Field/project development
The project partners and the Newfoundland and Labrador government reach agreement over life-of-field benefits, royalties, and an equity option, moving development toward sanction in 2027.
Operator started planning the development before it made its latest North Sea discovery.
The Middle East’s largest unconventional gas development officially begins production as Saudi Aramco targets 6 million BOE/D of gas and liquids capacity by 2030.
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Sleipner’s share in net-zero emissions savings will be more than 150,000 tonnes per year. -
The FPSO vessel will reduce capital expenditure and breakeven costs and increase commercially feasibility, leading to FID.
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McDermott’s completion comes 19 months after it was first awarded. SapuraOMV achieved first production from the Larak gas field in January.
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Petrofac’s well management contract comes nearly a month after IOG received approval for phase 1. The contract also follows an EPC contract awarded to Subsea 7 in May.
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Delays and disruptions have stymied project plans in the past few months. How will companies prevent current stresses from morphing into catastrophic issues?
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An investment decision this year would sanction Norway’s first CO2 storage project. Phase 1 is expected to be operational in 2024.
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North Sea system now on track for completion in Q2 2021.
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The natural gas pipeline is co-financed by the EU, with work beginning immediately.
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The deferments are the latest actions Shell has taken in response to record low crude prices.
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The announcement comes as Aker BP has stopped all nonsanctioned projects. The remaining two Phase 2 wells will come on stream in 2021.
