McDermott has been awarded a substantial* subsea contract by Eni Cyprus Limited (Eni) for the Cronos gas field development offshore Cyprus, marking McDermott's first subsea project award with Eni and expanding the company's presence in the Eastern Mediterranean region.
Under the contract, McDermott will provide project management, engineering, procurement and installation support for the development of the Cronos gas field.
"This award demonstrates the strength of McDermott's integrated subsea engineering, procurement, construction and installation capabilities and reflects the value we bring through our technical expertise and differentiated deepwater asset, the Amazon," said Mahesh Swaminathan, McDermott's Senior Vice President, Subsea and Floating Facilities. "Our global execution teams, supported by reliable local partnerships, will help advance the Cronos development safely and efficiently."
The project will be executed by the Subsea and Floating Facilities team with expertise and resources from Houston, Perth, London and Kuala Lumpur, supported by the company's marine construction fleet.
Tuesday, 6 October 2026
McDermott Awarded Subsea Contract for Cronos Development in Cyprus
The President of the Republic of Argentina, Javier Milei, meets Eni CEO Claudio Descalzi
The President of the Republic of Argentina, Javier Milei, met today in Paris with Eni Chief Executive Officer Claudio Descalzi on the sidelines of the institutional and industrial events organized as part of Argentina Week. During the meeting, the parties discussed prospects for cooperation in the energy sector and investment opportunities in Argentina, with particular focus on the development of the country’s gas resources and projects aimed at strengthening its role in international energy markets.
The meeting provided an opportunity to take stock of the Argentina LNG project, developed by Eni together with YPF and XRG, that aims to exploit the resources of the Vaca Muerta basin through floating liquefaction solutions (FLNG). The project, for which an investment decision is expected by the end of the year, envisages, in an initial phase the production of 12 million tonnes of liquefied natural gas per year (MTPA), through two FLNG facilities with a capacity of 6 MTPA each. Start-up of production is planned in 2030. A subsequent expansion to 18 MTPA is currently under evaluation.
Argentina LNG is one of the most important energy projects currently under development globally; it involves significant investments and represents a strategic initiative to support the growth of the country’s energy exports and contribute to the security of European energy supplies.
The discussion also reaffirmed the importance of promoting a stable and investment-friendly framework for long-term investments, an essential condition for the development of large-scale energy infrastructure projects and for maximizing the value of Argentina’s natural resources.
Eni has been present in Argentina at various stages since 1968. The company operates in the country in the hydrocarbons exploration and production sector and is a partner of YPF and XRG in the development of the integrated Argentina LNG project, which includes a 32% interest in the upstream blocks Meseta Buena Esperanza, Aguada Villanueva and Las Tacanas, in the Vaca Muerta basin.
The meeting provided an opportunity to take stock of the Argentina LNG project, developed by Eni together with YPF and XRG, that aims to exploit the resources of the Vaca Muerta basin through floating liquefaction solutions (FLNG). The project, for which an investment decision is expected by the end of the year, envisages, in an initial phase the production of 12 million tonnes of liquefied natural gas per year (MTPA), through two FLNG facilities with a capacity of 6 MTPA each. Start-up of production is planned in 2030. A subsequent expansion to 18 MTPA is currently under evaluation.
Argentina LNG is one of the most important energy projects currently under development globally; it involves significant investments and represents a strategic initiative to support the growth of the country’s energy exports and contribute to the security of European energy supplies.
The discussion also reaffirmed the importance of promoting a stable and investment-friendly framework for long-term investments, an essential condition for the development of large-scale energy infrastructure projects and for maximizing the value of Argentina’s natural resources.
Eni has been present in Argentina at various stages since 1968. The company operates in the country in the hydrocarbons exploration and production sector and is a partner of YPF and XRG in the development of the integrated Argentina LNG project, which includes a 32% interest in the upstream blocks Meseta Buena Esperanza, Aguada Villanueva and Las Tacanas, in the Vaca Muerta basin.
Eni completes sale of 10% stake to SOCAR in Cote d’Ivoire's Baleine project
Eni announces the completion of the sale of a 10% stake in the Baleine project in Côte d’Ivoire to SOCAR. The Baleine project is the country’s main offshore development and is now owned by Eni (37.25%), Vitol (30%), Socar (10%) and Petroci (22.75%).
The transaction aligns with Eni's strategy of optimising its upstream portfolio by accelerating the monetization of exploration discoveries through the divestment of equity stakes, a model known as the "dual exploration model."
