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.
The capability of modern wellbore surveying to increase asset value through improved subsurface modeling and completion-equipment placement is being overlooked by managers of operating companies.
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Partners will go back to the drawing board to design a new well to reach the prospect’s primary objectives. -
First oil from Beacon Offshore’s Shenandoah is on track for the second quarter of 2025. Project partners also have sanctioned a second phase of development and are advancing plans for a related project.
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Arcius’ remit covers the Shorouk concession, home to the Zohr gas field whose production decline has been fueled by a lack of investment.
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New IEA Report: Next-Generation Geothermal Can Go Global, But Oil and Gas Industry Must Show the WayThe upstream sector could help unlock geothermal energy’s potential but up to $1 trillion in project spending would be necessary over the next decade, the report says.
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Deepwater subsea tieback expected online by the end of the decade, targeting more than 300 million BOE.
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The institute is tasked with accelerating the deployment and scaling of cost-effective climate technology.
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The acquisition will add water infrastructure in both the Midland Basin of west Texas and the Williston in North Dakota.
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Supermajor reached a final investment decision on a two-well subsea development to be hosted by the Perdido spar platform in the deepwater Gulf of Mexico.
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A dozen new platform supply vessels will be supplied by Bram Offshore and Starnav Serviços Marítimos.
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The environmental impact statement is a required step before another lease sale can be held in the Gulf of Mexico, a move welcomed by the oil and gas industry.
