Mozambique has finalized agreements with Chinese oil company the China National Offshore Oil Corporation (CNOOC) for the exploration and production of five offshore blocks. These blocks, located in both shallow and deep waters, were awarded as part of the country’s sixth licensing round initiated by the Mineral Resources and Energy ministry.
Chinese offshore oil and gas major said it had filed an arbitration claim to establish a right over Hess’ stake in the giant Guyana oilfield Stabroek in the event of the U.S. firm’s sale to Chevron.
Shell Offshore Inc, a subsidiary of the UK-headquartered energy giant Shell, has initiated production from a deepwater oil project situated in the U.S. Gulf of Mexico (GOM). This project involves a subsea tie-back to Shell’s operated Appomattox production hub, marking a significant milestone in the company’s efforts to harness offshore oil resources.
China’s offshore giant CNOOC aims to raise its oil and gas output to 1.95 million b/d of oil equivalent in 2024, about 5.2% higher from its estimated output of 1.85 million boe/d last year, the state-owned company said late-Jan. 25.
The Ministry of Energy has terminated negotiations with four oil companies after more than two years of unfruitful negotiations for petroleum agreements over their respective blocks.
In a first for Chinese offshore shale, state-run oil giant CNOOC has announced what it claims to be a commercial discovery in the Beibu Gulf in the South China Sea with the tapping of oil and gas flows at a wildcat well.
The East African Crude Oil Pipeline (EACOP) represents a critical solution to making energy poverty history in Africa by 2030