Upstream news

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.

Petrogas will employ the harsh-environment jack-up rig Maersk Resilient to drill the appraisal well.

Piping spools and umbilicals will be removed using the Utility ROV Services system (UTROV), a remotely-operated tool carrier equipped with multiple attachments for the recovery of subsea equipment.

Proserv and Trendsetter will develop solutions for their clients across both brownfield and greenfield projects.

The project involves the construction of a hydrocarbon collection system and the transport of gas and condensate to the new Jafurah plant, in the Eastern Province of Saudi Arabia.

Both contracts have been signed on a 3-year fixed-term basis, with expected commencement in September 2022.

The sale of its Corrib stake means that Equinor will no longer have an active business presence in Ireland.