Upstream news

Unless an effective COVID-19 vaccine is made available, the uncertainty in global energy demand will continue to weigh down oil prices, and delay shale industry recovery.

Offshore decommissioning work has inevitably nosedived during 2020, though there are encouraging signs of activity recovering into next year. Christian Berven, Aquaterra Energy, offers his take on where the market may be heading – and how a change of mindset among operators is influencing a new strategic approach.

The new large bore trailer configuration reduces the number of connections from four lines to one, allowing for simple maintenance and lowers the risk of flow cross failures.

The equipment will be located onboard a converted FPSO vessel that MODEC is constructing on behalf of Woodside Energy for the Sangomar oilfield offshore Senegal.

The drilling programme for well 2/9-6 S relates to the drilling of a wildcat well in production licence 617, about 31 km east of the Valhall field.

Oil prices got a new boost on Friday, as traders saw the OPEC+ compromise as a bullish development after the supply uncertainty that took the market by surprise since the start of the week.

Denmark has cancelled its latest licensing round and put an end date of 2050 on all oil and gas exploration and extraction in the North Sea.

Rystad Energy is forecasting peak oil demand to arrive earlier and at a lower level than previously thought, leading to reduced E&P investments.

The well was drilled about 100 km southwest of the Snøhvit field.

OGUK’s chief executive Deirdre Michie said the report by the Institute for Public Policy Research showed there is increasing involvement in ensuring a successful migration to greener energies.