Eni has been present in Cote d’Ivoire since 2015. Baleine is Eni’s first development in the country, and the first net-zero development in Africa. The giant Baleine field was discovered in 2021, two decades after the last commercial discovery in the country and it achieved production in record time, in 2023. Currently, Baleine produces over 57,000 barrels of oil and more than 78 million cubic feet of gas per day from Phases 1 and 2. With the launch of Phase 3, production is expected to rise to 150,000 barrels of oil and 200 million cubic feet of gas per day, positioning Baleine as a cornerstone in meeting the country's domestic energy needs. Alongside Baleine, the Calao and Calao South discoveries (Eni 90% and operator), the second largest after Baleine, confirm the high potential of the basin and further consolidates Eni's presence in the country.
The transaction aligns with Eni's strategy of optimising its upstream portfolio by accelerating the monetization of exploration discoveries through the divestment of equity stakes, a model known as the "dual exploration model."
Eni has been present in Cote d’Ivoire since 2015. Baleine is Eni’s first development in the country, and the first net-zero development in Africa. The giant Baleine field was discovered in 2021, two decades after the last commercial discovery in the country and it achieved production in record time, in 2023. Currently, Baleine produces over 57,000 barrels of oil and more than 78 million cubic feet of gas per day from Phases 1 and 2. With the launch of Phase 3, production is expected to rise to 150,000 barrels of oil and 200 million cubic feet of gas per day, positioning Baleine as a cornerstone in meeting the country's domestic energy needs. Alongside Baleine, the Calao and Calao South discoveries (Eni 90% and operator), the second largest after Baleine, confirm the high potential of the basin and further consolidates Eni's presence in the country.
Thursday, 24 September 2026
TotalEnergies launches the Ima Gas Development to Supply Nigeria LNG liquefaction plant
TotalEnergies (40%, operator), together with its partner AMNI (60%), have taken the Final Investment Decision (FID) for the development of the Ima gas field, straddling the OML 112 and 117 offshore licenses in Nigeria.
Located in shallow waters close to Bonny Island, the Ima gas field will be developed with a single platform, connected through a 22 km pipeline to Nigeria LNG (15%, TotalEnergies). Production start-up is expected in 2028, with a plateau of 350 million cubic feet per day (representing over 60,000 barrels of oil equivalent per day). Once on stream, the Ima field will supply about one-third of the gas required for the ongoing Nigeria LNG Train 7 expansion project, which will increase the liquefaction plant capacity from 22 million tons per annum (Mtpa) to 30 Mtpa.
Ima is a low-cost and low-emissions development, with a simplified platform design, electric power supply from shore, no flaring, and permanent methane detection and monitoring.
Developed in partnership with the Nigerian company AMNI, Ima project is characterized by strong Nigerian content, with all key contractors being local companies. It will also contribute to local community development, with around 60% of the workforce expected to be sourced from host communities during the project development.
“We are very pleased to announce the FID for the Ima gas project, marking a new milestone in the deployment of our integrated gas strategy in Nigeria. After the Ubeta project sanctioned in 2024 and expected to start-up next year, Ima demonstrates again our ability to unlock new low-cost and low-emissions gas resources, following the incentives introduced by the Nigerian Government for non-associated gas developments”, said Nicolas Terraz, President Exploration & Production at TotalEnergies. “This new project will contribute significantly to Nigeria LNG gas supply and create lasting value for its partners and for Nigeria.”
Located in shallow waters close to Bonny Island, the Ima gas field will be developed with a single platform, connected through a 22 km pipeline to Nigeria LNG (15%, TotalEnergies). Production start-up is expected in 2028, with a plateau of 350 million cubic feet per day (representing over 60,000 barrels of oil equivalent per day). Once on stream, the Ima field will supply about one-third of the gas required for the ongoing Nigeria LNG Train 7 expansion project, which will increase the liquefaction plant capacity from 22 million tons per annum (Mtpa) to 30 Mtpa.
Ima is a low-cost and low-emissions development, with a simplified platform design, electric power supply from shore, no flaring, and permanent methane detection and monitoring.
Developed in partnership with the Nigerian company AMNI, Ima project is characterized by strong Nigerian content, with all key contractors being local companies. It will also contribute to local community development, with around 60% of the workforce expected to be sourced from host communities during the project development.
“We are very pleased to announce the FID for the Ima gas project, marking a new milestone in the deployment of our integrated gas strategy in Nigeria. After the Ubeta project sanctioned in 2024 and expected to start-up next year, Ima demonstrates again our ability to unlock new low-cost and low-emissions gas resources, following the incentives introduced by the Nigerian Government for non-associated gas developments”, said Nicolas Terraz, President Exploration & Production at TotalEnergies. “This new project will contribute significantly to Nigeria LNG gas supply and create lasting value for its partners and for Nigeria.”
