oil-gas
27 June 2025
Offshore Technologyoil-gas
Jun 27, 2025Offshore Technology
Indonesian oil and gas operator Medco Energi Internasional has reached an agreement with Spanish energy company Repsol E&P to acquire a 24% stake in the Corridor Production Sharing Contract (Corridor PSC), indirectly held by Fortuna International, for $425m (Rp6.88trn).
The transaction is expected to enhance Medco Energi’s portfolio, with completion anticipated in the third quarter of 2025 (Q3 2025).
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The Corridor PSC, situated onshore in South Sumatra, Indonesia, comprises seven producing gas fields and one oilfield.
The gas from these fields is sold under long-term contracts to buyers in Indonesia and Singapore, ensuring a stable revenue stream.
MedcoEnergi president director Hilmi Panigoro said: “This acquisition supports our strategy of owning and developing high-quality, cash-generative assets and reaffirms our commitment to national development where natural gas is a vital bridge to a lower-carbon future.”
Medco Energi reported EBITDA (earnings before interest, taxes, depreciation and amortisation) of $332m in Q1 2025, surpassing its figures from Q4 2024.
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This financial uptick is attributed to effective cost management strategies, although it has been partially offset by seasonal variations leading to reduced gas demand.
Repsol, with a presence in more than 20 countries, is focusing on its upstream business to prioritise more lucrative assets.
This divestment aligns with its strategy to concentrate on assets with higher profitability and cash generation capabilities.
The sale is expected to positively influence Repsol’s financials, with an estimated $70m boost to its annual income, reported Reuters.
Moreover, the transaction will contribute to a reduction in Repsol’s net debt of approximately $350m, underscoring the deal’s strategic financial benefits.
In December last year, GeoPark signed binding sales and purchase agreements to acquire Repsol’s upstream oil and gas assets in Colombia.
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275-Mile Texas-To-Oklahoma Gas Pipeline Enters Open Season(P&GJ) — Producers Midstream II, LLC has launched a binding open season to gauge shipper demand for firm transportation on its proposed Palo Duro (PD) Pipeline, a 275-mile (about 443-km) natural-gas line that will link residue markets at Waha in the Permian Basin with Mid-Continent outlets in the Anadarko Basin.
The project will repurpose existing 16-inch pipe running from Nolan County, Texas, to Wheeler County, Texas, and lease capacity on the company’s gathering header into western Oklahoma. Because no new pipe construction is planned, the company will seek interstate authority from the Federal Energy Regulatory Commission under Section 7(c) of the Natural Gas Act, aiming for a first-quarter 2026 in-service date.
“This Open Season marks a key milestone for the Palo Duro Pipeline and underscores our commitment to delivering scalable, market-responsive infrastructure,” said Matt Flory, Producers Midstream’s chief executive officer. “The pipeline's unique interconnectivity and strategic positioning creates a much-needed additional outlet for constrained Permian gas, while also supporting the rapid growth of AI-driven power solutions and other emerging sources of demand.”
The north–south line will interconnect with up to seven interstate systems—Northern Natural Gas, Transwestern, NGPL, ANR, Panhandle Eastern, Enable Gas Transmission and Southern Star—giving shippers multiple downstream options. Producers Midstream said the route is designed to ease Permian takeaway bottlenecks while meeting rising industrial, petrochemical, power-generation and behind-the-meter loads.
The open season runs June 30–July 14. Full bidding procedures and technical details are available at Producers Midstream’s website. Interested parties can contact the company’s marketing team at marketing@producersmidstream.com or 214-238-5740.
Mary Holcomb is the Digital Editor & Operations Manager at Gulf Energy Information, overseeing the Pipeline & Gas Journal, World Oil, and Underground Infrastructure brands. With over 5 years of experience, she drives digital content strategy and operations for these industry-leading publications.
