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International oil giants team up with a $40 billion deal！
In recent years, the global oil industry has faced multiple challenges: the pressure of energy transition, geopolitical risks, capital discipline requirements, and oil price volatility. However, in early 2026, two major projects emerged simultaneou
With the lifting of restrictions on the "Pearl of Petroleum," opportunities for these technologies and equipment have arrived!
Venezuela has 90% of its proven oil reserves in the form of extra-heavy crude, which signifies major market opportunities for thermal recovery technologies and equipment, drilling and completion technologies and equipment suitable for heavy oil, as
Wood Awarded $65 Million Contract Extension on Australian Gas Project
Wood has secured a two-year contract extension with Woodside, valued at up to $65 million. The contract entails the continued provision of brownfield engineering, procurement, and construction management (EPCM) services for offshore assets at the N
Akrak Petroleum Company Plans to Start Production at Offshore Oilfield in Benin by the End of This MonthAkra Petroleum, a subsidiary of Singapore's Rex International Holding, announced plans to commence oil production from the Seme oilfield offshore Benin by the end of January 2026. The company had initially scheduled production to begin in the fourth
Bohai Oilfield Fracturing Record Broken AgainRecently, it has been reported from the Bohai Oilfield that Well A32 in the Bozhong 34-9 oilfield has implemented re-fracturing technology for existing wells for the first time, achieving significantly enhanced oil production.
This single-well, singl
CNOOC Participates in the Successful Launch of Brazil's Búzios VI Deepwater Oil Field ProjectOn January 3, the Búzios VI project in Brazil, in which China National Offshore Oil Corporation (CNOOC) holds an interest and participates as a partner, has successfully commenced production. Located in the Santos Basin off the southeastern coast of
The "Deep Sea One," China's largest offshore gas field, exceeded an annual oil and gas equivalent output of 4.5 million metric tons in 2025!On January 2, CNOOC announced that China's largest offshore gas field, "Deep Sea No.1," has completed its 100th shipment of crude oil since commencing operations, with its total oil and gas output exceeding 4.5 million metric tons of oil equivalent i
China's First Oilfield with Annual Carbon Injection of One Million Tons Emerges in Xinjiang！On December 29, China National Petroleum Corporation announced that as of December 28, the Xinjiang Oilfield had injected over one million tons of carbon dioxide this year, making it China's first oilfield to achieve an annual carbon injection volume
China's largest ultra-deep condensate gas field exceeds 10 billion cubic meters in annual gas output！China's largest ultra-deep condensate gas field—the Bozi-Dabei gas field operated by PetroChina's Tarim Oilfield—has exceeded an annual natural gas output of 10 billion cubic meters, while also producing 918,900 metric tons of condensate oil.
The Bo
Peak Daily Output Exceeds 2,300 Tons: Xijiang Oilfields Block 24 Development Project Comes On StreamOn December 22, the Eastern South China Sea Oilfield announced that the Xijiang Oilfields Block 24 development project has commenced production. The newly constructed Xijiang 24-7 platform is China's first offshore unmanned platform designed for the
China's Offshore Multi-layer Heavy Oil Thermal Recovery Field Hits New Daily Production Record！On December 15, the first round of heat injection was completed at the CEPA platform of Jinzhou 23-2 Oilfield, China's first offshore multi-layer heavy oil thermal recovery field. This marks that the progress of the first round of heat injection for
China Discovers Its Seventh 100-Million-Ton Oilfield in Bohai Sea！
On December 24, China National Offshore Oil Corporation (CNOOC) announced the discovery of a new 100-million-ton oilfield in the Neogene shallow layer of the Bohai Sea—the Qinhuangdao 29-6 oilfield. This marks the seventh 100-million-ton oilfield s
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