Drilling & production

The three-year agreement, which includes options to extend, is estimated to be worth up to US$95 million over the term.

The project, which produces gas from the Giza and Fayoum fields, was developed as a deepwater, long-distance tie-back to an existing onshore plant.

PD&MS has won a two-year contract extension with Shell UK, extending an existing partnership through to April 2021, and securing in the region of 50 full time jobs.

The company has so far concluded contracts to drill 57 production wells, including 54 wells at Mishrif formation and 3 wells at Yamama formation.

Total plans to follow up the discovery with 3D seismic and wells on up to four more similar prospects on the block, 11B/12B.

The company has announced that it has increased its presence in Morocco with the awards of the Moulay Bouchta Ouest and Lalla Mimouna Sud licenses.

A total of 305 deals with a combined value of US$47.9 billion were registered in the upstream oil and gas industry in Q4 2018, according to GlobalData.

Among Corallian’s joint venture partners, Andalas Energy and Power represent the best leverage play for the Colter prospects with its 8% interest.

Entering into 2019, the global oil and gas industry remains cautiously optimistic as recovering oil prices have boosted companies’ profits and a rebound in new projects is expected.

Single-plane, three-charge system is up to 3.5 times shorter than traditional perforating guns, enhancing well-completion flexibility and operational efficiencies.

The US was undoubtedly the ‘most valuable player’ of 2018 global oil and gas M&A activity, accounting for more than two thirds of the total oil and gas deal value – a record high share – according to a new report by Deloitte.

During the December quarter, Triangle Energy (Global) Limited (Triangle, the Company) delivered a 93% increase in production over the previous quarter.

Paradigm Drilling Services (PDS) part of The Paradigm Group; a set of global Dutch innovation and technology companies, for the upstream oil and gas industry, has rebranded its entire suite of drilling tools.

The agreement is for two firm wells plus two contingent wells, with the contingent wells dependent upon evaluation of the Koburra 2D seismic programme.

Rystad Energy analyst Paola Rodriguez-Masiu comments on the sanctions announced by the US against Venezuelan state oil company PDVSA