oil-gas
03 April 2025
World Oiloil-gas
Apr 03, 2025World Oil
Kongsberg Maritime has secured a contract to supply an integrated package of equipment for a new Offshore Support Vessel (OSV) being built for ship owner DOF.
The new 110-meter OSV, with a capacity to accommodate 164 people, is designed by MMC Ship Design and constructed at CRIST shipyard in Gdynia, Poland. The vessel will operate offshore Newfoundland, known for its harsh environmental conditions.
It will be equipped with a comprehensive range of Kongsberg Maritime systems, including the DC main switchboard, battery hybrid system, main power generator, thruster induction motor, and distribution transformer.
One of the biggest features is the DC electric system, which offers several compelling advantages over traditional AC systems, including enhanced energy efficiency, reduced space and weight requirements, improved power quality, and better dynamic response. These benefits make DC electrical systems increasingly favored for modern offshore vessels, particularly those focused on energy efficiency, hybrid propulsion, and advanced operational capabilities.
Kongsberg Maritime’s battery-hybrid propulsion system will comprise two 1MWh battery packs, this advanced system will be complemented by a DC electric system designed to ensure the highest operational efficiency.
With these innovations, the new ship is set to achieve fuel savings of up to 35% compared to similar vessels, marking a significant step forward in sustainable maritime technology.
DOF has also selected a range of Kongsberg Maritime technology to support its offshore operations, for navigation, automation and control systems, as well as the company’s K-Pos Dynamic Positioning system.
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Exxon Expects $1.5 Billion Earnings Drop From Lower Oil, Gas Prices(Bloomberg) -- ExxonMobil expects lower oil and gas prices to reduce the company’s earnings by about $1.5 billion as a volatile quarter for commodity prices weighs on second-quarter profits.
Oil prices pulled down earnings by about $1 billion while gas contributed another $500 million hit when compared to the first quarter, the Spring, Texas-based company said in a statement Monday. European rival Shell Plc’s shares fell 3.3% Monday after guiding to “significantly lower” trading earnings than the previous quarter.
The two oil giants’ outlook points to a downbeat quarter for the industry, which was already struggling to generate enough free cash to cover the dividends and share buybacks companies hiked after record earnings in 2022. U.S. President Donald Trump’s trade war and larger-than-expected supply increases from OPEC and its allies weighed on oil prices, while U.S. and Israeli attacks on Iran only provided a temporary uplift.
Exxon expects some respite from refining margins, which will add about $300 million to earnings, the company said. The guidance only refers to market pricing and does not factor in operational performance like changes to production or costs, the company said.
Exxon’s guidance is “bang in line” with analysts’ estimates for the second quarter, RBC Capital Markets analyst Biraj Borkhataria said in a research note. Exxon “has a much smaller trading organization than its European peer Shell, and thus was not impacted by the same issues.”
World Oil
oil-gas
07 July 20252 min readExxon Expects $1.5 Billion Earnings Drop From Lower Oil, Gas Prices
World Oil
07 July 2025
oil-gas
Consumers Energy Begins 135-Mile Michigan Gas Pipeline Upgrade, Taps 600 Workers(P&GJ) — Consumers Energy has begun a summer construction program to replace 135 miles of century-old cast-iron and steel pipe across 15 Michigan communities, the utility said July 7.
The work is part of the company’s long-term Natural Gas Delivery Plan and involves more than 600 employees and contractors.
SEE ALSO: $182 Million Gas Pipeline Replacement Project Kicks Off in Southeast Michigan
“These projects are a visible demonstration of Consumers Energy's commitment to delivering natural gas safely, affordably and reliably to our friends and neighbors who count on us,” said Holly Bowers, vice president of natural gas engineering and supply. “We focus on work that will have the most impact, ensuring that our natural gas system will be reliable for many more years.”
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The company is also continuing work on the Four Cities Metro Pipeline, a major replacement project in Southeast Michigan, along with numerous smaller upgrades statewide.
Bowers urged motorists to expect intermittent lane closures and to use caution near job sites. The utility says the upgrades will keep average residential gas costs under $3 per day while supporting job growth over the next decade.
“We appreciate the patience of our customers as we carry out these upgrades in the coming months and continue to deliver natural gas reliably and affordably, regardless of what Mother Nature throws at us,” Bowers added.
