Drilling & production

Petrobras has cut its five-year investment plan by 27% from a year ago to US$55 billion.

To date, the storage tanks and inspection gantry have been installed at the Wressle oilfield in North Lincolnshire, UK, while work is advanced in respect of the electrical and control system installation.

Genel Energy has announced first oil production from the Sarta field in Iraqi Kurdistan.

Santos will now embark on a 12-18 month appraisal programme ahead of a final investment decision.

The contract covers the Ula and Valhall installations in the Norwegian sector of the North Sea.

Penspen will undertake well tie-in work at the Haliba oilfield in the UAE as well as peripheral prospects.

The Syncrude joint venture has agreed in principle that Suncor will become the operator of the Syncrude oil sands project in Alberta, Canada, by the end of 2021.

The Johan Sverdrup field is increasing its daily production capacity, expecting to reach around 500 000 bpd by the end of the year.

Varel International Energy Services, a long-standing provider of drilling and downhole solutions, has announced its redefining vision for business growth.

The unconventional gas was delivered from the Ruwais Diyab Unconventional Gas Concession.

The closing of the transaction marks Tullow’s exit from its licences in Uganda after 16 years of operations in the Lake Albert basin.

Equinor has awarded Norsea Group AS, Saga Fjordbase AS and ASCO Norge AS contracts for services at supply bases in Norway.

Petrofac has completed the sale of its remaining 51% interest in its upstream IES operations in Mexico to Perenco Energies International Limited.

Lufkin Industries, a portfolio company of KPS Capital Partners, LP (KPS), has completed the acquisition of the North American Land Rod lift business of Schlumberger N.V.

Premier Oil has received the requisite level of support from each class of its creditors for its proposed merger with Chrysaor Holdings Limited.