Azule Energy has reached final investment decision on the Greater PAJ project offshore Angola, the country’s first integrated cross-block development. The project will develop five fields through a new FPSO with 95,000 bpd production capacity and is targeting first oil in 2029.
Month: August 2026
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Baker Hughes wins long-term support agreement for ANOH gas project
Baker Hughes has secured a long-term service agreement for Nigeria’s ANOH Gas Processing Plant, providing turbomachinery maintenance, digital monitoring and engineering support for one of the country’s key domestic gas infrastructure projects.
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Santos brings first Pikka wells online in Alaska
Santos has commenced continuous production operations at the Pikka Phase 1 development on Alaska’s North Slope, with initial output of approximately 20,000 bpd. The company is targeting plateau production of 80,000 bpd during the third quarter of 2026.
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Oil continues flowing through Hormuz despite Iran’s closure claim
Despite Iran’s announcement that the Strait of Hormuz is closed, millions of barrels of crude continue to move through the critical shipping lane. The conflicting signals highlight the uncertainty still facing global oil markets as U.S.-Iran negotiations get underway.
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North Sea Carmen discovery confirmed with up to 107 MMboe recoverable
An appraisal well has confirmed the Carmen gas-condensate discovery offshore Norway, with recoverable resources estimated at up to 107 MMboe. Partners are now evaluating tieback development options and additional drilling in the North Sea.
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Perenco advances 600-Bcf Su Tu Trang gas project offshore Vietnam
Perenco has advanced the Su Tu Trang Phase 2B development offshore Vietnam with a new gas sales agreement, paving the way for a project expected to deliver more than 600 Bcf of natural gas and support the country’s growing energy needs.
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Chevron signs 20-year Microsoft power deal for West Texas AI project
Chevron has signed a 20-year agreement to supply power to a Microsoft-operated data center from a planned 2.67-GW West Texas project, highlighting the growing role of Permian natural gas in supporting AI-driven electricity demand.
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Tampnet wins connectivity contracts for two deepwater Gulf developments
Tampnet has been awarded contracts to provide subsea fiber and 5G connectivity for two deepwater developments in the U.S. Gulf. The projects are part of a broader network expansion that will add 400 km of subsea fiber infrastructure and increase offshore digital connectivity across the region.
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Big Business Urges Faster Electrification
A group of major international corporations has urged governments to speed up the electrification of business to reduce reliance on “volatile fuel markets”, Reuters reported today, citing a letter penned by the heads of the companies. “Continued reliance on volatile fuel markets exposes economies to disruptions that drive price spikes, destabilise supply chains and delay investment,” the companies wrote in the letter. The group wrote. There were 112 signatories to the letter, including Ikea, Nestle, Volvo Cars, Nikon, Iberdrola,…
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The AI Arms Race Isn’t About Technology – It’s About Electricity
Two and a half years ago, NVIDIA was a $300 billion gaming chip company. Today it’s the most valuable company in history at over $4 trillion. Investors who saw what was coming and got positioned early made generational money. A $10,000 stake in NVIDIA at the start of 2023 is worth more than $130,000 today. The trade looks obvious in hindsight, but very few investors caught it in real time. Demand for AI compute had exploded, the supply of high-end chips couldn’t catch up, and NVIDIA happened to be the only company on earth capable of making what…
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