX Norge has wrapped up the acquisition of an interest in an offshore license, allowing it to enrich its portfolio with initial producing assets offshore Norway.

In addition, the company brought to an end its sale of partial interests in two exploration licenses on the Norwegian Continental Shelf (NCS) to Norway’s Concedo.

エニ and V?r Energi have added new assets to their portfolios by completing the acquisition of Neptune Energy ’s oil and gas assets - aside from the firm’s German portfolio - for a total aggregate enterprise price of $4.9 billion.

DNO ASA is in the process of expanding its North Sea portfolio with the acquisition of ONE-Dyas 's interest in a Shell-operated gas field on the UK Continental Shelf (UKCS).

Deltic Energy has taken steps to sell a partial stake in a Shell-operated license, containing a prospect, which is due to be drilled later this year with Valaris Limited's jack-up rig. Dana Petroleum Limited has decided to snap up this asset and join the planned hydrocarbon exploration game once drilling activities begin.

TotalEnergies is in the process of enlarging its overall gas portfolio with more assets offshore Malaysia, thanks to a deal with OMV , which will enable the French player to obtain a stake in SapuraOMV Upstream, a 50:50 joint venture between Sapura Energy and the Austrian firm. The oil major’s portfolio enhancement is expected to come with a total price tag of $903 million.

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

The UK has revealed its second tranche of license awards from 115 applications in its 33rd offshore oil and gas licensing round. Due to this, the total number of licenses awarded so far has climbed to 51. The latest batch brought 24 new licenses to 17 oil and gas players - including Shell, Equinor , BP, TotalEnergies, and NEO - in the North Sea and West of Shetland areas.

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

While the news that Woodside Energy and Santos Ltd are abandoning merger talks may be shocking to some, others have expected this outcome all along. These discussions could have brought an A$85.7 billion (about $55.9 billion) merger to life, creating an Australian gas market giant, had they been successful.

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

• ??Venezuela and Bermuda player in talks over potential FLNG tech investment
• ??Wintershall Dea’s drilling ops with Transocean rig cleared for take-off
• ??Chevron’s CEO: Oil & gas go hand in hand with low-carbon solutions
• ??International offshore rig count activity gets a boost in January
• ?? Sweden closes investigation on Nord Stream pipeline incident
• ?? Centrica concludes LNG supply deal with Repsol
• ??Sempra and JBIC join forces to pursue energy transition opportunities
• ??MOL emerges as preferred supplier of Poland’s first FSRU
• ??As ink dries on another collaboration deal, PTTEP going in hot pursuit of CCS tech advancement

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

Kind Regards,

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

Senior Editor at Offshore Energy Today

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