While the development of recent offshore gas discoveries at Gorgon, Uchuva, and Orca has been identified as crucial, several uncertainties and hurdles need to be addressed, according to energy industry intelligence group Wood Mackenzie.

According to figures provided by GlobalData, a data and analytics group, there was a significant quarter-on-quarter surge of 60% in disclosed contract values, amounting to nearly £41 billion, up from £25.5 billion in the previous quarter.

The FPSO Maria Quitéria will be stationed at the Parque das Baleias integrated project, situated in the Petrobras-operated Jubarte field within the northern Campos Basin.

OMV, the energy company, has confirmed the successful discovery of natural gas at the Wittau Tief-2a exploration well in Lower Austria.

The drilling of the Kupe South 9 development well, contracted for 70 days, was initially scheduled to start in the third quarter of 2023 but has been delayed to late in the first quarter of 2024.

Preliminary analysis of the gas measurements in the mud logging results indicates over 40 meters of potential natural gas pay within six separate sands in the Akçakoca Member of the SASB production zone.

The Australian Petroleum Production & Exploration Association (APPEA) believes that Western Australia (WA)’s Mineral and Petroleum Review 2021-22 highlights the importance of the oil and gas industry to the state and national economies, as this sector has reinforced WA’s fourth straight resources sales record.

Qatar’s state-owned giant QatarEnergy has joined an industry initiative, which aims to eliminate methane emissions from the oil and gas industry by 2030.

The transition to renewable energy is not without its challenges, but today’s markets are increasingly shifting in response to it. Understanding the massive swings in energy supply and demand taking place will enable oil and gas traders to confidently plan for the years ahead, especially as capital allocations shift in response to market signals.

Africa is conservatively forecast to reach peak gas production at 470 billion cubic meters (Bcm) by the late 2030s, equivalent to about 75 per cent of the expected amount of gas produced by Russia in 2022, according to research by Rystad Energy.