Upstream news

The company reported adjusted earnings of US$1.7 billion (US$0.90 per share - diluted) in 1Q21 compared to adjusted earnings of US$2.5 billion (US$1.31 per share - diluted) in 1Q20.

A paper published by LYTT advocates new, acoustic data-based methodologies to improve the diagnosis of well integrity issues and inform successful remediation and plug and abandonment strategies.

Liam Yates (senior analyst, Middle East upstream, Wood Mackenzie) and Kristina Beadle (analyst, carbon research, Wood Mackenzie) assess the role national oil companies can play in decarbonisation.

The first ever pressure-containing component to be produced using Wire Arc Additive Manufacturing technology (WAAM) was successfully ran on Total’s Elgin-Franklin rig in the North Sea.

The company will acquire interests in four licences, two of which will be operated by the company, for a total initial headline cash consideration of US$9 million.

Shearwater will take take over marine seismic acquisition assets previously owned by Polarcus, from Tiger Moth AS.

Oil prices are rising today as a result of optimism for a coming demand uptick in key economies such as the US, China and the UK, and also assisted by a weak dollar; back to back gains pose a risk amid the worsening Covid-19 situation in India however.

ABB is to deliver automation solutions for the Krafla oil and gas field development.

The scope of work includes the supply and installation of three drilling jackets and two new single well observation jackets/decks.

The contract, signed with Empyrean Energy, will see AGR provide offset analysis and detailed well design engineering to ensure safe project delivery.