Drilling & production - 25 March 2019

The Malaysian oil and gas services company declared net profits of US$123.01 million for the quarter ended 31 January 2019.

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.

These contracts, with a combined value of approximately US$54M, are for drilling operations in the Middle East, Russia, Europe and Africa.

Operations have paused due to severe weather conditions related to tropical cyclone Veronica.

Oil & Gas UK published its annual Business Outlook review and presented its findings in both London and Aberdeen on 20 March. Westwood’s Technical Manager, Alyson Harding, comments.