Drilling & production

Zenith Energy has submitted an offer to the Ministry of Hydrocarbons of the Republic of the Congo for the award of a new 25-year licence for the Tilapia oilfield, to be named "Tilapia II".

The merger aims to reduce combined fixed costs by about £128.58 million on an annualised basis in 2021 compared to the level in 2019.

The company is to resume drilling in the Barents Sea and the North Sea.

Premier Oil is seeking a four-to-five year extension to debt due next year.

Petrobras has sold its interest in two onshore production fields in the Potiguar Basin and 10 shallow water fields that comprise the Pampo and Enchova Clusters.

Tendeka has joined the OSIsoft EcoSphere, a collection of more than 300 industrial leaders that provide products, applications, and services for the PI System.

A Rystad Energy analysis shows the number of drilled wells globally is expected to reach around 55 350 this year, the lowest since at least the beginning of the century.

Approximately 80% of the oil and gas properties impairment losses are due to the significant and immediate reduction in oil and natural gas prices assumed up to 2025.

Profit before taxes amounted to US$151 million, compared to a loss before taxes of US$414 million in 1Q20.

Weatherford will project manage the drilling and completion of 20 wells in the Al-Nasiriyah field in the Dhi Qar province in southern Iraq.

The approval ensures that Ohio’s well plugging regulations address modern industry operations, standards and materials while putting in place better planning and review of plugging operations by the well owner as part of the permitting process.

Similar to the previous downturn, awards for FPSO vessels are set to recover next year, with seven projects likely to be sanctioned according to Rystad Energy.

The four-year contract will provide a minimum of 30 Non-Umbilical Downhole Deployment Valves (NU-DDV™) that will be deployed in Eni’s critical wells.

The contract is for new water treating facilities for North Caspian Operating Company (NCOC) in Atyrau, Kazakhstan.

Production from the Lancaster field was 1.3 million bbl in 2Q20, compared to 1.4 million bbl in 1Q20.