Tuesday, 22 September 2026
Santos achieves significant milestone at Pikka oil project, advancing ramp-up to plateau production
Santos today announced the successful commencement of seawater injection at the Nanushuk Drillsite-B (NDB) of the Pikka oil project on Alaska’s North Slope. On-specification water export from the seawater treatment plant began on 18 August, building inventory across the approximately 75-kilometre seawater pipeline connecting the Beaufort Sea to the Pikka project site. Injection into the reservoir commenced on 26 August and Santos’ water injection milestone testing has since successfully been completed with current water injection around 40,000 bbls/d.
Seawater injection provides pressure support to the reservoir, a key enabler of the production ramp-up targeting plateau production of approximately 80,000 barrels of oil per day (gross) at the end of the third quarter of 2026.
Continuous production at Pikka commenced in June 2026. Production wells are now delivering production around 40,000 barrels of oil per day (gross), with additional wells planned to be brought online safely and progressively over the coming weeks now that the water injection has come online.
Santos Managing Director and Chief Executive Officer Kevin Gallagher said seawater injection marked a significant step on the path to plateau production.
“Seawater injection is a critical step in unlocking Pikka’s production capacity. With pressure support now established and wells coming online progressively, we continue to target plateau production rates at the end of the third quarter of 2026.
“Pikka is a world-class asset and seawater injection, together with continued efficient drilling and operations, keeps us firmly on track to deliver its full potential,” Mr Gallagher said.
Santos operates the Pikka project and holds a 51 per cent interest in the Pikka Unit, with Repsol holding the remaining 49 per cent interest. The project has been delivered in partnership with contractors, the State of Alaska, Alaska Native corporations and local communities.
Seawater injection provides pressure support to the reservoir, a key enabler of the production ramp-up targeting plateau production of approximately 80,000 barrels of oil per day (gross) at the end of the third quarter of 2026.
Continuous production at Pikka commenced in June 2026. Production wells are now delivering production around 40,000 barrels of oil per day (gross), with additional wells planned to be brought online safely and progressively over the coming weeks now that the water injection has come online.
Santos Managing Director and Chief Executive Officer Kevin Gallagher said seawater injection marked a significant step on the path to plateau production.
“Seawater injection is a critical step in unlocking Pikka’s production capacity. With pressure support now established and wells coming online progressively, we continue to target plateau production rates at the end of the third quarter of 2026.
“Pikka is a world-class asset and seawater injection, together with continued efficient drilling and operations, keeps us firmly on track to deliver its full potential,” Mr Gallagher said.
Santos operates the Pikka project and holds a 51 per cent interest in the Pikka Unit, with Repsol holding the remaining 49 per cent interest. The project has been delivered in partnership with contractors, the State of Alaska, Alaska Native corporations and local communities.
Friday, 23 January 2026
Chevron takes Final Investment Decision on Leviathan gas expansion
Chevron Corporation (NYSE: CVX) by its subsidiary, Chevron Mediterranean Limited (CML), and the working interest owners of the Leviathan natural gas reservoir have reached a Final Investment Decision (FID) to expand the production capacity of the strategic Leviathan production platform located offshore Israel.
“Chevron is a leading energy player in the Eastern Mediterranean where we are focused on natural gas production and exports. Our operations are critical to meeting the growing energy needs of local and regional markets,” said Clay Neff, president of Chevron Upstream.
“Our decision to invest in the expansion of Leviathan’s production capacity reflects our confidence in the future of energy in the region. Pragmatic U.S. and regional energy policies are helping to strengthen energy security across the Eastern Mediterranean and foster an environment that encourages investment in the Middle East and globally.”
The Leviathan expansion project is expected to come online towards the end of this decade.
The project includes drilling three additional offshore wells, adding additional subsea infrastructure, and enhancing the treatment facilities on the Leviathan production platform as we progress towards increasing total gas delivery to Israel and the region to approximately 21 billion cubic meters (BCM) annually from the Leviathan reservoir.
“This milestone demonstrates our ongoing commitment to partner with the State of Israel to develop natural gas resources and provide essential energy to millions of people in Israel, Egypt and Jordan,” said Jack Baker, managing director of Chevron’s Eastern Mediterranean region.
The Leviathan production platform is located approximately 10 kilometers offshore Dor, Israel.
Leviathan working interest owners include Chevron Mediterranean Limited as operator (39.66%), NewMed Energy (45.34%), and Ratio Energies (15%).
