Upstream news

Worley will provide early phase engineering services to Chevron’s global upstream projects, both onshore and offshore, over a five-year period.

The acquisition, expected to close in 2Q21, deepens Baker Hughes’ industrial asset performance management capabilities.

TechnipFMC has been awarded a contract for a subsea tieback located offshore Egypt on the North El Amriya and North Idku concession.

Of the remaining resources on the Norwegian Continental Shelf, 4.2 billion sm3 o.e, or 52%, are proven. Unproven resources are estimated at 3.8 billion sm3 o.e.

The Egypt Upstream Gateway provides digital access to over 100 years' worth of accumulated national onshore and offshore seismic, non-seismic, well-log, production, and additional subsurface data under a single platform.

The transaction includes the transfer of approximately 450 000 net acres in the Fox Creek (Kaybob) and Rocky Mountain House (Willesden Green) areas, along with related infrastructure, currently producing around 30 000 boe/d from more than 270 wells.

Under the initiative, API member companies will commit to applying safety standards, implementing workforce training programmes and participating in performance-improving efforts.

Oil prices have jumped as the extreme cold weather the US is experiencing is impacting oil production, but refinery outages are limiting the price ascent.

THREE60 Energy has appointed Garrie Scott as Projects Director.

The Tupi and Iracema surveys for Petrobras will start in 3Q21 and are expected to last approximately nine months.