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Oil And Gas Production Capacity News

06 Oct 2021

California Lawmakers Look to Ban Offshore Drilling after Spill

Crude oil is shown in the Pacific Ocean offshore of Orange County, Oct. 3, 2021. / Official U.S. Coast Guard photo.

Democratic members of Congress from California seized on the oil spill off the state's coast to promote federal legislation to ban all offshore oil drilling, as investigators searched for what caused the pipeline to burst.About 3,000 barrels (126,000 gallons) of crude oil spilled into the Pacific Ocean, killing wildlife, soiling the coastline, and forcing officials to close beaches in several cities in Orange County, just south of Los Angeles. The spill follows dozens of incidents in the Gulf of Mexico following Hurricane Ida, which slammed into the U.S.

09 Aug 2018

Gas to Become World's Primary Energy Source by 2035

Oil and gas will be crucial components of the world’s energy future, according to DNV GL’s forecast of the energy transition. While renewable energy will grow its share of the energy mix, oil and gas will account for 44% of world energy supply in 2050, compared to 53% today.Gas will become the largest single source of energy from 2034.DNV GL’s Energy Transition Outlook (ETO), a forecast that spans the global energy mix to 2050, predicts that global demand for energy will flatten in 2030, then steadily decline over the next two decades, thanks to step-changes in energy efficiency. The fossil fuel share of the world’s primary energy mix will reduce from 81% currently to 52% in 2050.Demand for oil will peak in 2022…

05 Sep 2017

Gas to Become World's Primary Energy Source by 2035: DNV GL

Oil and gas will be crucial components of the world’s energy future, according to DNV GL’s forecast of the energy transition. While renewable energy will grow its share of the energy mix, oil and gas will account for 44% of world energy supply in 2050, compared to 53% today. Gas will become the largest single source of energy from 2034. DNV GL’s Energy Transition Outlook (ETO), a forecast that spans the global energy mix to 2050, predicts that global demand for energy will flatten in 2030, then steadily decline over the next two decades, thanks to step-changes in energy efficiency. The fossil fuel share of the world’s primary energy mix will reduce from 81% currently to 52% in 2050.

28 Feb 2017

Shell Approves New Gulf of Mexico Project

Royal Dutch Shell has given the go-ahead to develop its Kaikias deepwater field in the Gulf of Mexico, the first such project the oil and gas company has approved in 18 months. Oil companies around the world are emerging from one of the longest downturns in recent decades amid warnings that the drop in investment in recent years may lead to a supply deficit by the end of the decade. Shell said the Kaikias oil and gas project, located some 210 kilometres (130 miles) from the Louisiana coast, will start production in 2019 and generate profits with oil prices lower than $40 a barrel after the company slashed its costs by around 50 percent due to simplified design plans. Oil prices were around $56 a barrel on Tuesday.

31 Oct 2007

Consortium Win $1.2B Petrobras Deal

In the foreground is the P-52 FPU departing the yard on 11 September 2007. The consortium of Keppel FELS Brasil S/A and Technip Brasil Engenharia, Instalacoes e Apoio Maritimo S/A (Technip), FSTP Pte Ltd, has secured a $1.2 billion contract to build a semisubmersible Floating Production Unit (FPU) for Petrobras Netherlands BV (PNBV). FSTP is a 75/25 consortium company between Keppel Offshore & Marine (Keppel O&M) and Technip. The rig, to be named P-56, is expected to be delivered ex-yard in the last quarter of 2010. P-56 will be a repeat of the P-51 FPU which is currently being built at Keppel FELS Brasil’s BrasFELS yard. With this contract, the total orders secured to-date in 2007 by Keppel O&M is S$6.25 billion.