1. Pemex signed an agreement with new fortress energy to restart the lakach offshore natural gas project
Pemex plans to restart production after six years of shutdown at the lakach deepwater field near the coast of Veracruz. Pemex has signed a letter of intent with new fortress energy on this project. According to a statement of the company, the reserves of the oil field are 900billion cubic feet. The project will finally be put into operation in July 2023.
2. The United States released the “proposed plan” of the outer continental shelf oil and gas development plan from 2023 to 2028
The U.S. Department of the interior released the “national OCS program” of the outer continental shelf oil and gas development program from 2023 to 2028 last Friday. The proposed program will prevent new offshore oil drilling projects in the Atlantic and Pacific in the next five years, but allow limited expansion of drilling operations in the Gulf of Mexico and the south coast of Alaska, opening the door for more offshore oil and gas drilling in federal waters in the next five years.
3. Equinor transfers the operation right of North Platte project to shell
Norwegian state-owned oil and gas giant equinor recently signed an agreement to transfer 51% of its interest in the North Platte deepwater development project in the Gulf of Mexico to the UK based oil giant shell, and renamed the project Sparta development project.
The Sparta project spans four blocks of the garden banks area, 171 miles from the Louisiana coast, and is about 4265 feet deep. The front-end engineering and design (feed) of the project is mature.
Once the transaction is completed, shell will become the new operator of the oil field.
4. Australia made the final decision on the second double reverse sunset review of welded pipes related to China
The Australian anti dumping Commission issued announcement No. 2022/049 last week, saying that it passed the positive final determination of the second sunset review of anti-dumping and countervailing on the imported Chinese Mainland welded pipe (certain hollow structural sections), and decided to continue to impose an ad valorem duty of 0.0% – 26.3% on the products involved in the case. The Australian customs codes of the products involved are 7306.30.00.31, 7306.30.00.32, 7306.30.00.33, 7306.30.00.34, 7306.30.00.35, 7306.30.00.36, 7306.30.00.37, 7306.50.00.45, 7306.61.00.21, 7306.61.00.22, 7306.61.00.25, 7306.61.00.90, 7306.69.00.10, 7306.90.00.12. The announcement will take effect after July 3, 2022. (source: website of the Ministry of Commerce).
5. India promotes oil exploration in deep-water basins
India is vigorously promoting oil and gas exploration in the Andaman deep-water basin. The plan involves drilling three to four wells in the Andaman Sea. The authorities plan to fund the drilling activities led by ONGC and relax the approval procedures.
Against the backdrop of strong demand and rising international oil prices, India is seeking to increase its oil production
Post time: Jul-08-2022