A Norwegian Offshore Directorate analysis of exploration activity from 2004-2023 shows that the discoveries are valued at three times the costs expended. 50 of 190 offshore discoveries have been developed and are producing, leaving three-quarters still to be developed. These investments will remain profitable as more fields come on stream.
Petrofac’s operations business secures $500 million in contracts
Petrofac’s Asset Solutions division has been awarded a number of scope expansions and new...