Consumers Energy supplies natural gas and/or electricity to 6.8 million residents throughout Michigan’s Lower Peninsula.
Pipeline Gas Journal
oil-gas
07 July 20252 min readConsumers Energy Begins 135-Mile Michigan Gas Pipeline Upgrade, Taps 600 Workers
Pipeline Gas Journal
07 July 2025
oil-gas
Adnoc Drilling Awarded Five-Year Contract For Oilfield Services Worth Up To Us$800 MillionADNOC Drilling Company PJSC has announced the award of a contract valued at up to US$800 million by ADNOC Onshore for the provision of integrated hydraulic fracturing services for conventional and tight reservoirs. The five-year agreement is set to commence in 3Q25, marking another significant milestone in ADNOC Drilling’s evolution as a fully integrated technology-enabled energy services company.
This award further reinforces ADNOC Drilling’s leadership in high-tech oilfield services, combining next-generation equipment, artificial intelligence (AI) and real-time intelligence to deliver smarter, safer and more sustainable energy outcomes.
Commenting on the award, Abdulla Ateya Al Messabi, ADNOC Drilling CEO, said: “This significant contract is a powerful endorsement of ADNOC Drilling’s expanding capabilities and our trusted partnership with ADNOC Onshore. It reflects our ability to deliver high-impact, technologically advanced fracturing services that will help unlock the UAE’s energy potential. As we continue our transformation, we are proud to support the nation’s strategic energy goals and reinforce our position as a leader in integrated drilling and completion solutions.”
The contract’s scope of work supports ADNOC’s strategic goal to accelerate the development of conventional and tight reservoirs across the UAE and includes the design, execution and evaluation of multistage hydraulic fracturing treatments, which will be deployed across a wide range of assets in Abu Dhabi. Fracturing services for conventional and tight reservoirs are used to enhance the flow of oil or gas through existing natural pathways and optimise production by improving flow rates.
ADNOC Drilling will deploy advanced technologies throughout the project to maximize efficiency and performance. Proprietary fracturing simulation software will be used to optimise every stage of the operation, increasing flow rates and overall hydrocarbon recovery. Intelligent fluid systems will adapt dynamically in real-time to reservoir conditions, improving fracture efficiency and reducing environmental impact. Automated pumping units and blending systems will enhance safety, streamline operations and reduce the need for on-site manpower.
This marks the fifth contract in just over two months, including a US$1.63 billion five-year contract for Integrated Drilling Services (IDS), a US$806 million contract for three island rigs and a US$1.15 billion 15-year contract for two jack-up rigs, all awarded by ADNOC Offshore, and a US$400m backlog of ADNOC Drilling’s signed acquisition in Oman and Kuwait.
Read the article online at: https://www.oilfieldtechnology.com/drilling-and-production/02072025/adnoc-drilling-awarded-five-year-contract-for-oilfield-services-worth-up-to-us800-million/
The newly installed equipment and facilities are working well and continue to be fine-tuned to optimise production.
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Oilfield Technology
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02 July 20253 min readAdnoc Drilling Awarded Five-Year Contract For Oilfield Services Worth Up To Us$800 Million
Oilfield Technology
02 July 2025
oil-gas
Dno Inks Gas Offtake Deal With Engie, Secures $500M Financing FacilityNorwegian oil and gas operator DNO has entered into an offtake agreement with France’s Engie for its Norwegian gas production and secured a related offtake financing facility with a major U.S. bank for up to $500 million.
The offtake agreement, secured through DNO’s Norway operating subsidiaries, covers the entirety of its Norwegian gas production post acquisition of Sval Energi, offers premium pricing and has a tenor of four years as from October 1, 2025.
Related to the agreement, DNO has entered into an offtake financing facility with a U.S. bank for up to $500 million.
Under the facility, DNO is paid, by the bank, the value of up to 270 days of scheduled gas production based on future gas sales receivables.
The all-in interest rate for drawn amounts under the facility is significantly below conventional reserve-based lending (RBL) terms available to DNO, with no charges for undrawn amounts. There are no financial covenants related to the facility.
Proceeds from the offtake financing facility will be used to replace Sval Energi’s similar existing facilities as well as for general corporate purposes.
