Oil & gas news

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.

The subsidiary of Shell plc has completed the previously announced sale of its 100% interest in Shell Onshore Ventures LLC.

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.