The latest analysis from McKinsey & Company reveals that oil and gas industry costs could increase between 6 – 10% in 2023 due to labour uncertainties and raw-materials inflation.
Shell Salym Development B.V. – a subsidiary of Shell plc – has completed the withdrawal from its 50% interest in the Salym project in Russia.
The Alkaid #2 well returned to production on 21 February, following the cleanout of the sand blockage in the final 1000 ft (c.20%) of the wellbore.
The use of hybrid power solutions is an essential element of the company’s decarbonisation strategy, as it contributes to ADNOC’s commitment to reduce greenhouse gas intensity by 25% by 2030.
The company has signed an agreement to acquire Suncor Energy UK Limited for a total consideration of US$850 million.
The well was drilled about 13 km northeast of the Goliat field in the southern part of the Barents Sea and 90 km northwest of Hammerfest.
Since 2003, OHH has given US$5.9 million to more than 1000 industry workers and their families.
The new venture provides critical emissions management software-as-a-service (SaaS) solutions to track greenhouse gas emissions in the oil and gas industry and beyond.
The company is expanding its service roster in the North Sea as it looks to replicate its drilling services success in the Middle East and Asia.
The company has been participating in the underlying technology development related to the development of shallow methane hydrate harvesting technology conducted by the National Institute of Advanced Industrial Science and Technology.
The company was awarded US$50 000 at the Daniel Energy Partners BBQ Cook-Off in September after being named Grand Champion of the event. The prize money was to be contributed to a charity of the winner’s choice.
The latest analysis from McKinsey and Company (McKinsey) reveals that a fresh wave of M&A is expected in the North American upstream market, fuelled by high operating free cash flows.
CEO Mario Mehren described 2022 as an extremely challenging year which brought significant change for the company.
The company has acquired a portion of Chesapeake Energy’s oil and gas assets in the Eagle Ford shale, south Texas for US$1.4 billion.
The new state-of-the-art facility consolidates office space with warehouse in one location.