Oil & gas news

Economic impact analysis by Oxford Economics, published in Neptune’s Annual Report and Accounts, revealed the company’s overall European economic impact increased significantly in 2022.

The volumes are estimated at between 24 and 84 million boe, with slightly more oil than gas.

The well was drilled 10 km northwest of the Fram field and about 140 km northwest of Bergen.

The companies have achieved a major milestone in Brazil's offshore energy sector by completing the country's first-ever remote subsea inspection survey.

Official analysis has revealed that the accelerating decline of Scotland’s oil and gas production will increase Scotland’s emissions, threaten jobs and ultimately could make Scotland poorer.

In EIR’s report, relevant fundamental drivers of oil and gas are discussed, of which include resurgent Chinese oil demand, Permian supply concerns, inflationary impacts on oil field services and general global economic uncertainty.

The programme of work, expected to be executed from the Noble Innovator jack up vessel during Q2 2023, will see Well-Safe Solutions carry out well engineering support services using its bespoke Well Decommissioning Delivery Process (WDDP).

The offshore oil and gas sector is set for the highest growth in a decade in the next two years, with US$214 billion of new project investments lined up, according to Rystad Energy.

The company has announced the signing of a frame agreement with Equinor ASA to provide DualLink™ powered and wired drill pipe for their operations, ahead of installing and operating the system at their Oseberg field.

The current value of the order is more than £5 million. Approximately £2.5 million of milestone payments will be received and accounted for as deferred revenue in the current financial year.