Pipeline Gas Journal
oil-gas
30 June 20252 min read275-Mile Texas-To-Oklahoma Gas Pipeline Enters Open Season
Pipeline Gas Journal
30 June 2025
oil-gas
Medco Energi Acquires Stake In Repsol’S Indonesian Gas Operation For $425MIndonesian oil and gas operator Medco Energi Internasional has reached an agreement with Spanish energy company Repsol E&P to acquire a 24% stake in the Corridor Production Sharing Contract (Corridor PSC), indirectly held by Fortuna International, for $425m (Rp6.88trn).
The transaction is expected to enhance Medco Energi’s portfolio, with completion anticipated in the third quarter of 2025 (Q3 2025).
The gold standard of business intelligence.
Find out more
The Corridor PSC, situated onshore in South Sumatra, Indonesia, comprises seven producing gas fields and one oilfield.
The gas from these fields is sold under long-term contracts to buyers in Indonesia and Singapore, ensuring a stable revenue stream.
MedcoEnergi president director Hilmi Panigoro said: “This acquisition supports our strategy of owning and developing high-quality, cash-generative assets and reaffirms our commitment to national development where natural gas is a vital bridge to a lower-carbon future.”
Medco Energi reported EBITDA (earnings before interest, taxes, depreciation and amortisation) of $332m in Q1 2025, surpassing its figures from Q4 2024.
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
This financial uptick is attributed to effective cost management strategies, although it has been partially offset by seasonal variations leading to reduced gas demand.
Repsol, with a presence in more than 20 countries, is focusing on its upstream business to prioritise more lucrative assets.
This divestment aligns with its strategy to concentrate on assets with higher profitability and cash generation capabilities.
The sale is expected to positively influence Repsol’s financials, with an estimated $70m boost to its annual income, reported Reuters.
Moreover, the transaction will contribute to a reduction in Repsol’s net debt of approximately $350m, underscoring the deal’s strategic financial benefits.
In December last year, GeoPark signed binding sales and purchase agreements to acquire Repsol’s upstream oil and gas assets in Colombia.
Offshore Technology
oil-gas
27 June 20252 min readMedco Energi Acquires Stake In Repsol’S Indonesian Gas Operation For $425M
Offshore Technology
27 June 2025
oil-gas
Abbott Unveils $105 Million Loan For New 122-Mw Gas Plant In Texas(Reuters) — Texas Governor Greg Abbott announced on June 26 that the first Texas Energy Fund (TEF) loan agreement will be used to fund a 122 megawatt (MW) natural gas power plant in Texas.
"Under the loan agreement, subject to customary financial closing procedures, total project costs are not to exceed $175 million, with the PUC providing a 20-year TEF loan of up to $105 million at a 3% interest rate," said a press release on Abbott's official website.
The governor's office added that the Kerrville Public Utility Board is the project's sponsor and will develop the facility, which is projected to begin operations by 2027.
The facility will interconnect to the South Load Zone adjacent to Houston Load Zone, one of the largest electricity demand centers in the state.
Pipeline Gas Journal
oil-gas
27 June 20251 min readAbbott Unveils $105 Million Loan For New 122-Mw Gas Plant In Texas
Pipeline Gas Journal
27 June 2025
oil-gas
Boem Proposes Oil, Gas Lease Sale For 80 Million Acres In Gulf(WO) — The Bureau of Ocean Energy Management (BOEM) has published a Proposed Notice of Sale (PNOS) for Lease Sale 262, the first of three offshore auctions in the Gulf of America under the 2024–29 Outer Continental Shelf Leasing Program.
The sale would offer about 15,000 unleased blocks—roughly 80 million acres—located 3 to 231 miles offshore in water depths from 9 ft to more than 11,100 ft.
“Offshore oil and gas play a vital role in our nation's energy portfolio, with the Gulf of America supplying 14 percent of domestically produced oil,” said Matt Giacona, BOEM’s principal deputy director. “This proposed lease sale demonstrates BOEM’s commitment to advancing American Energy Dominance and fostering the production of affordable, reliable energy resources for the nation.”
