London, December 30, 2024 (Oilandgaspress) –- Baker Hughes announced it won an order from Bechtel Energy Inc. (Bechtel) to supply gas technology equipment for two liquefaction plants with a total capacity of approximately 11 MTPA for Phase 1 of Woodside Energy Group Ltd’s (ASX: WDS; NYSE: WDS) (Woodside) Louisiana LNG development opportunity. The order marks a significant milestone as Woodside targets final investment decision (FID) readiness from the first quarter of 2025. The award, which includes eight main refrigeration compressors driven by LM6000PF+ gas turbines and eight expander-compressors, leverages Baker Hughes’ proven, best-in-class LNG technologies to support Bechtel and Woodside. Baker Hughes’ history of working with Bechtel and Woodside will support the delivery of Phase 1 of the project. Read More
Donald Trump’s friendly oil policies could boost U.S. crude production beyond the currently estimated growth. However, Trump’s vow to “drill, baby, drill” and the promised deregulation in the oil and gas industry with faster permitting could hit a wall of continuously growing global supply. This higher production from non-OPEC+ producers is set to tilt the market into a large surplus in 2025, even if OPEC+ keeps its current commitment to begin bringing back supply from April, analysts and forecasters say. Read More
Subsea 7 S.A. announced the award of a sizeable1 contract by Turkish Petroleum Offshore Technology Center AS (TP-OTC) to provide inspection, repair and maintenance (IRM) services for the Sakarya gas field development in the Black Sea.
The contract scope includes project management and engineering executed and managed from Subsea7 offices in Istanbul, Türkiye, and Aberdeen, Scotland, as well as the provision of equipment (including two work class remotely operated vehicles) and construction personnel onboard TP-OTC’s light construction vessel Mukavemet. Offshore operations will be executed in 2025 and 2026. Hani El Kurd, Senior Vice President of UK and Global Inspection, Repair, and Maintenance at Subsea7, said: “We are pleased to have been selected to deliver IRM services for TP-OTC in the Black Sea. This contract demonstrates our strategy to deliver engineering solutions across the full asset lifecycle in close collaboration with our clients. We look forward to continuing to work alongside TP-OTC to optimise gas production from the Sakarya field and strengthen our long-term presence in Türkiye.” Subsea7 defines a sizeable contract as being between $50 million and $150 million Read More
Vestas has sold a 277 MW wind portfolio in Italy. This transaction demonstrates Vestas Development’s ability to continue delivering viable, high-quality wind projects in Italy, one of its strategic markets in Europe. The projects included in this portfolio have been developed by Vestas and are designed for Vestas’ technology.
“This sale showcases Vestas’ ability to continue originating and developing a high-quality pipeline in Italy, which is key to accelerate the energy transition and bring local benefits to communities in the country”, says Senior Director Vestas Head of MED Development, Leopoldo Versace. The projects included in the portfolio and the customer are undisclosed. Vestas Development holds around 28 GW of wind capacity in its pipeline and Vestas has obtained 7 GW of firm projects from development activities. By developing new renewable energy assets, Vestas contributes to accelerate the clean energy transition while bringing significant benefits to local communities, through green job creation and economic development. Read More
Africa Oil Corp. announce that the Company repurchased a total of 416,700 Africa Oil common shares during the period of December 23, 2024 to December 27, 2024 under the previously announced share buyback program.
During this period, the Company repurchased 196,700 Africa Oil common shares on the TSX and/or alternative Canadian trading systems. The repurchases were carried out by Scotia Capital Inc. on behalf of the Company. During the same period, the Company repurchased 220,000 Africa Oil common shares on Nasdaq Stockholm, and these repurchases were carried out by Pareto Securities on behalf of the Company. . Read More
Vestas announces three new orders for a total of 276 MW
| Country | Region | Customer | Project name | MW | Turbine variant | Service agreement | Delivery & commissioning |
| USA | Americas | Clearway Energy Group | Undisclosed | 163 | 38 x V117-4.3 MW | 10-year AOM 5000 service agreement | Delivery planned in Q3 2026, commissioning scheduled in Q4 2026 |
| Denmark | EMEA | K/S Energipark Ulkær Mose, a subsidiary of Eurowind Energy A/S, and Green Wind Ulkaer Mose K/S. | Ulkær Mose | 50 | 11 x V136-4.5 MW | 20-year AOM5000 Service Agreement | Delivery planned in Q1 2026, commissioning scheduled in Q3 2026 |
| Guatemala | Americas | Undisclosed | Undisclosed | 63 | 14 x V150-4.5 MW | 5-year AOM 5000 Service Agreement | Commissioning planned for Q4 of 2026 |
Vestas announces three new orders for a total of 180 MW:
| Country | Region | Customer | Project name | MW | Turbine variant | Service agreement | Delivery & commissioning |
| South Africa | EMEA | Undisclosed | Undisclosed | 95 | 21 x V150-4.5 MW | 20-year AOM 5000 Service Agreement | Delivery expected by the first half of 2026, commissioning planned for the second half of 2026. |
| France | EMEA | Undisclosed | Undisclosed projects | 55 | 13 x V136-4.2 MW | Multi-year full scope service agreement | Delivery expected for Q2 of 2025, commissioning planned for Q4 of 2025 |
| France | EMEA | Undisclosed | Undisclosed projects | 31 | 5 x V126-3.45 MW in 3.6 MW power mode and 3 x V150-4.2 MW | 20-year AOM 5000 Service Agreement | Delivery expected for 2025, commissioning planned for first half of 2026 |
Crude oil prices started the last week of 2024 with a modest gain in anticipation of the last economic reports for the year from China and the United States, but prices quickly reverted back to where they had started.
| Oil and Gas Blends | Units | Oil Price | Change |
| Crude Oil (WTI) | USD/bbl | $70.75 | Up |
| Crude Oil (Brent) | USD/bbl | $74.29 | Up |
| Bonny Light 24/12/24 CBN | USD/bbl | $73.58 | — |
| Dubai | USD/bbl | $72.94 | — |
| Natural Gas | USD/MMBtu | $3.93 | Up |
| Murban Crude | USD/bbl | $75.92 | Down |
| OPEC basket 27/12/24 | USD/bbl | $73.91 | Up |
Baker Hughes Rig Count: U.S. unchanged at 589 Canada -71 to 95 U.S. Rig Count is unchanged from last week at 589 with oil rigs unchanged at 483, gas rigs unchanged at 102 and miscellaneous rigs unchanged at 4.
Canada Rig Count is down 71 from last week to 95, with oil rigs down 66 to 44, gas rigs down 5 to 51 and miscellaneous rigs unchanged at 0.
International Rig Count is down 31 rigs from last month to 919 with land rigs down 14 to 712, offshore rigs down 17 to 207. International Rig Count is down 59 rigs from last year’s count of 978, with land rigs down 46, offshore rigs down 13.
The U.S. Offshore Rig Count is unchanged at 14, down 5 year-over-year.
The Worldwide Rig Count for October was 1,754, up 4 from the 1,751 counted in September 2024, and down 22, from the 1,776 counted in October 2023.
| Region | Period | Rig Count | Change |
| U.S.A | 27 December 2024 | 589 | 0 |
| Canada | 27 December 2024 | 95 | -71 |
| International | November 2024 | 919 | -31 |
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OilandGasPress Energy Newsbites and Analysis Roundup | Compiled by: OGP Staff, Segun Cole @oilandgaspress.
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