Drilling & production

During operations to recover a failed packer, the well started flowing natural gas to surface. For safety reasons, the well was immediately shut in.

The exploration target of the Alom-1 well on Block 9 was to prove hydrocarbons in stacked Pleistocene targets. The objectives were found to be dry and the well will now be permanently plugged and abandoned.

The company achieved a total net production of 124.8 million boe for 3Q19, representing an increase of 9.7% y/y.

Prior to the drilling of well 6506/11-11 S, the operator’s resource estimate for the discovery was between 3 and 21 million m3 of recoverable oil equivalents.

DST2 was performed over a 12 m interval from 2834 m in the upper portion of the Lower Tsagaantsav Formation. The zone flowed oil and some associated gas to surface without the need for any artificial lift.

The company has announced 3Q19 sales and revenues of US$12.8 billion, a 6% decrease compared with US$13.5 billion in 3Q18. The decrease has been attributed to a US$1.2 billion movement in dealers’ inventories.

Wilson Energy Services will pay Range a total cash consideration of US$3.6 million upon completion of the transaction.

At the end of ramp-up, production will reach a capacity of approximately 3 million m3 of gas and 3000 bpd of condensate.

The agreement was made at the Russia-Africa summit in Sochi, Russia.

Aker BP has reported total income of US$723 (785) million and operating profit of US$196 (354) million for 3Q19.

Dragon Oil will invest US$1 billion over five years to boost and extend the production of the oil concessions in Egypt's Gulf of Suez.

The well is located in Armour’s 100% owned PL227, part of the company’s Kincora Project on the Roma Shelf in south west Queensland, Australia.

The contract covers the delivery and installation of subsea equipment.

Petrofac will provide FEED and conceptualisation studies to clients in Oman and Libya.

Under the agreement, Shell will reduce its stake in the discovery from 80% to 50% and continue as operator, while Total will retain the remaining 20%.