Shell

Oil producers that spent years gearing up for a growth spurt beginning in 2020 are making up for lost time.

Shell ended the year by announcing more writedowns, pushing the total near $22 billion, and raising questions about the future of its Appomattox platform in the Gulf of Mexico

The agreement will see Akselos become one of the global energy company’s verified suppliers for structural integrity assessments, forming part of Shell’s newly formed Digital Twin Platform.

The new deal will focus on developing Arctic onshore blocks in a region where a successful LNG project already exists.

Dutch oil major Shell is looking to further develop its North Slope oil position in Alaska. The company’s offshore unit applied to form the West Harrison Bay Unit offshore from the National Petroleum Reserve–Alaska with plans for drilling and exploration.

Shell has selected Bentley Systems, a provider of software and digital twin cloud services, to help streamline its capital projects and decrease time to first oil.

Shell's CEO said the Dutch supermajor has "too many layers" and that the move to downsize will help ensure its future. As a result, at least 9,000 people are expected to leave the oil and gas producer between now and 2022.

The Dutch major said it has filed an application for drilling operations in the North Slope as part of an effort to help attract buyers to 18 leases it purchased rights to in 2012.

The companies say they will expand their existing technology collaboration to create and deliver solutions to help customers, suppliers, and other businesses lower emissions.

Royal Dutch Shell is looking to slash up to 40% off the cost of producing oil and gas in a major drive to save cash so it can overhaul its business and focus more on renewable energy and power markets, sources told Reuters.