The scope of the agreement covers maintenance, inspection and testing services on five pedestal cranes on the development’s Likouf Floating Production Unit (FPU) and Tension Leg Platform (TLP) over three years.
Drilling & production
Aker BP has been given consent to drill exploration wells in block 25/2 in the North Sea.
Tethys Oil's share of the production, before government take, from Blocks 3&4 onshore the Sultanate of Oman amounted in June 2017 to 375 333 bbls of oil, corresponding to 12 511 bpd.
More Drilling & production news
Providence Resources has provided an update on Licencing Option 16/27 in the Porcupine Basin, offshore Ireland.
The Norwegian Petroleum Directorate has granted Lundin Norway AS a drilling permit for well 7220/11-4 A, cf. Section 8 of the Resource Management Regulations.
Waitsia-4 was spudded on 10 July 2017 and is forecast to take approximately five weeks in total to complete.
The discovery was made in the Blåmann well, between the Snøhvit and Goliat fields in the Barents Sea. Recoverable volumes are estimated at 2 - 3 billion standard m3, approximately 10 - 20 million boe.
EIA now forecasts Brent crude oil spot prices to average US$51/bbl in 2017 and US$52/b in 2018. West Texas Intermediate (WTI) crude oil prices are expected to be US$2/bbl lower than Brent prices in 2017 and 2018.