Taking place in the rectory of the university in Villahermosa, Mexico, both the university authorities and representatives from Penspen witnessed the signing.
The latest upstream news
The two-year contract extension is for the delivery of integrated specialist asset integrity services for Chrysaor’s Armada, Everest and Lomond offshore production platforms located in the Central North Sea.
The majority of foreign companies are not making any profit or losing money in their partnerships with PDVSA to develop and produce hydrocarbons.
Support will initially cover the identification and evaluation of FPSO options for the development and pre-FEED technical assurance of the subsea design.
The well will be drilled from the Transocean Spitsbergen drilling facility in position 67°37'20.60"N and 6°45'57.57"E.
Production in the area, which spans Texas and New Mexico, could reach 5.4 million boe per day by 2023, putting it ahead of every OPEC country except Saudi Arabia.
During the period the company maintained production levels in addition to recommencing onshore drilling and increasing offshore activity, resulting in a strong start to Q4.
The contract is to provide high-pressure riser and abrasive jet cutting services to the Deep Panuke decommissioning project offshore Canada.
This is the company's third large project in the Caspian Sea alongside with two other fields, Yury Korchagin and Vladimir Filanovsky.
Fuel price increases will outpace Asian governments’ ability to offset them with subsidies, according to ESAI Energy’s recently published 'Asia Watch'.