Oil & gas news

A report published by industry body OGUK has outlined how the target will be achieved through changes to operations, progressive reductions in flaring and venting, and major capital investment programmes aimed at using electricity rather than gas, to power offshore facilities.

Oil prices are enjoying some stability now, after pricing in fears of a new pandemic wave and the OPEC+ cuts agreement.

The backlog, which will likely increase in June, is equivalent to about two years of fraccing at the current pace, according to Rystad.

The company has said that is expecting the potential award of a marginal field to happen within 6 months of submitting a bid.

The West Newton project in East Yorkshire, UK, has been given an AA rating for carbon intensity for its potential upstream crude oil production.

The two-year agreement will be focussed in Azerbaijan, and is an exclusive agreement between the two companies.

Strike Energy and Warrego Energy, the operators of the West Erregulla gas field in Western Australia, have entered a long-term contract with Ensign Energy Services for the provision of drilling services with the Ensign 970 drilling rig.

The Kharasaveyskoye field, in the Yamal peninsula, has estimated gas reserves of approximately 2 trillion m3.

The cut and recover operation was carried out for Wintershall Dea Norge.

Oil prices fell this morning, as traders priced in fears of a second round of Covid-19-related demand decline.