In June, DNO completed the acquisition of Sval Energi from HitecVision, picking up 16 producing fields in Norway and quadrupling its North Sea production to 80,000 barrels of oil equivalent per day (boepd).
“We have received strong interest by buyers to prepurchase our enlarged North Sea production of 80,000 barrels of oil equivalent per day split about equally between oil and gas.
“These three-way transactions are made possible because buyers are eager to lock in secure supplies of Norwegian oil and gas and US banks, in particular, have significantly stepped up fossil fuel lending,” said DNO’s Executive Chairman Bijan Mossavar-Rahmani.
Given availability of attractive offtake financing terms, DNO has repaid and will not renew over $600 million in RBLs across its North Sea subsidiaries. In addition, the company has borrowed #300 million under a one-year bank bridge loan ‘to add more arrows to its quiver’, according to Mossavar-Rahmani.
Separately, DNO said it was in discussions to establish an offtake agreement and related financing facility on comparable terms for its North Sea oil production.
Offshore Engineer
oil-gas
02 July 20252 min readDno Inks Gas Offtake Deal With Engie, Secures $500M Financing Facility
Offshore Engineer
02 July 2025
oil-gas
Dno Strikes Deals For Gas Offtake And $500 Million Financing FacilityDNO ASA entered into an offtake agreement with France’s ENGIE SA for DNO’s Norwegian gas production and secured a related offtake financing facility with a major U.S. bank for up to $500 million.
The offtake agreement covers the entirety of DNO’s Norwegian gas production post acquisition of Sval Energi Group AS, offers premium pricing and has a tenor of four years as from 1 October 2025.
Related to the agreement, DNO has entered into an offtake financing facility with a U.S. bank for up to $500 million (USD). Under the facility, DNO is paid, by the bank, the value of up to 270 days of scheduled gas production based on future gas sales receivables. The all-in interest rate for drawn amounts under the facility is significantly below conventional reserve-based lending (RBL) terms available to DNO, with no charges for undrawn amounts. There are no financial covenants related to the facility.
Proceeds from the offtake financing facility will be used to replace Sval Energi’s similar existing facilities as well as for general corporate purposes.
“We have received strong interest by buyers to prepurchase our enlarged North Sea production of 80,000 boed split about equally between oil and gas,” said DNO’s Executive Chairman Bijan Mossavar-Rahmani. “These three-way transactions are made possible because buyers are eager to lock in secure supplies of Norwegian oil and gas and US banks, in particular, have significantly stepped up fossil fuel lending,” he explained.
Given availability of attractive offtake financing terms, DNO has repaid and will not renew over $600 million in RBLs across its North Sea subsidiaries. In addition, the Company has borrowed $300 million under a one-year bank bridge loan “to add more arrows to our quiver,” according to Mr. Mossavar-Rahmani.
Separately, DNO is in discussions to establish an offtake agreement and related financing facility on comparable terms for its North Sea oil production.
World Oil
oil-gas
02 July 20252 min readDno Strikes Deals For Gas Offtake And $500 Million Financing Facility
World Oil
02 July 2025
oil-gas
Qapqa To Support Building 300Km Gas Pipeline For AramcoQapqa, an automated pipeline welding technology company, has secured a contract with A-HAK Pijpleidingen Saudi for Package 9 of Saudi Aramco’s Master Gas System-3 (MGS-3) project.
As part of the agreement, Qapqa will deploy three fully equipped automatic welding spreads along with a team of highly experienced welding professionals to support the construction of more than 300 km of 56-inch X70 gas pipeline.
This pipeline forms a critical segment of one of the Middle East’s most ambitious energy infrastructure developments.
The contract highlights Qapqa’s growing presence in the region and reinforces its reputation for delivering field-proven welding automation technology and consistent operational excellence on high-specification pipeline projects.
With a strong track record in complex environments, Qapqa continues to be a trusted partner for large-scale energy infrastructure projects.
"We are honoured to be selected as the automatic welding partner for this strategic project," says Ralph, CEO at Qapqa.
"Our team is proud to support A-HAK Pijpleidingen Saudi and contribute to Saudi Aramco’s long-term vision for energy infrastructure expansion."
The MGS-3 project is a key component of Saudi Aramco’s broader initiative to enhance the capacity, reliability, and efficiency of the Kingdom’s natural gas network.
