The cost of decommissioning in the North Sea has fallen to £46billion, however the Oil and Gas Authority (OGA) has warned that a “slowdown” means its target could be missed.
Troubled operator Hurricane Energy has announced the completion of decommissioning work to its Lincoln well, which it once hoped to develop, in the west of Shetland.
Repsol Sinopec has said “organisational changes” are to be made at the Flotta oil terminal in Orkney as the firm explores energy transition opportunities.
Oil firm Pemex has said there was no environmental damage caused, days after a viral clip was shared online of an "eye of fire" near an offshore platform in the Gulf of Mexico.
EnQuest has announced the completion of its acquisition of the Bentley field, one of the North Sea’s largest untapped discoveries, from Whalsay Energy.
Although key barriers remain, the worldwide potential of hydrogen is vast. Some estimate an investment pipeline of $300 billion, with hydrogen possibly supplying 18% of global energy by 2050. The Gulf States are particularly well placed to capitalise as producers and exporters of clean hydrogen.
A total of 20 FPSO awards are expected to be made in 2021 and 2022, bringing a boost to fabrication yards, according ot new analysis from Rystad Energy.