Worldwide O&G Industry Quarterly Update: April–June 2023

Executive Snapshot

• Figure: Executive Snapshot: Oil and Gas Industry Quarterly Update, April–June 2023

New Market Developments and Dynamics

• Industry Overview

• Oil Geopolitics

• Russia and Iran, Both Facing International Sanctions, to Boost International Trade with Agreement to Build Important INSTC Segment

• Iran Seizes Second Oil Tanker in the Arabian Gulf

• Iraq, Iran Ignore U.S. Sanctions in Talks to Expand Energy Ties

• OPEC Countries to Cut Oil Production

• GDP Trends

• Figure: Worldwide Real GDP Growth by Region, 2023

• E&P Activity

• Rig Count

• Figure: Worldwide Oil Rig Count, July 2022–June 2023

• Liquid Fuel Production and Consumption

• Figure: World Liquid Fuels Production and Consumption Balance, July 2022–June 2023

• Oil Prices

• Figure: Brent and WTI Crude Oil Price Trends, July 2022–June 2023

• Natural Gas Prices

• Figure: Natural Gas Prices, July 2022–June 2023

• Listed O&G Companies' Performance

• S&P Global Oil Index

• Figure: S&P Global Oil Index, July 2022–June 2023

• S&P GSCI Natural Gas Index

• Figure: S&P GSCI Natural Gas Index, July 2022–June 2023

• Downstream: Refinery Operations

• Upstream Licenses Round and E&P Agreements, 23Q2

• Norway Announces APA 2023 Licensing Round

• Indonesia Opens First 2023 Oil And Gas Bid Round

• Angola to Launch New Onshore Licensing Round

• Oman Opens Bid Round 2023

• M&As, Agreements, Reorganizations, and Major Business Developments, 23Q2

• Baker Hughes, Ocean Installer Extend North Sea Alliance with Integrated Subsea Engineering Solution

• Eni Acquires Neptune Energy to Expand Natural Gas Business

• Earthstone Energy Announces $1.0B Delaware Basin Acquisition

• Sercel Sells 20,000 WiNG Seismic Nodes in Challenging Oilfields in Mexico

• Volpak Acquires Stake in Dutch LNG Terminal

• QatarEnergy, Namibia Agree to Strengthen Cooperation in the Energy Sector

• Shell Sells Australian Offshore Natural Gas Interests to bp

• ONEOK-Magellan Merger to Create $60B Pipeline Giant

• Trio Petroleum to Acquire up to 100% of Union Avenue Oil and Gas Field

• Chevron Signs Contract for Permian Basin–Produced Water Transport

• ADNOC to Supply LNG to TotalEnergies Gas and Power

• Enbridge Acquires Gas Storage Facility in British Columbia for $295M

• TotalEnergies Partners with Petronas, Mitsui on Malaysian CCS Project

• Chevron Announces Agreement to Acquire PDC Energy

• Upstream, 23Q2

• ADNOC Drilling Awarded Five 10-Year Drilling Contracts Worth $2B

• Aker BP Makes Norwegian Sea Oil Discovery

• OMV Petrom Makes Multiple Oil, Gas Discoveries in Romania

• Norway Approves $18.5B Investment In O&G Projects

• OMV Petrom, Romgaz to Develop the "Largest" Natural Gas Project in the Romanian Black Sea

• Sparrow Wins Engineering and Maintenance Contract in Kuwait

• Trio Petroleum Signs Drilling Rig Contract for California Oil Well

• Wintershall, Partners Make Oil Discovery offshore Mexico

• Midstream, 2Q23

• Azerbaijan Inks Deal for New Gas Supply Route to Europe

• Equinor Signs 15-Year LNG Deal with Cheniere

• QatarEnergy, CNPC sign "Longest" SPA Commitment with 27-Year LNG deal

• TotalEnergies Joins Forces with U.S. Company to Develop LNG Project in South Texas

• Downstream, 23Q2

• bp to Use Honeywell's Ecofining Technology to Increase Sustainable Aviation Fuel Production Worldwide

• ENOC Group Taps Microsoft AI to Drive Business Innovation

• Shell to Roll Out New Payment Solution Across 13,000 U.S. Sites

• Engineering, Procurement, and Construction/Installation/Commissioning Contracts (EPC/EPCI/EPCC), 23Q2

• Aker Solutions Awarded a SWIFT Contract by Equinor

• Aker Solutions Renews Subsea Supply Agreement with Aker BP

• Aker Solutions Secures Contract from ExxonMobil in Guyana

• Equinor Awards Two Major Contracts for the BM-C-33 Project in Brazil

• Saipem Secures a Significant EPCI Contract from Aramco

• Shell Awards Contract to Worley for Major Global Projects

• New Energy Business Investments, Contracts, and Major Business Developments, 23Q2

• ABB Introduces Operational Planner for Offshore Wind Maintenance

• Eni Sustainable Mobility's Enjoy Adds Electric Vehicles to Its Car-Sharing Fleet in Rome

• Saipem Completes Development for Scotland's Largest Offshore Wind Farm

• ICT Ecosystem Major Acquisitions, Agreements, and ICT Contract Wins, 2Q23

• Aker BP Joins Digital Twin Consortium to Advance O&G Production

• AVEVA, Petrofac Sign MOU to Accelerate Digital Initiatives

• Halliburton Buys Norway's Technology Company Resoptima

• Nabors, Corva to Accelerate Digital Transformation of Global Drilling Industry

• Neptune Developing Digital Twins for Two more North Sea Platforms with Eserv

• Repsol Accelerates Its Digital Journey with Halliburton Technology to Automate Well Design Process

• TotalEnergies to Deploy Offshore Robot Fleet Management System

• Generative AI, 2Q23

• Salesforce Launches AI Cloud

• Salesforce Einstein GPT for Field Service Available in Beta

• ServiceNow Expands GenAI Offerings with Now Assist for Virtual Agent

• Google Cloud, KPMG Launch GenAI Collaboration

• HCLTech, Google Cloud Expand Partnership to Boost Innovation and Adoption of GenAI

• Siemens, Microsoft Partner on Generative AI

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