Upstream project news

Global spending is forecasted to reach US$383 billion this year, the lowest level in 15 years and a 29% decrease of US$156 billion compared to 2019.

The MoU covers cooperation opportunities in E&P, LNG, downstream and infrastructure, and circular economy and low-carbon energy projects.

The Qinhuangdao 33-1S oilfield phase I project is expected to reach its peak production of approximately 6000 bpd of crude oil in 2021.

ConocoPhillips Australia now holds an 80% interest in T/49P in the offshore Otway Basin.

Equinor is the operator of the Krafla licence and Aker BP is the operator of the North of Alvheim and Fulla licences.

The scope of work includes providing subsea controls equipment consisting of jumpers, flying leads and an electrical/hydraulic distribution manifold.

The work scope includes the provision of umbilicals and distribution equipment to connect the King’s Quay floating production system to the Samurai, Khaleesi and Mormont deepwater developments.

Petrofac will provide project management systems and technical support during the FEED for Acorn Carbon Capture and Storage.

The company drilled a total of 80 wells, down from the approximately 110 wells originally planned due to continued production outperformance.

Applied Petroleum Technology will deliver geochemical and petroleum systems analyses in connection with Chrysaor’s Armada hub facility and exploration around the Greater Lomond area on the UK continental shelf.