OGN News
oil-gas
01 July 20251 min readQapqa To Support Building 300Km Gas Pipeline For Aramco
OGN News
01 July 2025
oil-gas
Equinor, Partners Greenlight $1.3B Johan Svedrup Oil Field ExtensionEquinor and its partners have approved the $1.29 billion (NOK 13 billion) investment in the third phase of Johan Sverdrup field, which entails the installation new subsea infrastructure to increase recovery by 40 - 50 million barrels of oil equivalent (boe).
The development includes two new subsea templates, in the Kvitsøy and Avaldsnes areas with six well slots each, totaling eight wells, including seven oil production wells and one water injection well.
The new subsea templates will be tied into existing templates and pipelines to the P2 platform for processing and export.
The investment will increase recoverable volumes from the field by 40 - 50 million boe, with production expected to start in the fourth quarter of 2027.
To ensure optimal resource utilization, the project leveraged artificial intelligence to analyze field layouts and well paths. This technology has enabled faster decision-making and resulted in cost savings of $13 million (NOK 130 million) for the phase 3 project, Equinor said.
The project also facilitates future value creation at Johan Sverdrup by adding extra well slots, and opportunities for connecting additional subsea templates.
For the phase 3 project, TechnipFMC has been awarded the contract for engineering, procurement, construction, and installation (EPCI) for the subsea development, with a contract value of approximately $525 million (NOK 5.3 billion). Additional contracts, including platform modifications and the drilling of eight wells, are planned to be awarded later in 2025.
Johan Sverdrup is located in the Utsira High area of the North Sea, 160 kilometers west of Stavanger, in water depths of 110–120 meters, covering an area of 200 square kilometers.
The expected recovery rate from Johan Sverdrup is already at 66%, and the phase 3 project aims to increase it to 75%, while the average for the Norwegian continental shelf (NCS) is 47%.
Equinor is the operator of the field, with 42.6267%, with partners Aker BP holding 31.5733%, Petoro 17.36%, and TotalEnergies EP Norge 8.44%.
The partnership has submitted a notification to the authorities in accordance with the existing plan for development and operation (PDO). The notification is subject to governmental approval.
“By building on the technologies, solutions, and infrastructure from phases 1 and 2 of Johan Sverdrup, we can carry out an efficient development with a rapid start-up of production.
“The project increases the recovery rate and value creation from Johan Sverdrup, one of the world’s most carbon-efficient oil and gas fields. At the same time, it contributes to stable energy supplies to Europe,” said Trond Bokn, senior vice president for project development in Equinor.
Offshore Engineer
oil-gas
01 July 20253 min readEquinor, Partners Greenlight $1.3B Johan Svedrup Oil Field Extension
Offshore Engineer
01 July 2025
oil-gas
275-Mile Texas-To-Oklahoma Gas Pipeline Enters Open Season(P&GJ) — Producers Midstream II, LLC has launched a binding open season to gauge shipper demand for firm transportation on its proposed Palo Duro (PD) Pipeline, a 275-mile (about 443-km) natural-gas line that will link residue markets at Waha in the Permian Basin with Mid-Continent outlets in the Anadarko Basin.
The project will repurpose existing 16-inch pipe running from Nolan County, Texas, to Wheeler County, Texas, and lease capacity on the company’s gathering header into western Oklahoma. Because no new pipe construction is planned, the company will seek interstate authority from the Federal Energy Regulatory Commission under Section 7(c) of the Natural Gas Act, aiming for a first-quarter 2026 in-service date.
“This Open Season marks a key milestone for the Palo Duro Pipeline and underscores our commitment to delivering scalable, market-responsive infrastructure,” said Matt Flory, Producers Midstream’s chief executive officer. “The pipeline's unique interconnectivity and strategic positioning creates a much-needed additional outlet for constrained Permian gas, while also supporting the rapid growth of AI-driven power solutions and other emerging sources of demand.”
The north–south line will interconnect with up to seven interstate systems—Northern Natural Gas, Transwestern, NGPL, ANR, Panhandle Eastern, Enable Gas Transmission and Southern Star—giving shippers multiple downstream options. Producers Midstream said the route is designed to ease Permian takeaway bottlenecks while meeting rising industrial, petrochemical, power-generation and behind-the-meter loads.
