Following execution of term sheet on L15, as announced on 31 December 2018, a wholly owned subsidiary of Doriemus has now executed the Farmout Agreement with a wholly owned subsidiary of Rey Resources Limited.
The company has provided an update on operations following the end of the first half of its 2018-2019 financial year which ended on 31 January 2019.
Pentag Gears and Oilfield Equipment Ltd, a designer and manufacturer of gearing and machinery, has completed the delivery of its 35th beam pump for Wytch Farm oilfield in Dorset.
After activity levels fell to only 240 subsea trees installed globally in 2017 – the lowest level since the turn of the century – Rystad Energy forecasts that over 350 subsea trees will be installed per year by 2021.