In addition to Leviathan, Chevron’s assets in the Eastern Mediterranean include the Tamar gas producing field (offshore Israel), and the Aphrodite gas field which is currently in development (offshore Cyprus). Chevron is also the operator of 2 Egyptian exploration blocks and is in a non-operated joint venture (NOJV) in one Egyptian exploration block (in the Mediterranean Sea).
“Chevron is a leading energy player in the Eastern Mediterranean where we are focused on natural gas production and exports. Our operations are critical to meeting the growing energy needs of local and regional markets,” said Clay Neff, president of Chevron Upstream.
“Our decision to invest in the expansion of Leviathan’s production capacity reflects our confidence in the future of energy in the region. Pragmatic U.S. and regional energy policies are helping to strengthen energy security across the Eastern Mediterranean and foster an environment that encourages investment in the Middle East and globally.”
The Leviathan expansion project is expected to come online towards the end of this decade.
The project includes drilling three additional offshore wells, adding additional subsea infrastructure, and enhancing the treatment facilities on the Leviathan production platform as we progress towards increasing total gas delivery to Israel and the region to approximately 21 billion cubic meters (BCM) annually from the Leviathan reservoir.
“This milestone demonstrates our ongoing commitment to partner with the State of Israel to develop natural gas resources and provide essential energy to millions of people in Israel, Egypt and Jordan,” said Jack Baker, managing director of Chevron’s Eastern Mediterranean region.
The Leviathan production platform is located approximately 10 kilometers offshore Dor, Israel.
Leviathan working interest owners include Chevron Mediterranean Limited as operator (39.66%), NewMed Energy (45.34%), and Ratio Energies (15%).
In addition to Leviathan, Chevron’s assets in the Eastern Mediterranean include the Tamar gas producing field (offshore Israel), and the Aphrodite gas field which is currently in development (offshore Cyprus). Chevron is also the operator of 2 Egyptian exploration blocks and is in a non-operated joint venture (NOJV) in one Egyptian exploration block (in the Mediterranean Sea).
Thursday, 22 January 2026
SOCAR Acquires 10% Stake in Baleine Oil and Gas Field Development Project
SOCAR has signed an agreement with Eni S.p.A. to acquire a 10% participating interest in the development project of the Baleine oil and gas field located offshore Côte d’Ivoire.
The Agreement was signed between SOCAR President Rovshan Najaf and Eni S.p.A. CEO Claudio Descalzi on the sidelines of the World Economic Forum Annual Meeting 2026.
This transaction represents SOCAR’s entry to Africa’s vast oil and gas resources and aligns strategically with SOCAR’s global expansion vision.
The transaction also forms part of a broader strategic collaboration between SOCAR and Eni S.p.A across various segments of the energy industry.
The implementation of this agreement and the closing of the transaction are subject to obtaining the necessary approvals from relevant regulatory authorities, as well as the fulfillment of other customary terms and conditions.
Baleine is considered one of the largest oil and gas discoveries made in West Africa in recent years. The giant offshore oil and gas field was discovered in 2021, with production commencing in 2023.
Baleine field currently produces over 62,000 barrels of oil and more than 75 million cubic feet (approximately 2.1 million cubic meters) of gas per day from Phases 1 and 2 of its development. With the launch of Phase 3, production is expected to rise to 150,000 barrels of oil and 200 million cubic feet (approximately 5.7 million cubic meters) of gas per day.
It is particularly noteworthy that Baleine is Africa’s first net-zero emissions offshore oil and gas project.
The Agreement was signed between SOCAR President Rovshan Najaf and Eni S.p.A. CEO Claudio Descalzi on the sidelines of the World Economic Forum Annual Meeting 2026.
This transaction represents SOCAR’s entry to Africa’s vast oil and gas resources and aligns strategically with SOCAR’s global expansion vision.
The transaction also forms part of a broader strategic collaboration between SOCAR and Eni S.p.A across various segments of the energy industry.
The implementation of this agreement and the closing of the transaction are subject to obtaining the necessary approvals from relevant regulatory authorities, as well as the fulfillment of other customary terms and conditions.
Baleine is considered one of the largest oil and gas discoveries made in West Africa in recent years. The giant offshore oil and gas field was discovered in 2021, with production commencing in 2023.
Baleine field currently produces over 62,000 barrels of oil and more than 75 million cubic feet (approximately 2.1 million cubic meters) of gas per day from Phases 1 and 2 of its development. With the launch of Phase 3, production is expected to rise to 150,000 barrels of oil and 200 million cubic feet (approximately 5.7 million cubic meters) of gas per day.
It is particularly noteworthy that Baleine is Africa’s first net-zero emissions offshore oil and gas project.
Subscribe to:
Posts (Atom)