The open season runs June 30–July 14. Full bidding procedures and technical details are available at Producers Midstream’s website. Interested parties can contact the company’s marketing team at marketing@producersmidstream.com or 214-238-5740.
Mary Holcomb is the Digital Editor & Operations Manager at Gulf Energy Information, overseeing the Pipeline & Gas Journal, World Oil, and Underground Infrastructure brands. With over 5 years of experience, she drives digital content strategy and operations for these industry-leading publications.
Pipeline Gas Journal
oil-gas
30 June 20252 min read275-Mile Texas-To-Oklahoma Gas Pipeline Enters Open Season
Pipeline Gas Journal
30 June 2025
oil-gas
Adnoc Drilling Awarded Five-Year Contract For Oilfield Services Worth Up To $800 MillionADNOC Drilling Company PJSC (“ADNOC Drilling” or the “Company”) (ADX symbol: ADNOCDRILL / ISIN: AEA007301012) announced today the award of a contract valued at up to $800 million by ADNOC Onshore for the provision of integrated hydraulic fracturing services for conventional and tight reservoirs. The five-year agreement is set to commence in 3Q 2025, marking another significant milestone in ADNOC Drilling’s evolution as a fully integrated technology-enabled energy services company.
This award further reinforces ADNOC Drilling’s leadership in high-tech oilfield services, combining next-generation equipment, artificial intelligence (AI) and real-time intelligence to deliver smarter, safer and more sustainable energy outcomes.
Commenting on the award, Abdulla Ateya Al Messabi, ADNOC Drilling CEO, said: “This significant contract is a powerful endorsement of ADNOC Drilling’s expanding capabilities and our trusted partnership with ADNOC Onshore. It reflects our ability to deliver high-impact, technologically advanced fracturing services that will help unlock the UAE’s energy potential. As we continue our transformation, we are proud to support the nation’s strategic energy goals and reinforce our position as a leader in integrated drilling and completion solutions.”
The contract’s scope of work supports ADNOC’s strategic goal to accelerate the development of conventional and tight reservoirs across the UAE and includes the design, execution and evaluation of multistage hydraulic fracturing treatments, which will be deployed across a wide range of assets in Abu Dhabi. Fracturing services for conventional and tight reservoirs are used to enhance the flow of oil or gas through existing natural pathways and optimize production by improving flow rates.
ADNOC Drilling will deploy advanced technologies throughout the project to maximize efficiency and performance. Proprietary fracturing simulation software will be used to optimize every stage of the operation, increasing flow rates and overall hydrocarbon recovery. Intelligent fluid systems will adapt dynamically in real-time to reservoir conditions, improving fracture efficiency and reducing environmental impact. Automated pumping units and blending systems will enhance safety, streamline operations and reduce the need for on-site manpower.
This marks the fifth contract in just over two months, including a $1.63 billion five-year contract for Integrated Drilling Services (IDS), a $806 million contract for three island rigs and a $1.15 billion 15-year contract for two jack-up rigs, all awarded by ADNOC Offshore, and a $400m backlog of ADNOC Drilling’s signed acquisition in Oman and Kuwait.
Gulf Oil and Gas
oil-gas
30 June 20252 min readAdnoc Drilling Awarded Five-Year Contract For Oilfield Services Worth Up To $800 Million
Gulf Oil and Gas
30 June 2025
oil-gas
Medco Energi Acquires Stake In Repsol’S Indonesian Gas Operation For $425MIndonesian oil and gas operator Medco Energi Internasional has reached an agreement with Spanish energy company Repsol E&P to acquire a 24% stake in the Corridor Production Sharing Contract (Corridor PSC), indirectly held by Fortuna International, for $425m (Rp6.88trn).
The transaction is expected to enhance Medco Energi’s portfolio, with completion anticipated in the third quarter of 2025 (Q3 2025).
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The Corridor PSC, situated onshore in South Sumatra, Indonesia, comprises seven producing gas fields and one oilfield.
The gas from these fields is sold under long-term contracts to buyers in Indonesia and Singapore, ensuring a stable revenue stream.
