Drilling & production

Neptune Energy Norge has extended the contract for the Deepsea Yantai rig with an additional two wells in the Dugong area.

The field is located in onshore Concession Area B of the Sharjah Emirate.

The first cargo of crude oil from the Oryx Concession in Chad arrived in Taiwan at the Dalin Refinery earlier this month.

Over the last year, Zenith has acquired assets in Tunisia and in the Republic of the Congo.

Perseverance #1 is targeting P50 prospective oil resources of 0.77 billion bbl, with an upside of 1.44 billion bbl.

The agreement is for the supply of between 2000 and 4000 bpd from the Ohaji South Field in Nigeria.

Shell has said it will write down the value of oil and gas assets by US$3.5 billion to US$4.5 billion.

Gas production has started at the R Cluster, the ultra-deepwater gas field off the east coast of India being developed by Reliance Industries and BP.

The deal is expected to provide the catalyst for future international expansion in the Middle East and, in particular, Saudi Arabia.

The project will add almost 200 million bbl of recoverable oil reserves and help extend the productive life of the Snorre field through to 2040.

Denmark has cancelled its latest licensing round and put an end date of 2050 on all oil and gas exploration and extraction in the North Sea.

Chevron has cut billions off its long-term capital and exploratory budget after a major restructuring of its operations.

The thru tubing, inflatable packer and well intervention service portfolio provider has signed a long-term agreement with Saudi Arabian energy services company i-Energy.

ExxonMobil has said it will write down the value of natural gas properties by US$17 billion to US$20 billion.

If output increases as planned from January, the world will have to face a new 200 million bbl surplus through May, Rystad Energy calculates.