Drilling & production

For 4Q20, BP reported a profit of US$115 million.

Block 61, covering around 3950 km2 in central Oman, contains the largest tight gas development in the Middle East.

Wressle lies on licences PEDL180 & 182 in the UK, in which Europa Oil & Gas holds a 30% working interest alongside Egdon Resources (30% and operator), and Union Jack Oil (40%).

Chevron has announced an US$11 million 4Q20 loss.

The Gorilla VI (JU-248) jack-up rig, operated by Valaris, will drill four wells for the development over the course of the drilling campaign which is expected to last 18 months.

Most of the company's 2021 budget will be allocated towards operations in Guyana.

Affiliates of the two companies have entered into an agreement to jointly develop a futures contract for the physical delivery of crude oil in the Houston area.

Gilmore, a provider of flow control solutions, has appointed David Nemetz as its new CEO.

Azerbaijan State Oil and Industry University’s SPE (Society of Petroleum Engineers) Chapter students are being offered training to help bridge the gap between the knowledge gained at university and in-house industry experience.

Oil and gas technology development company Deep Casing Tools has secured investment of £1.6 million from Scottish Enterprise and its long-term backer, EV Private Equity.

Sophisticated imaging and deep-learning algorithms will allow the Dammam 7 supercomputer to run detailed 3D earth models, enhancing Aramco's decision-making on exploration and investment decisions.

The transaction is one of the largest oil and gas financings in Africa in more than a decade, with a financing component of US$1.1 billion.

Following completion of the acquisition Union Jack will hold a 45% interest in the project.

The contract was first announced in Maersk Drilling’s May 2020 Fleet Status Report.

The acquisition has been approved by Pioneer and Parsley stockholders.