19 June 2026
19 June 2026
As of 08:11 GMT on 18 June, Brent crude futures had fallen by $1.59, or 2%, to $77.96/bbl.
The new deal between the US and Iran will open the Strait of Hormuz, but oil and gas operators must now focus on tech solutions to stop wasting existing natural gas if similar shocks emerge, says GlobalData analyst Aoife McGurk.
The Foinaven field is situated around 190km west of the UK's Shetland Islands, within the Faroes/Shetland Trough.
The project involves the first phase of drilling seven new wells, which will be connected to the Jotun FPSO.
The concept includes 13 wells across six templates and separating streams on the seabed before transporting them to the Troll B platform.
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