Upstream news

MacGregor, part of Cargotec, has secured a contract with Otto Candies to deliver an active heave compensated FibreTrac offshore crane.

1Q22 safety results show a stable trend in the number of serious incidents and with regards to personal injuries. No incidents with major accident potential have been recorded during the first quarter.

ExxonMobil is the first company to achieve certification for natural gas production associated with oil. The certification from MiQ helps the company meet customer demand for energy produced with fewer emissions.

The three new discoveries offshore Guyana have increased its estimate of the recoverable resource for the Stabroek Block to nearly 11 billion boe.

The Ministry of Petroleum and Energy (MPE) has extended the production licenses in the Greater Ekofisk Area from 2028 to 2048.

The amount received at the closing adds to the amount of US$56 700 paid to Petrobras when the sale contracts were signed, totalling an amount of US$63 000.

Global oil demand is expected to reduce as a result of slowing economic activity and GDP growth cuts.

CNOOC announced that Luda 5-2 oilfield north phase I project and Kenli 6-1 oilfield 4-1 block development project have commenced production.

The project will boost production at the existing Maria field in the Norwegian Continental Shelf. The contract includes subsea trees, spools, jumpers, and flexible pipes.

The transaction will contribute to the optimisation of Maersk's fleet in line with the company's strategic priorities.