BOEM estimates the broader Gulf outer continental shelf holds about 48 billion barrels of undiscovered oil and 141 Tcf of natural gas. Leases awarded through Sale 262 would be limited to exploration and development; areas withdrawn by a 2020 presidential order, portions near the Eastern Gap and the Flower Garden Banks National Marine Sanctuary remain off-limits.
To encourage industry interest, the agency is proposing a 16 ⅔ percent royalty rate for both shallow- and deepwater tracts, the lowest deepwater rate since 2007. “To support robust industry participation, lower production costs, and unleash the full potential of the Gulf of America’s offshore energy reserves, BOEM is proposing a royalty rate of 16 ⅔ percent for both shallow and deepwater leases—the lowest rate for deepwater since 2007,” said Laura Robbins, acting regional director for the Gulf.
The PNOS appears in the Federal Register on June 27, opening a 60-day comment period for Gulf-state governors and local governments. BOEM expects to issue a Final Notice of Sale at least 30 days before the scheduled bid reading, now targeted for Dec. 10, 2025, which will be livestreamed.
World Oil
oil-gas
26 June 20252 min readBoem Proposes Oil, Gas Lease Sale For 80 Million Acres In Gulf
World Oil
26 June 2025
oil-gas
Equinor, Partners Greenlight $2 Billion Investment In North Sea Oil And Gas ProjectEquinor and its Fram partners will invest more than $2 billion (NOK 21 billion) in a new subsea development. The plan for development and operation was today submitted to the Minister of Energy, Terje Aasland.
"Fram Sør will contribute to security of energy supply from the Norwegian continental shelf (NCS) to Europe," said Geir Tungesvik, Equinor's executive vice president, Projects, Drilling & Procurement. "The development will put new oil and gas resources on stream by connecting new infrastructure to existing facilities that provide good and robust profitability. With the host platform Troll C being powered from shore, the production from Fram Sør will have very low emissions. The project will generate activity for the Norwegian supply industry, with an estimated employment effect of 4,500 full-time equivalents (FTEs) during the development period,"
The Fram Sør project is a combined development of several discoveries that will export oil and gas via Troll C. Recoverable volumes are estimated at 116 MMboe, 75% of which is oil and 25% is gas. Production is scheduled to start at the end of 2029.
Equinor holds 45% interest in Fram, along with partners Vår Energi ASA (40% interest) and INPEX Idemitsu Norge AS (15% interest).
"We have done a thorough job maturing the new resources discovered in the Fram and Troll area in recent years," said Kjetil Hove, Equinor's executive vice president for Exploration & Production Norway. "Fram Sør shows the importance of area solutions and close collaboration between partners and authorities in order to realize the resource values on a mature NCS. We have a large portfolio of projects that will phase in discoveries to our producing fields. Equinor expects to put more than 50 such projects on stream by 2035."
In the autumn of 2019, Equinor and partners made a discovery of oil and gas in the Fram area of the North Sea. This discovery, called Echino South, supported the belief that more oil could be found, and contributed to nine discoveries made in the Troll-Fram area over a four-year period. In the spring of 2021, Equinor and partners made the Blasto discovery. Together with two smaller discoveries in previous years, Echino South and Blasto form the basis for Fram Sør.
The field development is also technologically groundbreaking, Equinor stated. As the first on the NCS, Fram Sør will use all-electric Christmas trees that eliminate the need for hydraulic fluid supplied from the platform and improve monitoring capabilities of the subsea equipment. It is an efficient and reliable system for operating subsea Christmas trees, as well as reducing the risk of environmental impact.
