Management
The decision keeps the effective tax rate on upstream projects at 78%, prompting new warnings that investments will continue to dwindle in the UK Continental Shelf.
Adura will become the UK North Sea’s largest independent producer by combining 12 key oil and gas assets, employing around 1,200 staff. It aims to produce more than 140,000 BOED in 2026.
As the industry advances through a pivotal stage of the energy transition, emphasis remains on topics such as carbon capture and storage (CCS), decarbonized operations, digital transformation, and asset integrity—areas driving innovation, operational excellence, and sustainable value within SPE’s evolving technical landscape.
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The Tiber FPU is expected to follow the Kaskida hub currently being built in Singapore. -
Closed-loop geothermal systems have entered the new-energy arena to generate electricity using the underground as a heat exchanger.
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Equinor will reduce investments in renewables over the next 2 years by 50% to $5 billion and will increase its focus on oil and gas production, expecting more than 10% growth from 2024 to 2027.
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Upgraded sour-gas injection and a new third-generation processing plant are key to keeping supergiant Tengiz producing for years to come.
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The new Sevan-designed cylindrical FPSO is expected to flow 45,000 BOE/D at peak.
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The companies said they plan to work together on developing geopressured geothermal systems for low-carbon energy storage and geothermal power generation.
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Industry leaders champion collaborative solutions as essential for overcoming fracturing limitations.
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Analysts at Enverus Intelligence Research and Rystad Energy report that US shale consolidation has largely run its course.
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A Shell partnership with YPF marks a significant milestone for the Argentina LNG export facility, raising new questions about the nation’s potential to unlock the economic power of its vast shale reserves.
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Updates about global exploration and production activities and developments.
