Cost impacts on reduced supply chain capacity evident at challenging Wisting project Our usual weekly round-up of key project news from Upstream is overleaf. The delay by up to four years of Equinor''s challenging Wisting project offshore Norway (AKSO relevant) announced this week highlights the impact of reduced supply chain capacity this cycle on project costs. In Qatar, restrictions on the movement of people during the football World Cup this month is seen delaying bidding schedules for the Ruya, ISND and NFS projects by up to two months. In the UAE, contractors including Saipem and Petrofac are preparing to submit bids to Adnoc for a key framework agreement for works on multiple wellhead towers, while the NOC has also reportedly issued the main tender for its $1.5bn project to upgrade its sales gas pipeline network (PFC relevant). In Brazil, BW Offshore has received a three month extension on its notice to proceed (with Saipem) for the supply of Shell''s Gato do Mato FPSO, while Petrobras has floated a new tender for 67km of umbilicals. Elsewhere, SBM Offshore announced this week that ExxonMobil had signed an exclusivity agreement for its recently ordered Fast4Ward FPSO hull and BP has reportedly relaunched the prequalification stage of an EPCI tender for the next phase of its Tangguh LNG development. Chart of the week We show the downward momentum in 2023 growth estimates of US crude production by the EIA, which has intensified over the past two months driven by OFS tightness, some signs of well productivity starting to inflect marginally downward and continued public producer discipline. Earnings calls of US producers this week highlighted limited ambition to grow output next year, a helpful thematic for International project sanctioning. BNPP Exane MidCap CEO conference We are hosting Technip Energies at our European MidCap CEO Conference in Paris on Tuesday this week. Please let us know if you would like to schedule a call for feedback.