Sector Editor: DAVID LOVE
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ConocoPhillips makes FID to develop Willow project
HOUSTON — ConocoPhillips reported that it will move forward with development of the Willow project in Alaska. This FID approves the project and funds construction needed to reach first oil. The decision follows the DOI March 2023 Record of Decision and recent positive court orders, including the Ninth Circuit Court of Appeals denial of plaintiffs' request for an injunction. According to the Bureau of Land Management, the Willow project is expected to deliver $8 billion to $17 billion in new revenue for the federal government, the state of Alaska and Alaska Native communities. When completed, Willow is estimated to produce approximately 600 million bls of oil across the lifetime of the project, decreasing American dependence on foreign energy supplies. Designed to support and coexist with subsistence activities on Alaska's North Slope, the Willow project underwent five years of rigorous regulatory and environmental review. For more information, visit conocophillips.com.
U.S. O&G jobs down slightly in December, up overall for year
HOUSTON — Jobs in the U.S. oilfield services sector experienced a slight decline in December with a decrease of 941 jobs, according to preliminary data from the Bureau of Labor Statistics after adjustments to November numbers and analysis by the Energy Workforce & Technology Council. Compared to November, job availability across the sector decreased by 0.5%. While the market continues to recover from the pandemic, adjusted numbers for 2023 indicate that the energy services sector is still on an upward trajectory, with job availability rising compared to 2022. At the market's 2022 peak in December, 648,679 jobs were reported in the energy services sector. In December 2023, 648,933 jobs were reported. For more information, visit energyworkforce.org.
Shell makes FID to deliver three wells in its GoM Perdido spar
HOUSTON — Shell Offshore, a subsidiary Shell, has made a FID for a phased campaign to deliver three wells in the Great White unit designed to boost production at the Shell-operated Perdido spar in the U.S. GoM. After completion of this campaign in April 2025, these wells collectively are expected to produce up to 22k boe/d at peak rates. "Shell is the leading operator in the U.S. Gulf of Mexico, and we continue to find ways to build on that position," said Rich Howe, Shell's executive VP for Deep Water. "By expanding our Perdido development, we continue to unlock the greatest value from this exceptional resource." This investment underscores Shell's long-term commitment to the GoM, where production is essential to ensuring a reliable and secure supply of energy. GoM production has among the lowest GHG intensity in the world for oil production. For more information, visit shell.com.
Energy Workforce rebuffs offshore leasing program
HOUSTON — The Energy Workforce & Technology Council recently released the following statement rebuffing the newly finalized DOI 2024–2029 National Outer Continental Shelf Oil and Gas Leasing Program. The program holds the fewest O&G leases in U.S. history. Only three O&G lease sales are scheduled for the GoM program area in 2025, 2027 and 2029, a sharp departure from the previous plan's 11 lease sales. "There is no doubt that this action will have a detrimental impact on energy supply for the United States," said Energy Workforce President Tim Tarpley. "Limiting Americans access to their offshore energy resources not only threatens our energy security but harms the American workforce and economy." The U.S. OCS is estimated to hold 90 billion bls of oil and 327 trillion cuf of gas. If developed, these resources could create more than 800,000 American jobs, spur nearly $450 billion in private-sector spending and generate more than $200 billion in revenue for federal and state governments. Energy Workforce & Technology Council is the national trade association for the global energy technology and services sector. For more information, visit energyworkforce.org.