World Oil
oil-gas
26 June 20253 min readEquinor, Partners Greenlight $2 Billion Investment In North Sea Oil And Gas Project
World Oil
26 June 2025
oil-gas
Intensity, Rainbow Energy To Build 344-Mile Gas Pipeline Across North Dakota(P&GJ) — Intensity Infrastructure Partners and Rainbow Energy Center have announced a joint venture to build a new natural gas pipeline spanning from the Bakken region in western North Dakota to the eastern part of the state, a move aimed at boosting in-state resource use and reducing flaring.
The planned pipeline will increase takeaway capacity for associated natural gas in the Williston Basin, enabling greater in-state processing and delivery while supporting oil production growth and boosting state tax revenues.
RELATED: North Dakota’s Bakken Basin Set for Midstream Comeback, Experts Say
“This project represents a long-term investment in North Dakota’s energy future,” said Stacy Tschider, CEO of Rainbow Energy Center. “A pipeline of this size directly supports the state’s goals to grow all energy production responsibly while capturing greater economic value for our citizens.”
The 344-mile project will be constructed in two phases:
The target in-service date is July 2029, with potential acceleration based on market interest and permitting.
“We’re excited to work with Rainbow to enhance the state’s ability to monetize its natural gas resources locally,” said Joseph Griffin, CEO of Intensity. “The state has been seeking a project of this size with a customer like Rainbow for nearly a decade.”
Continental Resources Vice Chairman Jeff Hume added, “This marks a major milestone in strengthening North Dakota’s energy infrastructure.”
The pipeline will also reserve capacity for future, unannounced projects along its route, allowing for expansion as demand grows.
Pipeline Gas Journal
oil-gas
26 June 20252 min readIntensity, Rainbow Energy To Build 344-Mile Gas Pipeline Across North Dakota
Pipeline Gas Journal
26 June 2025
oil-gas
Boem Looks To Open 80 Million Acres For Oil And Gas Lease SaleThe Bureau of Ocean Energy Management announced the publication of a Proposed Notice of Sale (PNOS) for an oil and gas lease sale in the Gulf of America.
As directed by Secretary of the Interior and outlined in the PNOS,Lease Sale 262 will offer approximately 15,000 unleased blocks located 3 to 231 miles offshore across the Gulf’s Western, Central, and Eastern Planning Areas.Covering roughly 80 million acres, these blocks are situated in water depths ranging from 9 feet to more than 11,100 feet (3 to 3,400 meters).
This sale is the first of three planned lease sales in the Gulf of America under the 2024–2029 Outer Continental Shelf Oil and Gas Leasing Program. BOEM is also in the process of developing a new National Outer Continental Shelf Oil and Gas Leasing Program that will include additional leasing opportunities.
"Offshore oil and gas play a vital role in our nation's energy portfolio, with the Gulf of America supplying 14% of domestically produced oil," saidBOEM’s Principal Deputy Director Matt Giacona. "This proposed lease sale demonstrates BOEM’s commitment to advancing American Energy Dominance and fostering the production of affordable, reliable energy resources for the nation.”
The Gulf of America Outer Continental Shelf spans approximately 160 million acres and is estimated to contain around 48 billion barrels of undiscovered, recoverable oil and 141 trillion cubic feet of natural gas.
Leases awarded through Lease Sale 262 will be for oil and gas exploration and development only. Certain areas may be excluded from this lease sale, including blocks subject to the Sept. 8, 2020, presidential withdrawal, blocks adjacent to or beyond the U.S. Exclusive Economic Zone in the northern portion of the Eastern Gap, and blocks within the current boundaries of the Flower Garden Banks National Marine Sanctuary.
"To support robust industry participation, lower production costs, and unleash the full potential of the Gulf of America’s offshore energy reserves, BOEM is proposing a royalty rate of 16 ⅔ percent for both shallow and deepwater leases—the lowest rate for deepwater since 2007,” saidBOEM’s Acting Regional Director for the GOA Laura Robbins.
The Notice of Availability for the PNOS will be available for public inspection in the Federal Register on June 26, 2025, and will officially be published on June 27, 2025.
