Upstream news

The introduction of a royalty imposed on investors may be counter-productive for the government in the longer term, according to GlobalData.

John Lechner has resigned from his position as CEO of Archer Ltd. with immediate effect.

The rig is designed for harsh environment use, and will be equipped and certified for drilling on the Norwegian Continental Shelf.

Island Drilling has received a contract from CNOOC for the drilling of two wells on the British side West of Shetland.

Integrity Management Solutions has commenced drilling operations at the Burnett 2B well within the Monroe Swell field, onshore California.

The company has contracted Gardline Limited to conduct a site survey for its 2019 and 2020 drilling programme plus the pipeline route for its Liberator Phase I development.

In reaction to Oil & Gas UK’s 2019 Business Outlook report – which spells positive news for UK O&G but notes that investment is needed to push the industry forward – Simon Tucker, Head of Energy and Commodities at Infosys Consulting, comments.

Canadian Oil Sands production in 2019 will be almost 230 000 bpd lower than last year, according to ESAI Energy’s recently published North America Watch.

Adam Johnson, director of Leeds-based Tudor International Freight, said the structure was undoubtedly well-intentioned and would cause some UK oil and gas businesses to breathe sighs of relief.

Wood Mackenzie research analyst, Alex Siow, comments on the deal.