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The memorandum of understanding with Microsoft follows a conditional investment decision in May that Equinor, Shell, and Total made for the carbon capture and storage project.

The latest agreement between Wood and Equinor will begin January 2021. The contract follows recent agreements between the two companies for the Breidablikk development in the Norwegian Continental Shelf.

TechnipFMC and McPhy signed a memorandum of understanding to work together on the development and project implementation of hydrogen technology. Separately, McPhy and Chart Industries also signed a memorandum to scale up hydrogen projects across various markets.

The memorandum of understanding with Microsoft follows a conditional investment decision made in May by Equinor, Shell, and Total. Pending Norwegian government approval, the final investment decision for the project is expected in late 2020 with startup expected in 2024.

Forty-four percent of oil production and 30% of natural gas production remain shut in as operators return workers to offshore platforms. Production from undamaged facilities are being brought back online once all standard checks are completed. Facilities with damage may take longer to bring back up.

Akers BP said it will use lessons learned from the pilot and scale the remote-assist concept across its assets.

Deloitte discusses the “great compression” of the oil and gas industry in which companies’ room to maneuver is restricted. How can the industry avoid a talent gap and stop an organizational challenge from becoming a precarious business problem?

Tough talk about World Bank financing for oil and gas is a sign of the growing pressure to squeeze investing in fossil fuels as a way to slash carbon emissions.

The majority of energy firms surveyed by the Federal Reserve Bank don’t expect the business environment to significantly improve until 2022 or 2023.

As data management (DM) moves from priority to imperative status in the beleaguered upstream industry, growing gaps between DM-mature and DM-immature organizations will determine future leaders.

Chevron is initiating its layoffs of up to 15% of its global workforce of 45,000 first announced in late May by asking employees to reapply for positions. It closed its $4.1-billion acquisition of Noble Energy this week in which it gained 2,200 employees.

The deal includes Sandvik’s exploration rigs, consumables, production stock, and selected trademarks and patents.