Top Rigzone Articles Roundup
Here’s a roundup of Rigzone’s top five most popular articles during the last week, just in case you missed them…
Bloomberg outlined that Chevron Corp. posted its biggest loss in a decade. Chevron reported a loss of $6.6 billion in the fourth quarter of last year. The company still posted annual earnings of $2.9 billion in 2019, however, and revealed that cash flow from operations stood at $27.3 billion last year.
Oil majors have boosted demand for floating drilling units as deepwater drilling takes off, according to Rystad Energy. The independent energy research and business intelligence company revealed that demand from the world’s top oil companies for these units has climbed steadily in the past two years and noted that it’s set to rise further through 2020 and 2021 as majors “step up” development and exploration activity in deepwater basins.
The United Arab Emirates announced the discovery of 80 trillion cubic feet of shallow gas resources in place in the area between Saih Al Sidirah and Jebel Ali in the Emirates of Abu Dhabi and Dubai, respectively. Wood Mackenzie said the find ranks as the largest global gas discovery since Galkynysh (South Iolotan), which was discovered in 2005.
Bloomberg reported that Exxon Mobil Corp. and Chevron Corp. are discovering that the Permian Basin is “a double-edged sword”. Bloomberg highlighted that surging shale supplies in the region are driving down global energy prices.
KBR won a major project management consultancy services contract from Abu Dhabi National Oil Co. (ADNOC) for its Ghasha Concession portfolio of projects. According to KBR, its work under the PMC contract will likely be performed over four years and could be extended an additional two years. The Ghasha mega-project will likely produce more than 120,000 barrels per day of oil and condensates when it goes onstream, KBR revealed.
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