The publication of the PNOS will initiate a 60-day comment period for the affected state governors and local governments. Following the comment period, BOEM will issue a Final Notice of Sale in the Federal Register at least 30 days before the scheduled public bid reading, which will be live streamed via Zoom. The lease sale bid reading is proposed for December 10, 2025.
More information, including the PNOS package and a detailed map of the proposed lease sale area, is available here.
Offshore Engineer
oil-gas
25 June 20253 min readBoem Looks To Open 80 Million Acres For Oil And Gas Lease Sale
Offshore Engineer
25 June 2025
oil-gas
Egypt Offers 26,500 Sq Km For Gas ExplorationEgypt is offering 12 gas exploration sites to potential investors as it aims to increase its reserves and ease reliance on imports.
The sites, announced on the Oil Ministry’s bidding portal, have a total area of 26,500 square kilometres. Five of the 12 are offshore blocks in the Mediterranean with a combined area of about 13,000 square kilometres.
The other seven are onshore blocks mostly in the north and northeast of Egypt, with a combined area of 13,500 square kilometres,
All 12 blocks are open for investment by foreign companies as part of the latest concession licensing round, the ministry said.
The gas exploration blocks are offered by the state-owned Egyptian Natural Gas Holding Company.
Egypt has launched a hydrocarbon investment programme to increase its oil and gas deposits and reverse a decline following excessive production.
The Kuwait-based Organisation of Arab Petroleum Exporting Countries said in a recent report that Egypt’s gas production had steadily declined over the past few years to reach around 57 billion cubic metres in 2023. It was 64 billion in 2022 and a peak of 67 billion in 2021.
The decline is expected to have continued in 2024, the organisation said.
Egypt’s gas shortages are likely to worsen as Israel halts supplies during its conflict with Iran, according to the National Bank of Kuwait. The bank said last week that Egyptians could face lengthy blackouts this summer.
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Arabian Gulf Business Insight
oil-gas
24 June 20252 min readEgypt Offers 26,500 Sq Km For Gas Exploration
Arabian Gulf Business Insight
24 June 2025
oil-gas
Usgs: 29 Billion Barrels Of Oil, 392 Tcf Gas Lurk Under U.S. Public Lands(P&GJ) — A new report from the U.S. Geological Survey (USGS) estimates that federally managed onshore public lands in the United States contain 29.4 billion barrels of undiscovered oil and 391.6 trillion cubic feet (Tcf) of natural gas that are technically recoverable.
If developed, those volumes would be enough to supply U.S. oil demand for about four years and natural gas needs for nearly 12 years, according to current consumption rates.
The assessment covers public lands managed by the Departments of Agriculture, Defense, Energy, and Interior, as well as the Tennessee Valley Authority. It reflects a dramatic increase from the USGS’s last estimate in 1998, which put the figures at 7.86 billion barrels of oil and 201.1 Tcf of gas.
The difference isn’t due to changes underground, but rather to advances in energy extraction technology and a broader inclusion of unconventional resources such as shale oil, tight oil and gas, and coalbed methane—resources typically produced through hydraulic fracturing.
“The USGS assesses the potential for energy resources where science tells us there may be a resource that hasn’t been discovered yet,” said Sarah Ryker, acting director of the USGS. “In this report, we leveraged our extensive existing data to estimate oil and gas resources on federally managed public lands. We expect these estimates to be useful for state and national land management, energy futures analysis, and economic development planning.”
The agency based the estimates on 579 previously published assessment units across 69 geologic provinces. Resource estimates were then allocated to public lands proportionally based on how much public acreage fell within each assessment unit.
Pipeline Gas Journal
oil-gas
23 June 20252 min readUsgs: 29 Billion Barrels Of Oil, 392 Tcf Gas Lurk Under U.S. Public Lands
Pipeline Gas Journal
23 June 2025
oil-gas
Centuri Secures Major Midwest Gas Utility Contract In $575 Million Deal(P&GJ) — Centuri Holdings has secured more than $575 million in infrastructure contract awards across the United States, with a significant portion tied to natural gas utility work in the Midwest.
