Upstream news

Chariot Oil & Gas Ltd has signed an agreement with Subsea 7 and OneSubsea to work together to enable the front-end design, engineering, procurement, construction, installation and operation of the Anchois gas development project.

The survey will take place at the Ivar Aasen field in the Norwegian North Sea.

Worley will provide FEED services to 1PointFive Inc. for a direct air capture unit to be constructed in the US Permian Basin.

Gjøa P1 is a two well development in the Norwegian sector of the North Sea with one oil and one gas producer.

The company has said that the current timeframe of seismic projects is costing businesses money and posing health and safety risks for crews on the ground.

Express Engineering has been recognised for doubling its exports to £21 million over the latest two years of available accounts.

The US will account for 70% of the total projects expected to start operations by 2025, according to GlobalData.

Rystad Energy’s Head of Oil Markets, Bjornar Tonhaugen, and its Head of Shale Research, Artem Abramov, have commented on today's oil prices and on US oil production respectively.

The agreement will increase Neptune’s existing interests in the Adorf, Apeldorn and Ringe gas fields and in the Adorf-Scheerhorn, Georgsdorf and Ringe oilfields.

While precise crude oil production figures are not available, 20% of lower 48 US natural gas production has been shut-in in the first half of February. An equivalent 20% cut in lower 48 US crude oil production would imply a production drop of around 2 – 2.2 million bpd of output, but this could prove to be even higher – perhaps as high as 4 million bpd.