Page 5 - Digging Crew News Today

Investments in oil and gas production continue to come up short, threatening energy security and affordability, the secretary general of OPEC said on Tuesday.

Subsea7 today announced a sizeable1 award by Petrobras for a pipelay support vessel (PLSV) offshore Brazil. The agreement extends an existing contract for Seven Cruzeiro from February until November 2023.

Talos Energy has closed the previously announced $1.1bn acquisition of EnVen Energy, a private operator in the deepwater US Gulf of Mexico.

Renewable energy will become the world’s top source of electricity within three years, new data reveals.

New discoveries and the investment and production activity in Norway, Germany’s new LNG import terminals, and the UK’s new offshore wind agreements and green ports have featured in Europe’s energy sector over the past month.

Scotland’s draft energy strategy, the 33rd UK offshore oil and gas licensing round, and company drilling and activity plans were the spotlight in the UK North Sea oil and gas industry in the past month.

Technip Energies, a leading engineering and technology company for the energy transition, has secured a large project management consultancy contract from Kuwait Oil Company (KOC).

THREE60 Energy is beginning 2023 with strong growth following its acquisition of Fraser Well Management, a well and pipeline operator and well management specialist.

Mergers involving UK oil and gas supply chain services may face heightened regulatory scrutiny as a result of the CMAs particular interest in highly concentrated markets.

The OPEC+ group left their target production level unchanged amid many uncertainties in the oil market, OPEC didn’t make material changes in its estimates of global oil demand growth, while the biggest oil and gas firms in the Middle East made major announcements and signed landmark deals in December.