Pat Davis Szymczak

2 weeks ago | jpt.spe.org | Pat Davis Szymczak

ADNOC’s investment subsidiary, XRG, has closed on the acquisition of Galp’s 10% interest in Mozambique’s Area 4 concession in the Rovuma basin—Mozambique Romuva Venture (MRV), led by ExxonMobil and Eni.

3 weeks ago | jpt.spe.org | Pat Davis Szymczak

BP Trinidad and Tobago (bpTT) has taken a final investment decision (FID) to develop the offshore Ginger gas field in the southeastern Caribbean, one of 10 new upstream projects the supermajor aims to bring on-stream by 2027. In addition to greenlighting Ginger, BP also revealed that its Frangipani exploration well east of the Mahogany field gas hub identified multiple stacked gas reservoirs within the same geological structure some 50 miles off Trinidad’s east coast.

3 weeks ago | jpt.spe.org | Pat Davis Szymczak

Austria’s OMV Petrom and Romania’s Romgaz have spud the first of 10 development and production gas wells to be drilled in the Pelican South and Domino natural gas fields in Romania’s Neptun Deep block 160 km offshore in the Black Sea. The Transocean Barents harsh-environment, ultradeepwater mobile drilling unit is executing the campaign which starts with the first of four wells at Pelican South and six wells at the Domino gas field.

3 weeks ago | jpt.spe.org | Pat Davis Szymczak

South America, the Middle East, and Africa are emerging as key growth drivers in global oil and gas investment for the coming 3 to 5 years, fueled by greenfield developments, exploration, and midstream infrastructure spending currently in project pipelines. While analysts report a 15% annual growth in global oil investment since the pandemic, the rebound has merely offset previous declines, as oil-producing countries use energy resources in diverse ways to meet domestic and foreign policy goals.

3 weeks ago | jpt.spe.org | Pat Davis Szymczak

Italy’s major Eni has announced plans to sell $1.65 billion of its West African assets in Côte d’Ivoire and the Republic of Congo to Vitol. This move is part of Eni's ongoing strategy to generate short-term cash by reshaping its asset portfolio. Eni will retain interests in the assets targeted for partial divestment including the giant Baleine discovery, Eni’s first development in Cote d’Ivoire and Africa’s first net-zero emissions development.