Once a production sharing contract for blocks 01 and 02 of the Cuu Long Basin expire, PC Vietnam Limited will hand the blocks over to the host authority.
Drilling & production - 28 July 2017
The Norwegian Petroleum Directorate has granted Aker BP ASA a drilling permit for well 25/4-11, a wildcat well in production licence 677.
Two Merlin ERD engineers have received Drilling Engineering Awards from The Society of Petroleum Engineers, recognising their drilling expertise.
Faroe Petroleum has announced the conditional acquisition of a further 13.9935% interest in the Blane Field in the UK North Sea from JX Nippon Exploration and Production (UK) Limited for a total consideration of US$5.25 million.
Saipem and Petrobel have finalised offshore contract variations worth US$900 million for EPCI activities in relation to the 'Optimised Ramp Up' phase of the 'supergiant' Zohr Field Development Project situated in the Mediterranean Sea off the Egyptian coast.
Plug & abandonment (P&A) and well repair specialist HydraWell has appointed Mark Sørheim as its new chief executive officer.