• April 23, 2024

Odfjell Drilling's Hercules semi-sub rig (Bloomberg) – Galp Energia SGPS SA’s shares jumped after the Portuguese oil company said a well test “potentially” indicates Mopane could be an important commercial find in Namibia. The stock climbed as much as 21% in Lisbon to €19.37, the highest since 2007. “The flows achieved during the well test have reached the maximum allowed limits of 14,000 boed, potentially positioning Mopane as an important commercial discovery,” Galp said in a regulatory filing on Sunday. “In the Mopane complex alone, and before drilling additional exploration and appraisal wells, hydrocarbon in-place estimates are 10 Bboe, or higher.” Oil finds by Galp in Namibia have added to discoveries drilled off the southwest African nation. In the past two years, majors Shell Plc and TotalEnergies SE have made finds that turned the sparsely populated country into a hotspot for exploration on the continent. Galp said on Sunday that it “successfully” completed the first phase of the Mopane exploration campaign with the conclusion of the Mopane-1X well testing operations. Galp said it plans to further explore, appraise and develop the wider Mopane complex. Lisbon-based Galp is the operator with 80% of the license area. National Petroleum Corp. of Namibia, or Namcor, and Custos each hold 10% stakes. Galp also holds stakes inoffshore oil blocks in Brazil. Lead image: A sign above the Galp Energia SGPS SA booth on day two of the Web Summit in Lisbon, Portugal, on Thursday, Nov. 3, 2022. The Web Summit runs from 1-4 November. (Photographer: Zed Jameson/Bloomberg) Joao Lima, Bloomberg April 22, 2024

• March 27, 2024

CIPPE (China International Petroleum & Petrochemical Technology and Equipment Exhibition) is annual world’s leading event for oil & gas industry, annually held in Beijing. It is a great platform for connection of business, showcasing of advanced technology, collision and integration of new ideas; with the power to convene industry leaders, NOCs, IOCs, EPCs, service companies, equipment and technology manufacturers and suppliers under one roof across three days. China is the world’s largest oil and gas importer, also the second largest oil consumer and third largest gas consumer in the world. With the high demand, China is continuously increasing oil and gas exploration and production, developing and seeking for new technologies in unconventional oil and gas development. CIPPE 2024 will offer you an excellent platform for seizing the opportunity to enhance and increase your market share in China and the world, display products and services, network with existing and new clients, forge partnerships and discover potential opportunities. Welcome to visit JST at the CIPPE Exhibition (March 25-27, 2024) at Beijing·New China International Exhibition Center Booth W1212. JST has 29 years experience in the Oil & Gas seals designing and application.  JST Seals is a leading manufacturer of high-performance seals for countless industries including oil and gas, semiconductor, LNG, chemistry, coal mining, medical equipment and others. We aim high and look far, providing professional and reliable sealing solutions for particular harsh applications. Contact us if need any seals!

• February 05, 2024

We will have Chinese New Year Hoilday from 8th Feb. to 17th Feb. Thank you for all supports in 2023, wish you all the best in 2024.

• January 23, 2024

Chevron has announced its plans to sell its natural gas business in Canada’s. Chevron’s assets in Canada, which currently produce 40,000 barrels of oil and gas per day from 235,000 acres in central Alberta,  estimates the potential value of the assets could be sold for up to $900 million. Chevron plans to divest between $10 billion and $15 billion in assets by 2028, following its recent deals with companies such as Hess Corp., PDC Energy, and Noble Energy. These deals have significantly increased the company’s oil and gas output. The company is proud of its performance in the Duvernay field and holds a strong position in the area. The business has both current production and potential growth opportunities, according to Reuters. Notably, the company’s other operations in Canada will not be affected by this decision. Chevron plans to focus more than 75% of its upstream capital expenditures on various regions including US shale basins, the Gulf of Mexico, the Eastern Mediterranean, Guyana, Australia, and Kazakhstan. This decision followed the company’s announcement of a deal with Hess, which is pending regulatory approvals and is expected to close in the second half of the year. Chevron first announced its plans to develop the East Kaybob region of the Duvernay play in Alberta in 2017, after three years of appraising the area. By 2022, 243 wells in the field had been tied into production facilities. The Duvernay has seen a surge in licensing activity and productivity improvements, with costs decreasing from as high as C$20 million per well a decade ago to C$10 million-C$15 million today, according to analysts at brokerage Eight Capital. They noted that the Duvernay will become a key focus for the industry in 2024, as operators have done enough drilling to understand how to optimize the technology. Source: https://egyptoil-gas.com/news/chevron-to-sell-natural-gas-business-in-canada/