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Aker BP announce exploration success in PL340 near Alvheim

Aker BP is about to complete drilling of the Frosk exploration well 24/9-12 located near Alvheim in the North Sea. The well has proved oil. Preliminary analysis indicate a discovery size of 30 - 60 million boe, which is significantly more than the company’s pre-drill estimates of 3 - 21 million boe.

SeaBird Exploration awarded source contract in West Africa

SeaBird Exploration has announced that it has signed an agreement to provide a source vessel for an upcoming survey in West Africa.  The project is anticipated to commence during Q1 and will have a duration of approximately 60 days. SeaBird will be using the Osprey Explorer for the project.


ADNOC signs new offshore concession agreement with Cepsa

On behalf of the Abu Dhabi Government, the Abu Dhabi National Oil Company (ADNOC) signed an agreement with Cepsa, a Spanish integrated oil and gas company, awarding it a 20% stake in Abu Dhabi’s offshore SARB and Umm Lulu concession.


OGIC observes increased confidence in North Sea emerging technologies

Over the past year, the Oil & Gas Innovation Centre (OGIC) has seen a growing appetite from companies looking to invest in the development of emerging technologies, as North Sea operators continue to demonstrate the benefits of technology-led solutions in response to the economic downturn.

 

Westwood Insight: A nickel for your sour fields?

Corrosion resistant alloys (CRAs) are back in demand. The supply chain is preparing for an uptick in deliveries as a growing proportion of field developments require high quality downhole tubulars.

 

Angus Energy completes first stage of Balcombe Partnership

Angus Energy Plc, the conventional oil and gas production and development company, is has announced that pursuant to the Company’s 22 January RNS it has initiated the Balcombe Partnership with the completion of a £1 850 000 payment to Cuadrilla Balcombe Limited (Cuadrilla) and Lucas Bolney Limited (Lucas).


Noble Energy announces US$750 million share repurchase programme

Noble Energy, Inc. has announced that its Board of Directors has authorised a US$750 million share repurchase programme.  In addition, the Company has executed an agreement to sell its deepwater Gulf of Mexico assets to Fieldwood Energy LLC (Fieldwood) for a total value of US$710 million. 

 
 
 

ShaMaran announces payment for Atrush oil deliveries

ShaMaran Petroleum Corp. reports that TAQA Atrush BV, operator of the Atrush Block, has received US$16.2 million on behalf of the Atrush co-venturers from the Kurdistan Regional Government (KRG) as payment for November 2017 crude oil deliveries from the Atrush license to the export market.

 
 

EnQuest announces operations update

EnQuest has provided an unaudited update on the Group's performance in 2017, together with an outlook for 2018 ahead of its 2017 Full Year Results, which will be announced on 20 March 2018.

 

NOVATEK Signed MOU with Saudi Aramco

According to the MOU, the parties agreed to collaborate internationally on natural gas projects, including LNG supplies, development of LNG markets, gas exploration and production projects, as well as research and technology development.

 

NETZSCH highlights NOTOS™ Multiple Screw Pumps

The Multiple Screw Pumps are designed to handle difficult media, including low to high lubricant fluids, and low to high viscosity, shear sensitive, or chemically aggressive media.

 
 
 
 

Oil Search completes the Alaska North Slope acquisition

Oil Search announces that its acquisition of a 25.5% interest in the Pikka Unit and adjacent exploration acreage and a 37.5% interest in the Horseshoe Block in the Alaska North Slope from privately-owned companies Armstrong Energy LLC and GMT Exploration Company LLC, announced on 1 November 2017, was completed on 14 February 2018, following the approval of the transaction by the Committee on Foreign Investment in the US.

 
 

Saipem wins US$750 million contract onshore Oman

The contract was awarded by Duqm Refinery and Petrochemical Industries Company L.L.C, a Joint Venture between the Oman Oil Company (OOC), the national oil company, and Kuwait Petroleum International (KPI).

 
 
 

 

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Aker BP announce exploration success in PL340 near Alvheim

Aker BP is about to complete drilling of the Frosk exploration well 24/9-12 located near Alvheim in the North Sea. The well has proved oil. Preliminary analysis indicate a discovery size of 30 - 60 million boe, which is significantly more than the company’s pre-drill estimates of 3 - 21 million boe. The discovery also has a positive impact on the assessment of further exploration potential in the area.

Frosk is located in PL340, which also contains the Bøyla field. Bøyla has been producing oil since 2015 through a subsea installation tied back to the Alvheim FPSO.

“The Frosk discovery adds significant volume and value to our resource base, and provides an ideal basis for another profitable expansion project which will secure optimal utilization of the infrastructure in the Alvheim area for many years”, says Gro G. Haatvedt, Senior Vice President Exploration in Aker BP.

“The discovery has given us valuable new information about the geological conditions in the area, and has further increased the attractiveness of other possible exploration targets,” Haatvedt says.

The Norwegian Petroleum Directorate will issue a more detailed press release when the evaluation of the discovery has been completed.

Aker BP is the operator of PL340 with a 65% working interest. The partners are Point Resources with 20% and Lundin Petroleum with 15%.

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