MedcoEnergi president director Hilmi Panigoro said: “This acquisition supports our strategy of owning and developing high-quality, cash-generative assets and reaffirms our commitment to national development where natural gas is a vital bridge to a lower-carbon future.”
Medco Energi reported EBITDA (earnings before interest, taxes, depreciation and amortisation) of $332m in Q1 2025, surpassing its figures from Q4 2024.
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This financial uptick is attributed to effective cost management strategies, although it has been partially offset by seasonal variations leading to reduced gas demand.
Repsol, with a presence in more than 20 countries, is focusing on its upstream business to prioritise more lucrative assets.
This divestment aligns with its strategy to concentrate on assets with higher profitability and cash generation capabilities.
The sale is expected to positively influence Repsol’s financials, with an estimated $70m boost to its annual income, reported Reuters.
Moreover, the transaction will contribute to a reduction in Repsol’s net debt of approximately $350m, underscoring the deal’s strategic financial benefits.
In December last year, GeoPark signed binding sales and purchase agreements to acquire Repsol’s upstream oil and gas assets in Colombia.
Offshore Technology
oil-gas
27 June 20252 min readMedco Energi Acquires Stake In Repsol’S Indonesian Gas Operation For $425M
Offshore Technology
27 June 2025
oil-gas
Abbott Unveils $105 Million Loan For New 122-Mw Gas Plant In Texas(Reuters) — Texas Governor Greg Abbott announced on June 26 that the first Texas Energy Fund (TEF) loan agreement will be used to fund a 122 megawatt (MW) natural gas power plant in Texas.
"Under the loan agreement, subject to customary financial closing procedures, total project costs are not to exceed $175 million, with the PUC providing a 20-year TEF loan of up to $105 million at a 3% interest rate," said a press release on Abbott's official website.
The governor's office added that the Kerrville Public Utility Board is the project's sponsor and will develop the facility, which is projected to begin operations by 2027.
The facility will interconnect to the South Load Zone adjacent to Houston Load Zone, one of the largest electricity demand centers in the state.
Pipeline Gas Journal
oil-gas
27 June 20251 min readAbbott Unveils $105 Million Loan For New 122-Mw Gas Plant In Texas
Pipeline Gas Journal
27 June 2025
oil-gas
Boem Proposes Oil, Gas Lease Sale For 80 Million Acres In Gulf(WO) — The Bureau of Ocean Energy Management (BOEM) has published a Proposed Notice of Sale (PNOS) for Lease Sale 262, the first of three offshore auctions in the Gulf of America under the 2024–29 Outer Continental Shelf Leasing Program.
The sale would offer about 15,000 unleased blocks—roughly 80 million acres—located 3 to 231 miles offshore in water depths from 9 ft to more than 11,100 ft.
“Offshore oil and gas play a vital role in our nation's energy portfolio, with the Gulf of America supplying 14 percent of domestically produced oil,” said Matt Giacona, BOEM’s principal deputy director. “This proposed lease sale demonstrates BOEM’s commitment to advancing American Energy Dominance and fostering the production of affordable, reliable energy resources for the nation.”
BOEM estimates the broader Gulf outer continental shelf holds about 48 billion barrels of undiscovered oil and 141 Tcf of natural gas. Leases awarded through Sale 262 would be limited to exploration and development; areas withdrawn by a 2020 presidential order, portions near the Eastern Gap and the Flower Garden Banks National Marine Sanctuary remain off-limits.
To encourage industry interest, the agency is proposing a 16 ⅔ percent royalty rate for both shallow- and deepwater tracts, the lowest deepwater rate since 2007. “To support robust industry participation, lower production costs, and unleash the full potential of the Gulf of America’s offshore energy reserves, BOEM is proposing a royalty rate of 16 ⅔ percent for both shallow and deepwater leases—the lowest rate for deepwater since 2007,” said Laura Robbins, acting regional director for the Gulf.
The PNOS appears in the Federal Register on June 27, opening a 60-day comment period for Gulf-state governors and local governments. BOEM expects to issue a Final Notice of Sale at least 30 days before the scheduled bid reading, now targeted for Dec. 10, 2025, which will be livestreamed.
World Oil
oil-gas
26 June 20252 min readBoem Proposes Oil, Gas Lease Sale For 80 Million Acres In Gulf
World Oil
26 June 2025
oil-gas