Drilling & production

The company has announced that the joint venture partners have approved a 2019 work programme and budget for four firm wells and one contingent well at the Manora oilfield in G1/48.

The company is aiming for a gross initial flow rate of 325 bpd at the well, which would generate a free cash flow of approximately US$3.6 million and payback well costs in less than six months (assuming a price of US$60/bbl Brent)

The company has entered into an agreement with Gabon Oil Company (GOC) for the acquisition of a 10% interest in the Dussafu production sharing contract.

The newly built rig will drill six wells in the Norwegian sector of the North Sea.

The Oda field is Spirit Energy’s first development as operator on the Norwegian Continental Shelf.

Not until 2025, 11 years after the last peak, are global service market revenues again likely to have made it back to the US$920 billion mark seen in 2014, according to Rystad Energy.

During 2018 Eagle Ford re-emerged as one of the lucrative destinations for oil and gas companies, according to GlobalData.

PTTEP, Thailand's national oil exploration & production company, awarded Vallourec the contract to deliver over 3000 t of OCTG for its Myanmar M9 West exploration well.

The company has announced that the Sirasun and Batur gas fields, which are part of the TSB gas complex in Kangean block in the Republic of Indonesia, commenced the production of natural gas on March 10.

Under this award, Borr will deliver a total of 9 offshore development wells to its customer under an integrated services model.

The company has announced that 10 000 bbls of Portland oil production has been reached at Horse Hill.

The company has been awarded a contract worth around US$1 billion with Groupment Isarene for the Ain Tsila Development Project in Algeria.

Wood has secured a contract from Siemens to install a new Siemens HL-class gas turbine at a power generating station in North Carolina.

Latest interim report focuses on Appalachian, Permian and STACK upstream activity over next ten years.

Following the latest forecast from the UK Oil and Gas Authority (OGA) for the UK’s offshore sector, Jonathan Markham, Senior Upstream Oil & Gas Analyst at GlobalData, offers his insight on the future of the UK’s upstream sector.