Drilling & production

MOL's upstream EBITDA was 10% lower in 1H19 at US$553 million, while average daily hydrocarbon production was 111.8 boe/d higher by 2% y/yr.

The joint venture, InVision Offshore, Inc., will be based in Houston, Texas, US.

The contracts are for coiled and N2, stimulation services and cementing services for a period of 5 years with possible extensions of up to 2 years.

The JV enables Ecopetrol to book approximately 160 million boe of proved undeveloped reserves at transaction closing.

The drilling programme for well 25/7-7 relates to the drilling of a wildcat well in production licence 782 S.

The agreement covers Block 77 in central Oman, with each company holding a 50% interest.

The permitting work for the Appomattox project, which saw first oil in May 2019, helped define and clarify the safety requirements in BSEE’s recently published high pressure and high temperature related guidance documents.

The acquisition adds approximately 6001 boe of daily net production to Neptune’s production in Germany – an increase of approximately 5%.

11 wells were drilled and four discoveries made by the company in 1H19.

The award recognises a service company or operator who has pushed the boundaries of well intervention and coiled tubing technology.

Experts predict that 2019 and beyond will see deep offshore exploration and mega gas finds in Africa.

Planning permission for development of the Wressle oilfield in North Lincolnshire, UK, has yet to be granted.

Production resumed on 11 July and since testing began the well has produced at an average rate of approximately 360 boe/d (295 bpd plus 390 million ft3/d).

Delegates at URTeC 2019 have been warned that rapidly rising production in the Permian Basin has led to soaring levels of associated gas, outpacing pipeline infrastructure and placing increasing slowdown pressure on other production streams like crude oil and NGLs.

The two-year contract with Archer (UK) Ltd will see Munro’s Travel provide a full travel management service, including their in-house passport and visa service.