Upstream project news

A review of 66 projects on the Norwegian continental shelf (NCS) between 2007– 2018 has revealed that most have kept their estimated costs.

The company's separation into TechnipFMC and Technip Energies has been delayed by the Covid-19 pandemic, the sharp decline in commodity prices, and the heightened volatility in global equity markets.

Malampaya services approximately 30% of the Philippines' demand for electricity.

Activity reductions are planned in the Permian Basin, Egypt and the North Sea.

Murphy’s revised 2020 budget is now approximately US$950 million, a nearly 35% revision.

The company recorded loss after tax of US$1694 million. in 2019.

The two LNG-fuelled PSVs Island Crusader and Island Contender, as well as a third sister vessel Island Commander, have ben contracted by Lundin Norway.

The contract will see BJ Services' TITAN fracturing fleet deployed in the Haynesville shale.

The company has said it completing a series of "transformational" acquisitions in the Republic of the Congo, West Africa, Tunisia and Italy.

Fugro and the US National Oceanic and Atmospheric Administration Office of Ocean Exploration and Research are focusing on mapping deepwater areas of the US Exclusive Economic Zone (EEZ).