Upstream news

Orcadian Energy, Orsted and Katoni Engineering must now complete work on their studies by 31 March 2022, with project reports to be published in 2Q22.

The plans are part of the corporate-wide effort to reduce upstream greenhouse gas emissions intensity by 40-50% by 2030, compared to 2016 levels.

The survey will take place over the Roncador and Albacora Leste fields in 2Q22.

Under the contracts, Worley will continue to provide project management, engineering, design, fabrication and installation supervision for Saudi Aramco’s portfolio of offshore projects.

The contract is for drilling a well in the Oswig prospect in Block 30/5C of the Northern North Sea basin offshore Norway.

The tie-back project will reach a production of 40 000 boe/d in mid-2022.

Shell said in a statement that it had "concluded the economic case for investment in this project is not strong enough at this time, as well as having the potential for delays".

The company has set annual capital spending through 2027 at US$20 billion to US$25 billion.

Chariot has contracted the rig to conduct drilling operations at the Anchois gas field offshore Morocco, with operations anticipated to commence in mid-December 2021.

In the company's upstream business, approximately US$8 billion is allocated to currently producing assets, including about US$3 billion for Permian Basin unconventional development and approximately US$1.5 billion for other shale and tight assets worldwide.