The company’s recent wins include a multi-year contract renewal with a long-standing natural gas utility customer for gas distribution, transmission, and storage services. Additional awards cover the construction and rebuild of transmission lines, including a 115-kV line in the East and a 345-kV, 28-mile line in the West.
The new projects build on $350 million in awards previously announced in May 2025.
“Securing this key contract renewal along with meaningful new project awards is a testament to the reputation our teams have built for quality, safety, and skilled craftsmanship,” said Centuri President and CEO Christian Brown. “It not only reaffirms the trust our partners place in us but illustrates the fruitful results of our focus on business development and high-quality service delivery.”
Centuri provides utility infrastructure services for electric and gas operations across North America.
Pipeline Gas Journal
oil-gas
23 June 20251 min readCenturi Secures Major Midwest Gas Utility Contract In $575 Million Deal
Pipeline Gas Journal
23 June 2025
oil-gas
Underground Refinery Busted In Mexico With Half A Million Liters Of Crude(Reuters) — Mexican authorities this week discovered a clandestine mini-refinery in the eastern state of Veracruz, along with half a million barrels of crude oil they suspect were stolen from the country's pipelines.
The government has sought to clamp down on theft of crude oil and refined products as well as illegal imports, known as huachicol, a practice that generates substantial losses for state energy company Pemex and the government.
Authorities have previously linked organized crime and Pemex employees to the illegal trade.
Reuters was unable to contact the owners of the clandestine refinery.
Security Minister Omar Garcia Harfuch said on Wednesday on X that during intelligence actions and overflights, "a clandestine operation was identified."
It produced artisan or alternative diesel, light naphtha or solvents, and treated oils or light fuel oil, he said, all without the proper permits in operations that posed a risk to local ecosystems.
Authorities discovered 500,000 liters of crude oil as well as production infrastructure that fed the country's illicit fuel market.
A Pemex source said that although the discovery was not significant in terms of the volume, it highlighted the impunity with which criminals operate freely in the country, as well as the extensive network of complicity between various sectors.
Separately, authorities also discovered 1.2 million liters of hydrocarbons, fuel trucks and containers in the northern state of Nuevo Leon.
In late May, authorities also recovered more than 3 million liters of hydrocarbon products in the southeast of the country.
Pipeline Gas Journal
oil-gas
20 June 20252 min readUnderground Refinery Busted In Mexico With Half A Million Liters Of Crude
Pipeline Gas Journal
20 June 2025
oil-gas
Vtb To Allocate > $10 B For Ust-Luga Gas Processing Complex ProjectVTB will allocate 800 billion rubles (> $10 B) over several years to finance the project to build a complex for processing ethane-containing gas in Ust-Luga in the Leningrad region, the bank's head Andrei Kostin told journalists.
VTB's first deputy chairman, Dmitry Pyanov, told Interfax that the plan was to disburse the first 300 billion rubles this year and another 500 billion rubles next year.
"There are market conditions. It will not bring losses," Kostin said.
VTB plans to obtain a subordinated deposit of 200 billion rubles from the National Wealth Fund for the project.
The construction operator for the Ust-Luga facility is RusChemAlliance, a company equally owned by PJSC Gazprom and JSC RGD. The complex will become Russia's largest gas processing plant and the world's second largest facility by capacity. Its annual processing capacity will reach approximately 45 billion cubic meters of gas. The total investment project cost, including VAT and operational cash flow during the investment phase, is nearly 5 trillion rubles at nominal prices.
Gas Processing and LNG
oil-gas
20 June 20251 min readVtb To Allocate > $10 B For Ust-Luga Gas Processing Complex Project
Gas Processing and LNG
20 June 2025
oil-gas