1. The number of active oil and gas drilling rigs in the United States increased for the third consecutive week
Baker Hughes, a US oil service company, said in a closely watched report last Thursday that as of the week of December 23, the number of active oil and gas drilling rigs in the United States increased by 7 to 586, the highest level since April 2020. The number of drilling rigs increased by 238 (68%) over the same period last year.
The report was released one day ahead of schedule for the Christmas holiday.
2. ADNOC and taqa launched a $3.6 billion project to achieve offshore decarbonization
The Abu Dhabi National Energy Corporation (taqa) and the Abu Dhabi National Oil Corporation (ADNOC) announced a US $3.6 billion strategic project last Wednesday, which aims to significantly decarbonize ADNOC’s offshore production business, so as to strengthen its position in promoting sustainable development, and support the “strategic initiative to achieve zero net emissions by 2050″ of the United Arab Emirates.
According to the two companies, the project will develop and operate what they call the first high voltage direct current (HVDC-VSC) submarine transmission system in the Middle East and North Africa (MENA). It will provide cleaner and more efficient energy for ADNOC’s offshore production business through the Abu Dhabi onshore power grid, which is owned and operated by taqa’s transmission and distribution company.
3. Petronas awarded 6 offshore oil and gas exploration blocks through bidding in 2021
Petronas awarded 6 of the 13 offshore oil and gas exploration blocks in the recently concluded Malaysia bidding (MBR) in 2021. The MBR is held once a year to provide oil and gas exploration blocks, discovered but undeveloped resources and long-term assets for oil companies.
These six blocks are SB412, 2W, x, sk427, sk439 and sk440 blocks, which are awarded to existing and new companies in Malaysia’s offshore oil and gas industry respectively.
4. India launches largest ever oil bidding
India last week launched bidding for 75 oil and gas blocks, the largest oil and gas bidding in the industry’s history.
According to the oil and gas administration of India, the bidding is for the so-called discovered small oil fields (dsfs) in 32 contract areas on land and offshore. Investment will be accepted on February 1 next year.
Post time: Dec-30-2021