Cook Inlet Oil & Gas Lease Sale 244 will offer 224 blocks toward the northern part of the federal Cook Inlet Planning Area for leasing, BOEM said May 18. The blocks stretch roughly from Kalgin Island in the north to Augustine Island in the south.
Using oil and gas industry technology and land-based wind technology, the U.S. offshore wind sector could help close the gap in electrical generation by 2050.
The move follows Secretarial Order 3350, which implements President Trump’s America-First Offshore Energy Strategy, and reverses a decision by the previous administration that ordered BOEM to deny the permit applications.
There is a big disconnect between the goals of deepwater firms and private equity’s needs.
ExxonMobil is in talks to gain access to Brazil's deepwater oil resources, the Wall Street Journal reported April 4, citing people familiar with the matter.
Eni and Total are in a consortium for one of the blocks and ExxonMobil and Qatar Petroleum have joined up for another. Eni will be on its own in a third block. The blocks were offered in the third licensing round held by Cyprus, Reuters reported.
ExxonMobil Corp. has agreed to pay Italy’s Eni $2.8 billion for a 25% stake in a giant Mozambique gas field to strengthen its position supplying rich Asian markets.
Statoil plans to drill five to seven wells in the Barents Sea in 2017 and will continue its campaign in 2018. A final decision on the company's U.S. GoM plans will come within a few weeks.
The sector has benefited from OPEC’s production cut, analysts say, but declining demand remains.
Shell is seeking to sell its stake in Denmark's offshore oil and gas consortium for around $1 billion in what would mark the company's effective exit from the country, three banking sources said Feb. 6.