Global upstream spending is now forecasted to reach US$383 billion this year, the lowest level in 15 years and a staggering 29% decrease of US$156 billion compared with 2019, Rystad Energy analysis shows following publication of the industry’s first quarter results. With 2019’s upstream…
Kuwait will no longer hire expatriates for jobs in its oil sector as the OPEC member moves to reduce the number of foreigners in the country. Non-Kuwaiti nationals won’t be hired at Kuwait Petroleum Corporation, the main state-run energy producer, and its subsidiaries for…
Chinese oil and gas company CNOOC Limited has started production from the Qinhuangdao 33-1S oilfield phase I project, located offshore China. Qinhuangdao 33-1S oilfield is located in central and western Bohai with an average water depth of 21 metres. It is one of…
Petrofac’s Engineering and Production Services business will support Pale Blue Dot Energy on two projects in north-east Scotland involving carbon capture and storage (CCS) and conversion of North Sea gas to hydrogen. The company’s full work scope comprises provision of project management systems and…
A consortium led by Siemens Gas and Power (Siemens Energy) has been awarded a turnkey contract for two converter stations for the Greek high-voltage direct-current (HVDC) link which will connect Crete, Greece’s largest and most populous island, with the mainland of Greece. The project…
Europa Oil & Gas has announced the conditional acquisition of a 100% interest in Frontier Exploration Licence (‘FEL’) 3/19, offshore Ireland, from DNO. Acquiring FEL 3/19, which is located close to the ~1tcf producing Corrib gas field in the Slyne basin, will add the…
Senex Energy Ltd, Brisbane, has completed its 100%-owned Surat basin natural gas development. The onshore southeast Queensland project comprises 80 gas wells which is less than the 110 wells originally envisaged because of continuing outperformance. In conjunction with infrastructure partner Jemena, the group…
The Trump administration is preparing sanctions on as many as 50 oil and fuel tankers as part of an effort to cut off trade between Iran and Venezuela, according to a person familiar with the matter. The sanctions would be imposed through the Treasury…
Subsea equipment specialist Deep Down has received material orders from two customers totalling approximately US$2 million. The scope of work for these orders includes providing subsea controls equipment. This consist of jumpers, flying leads and also electrical/hydraulic distribution manifold. The company will…
Petronas has made two discoveries offshore Sarawak, the company revealed in its latest results statement. The finds were in the SK407 concession (Kelapa Bali) and SK408 (Remayong). In addition, the company took final investment decisions during 1Q with its partners on three Malaysian…
