Upstream news

Pegasus West in the UK Southern North Sea was discovered in 2014 and is currently operated by Spirit Energy.

Baker Hughes will supply Petrobras with up to five subsea production and injection manifold systems for the project.

Oil prices are closing the week trimming some gains, but the market trend is positive and the price direction is mostly risk reduction by traders, who are also profiting from earlier gains.

Exxon recorded 1Q21 earnings of US$2.7 billion, compared with a loss of US$610 million in 1Q20.

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.