1. Turkey finds new gas in the Black Sea
Turkey’s president Erdogan announced Friday that Turkey found another 135billion cubic meters of natural gas in the Black Sea and plans to start production in 2023. This has brought the total amount of natural gas found in Turkey to 54billion cubic meters in the region. Previously, Turkey’s Fatih drilling vessel discovered 405billion cubic meters of natural gas in the Sakari gas field in the Black Sea in 2020, the country’s largest.
In recent years, Turkey has increased its exploration of offshore oil and gas. Erdogan has used recent energy discovery as a solution to Turkey’s long-term economic vulnerability.
2. The world’s top offshore wind power companies plan to invest $57billion to triple capacity
Danish renewable energy company Ø Rsted is the largest offshore wind farm developer in the world. The company plans to invest US $57.46 billion (DKR 350 billion) in green energy by 2027 as part of a new strategy to become a global green energy giant to triple its installed capacity to 50 gigawatts by 2030.
3. Chevron to sell shares in Canadian oil sands
Mike Wirth, chief executive of Chevron, said at the 37th annual strategic decision-making meeting in Bernstein last week that he would consider selling his 20% stake in the Canadian oil sands mine as the company faced pressure from investors to take more measures to curb emissions and cope with climate change.
4. KCa deutag gets $550 million drilling contract
KCa deutag reported last week that it had won three drilling contracts for platforms with a total value of about $550 million. The contract covers platform drilling services in the North Sea of Russia, the UK and Norway.
5. Appalachian producers enter hainsville for $2.7 billion
Southwest energy reported last week that it had agreed to buy heinsville shale producer indigo natural resources, LLC, for about $2.7 billion.
Headquartered in springwoods village, Texas, USA, southwest energy company is an independent energy company engaged in the exploration, development, production and marketing of natural gas, natural gas liquids and oil. Indigo is one of the largest natural gas producers in the hainsville shale and the third largest private natural gas producer in the United States. Its core dry gas assets are located in payhaynesville and Bossier districts in northern Louisiana. The acquisition strengthens southwestern’s position as a leading natural gas producer.
6. The number of U.S. oil and gas rigs fell for the first time in six weeks
While crude oil prices have reached their highest level since 2018, US energy companies cut the number of oil and gas rigs for the first time this week as growth in drilling activity slowed.
In the week ending June 4, the number of oil and gas rigs in the United States, the leading indicator of future production, fell by one to 456, according to Baker Hughes, a service company. Although the number of rigs decreased this week, the total number of rigs increased by 61%, or 172, compared with the same period last year.
7. The first pipeline of Beixi 2 completed
On June 4, Russian President Vladimir Putin said at the plenary meeting of the St. Petersburg international economic forum that Russia has completed the first pipeline laying of the Beixi 2 natural gas pipeline to Germany.
Beixi 2 is two parallel 48 inch diameter pipelines, about 1200 kilometers long, starting from southwest St. Petersburg and ending at grifswald on the German coast. The Beixi 2 gas pipeline will be able to deliver 55 billion cubic meters of Russian gas to the EU every year for at least 50 years.
8. Uganda chooses four companies for a new round of oil exploration
Uganda has put four companies on the exploration waiting list after its second oil exploration bidding. These companies include France’s total (recently renamed total energies), Australia’s DGR global, Nigeria’s petrolafrik energy resources and Uganda’s state-owned oil company. The tender involves five oil blocks on the border between Uganda and Congo.
Post time: Jun-07-2021