The Malaysian oil and gas services company declared net profits of US$123.01 million for the quarter ended 31 January 2019.
The latest upstream news
The consortium of Bharat Petroleum Corp. Ltd and Indian Oil Corp. Ltd. will hold a 100% stake in the exploration phase to explore for and appraise oil and gas opportunities.
The company has announced that Rathlin Energy (UK) Limited has signed a rig contract for the drilling of the West Newton appraisal well, expected to spud in April 2019.
Island Drilling has received a contract from CNOOC for the drilling of two wells on the British side West of Shetland.
Integrity Management Solutions has commenced drilling operations at the Burnett 2B well within the Monroe Swell field, onshore California.
The company has contracted Gardline Limited to conduct a site survey for its 2019 and 2020 drilling programme plus the pipeline route for its Liberator Phase I development.
In reaction to Oil & Gas UK’s 2019 Business Outlook report – which spells positive news for UK O&G but notes that investment is needed to push the industry forward – Simon Tucker, Head of Energy and Commodities at Infosys Consulting, comments.
Canadian Oil Sands production in 2019 will be almost 230 000 bpd lower than last year, according to ESAI Energy’s recently published North America Watch.
Adam Johnson, director of Leeds-based Tudor International Freight, said the structure was undoubtedly well-intentioned and would cause some UK oil and gas businesses to breathe sighs of relief.
The two final platform topsides were installed using the heavy lift vessel Pioneering Spirit’s single lift technology.
The company has sold its Malaysian assets to a subsidiary of PTT Exploration and Production Public Company Ltd.