ADNOC is expanding the Upper Zakum oil field using AI and clean energy to boost production while reducing emissions intensity, reflecting a broader industry shift toward greener fossil fuel extraction. The project aims to add over 500,000 barrels per day through AI-driven operations and grid power, balancing growth with sustainability goals.
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ConocoPhillips Australia and Korea National Oil Corporation are partnering to explore gas reserves in the Otway Basin, aiming to address looming supply shortages on Australia’s East Coast. The joint venture, approved for up to six exploration wells, faces urgency as Victoria’s gas supply gaps are projected to reach critical levels by 20282029.
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ADES Holding Company secured a four-year extension for its Sapphire Driller jack-up rig with Qatar’s North Oil Company, worth an estimated $217.6 million, reflecting tightening demand for premium rigs in the Gulf. The deal highlights ADES’s strategic expansion in the Middle East, including recent rig acquisitions and planned entry into Nigeria.
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Discover how Transocean’s groundbreaking Neptun Deep project is set to transform Southeastern Europe’s energy future, tapping into the Black Sea’s vast gas reserves with cutting-edge tech and a bold vision for cleaner energy—click to dive into the details!
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Guyana is tightening oversight of its booming oil industry with new legislation that could reshape accountability for environmental disasters, including holding companies financially liable for spills and mandating stricter safety protocols. The move comes as the country, now Latin Americas fifth-largest oil exporter, balances rapid production growth with aggressive environmental safeguards.
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