Upstream News

Global coverage of exploration and production, field development, shale, fracking and other upstream sector developments

	Amplus Energy awarded first major contract in Angola 8th August 2019 Aberdeen-based floating production solutions specialist Amplus Energy Services has been awarded a multi-million-dollar contract to re-evaluate the development of marginal fields in Angola.The aim of the...
	Neptune Energy acquires interests in Kutei Basin from ENI 29th July 2019 Neptune Energy has announced it has agreed to acquire interests from Eni in the Kutei basin Production Sharing Contracts (PSC), offshore Indonesia.The agreement will see Neptune acquire a 20 per cent...
	Discoveries up 35 per cent with deepwater leading the way 29th July 2019 The 1,123 million boe average monthly discovered volumes year-to-date reflect an approximate 35% uplift compared to the 827 million boe seen in 2018. So far, 2019 has been a year of gas discoveries, which...
	Guyana has limited scope to increase royalties while maintaining competitiveness 29th July 2019 If Guyana goes ahead with its plan of increasing the royalties in its production sharing agreements (PSAs), the scope for adjustment will be limited if it wishes to retain its regional competitiveness....
	Verotec helps keep North Sea oil platform safe 25th July 2019 Oil rigs in the North Sea are located in some of the most inhospitable environmental conditions to be found, adding to the issues faced by operators in ensuring 24/7/365 operation. Verotec has recently...
	Total divests assets in the UK to Petrogas 21st July 2019 Petrogas has partnered with Norway-based private equity investor HitecVision.Formerly owned by Maersk Oil, these assets are located in the Eastern North Sea. The overall consideration for this deal amounts...
	Brazil continues to lead global deployment of FPSOs to 2025 21st July 2019 The company’s report: ‘Q3 2019 Global FPSO Industry Outlook – Brazil Continues to Lead Upcoming FPSOs Growth’ reveals that Brazil will also lead globally on crude production capacity...
	Project sanctioning in 2019 could soon eclipse 2014 21st July 2019 This is yet another signal that the offshore industry has turned a corner and can reach a potential project commitment total of $123 billion in 2019, surpassing commitments in 2014 of $78 billion, according...
	Subsea compression FEED order for MAN Energy Solutions 17th July 2019 “We are very proud to work with our alliance partner Aker Solutions on the Jansz-Io field development project for Chevron Australia,” says Uwe Lauber, CEO of MAN Energy Solutions. “Thanks...
	Fugro performs first North Sea remote heading control operation 12th July 2019 A recent week-long operation included accurate remote configuration of the positioning systems onboard the FPSO, the assisting anchor handling vessel and the dive support vessel, with no Fugro survey crew...