Upstream news

Over US$83.1 billion in capital expenditure will be spent over the lifetime of the top 10 onshore oil projects to produce 9.7 billion bbls of crude oil, according to GlobalData, a leading data and analytics company.

Confidence within the oil and gas industries has surged after a difficult three years, according to a survey by DNV GL.

The no cost option agreement to farm into offshore Block 49/29c UK Licence P2264 contains the Acle prospect, which is jointly owned by Swift Exploration Limited and Stelinmatvic Industries Ltd.

Revenues from E&P operations combined with a further reduction in G&A costs, strict discipline on all spending and a rigorous management of receivables have helped the company to deliver another step towards overall profitability.

The company have announced their intention to initiate the permitting process for three new wells in the Permian Basin, accelerating their original plans to develop the areas assets.

Heerema Fabrication Group has been awarded an Engineering, Procurement, Construction and Installation contract for the Q10-A unmanned offshore platform.

Following an acquisition of 28.75% working interest in its operated natural gas prospective permit authority to prospect, Bengal Energy has now consolidated its ownership of ATP 394 to 100%.

Total has reinforced its position in deepwater Gulf of Mexico by signing an agreement with Samson in order to acquire Samson Offshore Anchor, LLC.

Operators have benefited from enhanced valve resilience in hostile P&A environments

"Santos is now a stronger, more resilient company with the capacity to execute and bring on-line growth opportunities across its core long-life natural gas assets." - CEO, Kevin Gallagher.